[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-399047-105":59,"doc-detail-399047-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","fundamentals-of-actuarial-mathematics-long-term-topics-sample-questions-july-22-2024","Fundamentals of Actuarial Mathematics - Long-Term Topics - Sample Questions - July 22, 2024","","Sample questions for long-term topics on the Fundamentals of Actuarial Mathematics (FAM) exam, organized according to the Society of Actuaries’ recommended resources. Question numbering follows the X.Y format tied to life contingent risks chapters (AMLCR, 3rd Edition). Many items are adapted from prior MLC and LTAM exams (2012–2017), with updates to assumptions and terminology, including substitution of ILT with SULT and changes such as “policy value” replacing “reserve.” Includes version history and example multiple-choice questions across underwriting, product evolution, contract identification, and risk modeling topics.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/fundamentals-of-actuarial-mathematics-long-term-topics-sample-questions-july-22-2024/399047/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/fundamentals-of-actuarial-mathematics-long-term-topics-sample-questions-july-22-2024/399047.png","ImageObject",300,407,{"name":92,"@type":93},"Finn","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",13,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"How are question numbers formatted in these FAM-L sample questions?","Question",{"text":113,"@type":114},"All question numbers use the X.Y format, where X identifies the AMLCR chapter and Y is the question number within that source.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What changed from the MLC exams when adapting questions for the FAM exam?",{"text":118,"@type":114},"Some questions replace the Illustrative Life Table (ILT) with the Standard Ultimate Life Table (SULT) and update terminology to match current FAM terms, such as using “policy value” instead of “reserve.”",{"name":120,"@type":111,"acceptedAnswer":121},"Are all sample questions drawn from the 2012–2017 MLC exams?",{"text":122,"@type":114},"No. Most are based on prior MLC/LTAM questions from 2012–2017, but the document also includes additional sample questions not directly derived from that period.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},399047,1790548457,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":145,"read_time":146,"preview_page_count":4},34359740700684,"https://ap-avatar.wpscdn.com/avatar/1f400023980c374ae676?_k=1777273430885731487","Fundamentals of Actuarial Mathematics –  \nLong-Term Topics  \nSample Questions  \nJuly 22, 2024  \nThis note contains sample questions for long-term topics on the Fundamentals of Actuarial Mathematics FAM) exam. The questions are sorted by the Society of Actuaries’ recommended resources for this exam. All question numbers follow the format of X.Y, where X identifies the source and Y is the question number from that source. X refers to the chapter of Actuarial Mathematics for Life Contingent Risks, 3rd Edition (AMLCR).  \nMany of these questions are based on questions that have previously appeared on MLC exams from 2012 through 2017. These are identified by a parenthetical expression at the end of such questions. Questions that have been modified have been modified to:  \n• Replace the Illustrative Life Table (ILT) which was used on the MLC exam with the Standard Ultimate Life Table (SULT), which will be used with the FAM exam  \n• Change language to reflect the current terms used on the FAM exam. For example, consistent with AMCLR, we now use “policy value” instead of“reserve”in many cases where prior exams would have used “reserve.”  \nThese sample questions come from past exams, including MLC and LTAM. These questions are representative of the types of questions that might be asked of candidates sitting for the FAM exam. These questions are intended to represent the depth of understanding required of candidates. The distribution of questions by topic is not intended to represent the distribution of questions on the FAM exam  \nThere are also some additional sample questions that are not directly based on prior exam questions from 2012 through 2017.  \nVersions:  \nJuly 19, 2024 Questions deleted for material removed from the syllabus (questions 3.10, 3.17, 18.1-18.11)  \nDecember 16, 2022 Added select questions from the Fall 2022 FAM-L exam and updated term “modified reserve” to “modified net premium reserve”  \nAugust 8, 2022 Updated term “expense reserve” to “expense policy value” and corrected answer choices for question 18.4  \nJuly 29, 2022 Original version for FAM-L  \nCopyright © Society of Actuaries  \n1.1 Determine which of the following statements is NOT true with regard to underwriting.  \n(A) Life insurance policies are typically underwritten to prevent adverse selection.  \n(B) The distribution method affects the level of underwriting.  \n(C) Single premium immediate annuities are typically underwritten to prevent adverse selection.  \n(D) Underwriting may result in an insured life being classified as a rated life due to the insured’s occupation or hobby.  \n(E) A pure endowment does not need to be underwritten to prevent adverse selection.  \n1.2. Over the last 30 years, life insurance products and the management of the associated risks have radically changed and become more complex.  \nDetermine which of the following is NOT a reason for this change.  \n(A) More sophisticated policyholders.  \n(B) More competition among life insurance companies.  \n(C) More computational power.  \n(D) More complex risk management techniques.  \n(E) Separation of the savings elements and the protection elements of life insurance products.  \n1.3. A company offers a modern insurance contract that has the following features:  \ni) A benefit linked to the performance of an investment fund  \nii) A guaranteed minimum return on the premiums paid  \niii) A guaranteed minimum death benefit payable if the insured dies before the contract matures  \niv) A contract term of 7 years  \nDetermine the type of contract offered.  \n(A) Term life insurance  \n(B) Universal life insurance  \n(C) Variable annuity  \n(D) Endowment insurance  \n(E) Reversionary annuity [Question on October 2022 FAM-L Exam]  \n1.4. A self-employed small business owner purchased an insurance contract that will pay a benefit equal to 70% of salary in the event that the owner becomes sick and cannot work. The contract will cease at retirement age.  \nDetermine which of the following contracts provides these ","cbCaigZ4IAKAp4HV","https://ap.wps.com/l/cbCaigZ4IAKAp4HV","pdf",510170,126,"English","# Overview\n## Version history\n# Sample questions\n## Underwriting and product features\n## Mortality, survival models, and calculations","[{\"question\":\"How are question numbers formatted in these FAM-L sample questions?\",\"answer\":\"All question numbers use the X.Y format, where X identifies the AMLCR chapter and Y is the question number within that source.\"},{\"question\":\"What changed from the MLC exams when adapting questions for the FAM exam?\",\"answer\":\"Some questions replace the Illustrative Life Table (ILT) with the Standard Ultimate Life Table (SULT) and update terminology to match current FAM terms, such as using “policy value” instead of “reserve.”\"},{\"question\":\"Are all sample questions drawn from the 2012–2017 MLC exams?\",\"answer\":\"No. Most are based on prior MLC/LTAM questions from 2012–2017, but the document also includes additional sample questions not directly derived from that period.\"}]","Fundamentals of Actuarial Mathematics - Long-Term Topics - Sample Questions - July 22, 2024 | PDF",1790491988,318]