【北美精算师大纲】经典SOA往届真题Course5（最后一块拼接），祝愿您知识点一字不漏全记住，精算师考试超水平发挥！
　　40. X. Canadian MCCSR Tier 1 capital I. Contributed capital
　　Y. Canadian MCCSR Tier 2 capital II. Deduction for 100% of negative
　　reserves
　　III. Subordinated debt
　　**END OF EXAMINATION**
　　MORNING SESSION
　　COURSE 5: Fall 2005 - 33 - STOP
　　Morning Session
　　COURSE 5
　　AFTERNOON SESSION
　　APPLICATION OF BASIC ACTUARIAL
　　PRINCIPLES
　　SECTION A – WRITTEN ANSWER
　　COURSE 5: Fall 2005 - 1 - GO ON TO NEXT PAGE
　　Afternoon Session
　　**BEGINNING OF EXAMINATION**
　　COURSE 5
　　AFTERNOON SESSION
　　Beginning with Question 9
　　9. (4 points) Describe the objectives of ratemaking in Property and Casualty insurance.
　　10. (5 points)
　　(a) Describe the difference between:
　　i. yearly renewable term (YRT) reinsurance
　　ii. coinsurance
　　(b) Describe the difference between:
　　i. coinsurance
　　ii. modified coinsurance
　　iii. coinsurance with funds withheld
　　(c) Describe the difference between:
　　i. automatic reinsurance
　　ii. facultative reinsurance
　　(d) A life insurance company has:
　　? an excess reinsurance agreement with a $1,000,000 retention limit
　　? a 40% first-dollar quota share reinsurance agreement
　　Calculate the excess and quota share reinsurance amounts for:
　　i. $800,000 term policy
　　ii. $2,000,000 term policy
　　Show all work.
　　COURSE 5: Fall 2005 - 2 - GO ON TO NEXT PAGE
　　Afternoon Session
　　11. (6 points) You are given the following data for a proposed life insurance product:
　　t AftTax
　　SolvEarn
　　Req
　　Cap
　　Solv
　　Res
　　Ben
　　Res DAC Tax InvInc
　　RC
　　TaxInvInc
　　RC
　　1 -50 10 12 19 100 -40 0 0
　　2 10.2 9.8 25 31 92 6.8 0.6 0.24
　　3 10.2 9.5 33 38 84 6.8 0.59 0.24
　　After Tax Interest Rate Earned on Assets: 3.6%
　　Hurdle Rate: 10%
　　ReqCap(0): 0
　　(a) Describe the considerations in determining which accounting basis should be used
　　to determine the profits of this product.
　　(b) Calculate EmbeddedValue (3) using distributable earnings as profits.
　　(c) Calculate the return on assets for the first three years using distributable earnings
　　as profits and discounting at the after tax earnings rate.
　　12. (6 points) With respect to a life insurance company:
　　(a) Describe the objectives of investment regulation and how they can be achieved.
　　(b) Describe the NAIC regulation for:
　　i. the valuation of assets
　　ii. the valuation of reserves
　　COURSE 5: Fall 2005 - 3 - GO ON TO NEXT PAGE
　　Afternoon Session
　　13. (6 points) With respect to U.S. medical benefit plans, describe the various provisions that
　　may be used for cost sharing:
　　(a) with the insured
　　(b) with the provider
　　14. (4 points)
　　(a) Describe the typical and alternate methods of disclosing policy loans on a life
　　insurance company’s balance sheet and income statement.
　　(b) You are given the following:
　　End of Year Invested Assets 3,000
　　End of Year Policy Loans In-Force 500
　　End of Year Reserves 3,500
　　Beginning of Year Reserves 3,300
　　Premiums 300
　　Interest on Invested Assets 180
　　Interest on Policy Loans 25
　　Benefits Paid 215
　　Expenses 30
　　Tax Rate 35%
　　Prepare a balance sheet and an income statement using a valid method of
　　reflecting policy loans.
　　15. (5 points) Regardless of accounting basis, describe the four widely used reserve methods
　　for individual life insurance.
　　COURSE 5: Fall 2005 - 4 - STOP
　　Afternoon Session
　　16. (4 points) You are given the following information regarding a long-term disability
　　insurance product:
　　Benefit: $5,000 payable mid-month for 3 months
　　Elimination period: 1 month
　　Monthly interest rate: 1%
　　Pending factor: 70% for all claims
　　Continuance Table*
　　Claim Duration (months)
　　0 100
　　1 90
　　2 80
　　3 70
　　4 60
　　*Continuance table values for the middle of a month can be computed through
　　averaging
　　(a) Explain the reserve methodology for open claims.
　　(b) Calculate the tabular reserves at the end of month 1.
　　(c) Explain the reserve methodology for pending claims.
　　(d) Calculate the pending reserve for a claim reported at the end of month 3.
　　Show all work.
　　**END OF EXAMINATION**
　　高顿网校之金玉良言：朝着一定目标走去是“志”，一鼓作气中途绝不停止是“气”，两者合起来就是“志气”。一切事业的成败都取决于此。