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SOA精算师考试——真题甄选November2004Course8G（四）

来源：高顿网校 2014-07-25

　　全国各地准北美精算师的年轻人们，来高顿网校北美精算师考试专栏冒个泡哦，评论下我们的文章笔记和例题哦。
　　16. (4 points) You are the reserving actuary for Wonderful Life. One of your actuarial

　　students has observed that the reserve for one claimant has a different reserve/benefit

　　ratio compared to the other claimants. In addition to Table GLD-8b you have been given

　　the following information about the claimant:

　　Date of Birth 03/01/44

　　Gender Male

　　COLA 0%

　　Date of Disability 03/01/03

　　Valuation Interest Rate 5%

　　Elimination Period 3 months

　　Benefit Period to age 65

　　Benefit Percentage 66.67% of salary

　　Social Security Benefit $1,300 monthly (Frozen)

　　Salary $72,000 annually

　　Assume all benefits are paid at the end of the time period for which there are termination

　　rates.

　　(a) (3 points) Calculate the disabled life reserve as of 12/31/04 for this claimant.

　　Show your work.

　　(b) (1 point) Discuss factors which would make the reserve/benefit ratio for this

　　claimant different.

　　COURSE 8: Fall 2004 - 13 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　Questions 15 – 17 pertain to the Case Study

　　17. (4 points) You are the pricing actuary for Wonderful Life’s LTC product.

　　(a) Describe factors used to price a LTC product.

　　(b) List data sources available to assist with reviewing the current pricing.

　　(c) Compare the LTC product line to Wonderful Life’s other products with respect to

　　the following:

　　i. Sales force

　　ii. Rating practices

　　iii. Underwriting practices

　　iv. Reserving practices

　　COURSE 8: Fall 2004 - 14 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　18. (4 points) You are the pricing actuary for an insurer that sells a substantial amount of

　　Medicare Supplement business. Highlights of the recent Medicare legislation are as

　　follows:

　　? Medicare will begin offering a voluntary prescription drug benefit (Part D).

　　- New Medicare Supplement policies with prescription drug coverage may

　　no longer be sold.

　　- Existing policies with prescription drug coverage for persons that enroll in

　　Part D must:

　　(a) Renew the policy with a lower premium that excludes prescription

　　drugs; or

　　(b)Enroll in a different policy (guaranteed issue).

　　- Existing policies with prescription drug coverage may be renewed if the

　　person does not enroll in Part D.

　　? New standardized plans “K” and “L” will be created and include higher costsharing

　　than existing products.

　　? The Part B deductible is increasing to $110.

　　As a result of the legislation, you expect increased competition from HMO’s.

　　(a) (3 points) Discuss the pricing considerations for your company’s Medicare

　　Supplement policies and how your assumptions are impacted by the new

　　legislation.

　　(c) (1 point) List the data sources that might be used to assess the pricing changes.

　　COURSE 8: Fall 2004 - 15 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　19. (8 points) You are the new consulting actuary for Slide Rule Inc., a company with a

　　flexible benefits plan. Prior to adopting a flexible benefits plan in 2003, Slide Rule Inc.

　　provided all employees dental coverage with Option 2 benefits. The flex plan was

　　originally priced with the help of an Elbonian consultant, who was not an actuary. Actual

　　claims have been higher than expected, partly due to adverse selection.

　　At the kick-off meeting with the Slide Rule Inc. management team, you learned the

　　following about the team members’ pricing objectives:

　　? Benefits Administrator wants realistic prices, equal credits, and no losers.

　　? CFO wants realistic prices, no losers, and no company cost increase over 2003

　　actual.

　　? Vice President of Human Resources wants equal credits, no losers, and no

　　company cost increase over 2003 actual.

　　You have also been given the following dental plan design and pricing information:

　　Option Design

　　Relative

　　Value

　　2003

　　Expected

　　Incurred

　　Claims

　　2003

　　and 2004

　　Price Tags

　　2003

　　and 2004

　　Flex Credits

　　Actual

　　Enrollment

　　2003

　　Actual

　　Incurred

　　Claims

　　1 50% S: $250

　　F: $750

　　S: $150

　　F: $150

　　$300 S: 50

　　F: 100

　　$35,000

　　2 80% S: $400

　　F: $1,200

　　S: $250

　　F: $250

　　$300 S: 50

　　F: 50

　　$80,000

　　3 100% S: $500

　　F: $1,500

　　S: $300

　　F: $300

　　$300 S: 100

　　F: 150

　　$550,000

　　Dental inflation is expected to be 5% per year, and the expected and actual claim figures

　　include expenses and taxes. Plan design and enrollment are not expected to change.

　　(a) (1 point) Compare the current pricing design against the various pricing

　　objectives.

　　(b) (1 point) Determine the 2003 expected and actual employer cost. Show your

　　work.

　　(c) (4 points) Determine three different pricing approaches for 2005 that might

　　address the objectives of each of the three team members. In your analysis,

　　include 2005 price tags and credits and indicate the advantages and disadvantages

　　of each approach.

　　(d) (2 points) Describe the design and pricing mechanisms that could be added to a

　　flex plan to minimize adverse selection.

　　COURSE 8: Fall 2004 - 16 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　20. (5 points) Company XYZ has 500 full-time employees, and 100 part-time employees.

　　XYZ has adopted the following severance policy for its employees as of 1/1/2004:

　　Years of Service Severance benefit (multiple

　　of base monthly salary)

　　Distribution by full-time

　　Employee count

　　< 2 years 0 25%

　　2 but < 6 years 1 40%

　　6 but < 10 3 25%

　　10 or more 6 10%

　　Severance is paid regardless of cause of employee termination. Benefits paid in 2004

　　were $375,000.

　　The benefit obligation as of 12/31/04 is based on:

　　Long-term discount rate 5%

　　Benefit Obligation $4,000,000

　　2004 Benefits Earned $500,000

　　Average remaining years of service 8 years

　　(a) Discuss when FAS 112 does and does not apply and the accrual rules for FAS 112

　　accounting.

　　(b) Determine whether FAS 112 applies to XYZ and justify your response.

　　(c) Compare the income and balance sheet items if Company XYZ is to (i) recognize

　　the full liability, or (ii) defer recognition of the liability. Show your work.

　　COURSE 8: Fall 2004 - 17 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session
　　高顿网校之短句汇编：以吾人数十年必死之生命，立国家亿万年不死之根基，其价值之重可知。 —— 孙中山

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