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北美精算师考试soa历年真题奉送——November2003Course5（1）

来源：高顿网校 2014-07-18

　　高顿网校的网友们，有在这里路过的吗？走过路过千万别错过。下面是精挑细选出来的北美精算师考试soa历年真题奉送——November2003Course5（1）。
　　COURSE 5

　　MORNING SESSION

　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES

　　SECTION A-WRITTEN ANSWER

　　COURSE 5: Fall 2003 - 2 - GO ON TO NEXT PAGE

　　Morning Session

　　**BEGINNING OF EXAMINATION 5**

　　MORNING SESSION

　　1. (5 points) A large employer is considering offering a private pension plan.

　　(a) Describe the reasons for offering such a plan.

　　(b) Describe the process involved in designing and implementing such a plan.

　　2. (5 points)

　　(a) For basic group term life insurance, briefly describe each of the following items:

　　(i) Typical plan designs offered

　　(ii) Eligibility provisions

　　(iii) Continuity of coverage provisions

　　(b) Briefly describe how supplemental group term life insurance is different from

　　basic group term life insurance with respect to:

　　(i) Typical plan designs offered

　　(ii) Eligibility provisions

　　(iii) Continuity of coverage provisions

　　COURSE 5: Fall 2003 - 3 - GO ON TO NEXT PAGE

　　Morning Session

　　3. (5 points)

　　(a) Describe the reasons a life insurance company may reinsure its risk.

　　(b) ABC Life Insurance Company has a 40% quota share reinsurance treaty on a first

　　dollar basis. Its retention limit is $500,000 per policy.

　　Policy 1 Policy 2

　　Net Amount at Risk $750,000 X

　　Amount Retained R Y

　　Amount Reinsured on a First Dollar Basis S Z

　　Amount Reinsured on an Excess Basis T $100,000

　　Calculate the missing values in the table above.

　　Show all work.

　　4. (5 points) Explain the U.S. laws and regulations with respect to market conduct that

　　apply to a life insurance company and its agents.

　　5. (6 points) Mary and John, respectively 45 and 42 years old, are considering the purchase

　　of a non-participating whole life, joint last-to-die policy, paid-up at first death with:

　　? a 5 year term individual rider life insurance convertible and renewable up

　　to age 65 for Mary and John;

　　? a Critical Illness rider covering 50 illnesses for Mary and John;

　　? a Disability income rider providing a lifetime benefit with a 2 week

　　waiting period for Mary and John.

　　(a) Describe briefly the policy and its riders.

　　(b) Describe alternatives to each coverage that could reduce the cost to Mary and

　　John.

　　COURSE 5: Fall 2003 - 4 - GO ON TO NEXT PAGE

　　Morning Session

　　6. (7 points) For a defined benefit pension plan, you are given:

　　Pension plan formula:

　　1.5% of final year’s salary for each year of service up to 10 years, plus

　　2.0% of final year’s salary for each year of service after 10 years.

　　Interest Rate 6%

　　Salary Growth Rate 4%

　　Pre-retirement decrements None

　　Assumed retirement age 65

　　(12)

　　a&&65 12

　　Assets at 1/1/2003 300,000

　　Assets at 1/1/2004 320,000

　　Contribution made on 12/31/2003 5,000

　　Funding method Projected unit credit

　　Employee Age at Hire Age on 1/1/2003 Salary on 1/1/2003

　　A 30 40 30,000

　　B 30 60 50,000

　　(a) Calculate the unfunded accrued liability at 1/1/2003.

　　(b) The actual accrued liability on 1/1/2004 is 350,000.

　　Calculate the total experience gain/loss as of that date.

　　Show all work.

　　COURSE 5: Fall 2003 - 5 - GO ON TO NEXT PAGE

　　Morning Session

　　7. (5 points) For a property and casualty insurance policy issued January 1, 2000, you are

　　given:

　　Effective Date Rate Change

　　May 1, 2000 +5%

　　November 1, 2000 +10%

　　Calendar Year

　　Earned Premium

　　Expected effective incurred losses, trended

　　and developed through December 31, 2002

　　2000 120,000 100,000

　　2001 130,000 110,000

　　2002 140,000 120,000

　　Expense ratio: 30%

　　Present average manual rate: 45

　　Assume all policies have a one-year term and the premium is uniformly

　　distributed.

　　Calculate the indicated average gross rate as of January 1, 2003.

　　Show all work.
　　高顿网校之名人信念：光并非太阳的专利，你也可以发光。

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