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

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

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

2. Identify which of the following statements about the mean of a data set is correct.

A) It is a measure of the spread of the data.
B) It is a measure of the range of the data.
C) It is a measure of the central tendency of the data.
D) It is a measure of the variability of the data.

3. Identify which of the following statements is not true about the probability density function of a continuous random variable.

A) Integrating it across its domain must produce an answer of 1.
B) It must be non-negative.
C) It could be greater than 1.
D) Differentiating it gives the cumulative distribution function.

4.
Calculate the minimum value of f.

A) -0.25
B) -0.50
C) 0.00
D) -0.75

5. Identify which of the following statements is not always true about a probability experiment.

A) The probability of an event must lie in [0,1].
B) The probability of an event occurring equals the number of outcomes in the event space divided by the total number of possible outcomes in the sample space.
C) The sum of the probabilities of all possible events could be more than 1
D) The sum of the probabilities of all possible outcomes must be 1.

Solutions: