Question: Question 7 (9 marks) A fully discrete 3-premium years, 2-year deferred life insurance contract of $1000 is issued | 0.1, k = 0 to (91).

Question 7 (9 marks) A fully discrete 3-premium years, 2-year deferred

Question 7 (9 marks) A fully discrete 3-premium years, 2-year deferred life insurance contract of $1000 is issued | 0.1, k = 0 to (91). You are given that d = 10% and k1990 = { C, k = 1, ..., 5 10, otherwise (a) (2 marks) Define the loss random variable L. (b) (4 marks) Find the premium. (c)(3 marks) If the premium is 150, determine Pr[L

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