下面是北美精算师考试SOA：真题精选Course8IU（1），请记熟北美地区的要点和难点哦。
　　Course8I:Fall2005-1-GOONTONEXTPAGE
　　IndividualInsurance–U.S.
　　MorningSession
　　**BEGINNINGOFEXAMINATION8**
　　INDIVIDUALINSURANCE–U.S.
　　MORNINGSESSION
 
　　1.(4points)Arecentmortalityexperiencestudyshowsthatthesubstandardportionofthe
　　company’slifeinsurancepolicieshasworsethanexpectedexperience.
　　(a)Explainreasonssubstandardmortalityexperiencemaybehigherthanexpected.
　　(b)Describemethodstoreflectsubstandardrisksinlifeinsuranceproducts.
　　(c)Determinethebestmethodtoreflecteachofthefollowingsubstandardrisks:
　　(i)Obesitywithdiabetes
　　(ii)Recoveringfromatemporaryimpairment
　　(iii)Hazardousoccupation
　　(iv)Normalbloodpressurebutfamilyhistoryofcoronaryarterydisease
　　Course8I:Fall2005-2-GOONTONEXTPAGE
　　IndividualInsurance–U.S.
　　MorningSession
 
　　2.(5points)AU.S.lifeinsurancecompanyisproposingaflexiblepremiumdeferred
　　annuitywiththefollowingfeatures:
　　?Eachdepositreceivesaguaranteedinterestrateforthefirstfiveyearsbased
　　onnewmoneyrateswithanannuallyrenewableinterestratethereafter.
　　?Theminimuminterestratecreditedonfundsandusedindetermining
　　minimumnonforfeitureamountsisguaranteedtobenolessthan3%.
　　?Thesurrenderchargeis15%ofthecurrentcontractyeardeposit,plus10%
　　ofthepriorcontractyeardeposit.
　　?Surrenderchargesarewaiveduponannuitization.
　　?Returnofprincipalisguaranteedduringthefirstcontractyear.
　　?Adeathbenefitisnotprovidedduringthedeferralperiod.
　　?Theannuitizationbonusis2%ofaccountvalue.
　　?Anannualfeeof$75ischargedatthebeginningofeachcontractyear.
　　?Anadministrativeloadof6%isappliedtoeachdeposit.
　　(a)Determinechangesneededtotheproposedproductdesigninordertomeetthe
　　requirementsoftheStandardNonforfeitureLawforIndividualDeferred
　　Annuities.
　　(b)ForacontractpurchasedonJanuary1,2005,youaregiven:
　　Five-yearconstantmaturitytreasuryrates
　　January1,20055.85%
　　January1,20065.50%
　　January1,20075.25%
　　January1,20084.75%
　　January1,20094.00%
　　CreditedinterestratefromJanuary1,2005toJanuary1,20104.00%
　　Nonrefundablestatepremiumtaxrate2.00%
　　InitialdepositpaidonJanuary1,2005$50,000
　　AdditionaldepositpaidonJanuary1,2008$5,000
　　PartialwithdrawalonJanuary1,2009$10,000
　　Calculatetheminimumnonforfeitur*ueallowedasofDecember31,2009
　　accordingtotheStandardNonforfeitureLaw.Showallwork.
　　Course8I:Fall2005-3-GOONTONEXTPAGE
　　IndividualInsurance–U.S.
　　MorningSession
 
　　3.(5points)Youaregiventhefollowingassumptionsforavariableannuityproductwith
　　aguaranteedminimumdeathbenefit(GMDB):
　　AccountValueattime0$1,500
　　DeathBenefitattime0$1,750
　　DepositPaidtoDate$1,750
　　NetAssetCharges1.00%
　　ValuationRate5.50%
　　AssumedFirstYearDrop-14%
　　AssumedFundRecovery14%
　　DeathBenefitGuaranteeTypeRoll-up
　　Roll-upInterestRate5%
　　DurationofContract5years
　　ValuationTime(t)01
　　SurrenderChargesasapercentageofdepositpaid7%6%
　　GMDBMortalityRatesperthousand-17.192
　　SurvivalFunction1.00000.9828
　　t
　　ProjectedIntegrated
　　Reserve
　　21,409.22
　　31,419.49
　　41,425.54
　　51,416.31
　　(a)(1point)ExplainthecalculationoftheintegratedreserveaccordingtoActuarial
　　Guideline34.
　　(b)(4points)Calculatetheintegratedreserveattime0,accordingtoActuarial
　　Guideline34.Showallwork.
　　Course8I:Fall2005-4-GOONTONEXTPAGE
　　IndividualInsurance–U.S.
　　MorningSession
　　Question4pertainstotheCaseStudy.
　　高顿网校之旷世名言精选：善气迎人，亲如兄弟；恶气迎人，害于戈兵。——管仲