BUS3024S Test 1 2008.pdf (0,2 MB)

For question 6 (ii) of this paper, they asked us to calculate the retrospective policy value of a special kind of endowment assurance (which has a reversionary bonus). When they calculate it, they do not include the survival benefit at time t. I find this strange since our textbook says that it is convention that benefits at time t should be included but not premiums at time t. Unfortunately I cannot attach the memo since the file is too big.