Actuarial Outpost
 
Go Back   Actuarial Outpost > Exams - Please Limit Discussion to Exam-Related Topics > SoA/CAS Preliminary Exams > Exam 3/MLC - Actuarial Models
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

CANADIAN ACTUARIAL JOBS

Reply
 
Thread Tools Display Modes
  #1  
Old 05-09-2011, 04:33 PM
lloopy lloopy is offline
Member
CAS SOA
 
Join Date: Oct 2009
Location: Denver, CO
Studying for MFE or C
College: Alumni, Indiana University
Posts: 188
Blog Entries: 1
Default Illustrative Service Table

Can anyone explain this to me? I don't think I've used it in a question in the past few months.

Is it just an example of a discrete multiple-decrement table? Guessing based on another post here,
= # of people alive at the start of each year.,
= # of people who died,
= # of people who withdrew,
= # of people who retired early, and
is the number of people who retired?

A simple "yes" or better explanation for a "no" would be great.
__________________
P FM MLC MFE C VEE {ECON STAT FINANCE} FAP APC
Reply With Quote
  #2  
Old 05-09-2011, 04:43 PM
abt5 abt5 is offline
Member
CAS
 
Join Date: Dec 2010
Favorite beer: ice ice baby
Posts: 5,458
Default

yes
Reply With Quote
  #3  
Old 05-09-2011, 04:46 PM
DyalDragon's Avatar
DyalDragon DyalDragon is offline
Member
SOA
 
Join Date: Apr 2009
Location: Here
Studying for the hell of it...
College: AASU
Favorite beer: This one...
Posts: 21,064
Default

Quote:
Originally Posted by lloopy View Post
Can anyone explain this to me? I don't think I've used it in a question in the past few months.

Is it just an example of a discrete multiple-decrement table? Guessing based on another post here,
= # of people alive at the start of each year.,
= # of people who died,
= # of people who withdrew,
= # of people who retired early, and
is the number of people who retired?

A simple "yes" or better explanation for a "no" would be great.
is the third "retired early"? i guess it doesn't matter what they stand for, since if they ask you a question about the table they will have to specify which decrement they want you to look at anyway
__________________
Quote:
Originally Posted by campbell
Anything you want done, baby
Reply With Quote
  #4  
Old 05-09-2011, 04:56 PM
actuary44's Avatar
actuary44 actuary44 is offline
Member
CAS
 
Join Date: Nov 2008
Location: Orange County, CA
Studying for CAS Exam 5
Posts: 919
Default

It's early retirement because they're assuming normal retirement age to start at 60. That's why the 3rd and 4th decrements don't overlap. But regardless, just use the table if you're asked a question about it. There's really no need to over-analyze what the decrements are. That's really beside the point.

Quote:
Originally Posted by DyalDragon View Post
is the third "retired early"? i guess it doesn't matter what they stand for, since if they ask you a question about the table they will have to specify which decrement they want you to look at anyway
__________________
ACAS: 5, 6 | FCAS: 7, 8, 9
VEEs: Finance, Statistics, Economics (Micro, Macro) | Online Courses: 1, 2
Prelims: 1/P, 2/FM, 3F/MFE, MLC, 4/C
Reply With Quote
  #5  
Old 05-09-2011, 06:02 PM
Math Math is offline
Member
 
Join Date: Jan 2011
Posts: 296
Default

its not a mere example, this is the table that you MUST use if the question says Decrements follow the Illustrative Service Table.
Reply With Quote
  #6  
Old 05-09-2011, 07:37 PM
lloopy lloopy is offline
Member
CAS SOA
 
Join Date: Oct 2009
Location: Denver, CO
Studying for MFE or C
College: Alumni, Indiana University
Posts: 188
Blog Entries: 1
Default

Quote:
Originally Posted by Math View Post
its not a mere example, this is the table that you MUST use if the question says Decrements follow the Illustrative Service Table.
That was my understanding. When I used the word "example" it's the same as saying that the Illustrative Life Table is an "example" of a life table. The ILT that is included with our exams doesn't necessarily reflect the demographic reality of some particular region, but it's what we use for exam questions.
__________________
P FM MLC MFE C VEE {ECON STAT FINANCE} FAP APC
Reply With Quote
  #7  
Old 05-09-2011, 08:22 PM
am_vanquish am_vanquish is offline
Member
SOA
 
Join Date: Mar 2007
Studying for the zombie apocalpyse
Favorite beer: Smithwick's
Posts: 722
Default

The decrements can be defined as anything within the problem. I've seen at least one question where the (i) decrement was disability rather than early retirement.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 02:11 AM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.16068 seconds with 7 queries