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November2003Course8M真题（三）——北美精算师考试SOA

来源：高顿网校 2014-08-01

　　November2003Course8M真题（三）——北美精算师考试SOA，这是很重要的考点，请勿轻视。
　　4. (5 points)

　　You are the chief actuary for Wonderful Life. You must determine whether

　　Wonderful Life needs to hold any premium deficiency reserves (PDR).

　　(a) (1 point) Outline assumptions to be considered when calculating a PDR.

　　(b) (1 point) Recommend the groupings Wonderful Life should use to assess the need

　　for a PDR. Support your recommendation.

　　(c) (3 points) In addition to Tables MM-1, MM-7, and MM-2a you are given the

　　following information:

　　? The overall 2003 rate increase is limited to 12% due to small employer rating

　　requirements.

　　? This rate increase limit only applies to 2003.

　　? Member termination from 2002 to 2003 will be at the same rate as has been

　　experienced in the past.

　　? Expenses are calculated assuming an average of 1.75 members per

　　employee.

　　? Ignore interest and income taxes.

　　Determine if a PDR should be held as of 12/31/2002 for the closed block of

　　business in Wonderful Life’s Small Group Department.

　　COURSE 8: Fall 2003 -4- GO TO NEXT PAGE

　　Health, Group Life & Managed Care

　　Morning Session

　　Questions 2 – 8 pertain to the Case Study

　　5. (7 points) Your manager at Wonderful Life Insurance Company has asked you to

　　calculate renewal rates for Group 6 for a March 1, 2003, renewal date using a

　　combination of multi- year loss ratio and catastrophic pooling methods.

　　In addition to information from Tables MM-2a and MM-2b:

　　? Assume case characteristics for Option 1 and Option 2 are the same for both years as

　　shown in Table MM-3b.

　　? The gross premium for Group 6 for July 1, 2000 to June 30, 2001 was $5,800,000.

　　? Weights for averaging are 75% for current rating period and 25% for prior rating

　　period.

　　Calculate the annual gross premium for an employee with dependents selecting Option 1.

　　Show your work.

　　6. (3 points) You have been asked to develop materials for a meeting to discuss Wonderful

　　Life’s 5- year plan.

　　(a) Describe possible strategies a group insurance company could use to gain a

　　competitive advantage.

　　(b) Describe how Wonderful Life Insurance Company has demonstrated these

　　strategies in their four primary business divisions. Give an example of such a

　　strategy for each division.

　　COURSE 8: Fall 2003 -5- GO TO NEXT PAGE

　　Health, Group Life & Managed Care

　　Morning Session

　　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

　　(c) (4 points) Using recast claims data, calculate the Economic Value Added as a

　　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.

　　(c) Describe considerations involved in using age-to-age development factors to

　　estimate incurred claims.
　　高顿网校之名人心语：美是一朵鲜艳的花，风度是一棵常青的树；时间是美的敌人，却是风度的朋友。——汪国真

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