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北美精算师考试SOA——真题精华篇November2004Course5（一）

来源：高顿网校 2014-08-04

　　北美精算师考试SOA——真题精华篇November2004Course5（一），是高顿网校小编8月4日为您精心编制的。
　　MORNING SESSION

　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES

　　SECTION A-WRITTEN ANSWER

　　COURSE 5: Fall 2004 - 2 - GO ON TO NEXT PAGE

　　Morning Session

　　**BEGINNING OF EXAMINATION**

　　COURSE 5

　　MORNING SESSION

　　1. (4 points)

　　(a) Describe the coverage in a business overhead expense disability income policy.

　　(b) You are given the following information:

　　Maximum monthly benefit 30,000

　　Maximum multiple of monthly benefit 15

　　Maximum benefit period 24 months

　　Insured start of disability January 1, 2003

　　Insured end of disability March 1, 2005

　　Elimination period 90 days

　　Calculate the payout to the insured for each of the scenarios:

　　Scenario Monthly Overhead Expense

　　I 36,000

　　II 18,000

　　III 22,500

　　Show all work.

　　2. (6 points) With respect to group health care benefits:

　　(a) Describe the various providers.

　　(b) Describe the various buyers.

　　COURSE 5: Fall 2004 - 3 - GO ON TO NEXT PAGE

　　Morning Session

　　3. (4 points)

　　(a) Describe the actions a life insurance company can take to limit the effect of

　　policyholder misrepresentation.

　　(b) Given the following information for a company that offers life insurance with

　　smoker and nonsmoker rates:

　　Actual smokers 30% of insured

　　Smokers premium rate 5 per 1,000

　　Non-smoker premium rate 3 per 1,000

　　Expenses None

　　Calculate the amount of profit lost per 1,000 if 10% of smokers lied about

　　smoking and were issued as non-smokers.

　　Show all work.

　　COURSE 5: Fall 2004 - 4 - GO ON TO NEXT PAGE

　　Morning Session

　　4. (6 points) For a defined benefit pension plan, you are given the following information:

　　Plan formula: 1% × 3-year Final Average Earnings × years of service from hire

　　Plan participants as of January 1, 2005:

　　Participant

　　Attained

　　Age

　　Prior

　　Year

　　Earnings

　　Service

　　to Date

　　Probability of

　　surviving in

　　service to age 65

　　Temporary

　　employment-based life

　　annuity of 1 per year

　　X 40 35,000 0 0.5040 11.8338

　　Y 50 50,000 10 0.6547 9.1844

　　Actuarial assumptions:

　　(12)

　　a????65 9.4131

　　Interest rate 7%

　　Assumed future annual salary increases 5%

　　Pay increases Beginning of the year

　　Actuarial cost method Entry age normal

　　Normal retirement age 65

　　Benefits payable for termination prior to

　　normal retirement age

　　None

　　Calculate the plan’s normal cost and accrued liability as of January 1, 2005.

　　Show all work.

　　5. (3 points) For variable annuities:

　　(a) Describe common death benefit options.

　　(b) Describe the effect of a decline in account value due to investment performance

　　for each death benefit option.

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

　　Morning Session

　　6. (7 points) Describe the steps an insurance company takes to develop an individual life

　　insurance product.

　　7. (5 points) For a current medical plan and a proposed change to that plan, you are given

　　the following:

　　Deductible Coinsurance Out-of-pocket maximum

　　(excluding deductible)

　　Lifetime

　　maximum

　　Current Plan 100 80% 1,000 None

　　Proposed Plan 200 75% 1,400 None

　　Manual cumulative probability distribution

　　Range of Claims Frequency

　　Average

　　Annual

　　Claims

　　Annual

　　cost

　　Accumulated

　　Frequency

　　Accumulated

　　Annual Cost

　　0 0.25 0 0.00 1.00 3,500

　　0.01–50.00 0.05 40 2.00 0.75 3,500

　　50.01-150.00 0.10 100 10.00 0.70 3,498

　　150.01-250.00 0.20 210 42.00 0.60 3,488

　　…… …… …… …… …… ……

　　4,000.01-5,000.00 0.03 4,500 135.00 0.12 2,500

　　5,000.01-6,000.00 0.02 5,400 108.00 0.09 2,387

　　Assuming no change in utilization, calculate the percentage change on net medical claims

　　for the proposed plan change.

　　Show all work.
　　高顿网校之名人哲理放送：我们的地位向上升，我们的责任心就逐步加重。升得愈高，责任愈重。权力的扩大使责任加重。——雨果

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