SOA北美精算师的真题汇总November2004Course5（Part四），该部分资料室由高顿网校小编[*{7}*]编辑的哦。
　　15. For an insured with group long-term disability (LTD) benefits, you are given the
　　following:
　　Pre-disability monthly earnings 5,000
　　Formula LTD benefit 60% of pre-disability earnings
　　Work earnings during disability 1,500 per month
　　Other income None
　　A = Reduced LTD monthly benefit based on the proportionate loss formula
　　B = Reduced LTD monthly benefit based on the 50% offset benefit
　　Calculate A – B.
　　(A) –2,150
　　(B) –150
　　(C) –120
　　(D) 350
　　(E) 1,850
　　COURSE 5: Fall 2004 - 21 - GO ON TO NEXT PAGE
　　Morning Session
　　USE THIS PAGE FOR YOUR SCRATCH WORK
　　COURSE 5: Fall 2004 - 22 - GO ON TO NEXT PAGE
　　Morning Session
 
　　16. Company XYZ is re-pricing a universal life insurance product. You are given the
　　following:
　　Year 2003:
　　Profit margin: 3.5%
　　Premium margin: 75%
　　Annual sales: 20,000,000
　　Year 2004:
　　Price decrease: 20%
　　Projected annual sales: 22,500,000
　　Calculate the 2004 profit margin.
　　(A) –16.50%
　　(B) –14.65%
　　(C) –14.38%
　　(D) 2.80%
　　(E) 15.42%
　　COURSE 5: Fall 2004 - 23 - GO ON TO NEXT PAGE
　　Morning Session
　　USE THIS PAGE FOR YOUR SCRATCH WORK
　　COURSE 5: Fall 2004 - 24 - GO ON TO NEXT PAGE
　　Morning Session
 
　　17. Each of questions 17 through 20 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).
　　17. X. Generally accepted accounting
　　principles (GAAP)
　　I. Use of Interest Maintenance Reserve
　　Y. Statutory accounting II. Allows for capitalization of deferred
　　acquisition costs
　　III. Considers agent balances as
　　nonadmitted assets
 
　　18. X. Reinsurance reserves held by
　　ceding company
　　I. Coinsurance
　　Y. Reinsurance reserves held by
　　reinsurer
　　II. Modified coinsurance
　　III. Coinsurance with funds withheld
　　COURSE 5: Fall 2004 - 25 - GO ON TO NEXT PAGE
　　Morning Session
 
　　19. X. Defined contribution plan I. The benefit level is directly affected
　　by investment performance
　　Y. Defined benefit plan II. The benefits for employees who
　　change jobs frequently will likely be
　　inadequate
　　III. There is an opportunity for postretirement
　　benefit increases
 
　　20. X. Policy year data I. Most common method for compiling
　　actuarial data
　　Y. Accident year data II. Allows the pricing actuary to match
　　premiums and losses from one
　　accounting basis
　　III. Claims data almost always available
　　in this format
　　COURSE 5: Fall 2004 - 26 - GO ON TO NEXT PAGE
　　Morning Session
　　高顿网校之名人心语：人生须知负责任的苦处，才能知道尽责任的乐趣。——梁启超