下文的SOA历年精选真题November2004Course5（最后一块）——北美精算师，请相关北美精算师人士赶快消化掉。
　　39.X.HazardI.Collision
　　Y.PerilII.Poorwiring
　　III.Dishonesty
　　40.X.VariableuniversallifeproductsI.Passesfullinvestmentrisktothe
　　policyholder
　　Y.Unitised-with-profitproductsII.Usesbid/offerspreadashidden
　　expensecharge
　　III.Usesfront-endloadstocover
　　acquisitioncosts
　　COURSE5:Fall2004-44-GOONTONEXTPAGE
　　AfternoonSession
　　COURSE5
　　AFTERNOONSESSION
　　APPLICATIONOFBASICACTUARIALPRINCIPLES
　　SECTIONA-WRITTENANSWER
　　COURSE5:Fall2004-45-GOONTONEXTPAGE
　　AfternoonSession
　　**BEGINNINGOFEXAMINATION**
　　COURSE5
　　AFTERNOONSESSION
　　BeginningWithQuestion9
 
　　9.(5points)InCanada,describethedesignofextendedhealthplansinthegroupmarket.
 
　　10.(3points)Describethereasonswhyaplansponsorwouldswitchfromadefinedbenefit
　　pensionplantoadefinedcontributionpensionplan.
　　COURSE5:Fall2004-46-GOONTONEXTPAGE
　　AfternoonSession
 
　　11.(5points)Youarepricingthelatestversionofalifeinsurancecompany’sflexible
　　premiumuniversallife(UL)product.
　　Withrespecttothecompany,youaregiventhefollowing:
　　??Superiorratingsfromthemajorratingsagencies
　　??Strongreputationintheestateplanningmarket
　　??Targetmarketconsistsofaffluent,sophisticatedretirees
　　??Averagefaceamountonpoliciesissignificantlyhigherthantheindustry
　　average
　　??ULsoldformanyyears
　　??NewULproductissimilartoitsbest-sellingproduct
　　Thenewproducthasthefollowingfeatures:
　　Commissions:
　　First-year:50%offirst-yearpremiumuptothetargetcommissionable
　　premium,plus3%offirst-yearpremiuminexcessofthe
　　targetcommissionablepremium
　　Renewal:3%ofpremiuminpolicyyear2onwards
　　Chargeback:100%offirst-yearcommissionsforlapsesinthefirst3
　　policyyears
　　Bonusrefund:returnofCOIchargesattheendofpolicyyear25
　　Surrendercharges:15%inpolicyyear1,gradinglinearlyto0%inpolicyyear
　　16
　　(a)Describehowtheinformationgivenabovewouldinfluenceyourlapse
　　rateassumption.
　　(b)Describetheeffectofthesurrenderchargeontheinvestmentriskand
　　theinvestmentstrategyforthisproduct.
　　COURSE5:Fall2004-47-GOONTONEXTPAGE
　　AfternoonSession
 
　　12.(7points)Forapropertyandcasualtyinsurancecompany,youaregiventhefollowing:
　　GrosspremiumratesIneffectfor6months
　　Policylength3months
　　TrendfactorsIncreaseatanexponentialrate
　　δ0.133
　　DistributionofclaimsUniform
　　Additionalloadings:
　　Commissions0.00
　　GeneralExpenses12.0%
　　Taxes3.5%
　　Profit4.0%
　　Incurredlossesforreportedclaimsbydevelopmentyear
　　AccidentYearDevelopmentYear
　　012
　　200110,432,53212,414,78912,787,542
　　200212,503,67215,248,731
　　200314,813,156
　　Nofurtherdevelopmentbeyondyeartwo.
　　AccidentYear
　　EarnedExposureUnits
　　NumberofIncurred
　　Claims
　　CredibilityFactor
　　2001106,4545,5690.0%
　　2002107,1275,60340.0%
　　2003107,9625,69160.0%
　　(a)(2points)Calculatetheexpectedultimateincurredlossesbyaccidentyear.
　　(b)(5points)CalculatethegrosspremiumratethatwilltakeeffectatMay1,
　　2004.
　　COURSE5:Fall2004-48-STOP
　　AfternoonSession
 
　　13.(5points)Withrespecttogrouphealthinsurance:
　　(a)Listthecriteriathatshouldbeconsideredwhenunderwritinglargegroups.
　　(b)Indicatewhythesecriteriaareimportant.
 
　　14.(5points)Describetheconsiderationsingroupinsurancefinancialreportingfor:
　　(a)Alternativefundingarrangements
　　(b)Administrativearrangements
 
　　15.(5points)InthecontextofU.S.insurancecompanysolvencyregulation:
　　(a)DescribetheroleofStateGuarantyFunds.
　　(b)Explaintheeffectofreinsuranceregulation.
 
　　16.(5points)Withrespecttogrouplongtermdisabilityandgrouplongtermcareinsurance
　　contracts:
　　(a)Describethefeaturesthatareimportantwhencalculatingclaimreserves.
　　(b)Describetheconsiderationsinpreparinganactualtoexpected(A/E)claim
　　terminationratestudy.
　　(c)DescribethestepsincalculatingIBNRreservesbythelossratiomethod.
　　**ENDOFEXAMINATION**
　　AFTERNOONSESSION
　　高顿网校之名言警句：只要愿意学习，就一定能够学会。 —— 列宁