下边为高顿网校小编给全国北美精算师考生准备的——历年北美精算师精选——SOA真题November2003Course5（第三部分），希望帮助你们多得一些分数。
　　9. (6 points) Describe the assumptions used in the valuation of a defined benefit pension
　　plan.
 
　　10. (6 points) For a life insurance company:
　　(a) Describe the components of interest rate risk that should be reflected in required
　　capital.
　　(b) Describe the treatment of interest rate risk in the required capital formulas for
　　Canada and the U.S.
　　COURSE 5: Fall 2003 - 32 - GO ON TO NEXT PAGE
　　Afternoon Session
 
　　11. (4 points) With respect to a large block of group major medical business that has been in
　　force for a number of years:
　　(a) Define each type of claim reserve and claim liability needed to establish reserves
　　for this business.
　　(b) Describe the primary considerations in establishing these reserves.
　　(c) Describe the most appropriate claim reserve method for this type of business and
　　explain why you chose this method.
 
　　12. (7 points) Describe the product features that impact the cost of group long term disability
　　(LTD) benefits.
 
　　13. (7 points) For an insurance company:
　　(a) Describe solvency reserves, earnings reserves, and tax reserves.
　　(b) Describe the differences between taxable earnings and pre-tax solvency earnings.
　　COURSE 5: Fall 2003 - 33 - STOP
　　Afternoon Session
 
　　14. (5 points) For a life insurance product, you are given:
　　Year
　　Distributable
　　Earnings
　　After Tax
　　Stockholder
　　Earnings
　　Solvency
　　Reserves
　　Required
　　Capital
　　Stock
　　Liabilities
　　
　　1 -6.00 0.10 1.00 0.40 5.30 10.00
　　2 1.50 0.30 1.20 0.50 3.80 7.00
　　3 2.30 0.45 0.00 0.00 0.00 0.00
　　(a) Describe the return on investment (ROI) and the return on equity (ROE).
　　(b) Calculate the ROE in the Year 1 using the average equity base.
　　(c) Calculate the 3 year weighted average ROE using the average equity base and a
　　9.5% discount rate.
　　Show all work.
　　15. (5 points) With respect to estimating expected claims for group life insurance, describe
　　the adjustments that can be made to a manual claims table, and the reasons for making
　　such adjustments.
　　**END OF EXAMINATION**
　　AFTERNOON SESSION
　　高顿网校之淳淳教诲：青年人的眼睛里燃烧着火焰，老年人的眼睛里放射出光芒。——韦尔连