|
|
 |
您现在的位置： 快乐阅读网 >> 会计考试 >> 精算师考试 >> 北美精算师 >> 正文 |  用户登录  新用户注册 |
|
|||||
| SOA真题November2004Course8I | |||||
| 作者：佚名 文章来源：快乐阅读网 zuowenw.com 点击数： 更新时间：2008-5-29 | |||||
|
会计考试资料下载----点击下载 本文《SOA真题November2004Course8I》关键词：经济师考试 COURSE 8I: Fall 2004 -1- GO ON TO NEXT PAGE Individual Insurance – U.S. Morning Session **BEGINNING OF EXAMINATION 8** INDIVIDUAL INSURANCE – U.S. MORNING SESSION 1. (5 points) ABC Life has a career agency distribution system. ABC’s management is reviewing their financing plan for new agents. (a) Describe the different types of financing plans for new agents and explain the advantages and disadvantages of each according to LIMRA. (b) You are given the following information: Year Average Annualized First Year Premium Agent Termination Rate Subsidy Validation Schedule Commission 1 $60,000 50% 120% $20,000 2 $80,000 25% 80% $25,000 3 $100,000 10% 40% $30,000 4+ $120,000 0% 0% $0 • Commissions are paid on annualized first year premium. • Agent termination occurs at the end of the year. • 6% of first year premium is priced into products to cover agent financing. • The interest rate is 0%. (i) Calculate the average financing cost for a new agent as a percentage of first year premium for each of the first three years. Show all work. (ii) Determine the number of years it will take for ABC to recover the financing costs on 100 new agents. Show all work. COURSE 8I: Fall 2004 -2- GO ON TO NEXT PAGE Individual Insurance – U.S. Morning Session 2. (11 points) XYZ Life is evaluating a block of identical special life contingent annuities issued January 1, 2004 by ABC Life. You are given: • Total required capital as a percentage of solvency reserves is 5%. • Assumed investment interest rate on required capital is 4%. • Hurdle rate is 15%. • Each annuity payment is $71,280. • Payments are made at the end of each year during the annuitant’s lifetime. • Deaths occur at the end of the year before the annuity payment. • No taxes or maintenance expenses. Actual Projected 1/1/2004 12/31/2004 12/31/2005 12/31/2006 Policy count 100 75 50 25 Solvency reserves (‘000s) $9,864 $5,011 $1,697 $0 Premium (‘000s) $10,000 $0 $0 $0 Commission (‘000s) $400 $0 $0 $0 Benefits (‘000s) $0 $5,346 $3,564 $1,782 Investment income on solvency reserves and cashflows (‘000s) $0 $838 $426 $144 (a) (3 points) Explain the process for determining the statutory valuation rate under the Standard Valuation Law for these life contingent annuities. (b) (4 points) Calculate the embedded value of this block at January 1, 2004. Show all work. (c) (3 points) You are given the following binomial distribution for mortality: n q f(25) F(25) 100 0.25 0.0918 0.5525 Calculate the probability of solvency earnings exceeding $250,000 in 2004. Show all work. (d) (1 point) On January 1, 2005, XYZ Life buys the remaining block of 75 contracts. Calculate the maximum amount of assets ABC transfers to XYZ assuming no transaction expenses. Show all work. COURSE 8I: Fall 2004 -3- GO ON TO NEXT PAGE Individual Insurance – U.S. Morning Session
 网友评论：（只显示最新10条。评论内容只代表网友观点，与本站立场无关！） |
|||||
| 文章录入：无限朝阳 责任编辑：无限朝阳 | |||||
| 【发表评论】【加入收藏】【告诉好友】【打印此文】【关闭窗口】 | |||||
| 最新热点 | 最新推荐 | 相关文章 | ||
| 提升企业内部审计职能的几点… 内部审计在会计信息失真治理… 民营企业内部审计生存和发展… 创新审计关系遏制造假冲动 内审的再认识再定位 走出内部审计认识的误区 北京二中院受理“森豪公寓”… 农村水厂私人“操盘”令人堪… 中行8名省分行行长受罚11个省… 看门狗防不住内贼审计师不能… |
|
|
