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IFoA_CAA_M0 Module 0 - Entry Exam Questions and Answers

Questions 4

Define the standard deviation of a finite data set.

Options:

A.

The standard deviation is the sum of the difference between each data point and its expected value.

B.

The standard deviation is the product of the difference between each data point and its expected value.

C.

The standard deviation is the square root of the product of the squared difference between each data point and its expected value.

D.

The standard deviation is the square root of the average of the squared difference between each data point and its expected value.

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Questions 5

Solve the following equation for x:

 

12x +10 = 3x - 8

Options:

A.

x = -9/2

B.

x = -2

C.

x = 2

D.

x = 9/2

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Questions 6

The table below shows the distribution of the number of people in each household in a village.

 

 

Determine which of the following inequalities is true for the number of people living in a house.

Options:

A.

Mode < Median < Mean

B.

Mode < Mean < Median

C.

Median < Mean < Mode

D.

Median < Mode < Mean

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Questions 7

A weekly pet insurance premium is given by a solution of the following equation:

 

 4x2 - 11x - 3 = 0

 

Calculate the premium.

Options:

A.

-£1.00

B.

-£0.25

C.

£0.75

D.

£3.00

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Questions 8

The random variable X has the following probability density function ("PDF"):

 

 

 

 Calculate: P(x ≥ 1.5)

Options:

A.

0.164

B.

0.250

C.

0.320

D.

0.484

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Questions 9

A and B are the stationary points of f(x).  

 

f(x) = 2x3 - x2 - 8x + 8

A = (-1,13)

B = (4/3,8/27)

 

Determine whether each stationary point is a maximum, minimum or point of inflexion.

Options:

A.

A is a maximum

B is a minimum

B.

A is a maximum

B is a point of inflexion

C.

A is a minimum

B is a maximum

D.

A is a point of inflexion

B is a minimum

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Exam Code: IFoA_CAA_M0
Exam Name: Module 0 - Entry Exam
Last Update: Apr 28, 2024
Questions: 64
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