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历年SOA真题November2003Course8M（第三部分）——北美精算师考试

来源：高顿网校 2014-07-28

　　历年SOA真题November2003Course8M（第三部分）——北美精算师考试请尽快消化掉，记不住的可以做笔记写下来吧。
　　Questions 2 – 8 pertain to the Case Study

　　7. (8 points) In addition to the information provided in Tables C-1, C-2, MM-1, MM-4a to

　　MM-6b, you have been given the following:

　　? Investment income and taxes are based on 2002 corporate levels

　　? Corporate after-tax Return on Equity (ROE) objective for 2003 = 15%

　　? Cost of Capital = 10%

　　? Risk-based surplus for Major Medical division is 18% of premium.

　　? Recast of Major Medical Division’s IBNR as of 12/31/99 is $50,000 more than

　　originally booked.

　　Total of MM-6a & 6b

　　Year Incurred and Paid

　　($1,000s)

　　Incurred Estimate

　　($1,000s)

　　IBNR Estimate

　　($1,000s)

　　2000 $1,004,700 $1,004,700 $0

　　2001 $1,125,200 $1,126,224 $1,024

　　2002 $1,121,300 $1,378,977 $257,677

　　(a) (1 point) Describe the importance of using recast data in financial management.

　　(b) (3 points) Convert the corporate ROE objective into the equivalent:

　　(ii) corporate underwriting gain objective

　　(iii) corporate loss ratio objective

　　percentage of capital invested for the Major Medical Division for 2000, 2001 and

　　2002. Show your work.

　　COURSE 8: Fall 2003 -6- STOP

　　Health, Group Life & Managed Care

　　Morning Session

　　Questions 2 – 8 pertain to the Case Study8. (6 points) You are evaluating Wonderful Life’s reserves and believe the claim lag pattern

　　may have recently changed.

　　(a) Calculate the age-to-age development factors based on 9/2001 to 12/2002

　　emerging experience using claims paid in the most recent two months on Table

　　MM-4b.

　　(b) Estimate incurred claims for December 2002 assuming all claims are complete

　　after 15 months.

　　estimate incurred claims.

　　9. (5 points) You are the pricing actuary for the division of LTDC Life Insurance selling

　　group long term disability and group long term care products. Given the recent

　　fluctuations in the experience, you are considering implementing a reinsurance agreement

　　but must convince your Vice-President that it is needed.

　　(a) Explain the different approaches LTDC Life can use to reinsure its Group LTD

　　and LTC products.

　　(b) Explain risk characteristics of each product line that make the use of reinsurance

　　attractive.

　　**END OF EXAMINATION*
　　高顿网校之名人感触：不是每个人都应该像我这样去建造一座水晶大教堂，但是每个人都应该拥有自己的梦想，设计自己的梦想，追求自己的梦想，实现自己的梦想。梦想是生命的灵魂，是心灵的灯塔，是引导人走向成功的信仰。有了崇高的梦想，只要矢志不渝地追求，梦想就会成为现实，奋斗就会变成壮举，生命就会创造奇迹。——罗伯·舒乐

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