高顿网校小编真诚祝报考北美精算师的你生活愉快，工作顺利，考试好运，事业有成！北美精算师SOA11月份考试真题2003Course5（*9课）是很重要的历年大纲哦。
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES
　　SECTION A-WRITTEN ANSWER
　　COURSE 5: Fall 2003 - 2 - GO ON TO NEXT PAGE
　　Morning Session
　　**BEGINNING OF EXAMINATION 5**
　　MORNING SESSION
　　1. (5 points) A large employer is considering offering a private pension plan.
　　(a) Describe the reasons for offering such a plan.
　　(b) Describe the process involved in designing and implementing such a plan.
　　2. (5 points)
　　(a) For basic group term life insurance, briefly describe each of the following items:
　　(i) Typical plan designs offered
　　(ii) Eligibility provisions
　　(iii) Continuity of coverage provisions
　　(b) Briefly describe how supplemental group term life insurance is different from
　　basic group term life insurance with respect to:
　　(i) Typical plan designs offered
　　(ii) Eligibility provisions
　　(iii) Continuity of coverage provisions
　　COURSE 5: Fall 2003 - 3 - GO ON TO NEXT PAGE
　　Morning Session
　　3. (5 points)
　　(a) Describe the reasons a life insurance company may reinsure its risk.
　　(b) ABC Life Insurance Company has a 40% quota share reinsurance treaty on a first
　　dollar basis. Its retention limit is $500,000 per policy.
　　Policy 1 Policy 2
　　Net Amount at Risk $750,000 X
　　Amount Retained R Y
　　Amount Reinsured on a First Dollar Basis S Z
　　Amount Reinsured on an Excess Basis T $100,000
　　Calculate the missing values in the table above.
　　Show all work.
　　4. (5 points) Explain the U.S. laws and regulations with respect to market conduct that
　　apply to a life insurance company and its agents.
　　5. (6 points) Mary and John, respectively 45 and 42 years old, are considering the purchase
　　of a non-participating whole life, joint last-to-die policy, paid-up at first death with:
　　?  a 5 year term individual rider life insurance convertible and renewable up
　　to age 65 for Mary and John;
　　?  a Critical Illness rider covering 50 illnesses for Mary and John;
　　?  a Disability income rider providing a lifetime benefit with a 2 week
　　waiting period for Mary and John.
　　(a) Describe briefly the policy and its riders.
　　(b) Describe alternatives to each coverage that could reduce the cost to Mary and
　　John.
　　COURSE 5: Fall 2003 - 4 - GO ON TO NEXT PAGE
　　Morning Session
　　6. (7 points) For a defined benefit pension plan, you are given:
　　Pension plan formula:
　　1.5% of final year’s salary for each year of service up to 10 years, plus
　　2.0% of final year’s salary for each year of service after 10 years.
　　Interest Rate 6%
　　Salary Growth Rate 4%
　　Pre-retirement decrements None
　　Assumed retirement age 65
　　(12)
　　a&&65 12
　　Assets at 1/1/2003 300,000
　　Assets at 1/1/2004 320,000
　　Contribution made on 12/31/2003 5,000
　　Funding method Projected unit credit
　　Employee Age at Hire Age on 1/1/2003 Salary on 1/1/2003
　　A 30 40 30,000
　　B 30 60 50,000
　　(a) Calculate the unfunded accrued liability at 1/1/2003.
　　(b) The actual accrued liability on 1/1/2004 is 350,000.
　　Calculate the total experience gain/loss as of that date.
　　Show all work.
　　COURSE 5: Fall 2003 - 5 - GO ON TO NEXT PAGE
　　Morning Session
　　7. (5 points) For a property and casualty insurance policy issued January 1, 2000, you are
　　given:
　　Effective Date Rate Change
　　May 1, 2000 +5%
　　November 1, 2000 +10%
　　Calendar Year
　　Earned Premium
　　Expected effective incurred losses, trended
　　and developed through December 31, 2002
　　2000 120,000 100,000
　　2001 130,000 110,000
　　2002 140,000 120,000
　　Expense ratio: 30%
　　Present average manual rate: 45
　　Assume all policies have a one-year term and the premium is uniformly
　　distributed.
　　Calculate the indicated average gross rate as of January 1, 2003.
　　Show all work.
　　世上没有不伤人心的感情，或多或少，或大或小，它都会在你的灵魂上留下伤痕的，以伤痕为代价换得感情的喜悦，以感情的喜悦作为回报的伤痕。这世界上，没有能回去的感情。就算真的回去了，你也会发现，一切已经面目全非。*10能回去的，只是存于心底的记忆。是的，回不去了，所以，我们只能一直往前。——高顿网校考试励志

 

 
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