北美精算师往届SOA真题奉送Course5（第二堂课），供大家北美精算师考前热身记忆的。
　　6. (7 points)
　　(a) Explain why it is difficult to apply the general principles of income taxation to the
　　life insurance industry and its products.
　　(b) Describe the policyholder taxation of life products in Canada and the U.S.
　　7. (4 points)
　　(a) Describe the typical approaches for providing old-age financial security.
　　(b) Comment on the differences between pay-as-you-go and funded financing of
　　public plans.
　　8. (5 points)
　　(a) Describe the product features of accumulation annuities.
　　(b) Describe the types of income annuities.
　　COURSE 5: Fall 2005 - 5 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2005 - 6 - GO ON TO NEXT PAGE
　　Morning Session
　　COURSE 5
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL
　　PRINCIPLES
　　SECTION B-MULTIPLE CHOICE
　　COURSE 5: Fall 2005 - 7 - GO ON TO NEXT PAGE
　　Morning Session
　　1-6. Each of questions 1 through 6 consists 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).
　　1. X. Flexible Premium Universal Life I. Lower capital requirements
　　Y. Variable Universal Life II. Competition has a major effect on
　　the credited interest rate
　　III. Priced with a lower profit margin
　　2. X. Markov State Transition I. Designed for a data-poor
　　environment.
　　Y. Rational Artificial Intelligence II. Utilizes benchmark database future
　　costs developed through a process of
　　triangulation.
　　III. Identifies patterns of underlying data
　　to facilitate the prediction of future
　　costs.
　　COURSE 5: Fall 2005 - 8 - GO ON TO NEXT PAGE
　　Morning Session
　　3. X. Medicare – Hospital Insurance I. Deductible adjusted annually
　　Y. Medicare – Supplementary Medical
　　Insurance
　　II. Coinsurance
　　III. Payroll Tax
　　4. X. HMO I. Covers a local service area
　　Y. PPO II. Does not take the insurance risk
　　III. Performs utilization reviews
　　5. X. Preferred risks I. Higher placement rate
　　Y. Residual risks II. Higher lapse rates
　　III. Higher average policy size
　　6. X. Normal cost I. Past service benefits
　　Y. Supplemental cost II. Future service benefits
　　III. Retroactive plan amendments
　　COURSE 5: Fall 2005 - 9 - GO ON TO NEXT PAGE
　　Morning Session
　　7. To limit anti-selection on group supplemental life plans, insurers use all of the
　　following EXCEPT:
　　(A) Limited coverage amounts without evidence of insurability
　　(B) Suicide exclusion
　　(C) Statement of Good Health required for certain amounts
　　(D) Minimum participation requirements that are higher than for basic group term life
　　(E) Step-rated premium structure
　　8. In Canada, the appointed actuary is required to file a report with the annual statements
　　that provides the regulatory authorities with all of the following EXCEPT:
　　(A) A description of any approximations used
　　(B) A signed statement that affirms compliance with the generally accepted
　　accounting principles published by the Canadian Institute of Chartered
　　Accountants (CICA)
　　(C) Any changes in the assumptions from the prior annual filing and the effect thereof
　　(D) A complete justification for each assumption
　　(E) A signed copy of the opinion of the appointed actuary
　　COURSE 5: Fall 2005 - 10 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2005 - 11 - GO ON TO NEXT PAGE
　　Morning Session
　　高顿网校之名人信念：别因为落入了一把牛毛就把一锅奶油泼掉，别因为犯了一点错误就把一生的事业扔掉。