【北美】精算师那年考试SOA真题Course5（一），请耐心看高顿网校提供的8月大纲以及用心牢记。
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL
　　PRINCIPLES
　　SECTION A-WRITTEN ANSWER
　　COURSE 5: Fall 2005 - 1 - GO ON TO NEXT PAGE
　　Morning Session
　　**BEGINNING OF EXAMINATION**
　　COURSE 5
　　MORNING SESSION
　　1. (4 points) Describe the reasons an individual or a business would purchase:
　　(a) life insurance
　　(b) property and casualty insurance
　　2. (4 points) In developing medical claims costs for a group health plan:
　　(a) Describe the factors to consider in selecting the appropriate data sources.
　　(b) List the considerations in assessing the quality of data obtained from outside
　　sources.
　　(c) Describe considerations when normalizing historical data.
　　COURSE 5: Fall 2005 - 2 - GO ON TO NEXT PAGE
　　Morning Session
　　3. (6 points) Given the following information:
　　Annual Normal Retirement Benefit: 1.5% of final earnings times service from hire
　　Early Retirement Eligibility: Age 60
　　Early Retirement Benefit: Retirement Benefit accrued to date, reduced by
　　1/15 for each year before age 65
　　Normal form of Payment: Life Annuity, payable monthly
　　Cost Method: Projected Unit Credit
　　Actuarial Assumptions:
　　Interest 6%
　　Salary Increases 4%
　　Pre-retirement death and terminations: None
　　(12)
　　a????62 : 11.61
　　(12)
　　a????65 : 10.87
　　Participant data
　　Employee Birth date Hire date 2004 earnings
　　Brown 1/1/1965 1/1/2000 34,000
　　Smith 1/1/1940 1/1/1995 60,000
　　In prior years, the assumed retirement age was 65. Effective with the January 1, 2005
　　actuarial valuation, the assumed retirement age is changed to 62.
　　Calculate the change in the actuarial liability as of January 1, 2005 due to the change in
　　the assumed retirement age.
　　Show all work.
　　4. (4 points) Describe the expense philosophies used in pricing individual life insurance.
　　COURSE 5: Fall 2005 - 3 - GO ON TO NEXT PAGE
　　Morning Session
　　5. (6 points)
　　(a) Explain why mortality experience varies from company to company.
　　(b) Describe how breaking a group of lives into risk classes affects assumptions other
　　than mortality.
　　(c) You are dividing an existing group into two risk classifications and are given the
　　following information:
　　Before Risk Classification After Risk Classification
　　Total Group Group A Group B
　　Mortality ratio Weight Weight Weight
　　50% 25.0 25.0 0.0
　　100% 42.5 36.5 6.0
　　150% 37.5 0.0 37.5
　　175% 26.0 0.0 26.0
　　Product: Two-year term life insurance policy
　　Face amount: 100,000
　　( q( 50): 0.0035
　　q(51): 0.0039
　　Interest: 6% per annum
　　Expense loading: 0%
　　Calculate the single premium issued to a 50 year old from Group B before and
　　after risk classification.
　　Show all work.
　　COURSE 5: Fall 2005 - 4 - GO ON TO NEXT PAGE
　　Morning Session
　　高顿网校之生活感悟：理想是指路明灯。没有理想，就没有坚定的方向，而没有方向，就没有生活。