IFoA_CAA_M0 CAA Practice Questions| TestInsights

Question 1

X is a random variable with expected value E(X).

Identify which of the following isnot a valid method for calculating the variance of X.

AE[ X - E(X) ]2

BThe second moment of X minus the square of the first moment of X.

CE( X2) - [ E(X) ]2

DE( X2) - E(X)

Correct : D

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AE[ X - E(X) ]2

BThe second moment of X minus the square of the first moment of X.

CE( X2) - [ E(X) ]2

DE( X2) - E(X)

Question 2

A discrete random variable can only take the values 2,3,4 or 5. The probabilities associated with some of the outcomes are: P(X=2) = 0.2, P(X=3) = 0.3, P(X=5) = 0.1.

For a randomly drawn value of X, calculate P(X>3).

A0.1

B0.4

C0.5

D0.8

Correct : C

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A0.1

B0.4

C0.5

D0.8

Question 3

One of the two solutions to the equation is .

IFoA_CAA_M0 Exam Question 3 Exhibit 1

Determine the second solution.

IFoA_CAA_M0 Exam Question 3 Exhibit 2

AOption A

BOption B

COption C

DOption D

Correct : C

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AOption A

BOption B

COption C

DOption D

Question 4

The particular solution of the second-order difference equation

yn+2 - 6yn+1 + 8yn = 0 n 2

subject to the initial conditions y0 = 3 and y1 = 2may be written in the form

yn = A(2n) + B(4n) n 0.

Determine the values of (A, B).

A(-2, 5)

B(-2, 3)

C(-3, 2)

D(5, -2)

Correct : D

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A(-2, 5)

B(-2, 3)

C(-3, 2)

D(5, -2)

Question 5

Identify which of the following best describes the nature of a stationary point.

AIt is where the tangent of the graph of the function is horizontal.

BIt is the point where the maximum valueof the function is found.

CIt is the point where the minimum valueof the function is found.

DIt is the point where values of the function start to become more stable.

Correct : A

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AIt is where the tangent of the graph of the function is horizontal.

BIt is the point where the maximum valueof the function is found.

CIt is the point where the minimum valueof the function is found.

DIt is the point where values of the function start to become more stable.

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