北美精算師SOA歷年真題:November2004Course5
發布時間：2014-02-26 共8頁
27. For a dynamic life insurance product at policy year t, you are given the following:
Account value 40,000
Surrender charge as a percentage of the account value 30%
Account value not subject to surrender charge 10%
Account value withdrawn 15%
Calculate the partial withdrawal charge.
(A) 0
(B) 600
(C) 1,620
(D) 1,800
(E) 10,800
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28. For a pension plan, you are given the following:
Actuarial cost method: Projected unit credit
Normal retirement benefit: 2% of final salary for each year of service
Actuarial assumptions:
Interest rate 7%
Annual salary increase 5%
Pre-retirement decrement None
Retirement age 65
(12)
a65 8.33
Data for the sole participant:
Age at hire 30
Age at January 1, 2003 45
Salary at January 1, 2003 40,000
Actual 2003 salary increase 10%
Calculate the experience loss for the plan as of January 1, 2004.
(A) –2,940
(B) –3,108
(C) –3,315
(D) –3,547
(E) –3,724
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29. For a Property and Casualty insurer, you are given the following:
• Paid loss development factors based on cumulative payments.
1/0 2/1 3/2 ∞ / 3
1.63 1.23 1.12 1.02
• For accident year 2003 you have paid claims of 54,000 as of duration 1 (December
31, 2004).
• Expected loss ratio is 75%.
• Earned premium for accident year 2003 is 95,000
Using the chain ladder method, calculate the estimated loss reserves for accident year
2003 as of December 31, 2004.
(A) 17,250
(B) 20,544
(C) 21,878
(D) 69,681
(E) 75,878
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30. A person, with current wealth of 25, has a utility function given by μ (x)=100x−x2.
Calculate the maximum wager this person would make in a game where there is a 20%
chance of winning 10 plus the return of the wager.
(A) 1.1
(B) 1.3
(C) 1.9
(D) 2.0
(E) 2.5
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31. For a dynamic life insurance product, you are given the following:
Policy Month M-1 M
Fixed amount death benefit 40,000 40,000
Cumulative partial withdrawal 3,000 6,000
Account value at end of month 30,000 27,075
Minimum death benefit as % of account value 120% 120%
Annual Cost of Insurance (COI) charge rate per 1,000 net
amount of risk 2.00 2.20
Calculate the COI charge for policy month M under death benefit option A.
(A) 1.10
(B) 1.28
(C) 1.64
(D) 2.37
(E) 6.78
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