请耐心回忆老师上课说的知识点，有遗漏的可以从下列大纲中找：精算师考试北美考区真题荟萃：November2003Course8I（第二堂课）。
　　3. Continued
　　You are given:
　　?  The male age 40 aggregate rate from the 1975-80 Ultimate Table is 1.56
　　per 1000.
　　?  40% of the current Nonsmoker class will qualify for the Preferred
　　Nonsmoker class of the 3-class product.
　　?  The Preferred Nonsmoker class of the 3-class product will experience 38%
　　of the aggregate 1975-80 Ultimate Table.
　　?  If a Super Preferred Nonsmoker class is added to a 3-class product, a 5%
　　discount in mortality is expected from the Preferred Nonsmoker class.
　　?  35% of the Preferred Nonsmoker class of a 3-class product will qualify for
　　the Super Preferred Nonsmoker class of a 4-class product.
　　(a) Evaluate the Preferred Nonsmoker underwriting definitions proposed by the
　　underwriters.
　　(b) Calculate the expected mortality rate for a male age 40 Preferred Nonsmoker for a
　　4-class product. Show all work.
　　(c) Describe considerations used in determining the amount of discount to be
　　assumed in developing a mortality assumption and a qualifying percentage.
　　COURSE 8I: Fall 2003 -5- GO ON TO NEXT PAGE
　　Individual Insurance
　　Morning Session
 
　　4. (7 points) ABC Life is demutualizing. One hundred million shares are to be allocated,
　　and each policy will receive 5 shares as a fixed allocation. You are given:
　　Number of
　　Inforce Policies
　　Base Policy: Actuarial
　　Contribution Per Policy
　　Riders: Actuarial
　　Contribution Per Policy
　　Product A 1 million 50 -25
　　Product B 1 million -25 25
　　Product C 1 million -25 0
　　Product D 1 million 15 10
　　(a) Describe considerations in calculating actuarial contributions.
　　(b) Explain considerations in the allocation of positive and negative actuarial
　　contributions.
　　(c) Determine the number of shares that each policyholder will receive for each of the
　　applicable methods of allocating policyholder contribution.
　　COURSE 8I: Fall 2003 -6- GO ON TO NEXT PAGE
　　Individual Insurance
　　Morning Session
 
　　5. (5 points) ABC Life is a stock life insurance company looking to grow its immediate
　　annuity sales volumes.
　　You are given:
　　?  The product is distributed through independent brokers to individual clients.
　　?  Annuity payment rates reflect the declining interest rates and lengthening life
　　expectancies of the last few years.
　　?  ABC Life has lost market share.
　　?  Current payment rates per $1,000 of single premium are 15% to 25% lower
　　than rates for competitors.
　　?  Commission rates are similar to those of competitors.
　　Financial information (in millions):
　　2001 2002
　　Premium $50.00 $50.00
　　Benefits $2.40 $6.60
　　Expenses $6.30 $6.40
　　Inv Inc on Solv Reserves $9.80 $13.70
　　Solvency Reserves $150.00 $198.00
　　Required Capital $1.50 $2.95
　　Inv Inc on Required Capital $0.06 $0.20
　　Benefit Reserves $130.00 $170.00
　　DAC Amortization $5.00 $9.50
　　Deferred Tax Provision $0.00 $0.00
　　GAAP Assets $49.66 $98.35
　　(a) Assess the applicability of possible pricing strategies.
　　(b) Calculate the distributable earnings for 2002, assuming solvency earnings are
　　taxed at 40%. Show all work.
　　COURSE 8I: Fall 2003 -7- GO ON TO NEXT PAGE
　　Individual Insurance
　　Morning Session
　　世上有两件事不能等：一、孝顺。二、行善。——高顿网校名人感触

 

 
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