考北美精算师的奋斗学子们，有木有正在为找不到讲义苦恼的？高顿网校来为您解决：北美精算师考试SOA真题Course5（最后一部分）
　　40.X.CanadianMCCSRTier1capitalI.Contributedcapital
　　Y.CanadianMCCSRTier2capitalII.Deductionfor100%ofnegative
　　reserves
　　III.Subordinateddebt
　　**ENDOFEXAMINATION**
　　MORNINGSESSION
 
　　COURSE5:Fall2005-33-STOP
　　MorningSession
 
　　COURSE5
　　AFTERNOONSESSION
　　APPLICATIONOFBASICACTUARIAL
　　PRINCIPLES
　　SECTIONA–WRITTENANSWER
 
　　COURSE5:Fall2005-1-GOONTONEXTPAGE
　　AfternoonSession
　　**BEGINNINGOFEXAMINATION**
 
　　COURSE5
　　AFTERNOONSESSION
　　BeginningwithQuestion9
　　9.(4points)DescribetheobjectivesofratemakinginPropertyandCasualtyinsurance.
　　10.(5points)
　　(a)Describethedifferencebetween:
　　i.yearlyrenewableterm(YRT)reinsurance
　　ii.coinsurance
　　(b)Describethedifferencebetween:
　　i.coinsurance
　　ii.modifiedcoinsurance
　　iii.coinsurancewithfundswithheld
　　(c)Describethedifferencebetween:
　　i.automaticreinsurance
　　ii.facultativereinsurance
　　(d)Alifeinsurancecompanyhas:
　　?anexcessreinsuranceagreementwitha$1,000,000retentionlimit
　　?a40%first-dollarquotasharereinsuranceagreement
　　Calculatetheexcessandquotasharereinsuranceamountsfor:
　　i.$800,000termpolicy
　　ii.$2,000,000termpolicy
　　Showallwork.
 
　　COURSE5:Fall2005-2-GOONTONEXTPAGE
　　AfternoonSession
　　11.(6points)Youaregiventhefollowingdataforaproposedlifeinsuranceproduct:
　　tAftTax
　　SolvEarn
　　Req
　　Cap
　　Solv
　　Res
　　Ben
　　ResDACTaxInvInc
　　RC
　　TaxInvInc
　　RC
　　1-50101219100-4000
　　210.29.82531926.80.60.24
　　310.29.53338846.80.590.24
　　AfterTaxInterestRateEarnedonAssets:3.6%
　　HurdleRate:10%
　　ReqCap(0):0
　　(a)Describetheconsiderationsindeterminingwhichaccountingbasisshouldbeused
　　todeterminetheprofitsofthisproduct.
　　(b)CalculateEmbeddedValue(3)usingdistributableearningsasprofits.
　　(c)Calculatethereturnonassetsforthefirstthreeyearsusingdistributableearnings
　　asprofitsanddiscountingattheaftertaxearningsrate.
　　12.(6points)Withrespecttoalifeinsurancecompany:
　　(a)Describetheobjectivesofinvestmentregulationandhowtheycanbeachieved.
　　(b)DescribetheNAICregulationfor:
　　i.th*uationofassets
　　ii.th*uationofreserves
　　COURSE5:Fall2005-3-GOONTONEXTPAGE
　　AfternoonSession
　　13.(6points)WithrespecttoU.S.medicalbenefitplans,describethevariousprovisionsthat
　　maybeusedforcostsharing:
　　(a)withtheinsured
　　(b)withtheprovider
　　14.(4points)
　　(a)Describethetypicalandalternatemethodsofdisclosingpolicyloansonalife
　　insurancecompany’sbalancesheetandincomestatement.
　　(b)Youaregiventhefollowing:
　　EndofYearInvestedAssets3,000
　　EndofYearPolicyLoansIn-Force500
　　EndofYearReserves3,500
　　BeginningofYearReserves3,300
　　Premiums300
　　InterestonInvestedAssets180
　　InterestonPolicyLoans25
　　BenefitsPaid215
　　Expenses30
　　TaxRate35%
　　Prepareabalancesheetandanincomestatementusingavalidmethodof
　　reflectingpolicyloans.
　　15.(5points)Regardlessofaccountingbasis,describethefourwidelyusedreservemethods
　　forindividuallifeinsurance.
 
　　COURSE5:Fall2005-4-STOP
　　AfternoonSession
　　16.(4points)Youaregiventhefollowinginformationregardingalong-termdisability
　　insuranceproduct:
　　Benefit:$5,000payablemid-monthfor3months
　　Eliminationperiod:1month
　　Monthlyinterestrate:1%
　　Pendingfactor:70%forallclaims
　　ContinuanceTable*
　　ClaimDuration(months)
　　0100
　　190
　　280
　　370
　　460
　　*Continuancetabl*uesforthemiddleofamonthcanbecomputedthrough
　　averaging
　　(a)Explainthereservemethodologyforopenclaims.
　　(b)Calculatethetabularreservesattheendofmonth1.
　　(c)Explainthereservemethodologyforpendingclaims.
　　(d)Calculatethependingreserveforaclaimreportedattheendofmonth3.
　　Showallwork.
　　**ENDOFEXAMINATION**
　　AFTERNOONSESSION
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