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04年11月份北美精算师那场考试的真题精要Course8G（第三节）

来源：高顿网校 2014-08-11

　　打算考今年下半年精算师北美地区考试的有没有？来高顿网校好好学习04年11月份北美精算师那场考试的真题精要Course8G（第三节）哟。
　　10. (4 points) As a result of the new Medicare Prescription Drug Improvement and

　　Modernization Act of 2003 it may be necessary for a plan sponsor to perform an actuarial

　　valuation to determine actuarial equivalence between the sponsor’s plan with the basic

　　Medicare benefit.

　　Assume that costs over age 65 for the sponsor’s plan are $1,500 per year and plan costs,

　　on the average, increase by 3% per year above 65. Assume that the demographics are as

　　follows:

　　Demographics

　　Age Group Number

　　65 to 69 200

　　70 to 74 400

　　75 to 79 300

　　80 to 84 100

　　Total 1,000

　　(a) Outline the assumptions needed to perform an actuarial valuation of the sponsor’s

　　plans.

　　(b) Develop the sponsor’s plan costs by age group.

　　(c) Describe the financial impact to the plan sponsor of the three possible outcomes

　　when determining actuarial equivalence.

　　**END OF EXAMINATION**

　　MORNING SESSION

　　COURSE 8: Fall 2004 - 8 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　**BEGINNING OF EXAMINATION**

　　HEALTH AND GROUP LIFE SEGMENT

　　AFTERNOON SESSION

　　Beginning With Question 11

　　11. (4 points)

　　(a) Describe the types of claim liabilities and reserves. For each, provide an example

　　of an event which would require such a liability or reserves to be established.

　　(b) Describe common methods used to estimate claim reserves.

　　12. (6 points) Company XYZ management has decided it is time to invest resources into

　　developing better reporting and analytical systems.

　　(a) (2 points) Describe ways data compiled in the claim adjudication process can be

　　used for reporting and analysis.

　　(b) (3 points) Compare and contrast types of data structures and physical media used

　　to store data in computer systems.

　　(c) (1 point) Describe considerations when choosing a data structure and storage

　　media.

　　COURSE 8: Fall 2004 - 9 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　13. (5 points) You are the CFO of a start-up insurance company. You are in the process of

　　determining your minimum required surplus and designing a system for measuring

　　capital, profit, and growth.

　　(a) Describe the insurance risks that should be considered when setting minimum

　　surplus requirements.

　　(b) Discuss the necessary considerations when designing a system for measuring

　　capital, profit, and growth.

　　(c) Discuss and illustrate with formulas how capital, profit, and growth inter-relate.

　　COURSE 8: Fall 2004 - 10 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　14. (5 points) Paul and Leslie, who are both in their 30’s, were recently married and are

　　meeting with an agent to discuss their financial plans.

　　Paul works on contract as a motivational speaker and has no employee benefits. He earns

　　$50,000 a year. Leslie works for a financial institution which has a flexible benefits plan

　　including STD and LTD. Leslie earns a base salary of $50,000 per year and earned a

　　bonus of $5,000 last year.

　　Paul is considering the following disability plan:

　　Type: Individual Disability Income

　　Waiting Period: 30 days

　　Definition of Disability: Own occupation to 65

　　Benefit Amount: $2500 per month

　　Benefit Term: 5 years

　　Leslie is currently enrolled in the following option in the flex plan:

　　Type: LTD STD

　　Elimination Period: 4 months

　　Definition of Disability: 2 Year Own Occupation,

　　then Any Occupation to 65

　　Benefit Amount: 60% of salary 100% of salary for 2

　　months, 75% of salary

　　thereafter

　　Funded: 100% Employee paid

　　Indexing: 3% per annum on disability

　　anniversary

　　(a) Compare and contrast the underwriting criteria used for individual and group

　　disability policies.

　　(b) Describe how these criteria would apply specifically to Paul and Leslie.

　　(c) Describe how benefits would be determined and calculate Paul and Leslie’s

　　cashflow if they were both injured in a car accident and were unable to work for 5

　　years. Show your work.

　　.

　　COURSE 8: Fall 2004 - 11 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　Questions 15 – 17 pertain to the Case Study

　　15. (6 points) On January 1, 2003, Dengo Software added a non-discriminatory Section 79

　　group term life insurance plan from Wonderful Life to its employee benefit plan. Dengo

　　pays the premium, and the benefit is equal to one times the employee’s annual salary.

　　Employees of Dengo may purchase additional group term life insurance through salary

　　deduction. Dengo also provides accidental death and dismemberment coverage (AD&D)

　　equal to two times annual salary.

　　Wonderful Life will apply 10% credibility to its own experience as shown in table GLD-

　　2, and develop unisex rates to the nearest penny using 50% female content.

　　The 1999 IRS Table I rates are as follows:

　　From age: To age: IRS Table I Rate

　　0 24 $0.05

　　25 29 $0.06

　　30 34 $0.08

　　35 39 $0.09

　　40 44 $0.10

　　45 49 $0.15

　　50 54 $0.23

　　Information regarding employee coverage is shown in the table below:

　　Employee Age Sex Annual Salary

　　Additional Coverage

　　(multiple of salary)

　　1 32 F 34,000 0

　　2 37 F 96,000 3

　　3 47 F 77,000 1

　　4 37 M 78,000 0

　　5 42 M 72,000 0

　　Note: Employee 5 is permanently disabled and terminated employment on 12/31/02.

　　(a) (4 points) Calculate the 2003 monthly imputed income for each employee for life

　　insurance and AD&D. Show your work.

　　(b) (2 points) Discuss the impact on the employee and employer of the 1999 change

　　in Table I rates.

　　COURSE 8: Fall 2004 - 12 - GO TO NEXT PAGE

　　Health and Group Life Segment

　　Afternoon Session

　　Questions 15 – 17 pertain to the Case Study
　　友谊能增进快乐，减轻痛苦，因为它能倍增我们的喜悦，分担我们的烦恼。——高顿网校为人处世

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