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北美精算师02年11月重要考纲：November2002Course8M（第二课）

来源：高顿网校 2014-08-27

　　北美精算师02年11月重要考纲：November2002Course8M（第二课）已给到大家，请自行安排复习时间哦。
　　4. (10 points) Wonderful Life is considering the purchase of medical reinsurance that is a

　　combination of quota share and specific excess. The quote they have received is as

　　follows:

　　Specific excess

　　? 100% of claims in excess of $50,000

　　? Covers claims incurred from July 1, 2000 through June 30, 2001

　　? Reinsurance premium = $20.00 Per Employee Per Month

　　Quota share reinsurance

　　? 30% of claims incurred up to $50,000

　　? Ceding allowance: 20% of ceded premium

　　? Covers premium earned and claims incurred from July 1, 2000 through June

　　30, 2001

　　Wonderful Life’s management has set a pre-tax ROE target of 25% while holding riskbased

　　capital at 30% of premium. Current operating expenses are 15.1% of premium and

　　pre-tax investment income is 3.0% of premium.

　　(a) (4 points) Calculate Wonderful Life’s total pre-tax operating gain using the data

　　in table MM-3 assuming Wonderful Life purchases this reinsurance coverage.

　　Show your work.

　　(b) (4 points) Determine if Wonderful Life would have met its pre-tax ROE

　　objectives:

　　(i) Without the reinsurance coverage.

　　(ii) With the reinsurance coverage.

　　(c) (2 points) Describe the other profit measures you could use in analyzing this

　　business.

　　COURSE 8: Fall 2002 -5- GO ON TO NEXT PAGE

　　Health, Group Life & Managed Care

　　Morning Session

　　Questions 3 – 8 pertain to the Case Study

　　5. (7 points) You are the actuary for the Major Medical Division of Wonderful Life. You

　　have been asked to develop a forecast for the major medical line.

　　You are given the data in Tables MM-3, MM-6, and MM-7.

　　(a) Describe the major projection elements governing the design of a financial

　　forecast.

　　(b) Identify additional information you would need to develop a forecast and any

　　concerns about the information you have been provided.

　　6. (6 points) Wonderful Life is examining various methods of smoothing age-to-age

　　development factors.

　　(a) (4 points) Calculate the first lag month’s development factor for Wonderful Life

　　using the most recent four months of experience from Table MM-4b under the

　　following averaging approaches:

　　(i) Without Hi and Lo

　　(ii) Geometric Mean

　　(iii) Dollar-Weighted

　　(iv) Per Member Age-to-Age Ratios

　　(b) (2 points) Describe other methods that could be used to smooth age-to-age

　　development factors.

　　COURSE 8: Fall 2002 -6- GO ON TO NEXT PAGE

　　Health, Group Life & Managed Care

　　Morning Session

　　Questions 3 – 8 pertain to the Case Study

　　7. (9 points) You are the pricing actuary for Wonderful Life. You have been asked to

　　evaluate the expected cost trend for Group 6. You have been given the following data in

　　addition to Tables MM-2 and MM-3.

　　Option 1 Option 2

　　%EE’s Avg Cost %EE’s Avg Cost

　　Sub-group 1 80% 5% Higher 90% 5% Lower

　　Sub-group 2 20% 20% Lower 10% 45% Higher

　　(a) (2 points) Calculate the expected claim cost per employee per month (PEPM) for

　　the next renewal period beginning March 1, 2002 based on the current enrollment

　　mix.

　　(b) (5 points) At open enrollment, employees in sub- group 2 of each option choose

　　the other option. Calculate the expected trend for each option and determine the

　　impact on the overall expected trend.

　　(c) (2 points) The employer is currently paying 70% of the cost of Option 1 and

　　Option 2.

　　(i) Calculate the amount the employer and employee would pay PEPM based

　　on the current rates and enrollment mix if the employer were to pay an

　　equal amount under a fixed dollar cost scheme.

　　(ii) Describe the potential concerns associated with a fixed dollar cost scheme.

　　COURSE 8: Fall 2002 -7- GO ON TO NEXT PAGE

　　Health, Group Life & Managed Care

　　Morning Session

　　Questions 3 – 8 pertain to the Case Study
　　人的活动如果没有理想的鼓舞，就会变得空虚而渺小。——高顿网校名人语录

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