北美精算师November2004Course5（第2部分）——历年SOA真题，相关的北美精算师亲赶紧鼠标点击进来学习。
　　8. (5 points) Describe the types of insurance company risk that are typically addressed by
　　required capital formulas.
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　　Morning Session
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　　Morning Session
　　COURSE 5
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES
　　SECTION B-MULTIPLE CHOICE
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　　Morning Session
　　1. Under Medicaid, all of the following services are mandatory EXCEPT:
　　(A) Prosthetic devices
　　(B) Lab and x-ray
　　(C) Vaccines for children
　　(D) Home health care
　　(E) Family planning
　　2. In the U.S., all of the following entities pay income taxes EXCEPT:
　　(A) Mutual funds
　　(B) Non-qualified trusts
　　(C) Common-law partnerships
　　(D) Legal partnerships
　　(E) Large corporations
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　　Morning Session
　　3. With respect to market value adjustments, all of the following are true EXCEPT:
　　(A) Allows the company to reflect the market value of the liabilities when the policy
　　is surrendered
　　(B) Works in the policyowner’s favor when interest rates decline
　　(C) Adds equity and stability for the company
　　(D) Adds equity and stability for the policyholder
　　(E) Offsets the effect of adverse cash flows
　　4. For the traditional unit credit cost method, all of the following statements are true
　　EXCEPT:
　　(A) Would be used to determine plan termination liability
　　(B) Is a benefit allocation cost method
　　(C) Increase in accumulated plan benefit due to plan amendment increases normal
　　cost
　　(D) For a participant, the normal cost for a level benefit is likely to rise from year to
　　year
　　(E) Actuarial liability is equal to the actuarial value of the participant’s cumulative
　　benefit on the valuation date
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　　Morning Session
　　5. All of the following are bases for insurance company taxes EXCEPT:
　　(A) Earnings
　　(B) Capital
　　(C) Premiums
　　(D) Reserves
　　(E) Investment income less expenses
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　　Morning Session
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　　Morning Session
　　6. Each of questions 6 through 11 consist of an assertion in the left-hand column and a
　　reason in the right-hand column. Code your answer to each question by blackening
　　space:
　　(A) If both the assertion and the reason are true statements, and the reason is a correct
　　explanation of the assertion.
　　(B) If both the assertion and the reason are true statements, but the reason is NOT a
　　correct explanation of the assertion.
　　(C) If the assertion is a true statement, but the reason is a false statement.
　　(D) If the assertion is a false statement, but the reason is a true statement.
　　(E) If both the assertion and the reason are false statements.
 
　　6.
　　ASSERTION
　　Term to 100 is permanent
　　insurance.
　　BECAUSE
　　REASON
　　Term to 100 cash values are
　　similar to those of whole life
　　insurance.
　　7.
　　ASSERTION
　　The cost of a 31-day grace period
　　provision in an individual health
　　insurance policy is relatively
　　more than the cost of a similar
　　provision in an individual life
　　insurance policy.
　　BECAUSE
　　REASON
　　Modal premium loadings for
　　individual health insurance are
　　higher than those for individual
　　life insurance.
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　　Morning Session
　　8.
　　ASSERTION
　　During the lifetime of the debtor,
　　group credit life insurance can be
　　very profitable to the debtor.
　　BECAUSE
　　REASON
　　Dividends payable under a group
　　credit life insurance policy are
　　paid to the debtor.
　　9.
　　ASSERTION
　　For small group health business,
　　many states have risk pooling
　　programs.
　　BECAUSE
　　REASON
　　For small group health business, it
　　is necessary to distribute
　　additional risks associated with the
　　guaranteed issue requirement.
　　10.
　　ASSERTION
　　In a life insurance company, there
　　is a strong tendency to favor
　　solvency earnings as the primary
　　driver of pricing.
　　BECAUSE
　　REASON
　　In a life insurance company,
　　solvency earnings drive
　　stockholder investments in the
　　business.
　　高顿网校之名人语录：我们不是为自己而生，我们的国家赋予我们应尽的责任。——西塞罗