problem 1:

(a) What do you understand by the phrase ethics?

(b) The most significant parts of normative ethical theories are values, virtues and norms. Illustrate out these parts.

(c) Discuss and illustrate out Utilitarianism as one of foundations of ethical theories.

(d) Illustrate out the main provisions which normally appear in the Code of Ethics for Actuaries.

problem 2:

(a) Discuss and illustrate out the attributes of a professional.

(b) What are the major provisions of Code of Professional Conduct for actuaries?

problem 3:

Actuaries normally use numerous kinds of models while performing their professional duties.

(a) What are the numerous types of models normally employed by Actuaries?

(b) Illustrate out the nature of actuarial models.

(c) Discuss and illustrate out the role of Actuary in selection and application of actuarial models.

problem 4:

(a) Discuss and illustrate out the role and responsibilities of actuary.

(b) Maintaining a discipline among professionals is the concern for every body of the professionals. How does the profession of actuaries translate such concern in practice and in theory?