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【北美精算师大纲】经典SOA往届真题Course5（最后一块拼接）

来源：高顿网校 2014-08-06

　　【北美精算师大纲】经典SOA往届真题Course5（最后一块拼接），祝愿您知识点一字不漏全记住，精算师考试超水平发挥！
　　40. X. Canadian MCCSR Tier 1 capital I. Contributed capital

　　Y. Canadian MCCSR Tier 2 capital II. Deduction for 100% of negative

　　reserves

　　III. Subordinated debt

　　**END OF EXAMINATION**

　　MORNING SESSION

　　COURSE 5: Fall 2005 - 33 - STOP

　　Morning Session

　　COURSE 5

　　AFTERNOON SESSION

　　APPLICATION OF BASIC ACTUARIAL

　　PRINCIPLES

　　SECTION A – WRITTEN ANSWER

　　COURSE 5: Fall 2005 - 1 - GO ON TO NEXT PAGE

　　Afternoon Session

　　**BEGINNING OF EXAMINATION**

　　COURSE 5

　　AFTERNOON SESSION

　　Beginning with Question 9

　　9. (4 points) Describe the objectives of ratemaking in Property and Casualty insurance.

　　10. (5 points)

　　(a) Describe the difference between:

　　i. yearly renewable term (YRT) reinsurance

　　ii. coinsurance

　　(b) Describe the difference between:

　　i. coinsurance

　　ii. modified coinsurance

　　iii. coinsurance with funds withheld

　　(c) Describe the difference between:

　　i. automatic reinsurance

　　ii. facultative reinsurance

　　(d) A life insurance company has:

　　? an excess reinsurance agreement with a $1,000,000 retention limit

　　? a 40% first-dollar quota share reinsurance agreement

　　Calculate the excess and quota share reinsurance amounts for:

　　i. $800,000 term policy

　　ii. $2,000,000 term policy

　　Show all work.

　　COURSE 5: Fall 2005 - 2 - GO ON TO NEXT PAGE

　　Afternoon Session

　　11. (6 points) You are given the following data for a proposed life insurance product:

　　t AftTax

　　SolvEarn

　　Req

　　Cap

　　Solv

　　Res

　　Ben

　　Res DAC Tax InvInc

　　RC

　　TaxInvInc

　　RC

　　1 -50 10 12 19 100 -40 0 0

　　2 10.2 9.8 25 31 92 6.8 0.6 0.24

　　3 10.2 9.5 33 38 84 6.8 0.59 0.24

　　After Tax Interest Rate Earned on Assets: 3.6%

　　Hurdle Rate: 10%

　　ReqCap(0): 0

　　(a) Describe the considerations in determining which accounting basis should be used

　　to determine the profits of this product.

　　(b) Calculate EmbeddedValue (3) using distributable earnings as profits.

　　(c) Calculate the return on assets for the first three years using distributable earnings

　　as profits and discounting at the after tax earnings rate.

　　12. (6 points) With respect to a life insurance company:

　　(a) Describe the objectives of investment regulation and how they can be achieved.

　　(b) Describe the NAIC regulation for:

　　i. the valuation of assets

　　ii. the valuation of reserves

　　COURSE 5: Fall 2005 - 3 - GO ON TO NEXT PAGE

　　Afternoon Session

　　13. (6 points) With respect to U.S. medical benefit plans, describe the various provisions that

　　may be used for cost sharing:

　　(a) with the insured

　　(b) with the provider

　　14. (4 points)

　　(a) Describe the typical and alternate methods of disclosing policy loans on a life

　　insurance company’s balance sheet and income statement.

　　(b) You are given the following:

　　End of Year Invested Assets 3,000

　　End of Year Policy Loans In-Force 500

　　End of Year Reserves 3,500

　　Beginning of Year Reserves 3,300

　　Premiums 300

　　Interest on Invested Assets 180

　　Interest on Policy Loans 25

　　Benefits Paid 215

　　Expenses 30

　　Tax Rate 35%

　　Prepare a balance sheet and an income statement using a valid method of

　　reflecting policy loans.

　　15. (5 points) Regardless of accounting basis, describe the four widely used reserve methods

　　for individual life insurance.

　　COURSE 5: Fall 2005 - 4 - STOP

　　Afternoon Session

　　16. (4 points) You are given the following information regarding a long-term disability

　　insurance product:

　　Benefit: $5,000 payable mid-month for 3 months

　　Elimination period: 1 month

　　Monthly interest rate: 1%

　　Pending factor: 70% for all claims

　　Continuance Table*

　　Claim Duration (months)

　　0 100

　　1 90

　　2 80

　　3 70

　　4 60

　　*Continuance table values for the middle of a month can be computed through

　　averaging

　　(a) Explain the reserve methodology for open claims.

　　(b) Calculate the tabular reserves at the end of month 1.

　　(c) Explain the reserve methodology for pending claims.

　　(d) Calculate the pending reserve for a claim reported at the end of month 3.

　　Show all work.

　　**END OF EXAMINATION**
　　高顿网校之金玉良言：朝着一定目标走去是“志”，一鼓作气中途绝不停止是“气”，两者合起来就是“志气”。一切事业的成败都取决于此。

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