Description: This paper proves the formula representing the present value of an annuity of 1 per year payable m times per year as l - v divided by the interest factor that corresponds to the timing of the payments is seen to hold regardless of the relationship between the payment frequency and the compounding frequency. From the Actuarial Research Clearing House, 1994, Vol. 2.

Description: Discusses multi-scenario [stochastic] cash-flow testing for adequacy of reserves. Session 2 of the 1991 Valuation Actuary Symposium.