北美精算師SOA歷年真題:November2004Course5
發布時間：2014-02-26 共8頁
8. (5 points) Describe the types of insurance company risk that are typically addressed by
required capital formulas.
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Morning Session
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Morning Session
COURSE 5
MORNING SESSION
APPLICATION OF BASIC ACTUARIAL PRINCIPLES
SECTION B-MULTIPLE CHOICE
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Morning Session
1. Under Medicaid, all of the following services are mandatory EXCEPT:
(A) Prosthetic devices
(B) Lab and x-ray
(C) Vaccines for children
(D) Home health care
(E) Family planning
2. In the U.S., all of the following entities pay income taxes EXCEPT:
(A) Mutual funds
(B) Non-qualified trusts
(C) Common-law partnerships
(D) Legal partnerships
(E) Large corporations
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Morning Session
3. With respect to market value adjustments, all of the following are true EXCEPT:
(A) Allows the company to reflect the market value of the liabilities when the policy
is surrendered
(B) Works in the policyowner’s favor when interest rates decline
(C) Adds equity and stability for the company
(D) Adds equity and stability for the policyholder
(E) Offsets the effect of adverse cash flows
4. For the traditional unit credit cost method, all of the following statements are true
EXCEPT:
(A) Would be used to determine plan termination liability
(B) Is a benefit allocation cost method
(C) Increase in accumulated plan benefit due to plan amendment increases normal
cost
(D) For a participant, the normal cost for a level benefit is likely to rise from year to
year
(E) Actuarial liability is equal to the actuarial value of the participant’s cumulative
benefit on the valuation date
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Morning Session
5. All of the following are bases for insurance company taxes EXCEPT:
(A) Earnings
(B) Capital
(C) Premiums
(D) Reserves
(E) Investment income less expenses
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Morning Session
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Morning Session
6. Each of questions 6 through 11 consist of an assertion in the left-hand column and a
reason in the right-hand column. Code your answer to each question by blackening
space:
(A) If both the assertion and the reason are true statements, and the reason is a correct
explanation of the assertion.
(B) If both the assertion and the reason are true statements, but the reason is NOT a
correct explanation of the assertion.
(C) If the assertion is a true statement, but the reason is a false statement.
(D) If the assertion is a false statement, but the reason is a true statement.
(E) If both the assertion and the reason are false statements.
6.
ASSERTION
Term to 100 is permanent
insurance.
BECAUSE
REASON
Term to 100 cash values are
similar to those of whole life
insurance.
7.
ASSERTION
The cost of a 31-day grace period
provision in an individual health
insurance policy is relatively
more than the cost of a similar
provision in an individual life
insurance policy.
BECAUSE
REASON
Modal premium loadings for
individual health insurance are
higher than those for individual
life insurance.
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Morning Session
8.
ASSERTION
During the lifetime of the debtor,
group credit life insurance can be
very profitable to the debtor.
BECAUSE
REASON
Dividends payable under a group
credit life insurance policy are
paid to the debtor.
9.
ASSERTION
For small group health business,
many states have risk pooling
programs.
BECAUSE
REASON
For small group health business, it
is necessary to distribute
additional risks associated with the
guaranteed issue requirement.
10.
ASSERTION
In a life insurance company, there
is a strong tendency to favor
solvency earnings as the primary
driver of pricing.
BECAUSE
REASON
In a life insurance company,
solvency earnings drive
stockholder investments in the
business.
