高顿网校众小编们期待2014年度考生们一次过关，毕竟比N次的省时间和精力啊！北美地区SOA精算师历年真题November2003Course5（第5节课）是基础哦。
　　26. Rank in ascending order (smallest to largest) the mortality assumptions under the
　　following underwriting approaches.
　　I. Simplified issue
　　II. Nonmedical
　　III. Guaranteed issue
　　(A)
　　I
　　II
　　III
　　(B)
　　I
　　III
　　II
　　(C)
　　II
　　I
　　III
　　(D)
　　III
　　I
　　II
　　(E)
　　III
　　II
　　I
　　COURSE 5: Fall 2003 - 19 - GO ON TO NEXT PAGE
　　Morning Session
　　27. For dynamic life insurance produc ts, all of the following are true EXCEPT:
　　(A) Premiums are flexible.
　　(B) Commissions are a low percentage of premiums up to a “target premium.”
　　(C) Surrender charges reduce to zero over a number of years.
　　(D) Expense charges are usually a percentage of premiums plus a flat amount per
　　month.
　　(E) Death benefits are usually greater than or equal to the account value.
　　28. Rank in ascending order (smallest to largest) the following products according to the
　　level of investment risk transferred to policyholders.
　　I. Two-tiered annuity
　　II. Equity-indexed annuity
　　III. Variable universal life insurance
　　(A) IIIIII
　　(B) IIIIII
　　(C) IIIIII
　　(D) IIIIII
　　(E) IIIIII
　　COURSE 5: Fall 2003 - 20 - GO ON TO NEXT PAGE
　　Morning Session
　　29. A company may segment assets for all of the following reasons EXCEP T:
　　(A) To allow different lines of business to make independent investment choices.
　　(B) To simplify accounting.
　　(C) To back liabilities with assets of similar terms.
　　(D) To credit “new money” interest rates to policies.
　　(E) To back products that offer cash surrender values with liquid assets.
　　COURSE 5: Fall 2003 - 21 - GO ON TO NEXT PAGE
　　Morning Session
　　30. For a defined benefit pension plan, you are given:
　　Actuarial cost method: Traditional unit credit
　　Normal retirement benefit: 30 per month per year of service
　　Interest rate: 7.0%
　　Pre-retirement decrement other than death: None
　　Retirement age: 65
　　Participants as of January 1, 2002: 50 active participants, all age 55
　　Selected mortality value: q55 = 0.02
　　Normal cost for 2002: 150,000
　　All 50 participants are still active as of January 1, 2003.
　　Calculate the normal cost for 2003.
　　(A) 153,061
　　(B) 157,290
　　(C) 160,500
　　(D) 163,775
　　(E) 167,250
　　COURSE 5: Fall 2003 - 22 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2003 - 23 - GO ON TO NEXT PAGE
　　Morning Session
　　31. For a prescription drug plan, you are given:
　　All prescriptions cost at least $10.
　　The average prescription is $75.
　　The current plan has a $5 per prescription copay.
　　The current utilization is 8,500 annual prescriptions per 1,000 members.
　　The utilization will drop to 7,800 annual prescriptions per 1,000 members if the
　　per prescription copay is increased from $5 to $10.
　　Calculate the estimated change in the gross cost per member per month (PMPM) if the
　　copay is increased from $5 to $10.
　　(A) -$3.40
　　(B) -$3.90
　　(C) -$4.40
　　(D) -$4.60
　　(E) -$7.30
　　COURSE 5: Fall 2003 - 24 - GO ON TO NEXT PAGE
　　Morning Session
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　　COURSE 5: Fall 2003 - 25 - GO ON TO NEXT PAGE
　　Morning Session
　　学会知而不言，因为言多必失；学会自我解脱，因为这样才能自我超越；学会一个人静静思考，因为这样才能让自己更清醒、明白；学会用心看世界，因为这样才会看清人的本来面目；学会放下，因为只有放下了才能重新开始；学会感恩，因为拥有一颗感恩的心能帮助我们在逆境中寻求希望，在悲观中寻求快乐。——高顿网校极品语录

 

 
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