以下是SOA历年真题November2004Course5（二）——北美精算师考试，全因为请耐心看下去哦。高顿网校小编也因此花了好久才制作完成的。
　　COURSE 5: Fall 2004 - 38 - GO ON TO NEXT PAGE
　　Morning Session
　　32. For an automobile insurance policy, Other Than Collision (OTC) premiums usually vary
　　for all of the following EXCEPT:
　　(A) Age of policyholder
　　(B) Territory
　　(C) Expectation as to ease of damage to vehicle
　　(D) Vehicle value
　　(E) Cost to repair vehicle
 
　　33. Group supplemental life plans differ from basic group life coverage in all of the
　　following ways EXCEPT:
　　(A) Minimum participation limits are more liberal
　　(B) Evidence of insurability is more stringent
　　(C) Suicide exclusion is common
　　(D) If a disability provision is included, it is usually limited to waiver of premium
　　(E) Contributions are generally subsidized by the employer
　　COURSE 5: Fall 2004 - 39 - GO ON TO NEXT PAGE
　　Morning Session
 
　　34. In the US, a policyholder can, under certain conditions, perform all of the following
　　without incurring taxable income EXCEPT:
　　(A) Exchange a life insurance policy for a life insurance policy
　　(B) Exchange a life insurance policy for an annuity policy
　　(C) Exchange an annuity policy for an annuity policy
　　(D) Exchange an annuity policy for a life insurance policy
　　(E) Take a policy loan against a life insurance policy
 
　　35. Regarding the Health Insurance Portability and Accountability Act (HIPAA), all of the
　　following are true EXCEPT:
　　(A) Restricts post-issue underwriting during claims adjudication process
　　(B) Defines a small employer group
　　(C) Requires underwriters to offer insurance to all groups regardless of
　　industry/occupation
　　(D) Requires HMOs to offer all major medical and comprehensive health insurance
　　products on a guaranteed acceptance and renewal basis
　　(E) Restricts application of pre-existing condition limitation or exclusions for
　　individual employees who have had continuous coverage for more than 12
　　months
　　COURSE 5: Fall 2004 - 40 - GO ON TO NEXT PAGE
　　Morning Session
 
　　36. Under the traditional unit credit actuarial cost method, all of the following affect future
　　normal costs EXCEPT:
　　(A) aging of active employees
　　(B) actual withdrawal experience
　　(C) actual death experience
　　(D) actual number of new employees
　　(E) actual investment performance
 
　　37. In the Accumulation Reserve method used for universal life insurance, all of the
　　following can be used to amortize acquisition expenses EXCEPT:
　　(A) Income from surrender charges
　　(B) Premiums
　　(C) Interest margins
　　(D) Cost of insurance margins
　　(E) Expense margins
　　COURSE 5: Fall 2004 - 41 - GO ON TO NEXT PAGE
　　Morning Session
　　USE THIS PAGE FOR YOUR SCRATCH WORK
　　COURSE 5: Fall 2004 - 42 - GO ON TO NEXT PAGE
　　Morning Session
 
