From: kristine
Remote Name: 192.55.52.4
Date: 2004-03-28
Time: 01:32:13 -0500
in a particular lottery, 3,000,000 tickets are sold each week for 50 cents apiece. out of the 3,000,000 tickets, 12,006 are drawn and awarded prizes. twelve thousand $25 prizes, four $10,000 prizes, one $50,000 prize, and one $200,000 prize. If you purchased a single ticket each week, what is the expected value of this game to you?
From: FSA
Remote Name: 66.1.113.242
Date: 2002-09-12
Time: 21:38:06 -0400
You did strike a nerve, because it demonstrates the ignorance of the academic community about the actuarial profession. Your professor is no doubt bright but he is quite out of touch. Do check the ISBN numbers, there are two editions out Bowers out. You want the newer edition. Also check the exam syllabus for the numerous other books required to study for these exams. Bowers does not cover any material in SoA exams 1, 2, 4, 5, 6, 7 or 8 and only covers part of the information in exam 3. Maybe next time before you shoot your mouth off again, remember this: I have been through the exams and you would be much better to listen to a professional actuary who knows what is needed than a professor who thinks you can get everything you need from one book.