11.
ASSERTION
In the U.S., small group carriers
can no longer require workers
compensation for all eligible
employers as a condition for
offering non-workers
compensation health benefits.
BECAUSE
REASON
In the U.S., the Health Insurance
Portability and Accountability Act
(HIPAA) requires small group
health carriers to offer all major
medical products on a guaranteed
acceptance and renewal basis.
12.
ASSERTION
In the U.S., underwriting a small
group has become less important
with the passage of the Health
Insurance Portability and
Accountability Act (HIPAA).
BECAUSE
REASON
In the U.S., HIPAA limits a
carrier’s ability to reject or rate-up
specific individuals within a small
group.
13.
ASSERTION
Under the individual level
premium cost method, the
actuarial liability cannot be less
than the plan termination
liability.
BECAUSE
REASON
Under the individual level
premium cost method, the implicit
supplemental liability for past
service benefits is not fully
amortized until the participant
reaches normal retirement age.
14.
ASSERTION
Under the entry age normal cost
method using assumed entry
ages, the actuarial liability for
each individual will be positive.
BECAUSE
REASON
Under the entry age normal cost
method using assumed entry ages,
the assumed entry age cannot
exceed the earliest plan eligibility
age.
COURSE 5: Fall 2003 - 11 - GO ON TO NEXT PAGE
Morning Session
8-20. Each of questions 8 through 20 consists 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.
15.
ASSERTION
For dynamic life insurance
products, the calculation of
policy values is independent of
the partial withdrawal
assumptions.
BECAUSE
REASON
For dynamic life insurance
products, partial withdrawals of
the account values are often
allowed.
16.
ASSERTION
The U.S. DAC Tax results in a
company losing investment
income.
BECAUSE
REASON
The U.S. DAC Tax accelerates
taxes.
COURSE 5: Fall 2003 - 12 - GO ON TO NEXT PAGE
Morning Session

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