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2001年11月份SOA北美精算师历年真题集中Course5（一）

来源：高顿网校 2014-08-25

　　2001年11月份SOA北美精算师历年真题集中Course5（一），大家请再接再厉，拿下明年的那张北美精算师资格证哦！
　　Society of Actuaries

　　COURSE 5

　　MORNING SESSION

　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES

　　SECTION A-WRITTEN ANSWER

　　COURSE 5: November 2001 - 2 - GO ON TO NEXT PAGE

　　Morning Session

　　**BEGINNING OF EXAMINATION 5**

　　MORNING SESSION

　　1. (5 points) With respect to participating life insurance products,

　　(a) Explain the rationale for offering participating products.

　　(b) Describe the considerations in setting policyholder dividends.

　　(c) Describe the concerns regulators have with policyholder dividends.

　　2. (6 points) Describe the rating variables that should be considered when developing group

　　insurance medical claim costs.

　　3. (6 points) Describe each of the following provisions which can be included in an

　　individual disability income contract:

　　(a) Residual Disability Income Benefit;

　　(b) Guaranteed Insurability Option Benefit; and

　　(c) Cost Of Living Benefit.

　　COURSE 5: November 2001 - 3 - GO ON TO NEXT PAGE

　　Morning Session

　　4. (5 points) You are given the following retirement plan information for an individual:

　　Current Age 40

　　Entry Age 30

　　Retirement Age 65

　　Social Security Benefit $11,700

　　Current Salary $80,000

　　Annual Salary Growth 3%

　　Personal Savings Accumulation Rate 7%

　　Final Salary (at age 64) $162,624

　　Retirement Benefit 1% of final 5-year average salary times

　　years of service

　　Annuity Conversion Factor @ age 65 8.1958

　　The individual begins saving for retirement at his current age.

　　Calculate the level percent of salary that should be allocated to personal savings each

　　year to provide this individual with a 70% full replacement ratio. Show all work.

　　5. (8 points) Describe the following reserve methods for life insurance products:

　　(a) simplified net premium method;

　　(b) realistic net premium method;

　　(c) gross premium method; and

　　(d) accumulation method.

　　COURSE 5: November 2001 - 4 - GO ON TO NEXT PAGE

　　Morning Session

　　6. (5 points) You are given the following information for a defined benefit plan:

　　Plan Effective Date: 01/01/2001

　　Plan Year = Calendar Year

　　Normal Retirement Benefit: 2% of final three-year average pay for each year of service

　　Actuarial Cost Method: Entry Age Normal

　　Actuarial Assumptions:

　　Interest: 8.00%

　　Salary Scale: 5.00%

　　Preretirement termination other than death: None

　　Data for the 10 active participants as of 1/1/2001 (there are no inactive participants):

　　Age: 45

　　Past Service: 5 years

　　2001 Salary: $25,000

　　Plan Assets at 1/1/2001: 0

　　Selected annuity values: a&&65

　　12 10 b g =

　　a&&10 = 7

　　Selected Commutation Functions:

　　X DX NX N - 65 SX

　　S

　　X

　　N -SN65

　　40 245 3200 1.0000 7100

　　45 180 2100 1.2763 5000

　　65 50 0 3.3864 0

　　The supplemental liability is amortized over 10 years.

　　Determine the annual cost as of December 31, 2001 for the 2001 plan year based on an

　　initial valuation as of January 1, 2001.

　　Show all work.

　　COURSE 5: November 2001 - 5 - GO ON TO NEXT PAGE

　　Morning Session
　　没有尝试，就没有成功；唯有面对困难或危险，才会激起更高一程的决心和勇气。——高顿网校名人思想

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