精算师考试练习题Word文档下载推荐.docx

精算师考试练习题Word文档下载推荐.docx

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Calculate.

（A）0.0388

（B）0.0392

（C）0.0396

（D）0.0404

（E）0.0414

11/08/044

2.

Kathryndeposits100intoanaccountatthebeginningofeach4-yearperiodfor40years.Theaccountcreditsinterestatanannualeffectiveinterestrateofi.Theaccumulatedamountintheaccountattheendof40yearsisX,whichis5timestheaccumulatedamountintheaccountattheendof20years.

CalculateX.

（A）4695

（B）5070

（C）5445

（D）5820

（E）6195

11/08/045

3.

Ericdeposits100intoasavingsaccountattime0,whichpaysinterestatanominalrateofi,compoundedsemiannually.

Mikedeposits200intoadifferentsavingsaccountattime0,whichpayssimpleinterestatanannualrateofi.

EricandMikeearnthesameamountofinterestduringthelast6monthsofthe8thyear.Calculatei.

（A）9.06%

（B）9.26%

（C）9.46%

（D）9.66%

（E）9.86%

11/08/046

4.

Johnborrows10,000for10yearsatanannualeffectiveinterestrateof10%.Hecanrepaythisloanusingtheamortizationmethodwithpaymentsof1,627.45attheendofeachyear.Instead,Johnrepaysthe10,000usingasinkingfundthatpaysanannualeffectiveinterestrateof14%.Thedepositstothesinkingfundareequalto1,627.45minustheinterestontheloanandaremadeattheendofeachyearfor10years.Determinethebalanceinthesinkingfundimmediatelyafterrepaymentoftheloan.

（A）2,130

（B）2,180

（C）2,230

（D）2,300

（E）2,370

11/08/047

5.

Anassociationhadafundbalanceof75onJanuary1and60onDecember31.Attheendofeverymonthduringtheyear,theassociationdeposited10frommembershipfees.Therewerewithdrawalsof5onFebruary28,25onJune30,80onOctober15,and35onOctober31.

Calculatethedollar-weighted（money-weighted）rateofreturnfortheyear.

（A）9.0%

（B）9.5%

（C）10.0%

（D）10.5%

（E）11.0%

11/08/048

6.

Aperpetuitycosts77.1andmakesannualpaymentsattheendoftheyear.Theperpetuvtwpaws1attheendofwear2,2attheendofwear3,….,nattheendofyear（n+1）.Afteryear（n+1）,thepaymentsremainconstantatn.Theannualeffectiveinterestrateis10.5%.

Calculaten.

（A）17

（B）18

（C）19

（D）20

（E）21

11/08/049

7.

1000isdepositedintoFundX,whichearnsanannualeffectiverateof6%.Attheendofeachyear,theinterestearnedplusanadditional100iswithdrawnfromthefund.Attheendofthetenthyear,thefundisdepleted.

TheannualwithdrawalsofinterestandprincipalaredepositedintoFundY,whichearnsanannualeffectiverateof9%.

DeterminetheaccumulatedvalueofFundYattheendofyear10.

（A）1519

（B）1819

（C）2085

（D）2273

（E）2431

11/08/0410

8.

Youaregiventhefollowingtableofinterestrates:

CalendarYearPortfolio

ofOriginalRates

InvestmentYearRates（in%）Investment（in%）

i1yi2yi3yi4yi5yyiy+5

19928.258.258.48.58.58.35

19938.58.78.758.99.08.6

19949.09.09.19.19.28.85

19959.09.19.29.39.49.1

19969.259.359.59.559.69.35

9.719979.59.59.69.7

199810.010.09.99.8

199910.09.89.7

20009.59.5

9.02001

Apersondeposits1000onJanuary1,1997.Letthefollowingbetheaccumulatedvalueofthe1000onJanuary1,2000:

P:

undertheinvestmentyearmethod

Q:

undertheportfolioyieldmethod

R:

wherethebalanceiswithdrawnattheendofevery

yearandisreinvestedatthenewmoneyrateDeterminetherankingofP,Q,andR.

PQR（A）

（B）PRQ

（C）QPR

（D）RPQ

（E）RQP

11/08/0411

9.

A20-yearloanof1000isrepaidwithpaymentsattheendofeachyear.Eachofthefirsttenpaymentsequals150%oftheamountofinterestdue.EachofthelasttenpaymentsisX.

Thelenderchargesinterestatanannualeffectiverateof10%.

（A）32

（B）57

（C）70

（D）97

（E）117

11/08/0412

10.