高顿项目

国内财会

国际财会

金融证书

公务员

考研

考研

继续教育

继续教育

在职硕博

学历学位

国企求职

军队文职

军队文职

职业提升

语言培训

出国留学

海外留学

SOA历年真题November2004Course5（二）——北美精算师考试

来源：高顿网校 2014-07-28

　　以下是SOA历年真题November2004Course5（二）——北美精算师考试，全因为请耐心看下去哦。高顿网校小编也因此花了好久才制作完成的。
　　COURSE 5: Fall 2004 - 38 - GO ON TO NEXT PAGE

　　Morning Session

　　32. For an automobile insurance policy, Other Than Collision (OTC) premiums usually vary

　　for all of the following EXCEPT:

　　(A) Age of policyholder

　　(B) Territory

　　(C) Expectation as to ease of damage to vehicle

　　(D) Vehicle value

　　(E) Cost to repair vehicle

　　33. Group supplemental life plans differ from basic group life coverage in all of the

　　following ways EXCEPT:

　　(A) Minimum participation limits are more liberal

　　(B) Evidence of insurability is more stringent

　　(C) Suicide exclusion is common

　　(D) If a disability provision is included, it is usually limited to waiver of premium

　　(E) Contributions are generally subsidized by the employer

　　COURSE 5: Fall 2004 - 39 - GO ON TO NEXT PAGE

　　Morning Session

　　34. In the US, a policyholder can, under certain conditions, perform all of the following

　　without incurring taxable income EXCEPT:

　　(A) Exchange a life insurance policy for a life insurance policy

　　(B) Exchange a life insurance policy for an annuity policy

　　(C) Exchange an annuity policy for an annuity policy

　　(D) Exchange an annuity policy for a life insurance policy

　　(E) Take a policy loan against a life insurance policy

　　35. Regarding the Health Insurance Portability and Accountability Act (HIPAA), all of the

　　following are true EXCEPT:

　　(A) Restricts post-issue underwriting during claims adjudication process

　　(B) Defines a small employer group

　　(C) Requires underwriters to offer insurance to all groups regardless of

　　industry/occupation

　　(D) Requires HMOs to offer all major medical and comprehensive health insurance

　　products on a guaranteed acceptance and renewal basis

　　(E) Restricts application of pre-existing condition limitation or exclusions for

　　individual employees who have had continuous coverage for more than 12

　　months

　　COURSE 5: Fall 2004 - 40 - GO ON TO NEXT PAGE

　　Morning Session

　　36. Under the traditional unit credit actuarial cost method, all of the following affect future

　　normal costs EXCEPT:

　　(A) aging of active employees

　　(B) actual withdrawal experience

　　(C) actual death experience

　　(D) actual number of new employees

　　(E) actual investment performance

　　37. In the Accumulation Reserve method used for universal life insurance, all of the

　　following can be used to amortize acquisition expenses EXCEPT:

　　(A) Income from surrender charges

　　(B) Premiums

　　(C) Interest margins

　　(D) Cost of insurance margins

　　(E) Expense margins

　　COURSE 5: Fall 2004 - 41 - GO ON TO NEXT PAGE

　　Morning Session

　　USE THIS PAGE FOR YOUR SCRATCH WORK

　　COURSE 5: Fall 2004 - 42 - GO ON TO NEXT PAGE

　　Morning Session

　　38. Each of questions 38 through 40 consist of two lists. In the list at the left are two items,

　　lettered X and Y. In the list at the right are three items, numbered I, II, and III. ONE of

　　the lettered items is related in some way to EXACTLY TWO of the numbered items.

　　Indicate the related items using the following answer code:

　　Lettered Item

　　Is Related to Numbered Items

　　(A)

　　X

　　I and II only

　　(B)

　　X

　　II and III only

　　(C)

　　Y

　　I and II only

　　(D)

　　Y

　　I and III only

　　(E)

　　The correct answer is not given by (A), (B), (C) or (D).

　　38. X. Anti-selection I. Function of the inherent degree of

　　fluctuation in the benefit and in the

　　volume of business

　　Y. Claims volatility II. Addressed through the initial plan

　　design

　　III. Limited by provisions restricting

　　payment of claims

　　COURSE 5: Fall 2004 - 43 - STOP

　　Morning Session

　　39. X. Hazard I. Collision

　　Y. Peril II. Poor wiring

　　III. Dishonesty

　　40. X. Variable universal life products I. Passes full investment risk to the

　　policyholder

　　Y. Unitised-with-profit products II. Uses bid/offer spread as hidden

　　expense charge

　　III. Uses front-en

　　d loads to cover

　　acquisition costs

　　COURSE 5: Fall 2004 - 44 - GO ON TO NEXT PAGE

　　Afternoon Session

　　COURSE 5

　　AFTERNOON SESSION

　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES

　　SECTION A-WRITTEN ANSWER

　　COURSE 5: Fall 2004 - 45 - GO ON TO NEXT PAGE

　　Afternoon Session

　　**BEGINNING OF EXAMINATION**

　　COURSE 5

　　AFTERNOON SESSION

　　Beginning With Question 9

　　9. (5 points) In Canada, describe the design of extended health plans in the group market.

