Online Exam: High School

Actuaries in the U.S., Canada and other parts of the world earn professional credentials by passing a series of examinations. This Online Exam is designed to give you an idea of the types of questions you might encounter on the preliminary actuarial examinations administered by the Casualty Actuarial Society and Society of Actuaries. Please be sure to review the Actuarial Exams section of the Web Site, where you can access complete sample actuarial exams.

Answer the five multiple choice questions below, then click submit to see your results. If you are a college student or a working professional considering a career change, please take our College version of the Online Exam.

Mary has a lemonade stand. On Sunday, she sold 28 glasses of lemonade and 4 glasses of orange juice. On each subsequent day, she sold 2 fewer glasses of lemonade and 3 more glasses of orange juice. On what day of the week did she first sell more orange juice than lemonade?

A. Tuesday

B. Wednesday

C. Thursday

D. Friday

E. Saturday

An artist receives a revenue of R = x(100-x) dollars from the sale of x paintings. For what interval of sales will the revenue exceed $1875?

	A. –25 < x < 75
	B. 0 < x < 75
	C. –25 < x
	D. x < 75
	E. None of the above

The formula E = (0.66 x² -110.55 x + 4680.24)^1/2 is an approximate model for the remaining life expectancy E (in years) in the United States in 1998. The variable x represents current age.

John's remaining life expectancy is 44 years, and his wife Mary's is 50 years. Calculate the number years by which John is older than Mary.

	A. Less than 7
	B. At least 7 but less than 8
	C. At least 8 but less than 9
	D. At least 9 but less than 10
	E. More than 10

The following is a random sample of fire losses reported to an insurance company during a given year:

500	800	900	1000	1500	16000	3500	4000	5000	5000
6500	6900	9800	9900	10000	10000	12000	15000	20000	50000

Based only on this information, calculate insurance company's average saving per claim if policyholders will pay for the first 1500 of each loss.

	A. $235
	B. $940
	C. $1360
	D. $1285
	E. None of the above

Let P be a profit function given by P(x) = -x² + 50x - 25 for x >0, where x is the number of units sold. Due to production and labor problems, a new function Q(x) is used. The graph of Q is formed by translating the graph of P to the right two units and down three units.

Determine the revised profit function Q(x).

	A. Q(x) = -x² + 46x + 68
	B. Q(x) = -x² + 46x + 74
	C. Q(x) = -x² + 54x - 126
	D. Q(x) = -x² + 54x - 132
	E. Q(x) = -x² + 56x - 168