2001年11月份SOA北美精算师历年真题集中Course5（一），大家请再接再厉，拿下明年的那张北美精算师资格证哦！
　　Society of Actuaries
　　COURSE 5
　　MORNING SESSION
　　APPLICATION OF BASIC ACTUARIAL PRINCIPLES
　　SECTION A-WRITTEN ANSWER
　　COURSE 5: November 2001 - 2 - GO ON TO NEXT PAGE
　　Morning Session
　　**BEGINNING OF EXAMINATION 5**
　　MORNING SESSION
 
　　1. (5 points) With respect to participating life insurance products,
　　(a) Explain the rationale for offering participating products.
　　(b) Describe the considerations in setting policyholder dividends.
　　(c) Describe the concerns regulators have with policyholder dividends.
 
　　2. (6 points) Describe the rating variables that should be considered when developing group
　　insurance medical claim costs.
 
　　3. (6 points) Describe each of the following provisions which can be included in an
　　individual disability income contract:
　　(a) Residual Disability Income Benefit;
　　(b) Guaranteed Insurability Option Benefit; and
　　(c) Cost Of Living Benefit.
　　COURSE 5: November 2001 - 3 - GO ON TO NEXT PAGE
　　Morning Session
 
　　4. (5 points) You are given the following retirement plan information for an individual:
　　Current Age 40
　　Entry Age 30
　　Retirement Age 65
　　Social Security Benefit $11,700
　　Current Salary $80,000
　　Annual Salary Growth 3%
　　Personal Savings Accumulation Rate 7%
　　Final Salary (at age 64) $162,624
　　Retirement Benefit 1% of final 5-year average salary times
　　years of service
　　Annuity Conversion Factor @ age 65 8.1958
　　The individual begins saving for retirement at his current age.
　　Calculate the level percent of salary that should be allocated to personal savings each
　　year to provide this individual with a 70% full replacement ratio. Show all work.
 
　　5. (8 points) Describe the following reserve methods for life insurance products:
　　(a) simplified net premium method;
　　(b) realistic net premium method;
　　(c) gross premium method; and
　　(d) accumulation method.
　　COURSE 5: November 2001 - 4 - GO ON TO NEXT PAGE
　　Morning Session
 
　　6. (5 points) You are given the following information for a defined benefit plan:
　　Plan Effective Date: 01/01/2001
　　Plan Year = Calendar Year
　　Normal Retirement Benefit: 2% of final three-year average pay for each year of service
　　Actuarial Cost Method: Entry Age Normal
　　Actuarial Assumptions:
　　Interest: 8.00%
　　Salary Scale: 5.00%
　　Preretirement termination other than death: None
　　Data for the 10 active participants as of 1/1/2001 (there are no inactive participants):
　　Age: 45
　　Past Service: 5 years
　　2001 Salary: $25,000
　　Plan Assets at 1/1/2001: 0
　　Selected annuity values: a&&65
　　12 10 b g =
　　a&&10 = 7
　　Selected Commutation Functions:
　　X DX NX N - 65 SX
　　S
　　X
　　N -SN65
　　40 245 3200 1.0000 7100
　　45 180 2100 1.2763 5000
　　65 50 0 3.3864 0
　　The supplemental liability is amortized over 10 years.
　　Determine the annual cost as of December 31, 2001 for the 2001 plan year based on an
　　initial valuation as of January 1, 2001.
　　Show all work.
　　COURSE 5: November 2001 - 5 - GO ON TO NEXT PAGE
　　Morning Session
　　没有尝试，就没有成功；唯有面对困难或危险，才会激起更高一程的决心和勇气。——高顿网校名人思想

 

 
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