　　10. (3 points) Describe the reasons why a plan sponsor would switch from a defined benefit

　　pension plan to a defined contribution pension plan.

　　COURSE 5: Fall 2004 - 46 - GO ON TO NEXT PAGE

　　Afternoon Session

　　11. (5 points) You are pricing the latest version of a life insurance company’s flexible

　　premium universal life (UL) product.

　　With respect to the company, you are given the following:

　　?? Superior ratings from the major ratings agencies

　　?? Strong reputation in the estate planning market

　　?? Target market consists of affluent, sophisticated retirees

　　?? Average face amount on policies is significantly higher than the industry

　　average

　　?? UL sold for many years

　　?? New UL product is similar to its best-selling product

　　The new product has the following features:

　　Commissions:

　　First-year: 50% of first-year premium up to the target commissionable

　　premium, plus 3% of first-year premium in excess of the

　　target commissionable premium

　　Renewal: 3% of premium in policy year 2 onwards

　　Chargeback: 100% of first-year commissions for lapses in the first 3

　　policy years

　　Bonus refund: return of COI charges at the end of policy year 25

　　Surrender charges: 15% in policy year 1, grading linearly to 0% in policy year

　　16

　　(a) Describe how the information given above would influence your lapse

　　rate assumption.

　　(b) Describe the effect of the surrender charge on the investment risk and

　　the investment strategy for this product.

　　COURSE 5: Fall 2004 - 47 - GO ON TO NEXT PAGE

　　Afternoon Session

　　12. (7 points) For a property and casualty insurance company, you are given the following:

　　Gross premium rates In effect for 6 months

　　Policy length 3 months

　　Trend factors Increase at an exponential rate

　　δ 0.133

　　Distribution of claims Uniform

　　Additional loadings:

　　Commissions 0.00

　　General Expenses 12.0%

　　Taxes 3.5%

　　Profit 4.0%

　　Incurred losses for reported claims by development year

　　Accident Year Development Year

　　0 1 2

　　2001 10,432,532 12,414,789 12,787,542

　　2002 12,503,672 15,248,731

　　2003 14,813,156

　　No further development beyond year two.

　　Accident Year

　　Earned Exposure Units

　　Number of Incurred

　　Claims

　　Credibility Factor

　　2001 106,454 5,569 0.0%

　　2002 107,127 5,603 40.0%

　　2003 107,962 5,691 60.0%

　　(a) (2 points) Calculate the expected ultimate incurred losses by accident year.

　　(b) (5 points) Calculate the gross premium rate that will take effect at May 1,

　　2004.

　　COURSE 5: Fall 2004 - 48 - STOP

　　Afternoon Session

　　13. (5 points) With respect to group health insurance:

　　(a) List the criteria that should be considered when underwriting large groups.

　　(b) Indicate why these criteria are important.

　　14. (5 points) Describe the considerations in group insurance financial reporting for:

　　(a) Alternative funding arrangements

　　(b) Administrative arrangements

　　15. (5 points) In the context of U.S. insurance company solvency regulation:

　　(a) Describe the role of State Guaranty Funds.

　　(b) Explain the effect of reinsurance regulation.

　　16. (5 points) With respect to group long term disability and group long term care insurance

　　contracts:

　　(a) Describe the features that are important when calculating claim reserves.

　　(b) Describe the considerations in preparing an actual to expected (A/E) cl

　　aim

　　termination rate study.

　　(c) Describe the steps in calculating IBNR reserves by the loss ratio method.

　　**END OF EXAMINATION**

　　AFTERNOON SESSION
　　高顿网校之短句汇编：用强烈欲望作为达成梦想的后盾，使欲望变得狂热，让它成为你脑中最重要的一件事。

版权声明：本条内容自发布之日起，有效期为一个月。凡本网站注明“来源高顿教育”或“来源高顿网校”或“来源高顿”的所有作品，均为本网站合法拥有版权的作品，未经本网站授权，任何媒体、网站、个人不得转载、链接、转帖或以其他方式使用。经本网站合法授权的，应在授权范围内使用，且使用时必须注明“来源高顿教育”或“来源高顿网校”或“来源高顿”，并不得对作品中出现的“高顿”字样进行删减、替换等。违反上述声明者，本网站将依法追究其法律责任。本网站的部分资料转载自互联网，均尽力标明作者和出处。本网站转载的目的在于传递更多信息，并不意味着赞同其观点或证实其描述，本网站不对其真实性负责。如您认为本网站刊载作品涉及版权等问题，请与本网站联系(邮箱fawu@gaodun.com，电话：021-31587497)，本网站核实确认后会尽快予以处理。

展开全文咨询在线

严选名师全流程服务

其他人还搜了热门推荐