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Question 1 (8 marks] An actuary has been asked to carry out a small, one-off investigation for a client, which will require the use of
Question 1 (8 marks] An actuary has been asked to carry out a small, one-off investigation for a client, which will require the use of a model. Discuss the factors the actuary should take into account when considering how to approach the development of this model and choosing the source of the model Hint: three sources for the model. Think about costs/time. Consider accuracy and why the investigation is being undertaken
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