　　38. Each of questions 38 through 40 consist of two lists. In the list at the left are two items,
　　lettered X and Y. In the list at the right are three items, numbered I, II, and III. ONE of
　　the lettered items is related in some way to EXACTLY TWO of the numbered items.
　　Indicate the related items using the following answer code:
　　Lettered Item
　　Is Related to Numbered Items
　　(A)
　　X
　　I and II only
　　(B)
　　X
　　II and III only
　　(C)
　　Y
　　I and II only
　　(D)
　　Y
　　I and III only
　　(E)
　　The correct answer is not given by (A), (B), (C) or (D).
　　38. X. Anti-selection I. Function of the inherent degree of
　　fluctuation in the benefit and in the
　　volume of business
　　Y. Claims volatility II. Addressed through the initial plan
　　design
　　III. Limited by provisions restricting
　　payment of claims
　　COURSE 5: Fall 2004 - 43 - STOP
　　Morning Session
　　39. X. Hazard I. Collision
　　Y. Peril II. Poor wiring
　　III. Dishonesty
　　40. X. Variable universal life products I. Passes full investment risk to the
　　policyholder
　　Y. Unitised-with-profit products II. Uses bid/offer spread as hidden
　　expense charge
　　III. Uses front-en
　　d loads to cover
　　acquisition costs
　　COURSE 5: Fall 2004 - 44 - GO ON TO NEXT PAGE
　　Afternoon Session
　　COURSE 5
　　AFTERNOON SESSION
　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES
　　SECTION A-WRITTEN ANSWER
　　COURSE 5: Fall 2004 - 45 - GO ON TO NEXT PAGE
　　Afternoon Session
　　**BEGINNING OF EXAMINATION**
　　COURSE 5
　　AFTERNOON SESSION
　　Beginning With Question 9
　　9. (5 points) In Canada, describe the design of extended health plans in the group market.
　　10. (3 points) Describe the reasons why a plan sponsor would switch from a defined benefit
　　pension plan to a defined contribution pension plan.
　　COURSE 5: Fall 2004 - 46 - GO ON TO NEXT PAGE
　　Afternoon Session
　　11. (5 points) You are pricing the latest version of a life insurance company’s flexible
　　premium universal life (UL) product.
　　With respect to the company, you are given the following:
　　?? Superior ratings from the major ratings agencies
　　?? Strong reputation in the estate planning market
　　?? Target market consists of affluent, sophisticated retirees
　　?? Average face amount on policies is significantly higher than the industry
　　average
　　?? UL sold for many years
　　?? New UL product is similar to its best-selling product
　　The new product has the following features:
　　Commissions:
　　First-year: 50% of first-year premium up to the target commissionable
　　premium, plus 3% of first-year premium in excess of the
　　target commissionable premium
　　Renewal: 3% of premium in policy year 2 onwards
　　Chargeback: 100% of first-year commissions for lapses in the first 3
　　policy years
　　Bonus refund: return of COI charges at the end of policy year 25
　　Surrender charges: 15% in policy year 1, grading linearly to 0% in policy year
　　16
　　(a) Describe how the information given above would influence your lapse
　　rate assumption.
　　(b) Describe the effect of the surrender charge on the investment risk and
　　the investment strategy for this product.
　　COURSE 5: Fall 2004 - 47 - GO ON TO NEXT PAGE
　　Afternoon Session
　　12. (7 points) For a property and casualty insurance company, you are given the following:
　　Gross premium rates In effect for 6 months
　　Policy length 3 months
　　Trend factors Increase at an exponential rate
　　δ 0.133
　　Distribution of claims Uniform
　　Additional loadings:
　　Commissions 0.00
　　General Expenses 12.0%
　　Taxes 3.5%
　　Profit 4.0%
　　Incurred losses for reported claims by development year
　　Accident Year Development Year
　　0 1 2
　　2001 10,432,532 12,414,789 12,787,542
　　2002 12,503,672 15,248,731
　　2003 14,813,156
　　No further development beyond year two.
　　Accident Year
　　Earned Exposure Units
　　Number of Incurred
　　Claims
　　Credibility Factor
　　2001 106,454 5,569 0.0%
　　2002 107,127 5,603 40.0%
　　2003 107,962 5,691 60.0%
　　(a) (2 points) Calculate the expected ultimate incurred losses by accident year.
　　(b) (5 points) Calculate the gross premium rate that will take effect at May 1,
　　2004.
　　COURSE 5: Fall 2004 - 48 - STOP
　　Afternoon Session
　　13. (5 points) With respect to group health insurance:
　　(a) List the criteria that should be considered when underwriting large groups.
　　(b) Indicate why these criteria are important.
　　14. (5 points) Describe the considerations in group insurance financial reporting for:
　　(a) Alternative funding arrangements
　　(b) Administrative arrangements
　　15. (5 points) In the context of U.S. insurance company solvency regulation:
　　(a) Describe the role of State Guaranty Funds.
　　(b) Explain the effect of reinsurance regulation.
　　16. (5 points) With respect to group long term disability and group long term care insurance
　　contracts:
　　(a) Describe the features that are important when calculating claim reserves.
　　(b) Describe the considerations in preparing an actual to expected (A/E) cl
　　aim
　　termination rate study.
　　(c) Describe the steps in calculating IBNR reserves by the loss ratio method.
　　**END OF EXAMINATION**
　　AFTERNOON SESSION
　　高顿网校之短句汇编：用强烈欲望作为达成梦想的后盾，使欲望变得狂热，让它成为你脑中最重要的一件事。