Business Administration, Management, and Operations Commons^™

Journal Of Actuarial Practice, Volume 4, No.1, 1996, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

An Approach to Estimating Market Value and Duration of Interest-Sensitive Whole Life Contracts • Thomas J. Merfeld

Participating GICs: Performance Attribution Analysis • Alec Stais and John P. Toohey III

Asset Allocation in Investing to Meet Liabilities • Anthony Dardis and Vinh Loi Huynh

A Possibilistic Linear Programming Method for Asset Allocation • Lijia Guo and Zhen Huang

Nonmedical Limits in Individual Life Insurance • James B. Ross and Shalini Perumpral

A Proposed New System of Financing Health Care in Singapore • Robert Keng Heong Lian and Loi Soh Loi

Concentration in American Property-Casualty Companies • Edward Nissan

Bias …

What We Say In The Naic Annual Statement Blank Actuarial Opinion, Kenneth W. Faig Jr.

Journal of Actuarial Practice (1993–2006)

The new language adopted for the actuarial opinion in the National Association of Insurance Commissioners' model actuarial opinion and memorandum regulation has been weakened at the same time the responsibilities of the opining actuary have been increased. The restoration of stronger language to the actuarial opinion would enhance the professional image of the actuary. If the legal environment for professional liability inhibits such a change, the opinion should be changed to describe more precisely the work performed and the conclusion reached by the actuary.

Disclosure And Confidentiality Requirements Of Corporate Pension Plan Actuaries, Theodore Konshak

Journal of Actuarial Practice (1993–2006)

Corporate pension plan actuaries are subject to the standards of the Joint Board for the Enrollment of Actuaries. The Joint Board is empowered to establish such standards under the provisions of the Employee Retirement Income Security Act of 1974, a federal law. In consideration of these statutory standards, this article will discuss whether standards published by professional actuarial organizations have any applicability. The contrast between the disclosure requirements of federal law and the confidentiality standards of the Society of Actuaries will be highlighted.

An Approach To Estimating Market Value And Duration Of Interest-Sensitive Whole Life Contracts, Thomas J. Merfeld

Journal of Actuarial Practice (1993–2006)

A fixed premium interest·sensitive whole life contract is analyzed in order to estimate its market value. In addition, using various definitions of duration, we determine the duration of the contract for each definition. The results of this analysis have implications for market value accounting of life insurance liabilities and for life company portfolio management.

Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral

Journal of Actuarial Practice (1993–2006)

This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.

Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral

Journal of Actuarial Practice (1993–2006)

This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.

Participating Gics: Performance Attribution Analysis, Alec Stais, John P. Toohey Iii

Journal of Actuarial Practice (1993–2006)

The increasing popularity of participating GICs has created a need for an objective understanding of their performance. The fixed income attribution techniques are not adequate for measuring participating GIC performance because they typically restrict performance measurement to concepts such as duration management, sector rotation, and issue selection. We develop an attribution technique based on four components or effects that are helpful in explaining the changes in credited rates. They are the constant duration effect, the reinvestment effect, the cash flow effect, and the investment effect. The underlying mathematical approach to calculating these effects is presented along with examples.

The Effects Of Environment Dynamism And Heterogeneity On Salespeople's Role Perceptions, Performance And Job Satisfaction, Ravipreet S. Sohi

Department of Marketing: Faculty Publications

This article develops a structural equations model which examines the effects of environmental dynamism and heterogeneity on salespeople’s role conflict, role ambiguity, performance and job satisfaction. The model is tested with EQS, using data collected from 230 salespeople in multiple companies and industries. Indicates that environmental dynamism reduces satisfaction and performance, and increases role conflict and ambiguity. Notes that environmental heterogeneity also reduces performance and increases role conflict, but does not have a significant effect on role ambiguity.

1996 Faculty Senate Meeting Minutes & Supplementary Materials, Morehead State University. Faculty Senate.

Faculty Senate Records

Faculty Senate Meeting Minutes & Supplementary Materials for 1996.