今天高顿网校小编汇总了北美精算师考试——SOA真题Course8IC（最后一部分），仅供大家参考。大家看书应考的时候别减油哦，加足马力，冲啊。
　　14.(12points)ABCLifecurrentlysellsaguaranteed,10-yearlevelpremiumtermproduct
　　intheU.S.market.Aftertheinitial10-yearperiod,coverageisannuallyrenewable.
　　Recentsalesresultshavebeendisappointing.ABCisdevelopinganindeterminate
　　premiumversiontoreplacethecurrentproduct.Underthenewdesign,premiumrates
　　willbeguaranteedforthefirsttwoyearsofthecontract.
　　(a)DescribethetypesofproductinnovationsasoutlinedinLOMA.
　　(b)Withrespecttoindeterminatepremiumtermproducts:
　　(i)Describetheproductdesign.
　　(ii)Explaintheadvantagesanddisadvantagescomparedtoaguaranteed
　　premiumproductdesignfromthecompany’sperspective.
　　(c)ABChasnomortalityexperienceforanindeterminatepremiumproduct.
　　DescribefactorsABCneedstoconsiderinusingitsownexistingmortalitydatato
　　setthemortalityassumptionusedtopricethenewproduct.
　　(d)Describethefollowingmethodsofcalculatingreservesforrenewableterm
　　products:
　　(i)Unitarymethod.
　　(ii)ContractSegmentationmethod.
 
　　Course8I:Fall2005-14-GOONTONEXTPAGE
　　IndividualInsurance–Canada
　　AfternoonSession
　　15.(8points)
　　(a)Describethefollowingmethodsofmatchingassetsandliabilities.
　　(i)Exactmatching,
　　(ii)Durationmatching,
　　(iii)Horizonmatching,and
　　(iv)Productcashflowmatching.
　　(b)Youaregiven:
　　TimeLiabilityCashFlow
　　125
　　225
　　3100
　　4100
　　50
　　60
　　Calculatethemodifieddurationandconvexityoftheliabilitycashflowsusingan
　　interestrateof7%.Showallwork.
　　(c)Theinvestmentdepartmentsuggestsanassetportfoliowithmodifiedduration
　　equaltotheliabilitycashflowmodifiedduration,withthefollowingassetcash
　　flows:
　　TimeAssetCashFlow
　　14.68
　　20.32
　　3234.07
　　40.32
　　50.00
　　610.72
　　(i)Evaluatetheeffectivenessofusingtheproposedassetportfolioto
　　immunizetheliabilitycashflows.
　　(ii)Describewaystoimprovetheassetandliabilitymatchingforthis
　　portfolio.
　　Showallwork.
 
　　Course8I:Fall2005-15-GOONTONEXTPAGE
　　IndividualInsurance–Canada
　　AfternoonSession
　　16.(5points)Youaregiven:
　　CashClaimsPaidbyYearofIncurral
　　IncurralYear
　　CalendarYear20002001200220032004
　　20005
　　2001106
　　20024127
　　200337147
　　2004122136
　　EndofYearClaimReserve
　　IncurralYear
　　CalendarYear20002001200220032004
　　200015
　　20011016
　　20028517
　　200354618
　　2004435617
　　(a)Describethecommontestsofclaimreserveadequacy.
　　(b)Evaluatethesufficiencyoftheclaimreserves.Showallwork.
 
　　Course8I:Fall2005-16-STOP
　　IndividualInsurance–Canada
　　AfternoonSession
　　17.(4points)AU.S.insurancecompanyhashistoricallysoldonlywholelifeinsurance.
　　Saleshavebeendecliningsteadilyoverthelastfewyears.Seniormanagementexpectsto
　　introduceauniversallifeproductthatprovidesthecustomerwithmoreflexibility.
　　(a)Describefeaturesofauniversallifeproductthatprovideflexibilitytothe
　　customer.
　　(b)Thefollowingproductdesignisproposed:
　　?Thepremiumloadis15%.
　　?Theguaranteedinterestrateis5.00%.
　　?Asurrenderchargeappliesfor5years.
　　?Thepolicyfeeis$5permonth.
　　?Unscheduledpremiumpaymentsarenotpermitted.
　　?Therearenoriders.
　　?Thepolicyloaninterestrateisequaltothecurrentinterestrate.
　　?Theguaranteedinterestbonusis1%beginninginyear11.
　　Evaluatetheproposeddesignandrecommendanychanges.
　　**ENDOFEXAMINATION**
　　AFTERNOONSESSION
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