CAA Global Module-0 Exam : Entry exam of the Certified Actuarial Analyst qualification

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CAA Global Module-0 Exam Syllabus Topics:

CAA Global Entry exam of the Certified Actuarial Analyst qualification Sample Questions:

1. Identify which of the following statements is correct.
A continuous random variable is one that:

A) can take one of an infinite number of values.
B) can take one of a finite number of values
C) can only take positive values.
D) must be approximated using a discrete random variable.

2. A set of 17 observed values is being studied.
Identify which of the following statements is/are true.
I The median must be equalto one of the observed values.
II. The mean could be different from all of the observed values.
Ill If the observations are positively skewed, then the mean is less than the median IV. More than one mode is not possible.

A) I only
B) I and II only
C) III only
D) II and IV only

3. A snack bar does not give an itemised bill tor drinks In the past three visits, the total bills have been:
1) Three teas, two coffees and one lemonade cost £9.80
2) One tea four coffees and two lemonades cost £13.60
3) Two teas, two coffees andtwo lemonades cost£10
Calculate the price for a single coffee, given the prices have been the same for the three visits.

A) £1.20
B) £2.40
C) £2.05
D) £2.48

4. Identify which of the following quantities can always be derived from a box plot of a data set.
I.Mean
II.Median
III. Mode
IV. Range
V.Sample size

A) I and II only
B) IV and V only
C) I and III only
D) II and IV only

5. Identify which of the following statements about statistical measures for a set of data is false.

A) The sample variance is always smaller than or equal to the largest value.
B) The range can be greater than the largest value.
C) The range is always greater than or equal to zero.
D) The sample variance is always greater than or equal to zero.

Solutions: