北美精算师考试SOA——真题精华篇November2004Course5（一），是高顿网校小编8月4日为您精心编制的。
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES
　　SECTION A-WRITTEN ANSWER
　　COURSE 5: Fall 2004 - 2 - GO ON TO NEXT PAGE
　　Morning Session
　　**BEGINNING OF EXAMINATION**
　　COURSE 5
　　MORNING SESSION
 
　　1. (4 points)
　　(a) Describe the coverage in a business overhead expense disability income policy.
　　(b) You are given the following information:
　　Maximum monthly benefit 30,000
　　Maximum multiple of monthly benefit 15
　　Maximum benefit period 24 months
　　Insured start of disability January 1, 2003
　　Insured end of disability March 1, 2005
　　Elimination period 90 days
　　Calculate the payout to the insured for each of the scenarios:
　　Scenario Monthly Overhead Expense
　　I 36,000
　　II 18,000
　　III 22,500
　　Show all work.
 
　　2. (6 points) With respect to group health care benefits:
　　(a) Describe the various providers.
　　(b) Describe the various buyers.
　　COURSE 5: Fall 2004 - 3 - GO ON TO NEXT PAGE
　　Morning Session
 
　　3. (4 points)
　　(a) Describe the actions a life insurance company can take to limit the effect of
　　policyholder misrepresentation.
　　(b) Given the following information for a company that offers life insurance with
　　smoker and nonsmoker rates:
　　Actual smokers 30% of insured
　　Smokers premium rate 5 per 1,000
　　Non-smoker premium rate 3 per 1,000
　　Expenses None
　　Calculate the amount of profit lost per 1,000 if 10% of smokers lied about
　　smoking and were issued as non-smokers.
　　Show all work.
　　COURSE 5: Fall 2004 - 4 - GO ON TO NEXT PAGE
　　Morning Session
 
　　4. (6 points) For a defined benefit pension plan, you are given the following information:
　　Plan formula: 1% × 3-year Final Average Earnings × years of service from hire
　　Plan participants as of January 1, 2005:
　　Participant
　　Attained
　　Age
　　Prior
　　Year
　　Earnings
　　Service
　　to Date
　　Probability of
　　surviving in
　　service to age 65
　　Temporary
　　employment-based life
　　annuity of 1 per year
　　X 40 35,000 0 0.5040 11.8338
　　Y 50 50,000 10 0.6547 9.1844
　　Actuarial assumptions:
　　(12)
　　a????65 9.4131
　　Interest rate 7%
　　Assumed future annual salary increases 5%
　　Pay increases Beginning of the year
　　Actuarial cost method Entry age normal
　　Normal retirement age 65
　　Benefits payable for termination prior to
　　normal retirement age
　　None
　　Calculate the plan’s normal cost and accrued liability as of January 1, 2005.
　　Show all work.
 
　　5. (3 points) For variable annuities:
　　(a) Describe common death benefit options.
　　(b) Describe the effect of a decline in account value due to investment performance
　　for each death benefit option.
　　COURSE 5: Fall 2004 - 5 - GO ON TO NEXT PAGE
　　Morning Session
 
　　6. (7 points) Describe the steps an insurance company takes to develop an individual life
　　insurance product.
 
　　7. (5 points) For a current medical plan and a proposed change to that plan, you are given
　　the following:
　　Deductible Coinsurance Out-of-pocket maximum
　　(excluding deductible)
　　Lifetime
　　maximum
　　Current Plan 100 80% 1,000 None
　　Proposed Plan 200 75% 1,400 None
　　Manual cumulative probability distribution
　　Range of Claims Frequency
　　Average
　　Annual
　　Claims
　　Annual
　　cost
　　Accumulated
　　Frequency
　　Accumulated
　　Annual Cost
　　0 0.25 0 0.00 1.00 3,500
　　0.01–50.00 0.05 40 2.00 0.75 3,500
　　50.01-150.00 0.10 100 10.00 0.70 3,498
　　150.01-250.00 0.20 210 42.00 0.60 3,488
　　…… …… …… …… …… ……
　　4,000.01-5,000.00 0.03 4,500 135.00 0.12 2,500
　　5,000.01-6,000.00 0.02 5,400 108.00 0.09 2,387
　　Assuming no change in utilization, calculate the percentage change on net medical claims
　　for the proposed plan change.
　　Show all work.
　　高顿网校之名人哲理放送：我们的地位向上升，我们的责任心就逐步加重。升得愈高，责任愈重。权力的扩大使责任加重。——雨果