SOA精算师真题网友2005年回忆版Course5（接第四部分），期待各位一次性迈过这场考试的这道坎！未来年薪百万不在话下。
　　21-22. Each of questions 21 through 22 consists of two lists. In the list at the left are two items,
　　lettered X and Y. In the list at the right are four items, numbered I, II, III and IV. EACH
　　of the lettered items is related in some way to EXACTLY TWO of the numbered items.
　　Match the lettered items (X and Y) with the numbered items (I, II, III, and IV) shown
　　below.
　　Indicate the related items using the following answer code:
　　X
　　Y
　　(A)
　　I and II
　　III and IV
　　(B)
　　I and III
　　II and IV
　　(C)
　　I and IV
　　II and III
　　(D)
　　II and III
　　I and IV
　　(E)
　　II and IV
　　I and III
　　21. X. Deferred tax liabilities created by
　　timing differences between U.S.
　　solvency and tax standards
　　I. Different carrying value for real
　　estate
　　Y. Deferred tax liabilities created by
　　permanent differences between
　　U.S. solvency and tax standards
　　II. Estimation of incurred but not
　　reported claims
　　III. Research and development tax credits
　　IV. Non-taxable investment income
　　22. X. Canadian federal jurisdiction I. Workers compensation
　　Y. Canadian provincial jurisdiction II. Employment insurance
　　III. Automobile insurance
　　IV. Maternity benefit
　　COURSE 5: Fall 2005 - 24 - GO ON TO NEXT PAGE
　　Morning Session
　　23. A homeowner insurance coverage is provided with a uniform loss distribution over the
　　interval rval 0 X  200.
　　Calculate the deductible amount if the desired expected loss is 50.
　　(A) 43
　　(B) 50
　　(C) 59
　　(D) 69
　　(E) None of the above
　　COURSE 5: Fall 2005 - 25 - GO ON TO NEXT PAGE
　　Morning Session
　　24. Given a joint last-to-die life insurance policy on lives x and y with estimated mortality
　　rates of:
　　t qx (t ) qy (t )
　　1 0.110 0.050
　　2 0.150 0.070
　　Determine the probability of a payment in year two.
　　(A) 0.011
　　(B) 0.019
　　(C) 0.023
　　(D) 0.028
　　(E) None of the above
　　COURSE 5: Fall 2005 - 26 - GO ON TO NEXT PAGE
　　Morning Session
　　25. All of the following are major considerations in financial reporting for group insurance
　　EXCEPT:
　　(A) Alternative funding methods
　　(B) Policyholder accounting
　　(C) Excess surplus
　　(D) Regulatory requirements
　　(E) Administrative arrangements
　　26. All of the following are common purposes of performing an actuarial valuation of a
　　company pension plan in the U.S. EXCEPT:
　　(A) To determine the maximum contribution that the company can deduct in any one
　　year for federal income tax purposes.
　　(B) To complete the annual filing required under state law.
　　(C) To establish plan costs and liabilities in connection with corporate mergers and
　　spin-offs.
　　(D) To provide a basis for the allocation of the assets of a terminated plan.
　　(E) To provide information to plan participants concerning the funding status of their
　　benefits.
　　COURSE 5: Fall 2005 - 27 - GO ON TO NEXT PAGE
　　Morning Session
　　27. For guaranty associations, all the following are true EXCEPT:
　　(A) They provide for the indemnification of losses suffered by policyholders of
　　insolvent companies.
　　(B) They give the public confidence in the ability of the insurance industry to deliver
　　on obligations.
　　(C) The guaranty association in the insolvent insurer’s state of domicile pays all
　　covered claims.
　　(D) They assess companies in proportion to premiums received.
　　(E) They generally avoid assuming the business of an insolvent company.
　　28. All of the following statements are true for a defined contribution plan EXCEPT:
　　(A) Employee assumes investment risk.
　　(B) Value of benefit increases with age.
　　(C) Benefit level directly affected by investment performance.
　　(D) Has high perceived value.
　　(E) Limited capacity to improve past service benefits.
　　COURSE 5: Fall 2005 - 28 - GO ON TO NEXT PAGE
　　Morning Session
　　29. You are given the following with respect to three U.S. domiciled companies:
　　? Company Y is a non-controlled corporation with 25% of its common shares owned
　　by Company X.
　　? Company Z is an unrelated corporation to both Company X and Company Y.
　　? The corporate tax rate is 40%.
　　? Company X pays $100 in dividends to company Y.
　　? Company Y then pays 100% of after-tax dividend revenue to Company Z.
　　Calculate the total income tax payable on these two dividend transfers.
　　(A) 0
　　(B) 19
　　(C) 58
　　(D) 64
　　(E) None of the above
　　COURSE 5: Fall 2005 - 29 - GO ON TO NEXT PAGE
　　Morning Session
　　30-35. Each of questions 30 through 35 consists 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.
　　30.
　　ASSERTION
　　In the U.S., self-insured group
　　medical plans are regulated at
　　both the federal and state levels.
　　BECAUSE
　　REASON
　　In the U.S., federal regulations
　　apply to employer sponsored
　　benefit plans and state law applies
　　to the business of insurance.
　　高顿网校之做人道理：如果只有火才能唤醒沉睡的欧洲，那么我宁愿自己被烧死，让从我的火刑堆上发出的光照亮这漫长的黑夜，打开那些紧闭的眼睛，将人类引进光明  的的的真理的殿堂。