真心感谢对我们高顿网校北美精算师考试频道的信任与支持，北美精算师2003年11月全真题：Course5（第四节内容），反馈给大家好文哦。
　　17.
　　ASSERTION
　　Under a defined benefit pension
　　plan, the plan termination
　　liability is usually less than the
　　plan continuation liability.
　　BECAUSE
　　REASON
　　Under a defined benefit pension
　　plan, the plan termination
　　valuation omits salary projections.
　　18.
　　ASSERTION
　　Yearly Renewable Term (YRT)
　　reinsurance is commonly used
　　with annuities.
　　BECAUSE
　　REASON
　　YRT reinsurance removes the
　　insurer’s investment risk.
　　19.
　　ASSERTION
　　In the U.S., manual rates
　　developed for large group health
　　plans do not depend on the
　　group’s specific gender mix.
　　BECAUSE
　　REASON
　　In the U.S., the federal
　　government restricts the use of
　　gender-based employee
　　contribution rates for large group
　　health plans.
　　20.
　　ASSERTION
　　Incurred loss-development
　　factors may be greater than one.
　　BECAUSE
　　REASON
　　Final loss development in a claim
　　file may be negative.
　　COURSE 5: Fall 2003 - 13 - GO ON TO NEXT PAGE
　　Morning Session
　　21. For a property and casualty product, you are given:
　　Expected effective incurred losses (trended and developed) 50,000,000
　　Earned exposure units 2,000,000
　　Earned premium at current rates 66,000,000
　　Current average manual rate 33
　　Expense ratio 30%
　　Calculate the new average gross rate that should be charged.
　　(A) 25
　　(B) 30
　　(C) 36
　　(D) 47
　　(E) 83
　　COURSE 5: Fall 2003 - 14 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2003 - 15 - GO ON TO NEXT PAGE
　　Morning Session
　　22. For a variable income annuity, you are given:
　　Initial annual income benefit = 10,000
　　AIR = 4%
　　Policy Year Net Investment Return
　　1 5%
　　2 3%
　　3 1%
　　4 7%
　　5 2%
　　Calculate the annual income benefit in policy year 5.
　　(A) 9,799
　　(B) 9,991
　　(C) 10,009
　　(D) 10,205
　　(E) 11,699
　　COURSE 5: Fall 2003 - 16 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2003 - 17 - GO ON TO NEXT PAGE
　　Morning Session
　　23. All of the following are criteria for a risk to be insurable EXCEPT:
　　(A) The loss is definite.
　　(B) The loss is random.
　　(C) The exposure units are dependent.
　　(D) The economic value of insurance is calculable.
　　(E) It is economically feasible.
　　24. The administration of life insurance policies is similar to health insurance policies for all
　　of the following EXCEPT:
　　(A) Use of medical examination
　　(B) Premium collection
　　(C) Policy issue
　　(D) Application
　　(E) Claims administration
　　COURSE 5: Fall 2003 - 18 - GO ON TO NEXT PAGE
　　Morning Session
　　25. For overhead expense benefit policies, all the following are true EXCEPT:
　　(A) Elimination periods usually exceed 60 days.
　　(B) Benefit periods usually exceed two years.
　　(C) Actual expenses incurred are covered up to a maximum amount.
　　(D) Benefits are independent of other disability income policies replacing earned
　　income.
　　(E) Surrogate salary benefit is available.
　　每个人都要成长，这是一条必经的路，也是一条逃避不了的路。不愿成长的人，只能被现实拉扯着跌跌撞撞向前，即使遍体鳞伤、血肉模糊。没人在乎你是否痛了，他们有他们的路要走，他们很忙；也没人能够替你承受，这些都得是自己承担，无可奈何，无可避免。——高顿网校旷世名言

 

 
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