Management Sciences and Quantitative Methods Commons^™

Life Insurance Applications Of Recursive Formulas, Timothy L. Giles

Journal of Actuarial Practice (1993–2006)

This paper discusses several practical applications of recursive formulas:

a) Traditional whole life-As an introduction, the well-known relationship between successive terminal reserves is reviewed. Recursive formulas are developed to calculate the reserves and the premiums;

b) Universal life-Recursive formulas are used both for the calculation of target premiums and reserves. Consideration is given to the TEFRA corridor;

c) Paid-up rider-A participating single premium rider that provides a level death benefit can be devised using an inherent one year term benefit. Recursive functions are used to determine the premium that precisely matures the rider.

Because the APL programming language is particularly …

Recruiting Sources And Posthire Outcomes For Job Applicants And New Hires: A Test Of Two Hypotheses, Chuck R. Williams, Chalmer E. Labig, Thomas H. Stone

Scholarship and Professional Work - Business

This study, unlike most recruitment source research, tested for and ruled out the contaminating effects of prescreening and self-selection bias by examining applicants and new hires for nursing positions (S. L. Rynes and A. E. Barber, 1990). Consistent with the predictions of A. Rees (1966) and J. C. Ullman (1966), recruitment sources reached differently qualified applicants in terms of nursing experience and education which, in turn, were valid predictors of subsequent nurse performance. In a similar manner, recruitment sources produced sharply different levels of prehire knowledge, which was inversely related to voluntary turnover after 1 yr. However, contrary to both …

Journal Of Actuarial Practice, Volume 1, No.1, 1993, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Global Social Security: How the Rules are Changing in Certain Countries • Robert J. Myers

On Becoming a Cost Effective Company • Robert D. Shapiro and Barton H. Clennon

The Process of Pension Forecasting • Michael Sze

Cost-Based Pricing of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis • Patrick Butler

Discussion • Ruy A. Cardoso & Richard G. WolI & Patrick Butler's Reply

A New Approach to Modeling Excess Mortality • Peter D. England and Steven Haberman

The Small Plan Audit Program: The Opinions of the Court • Arnold F. Shapiro

BOOK REVIEWS

A. Hoque Sharif reviews "Options …

Management By Objectives: A Cost/Benefits Analysis Toward Achieving Organizational Goals, John J. Mueller

Theses

This thesis will focus on the management process commonly known as Management by Objectives in an attempt to determine if this type of management is a viable option for companies to employ.

In its simplest form management by objectives has been around for hundreds of years. The modern day version of this management technique developed in the early 1950's due in large part to the writings of Peter Drucker . MBO's popularity grew slowly at first, but by the late 1960's and early seventies this management technique took hold in the United States and spread to corporations both large and …

Journal Of Actuarial Practice, Volume 1, No. 2, 1993, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Ethical Issues, Helps, and Challenges: Perceptions of U.S. Actuaries • Therese M. Vaughan, Robert W. Cooper, and Garry L. Frank

Managing the Relative Volumes of Participating and Nonparticipating Business in a Mutual Life Company • Robert G. Chadburn

A Critique of Defined Contribution Plans Using a Simulation Approach • David M. Knox

Discussion • Michael Sze & David M. Knox's Reply

The Definition of Insurance: Implications for a Health Insurance Demand Model • Mark J. Browne

Discussion • Charles S. Fuhrer & Mark J. Browne's Reply

On the Equivalence of the Loss Ratio and Pure Premium Methods of Determining …

Funding Methods And Pension Plan Amendments, Keith P. Sharp

Journal of Actuarial Practice (1993–2006)

This paper considers the treatment of plan amendments under the individual entry age normal and projected unit credit methods. Alternative treatments are considered, and comments are made about their acceptability.

The Small Plan Audit Program: The Opinions Of The Court, Arnold F. Shapiro

Journal of Actuarial Practice (1993–2006)

One of the most important issues of recent years from the perspective of many pension actuaries is the IRS's small plan audit program. The program initially was expected to raise two-thirds of a billion dollars by targeting well-funded defined benefit plans with five or fewer participants. The focus of the audit was the assumed interest rate and the normal retirement age, both of which the IRS generally regarded as too low. While the focus of the audit was relatively narrow, the issue it raised was a funda mental one. The basic question was the extent to which the IRS could …

Managing The Relative Volumes Of Participating And Nonparticipating Business In A Mutual Life Company, Robert G. Chadburn

Journal of Actuarial Practice (1993–2006)

Management decisions of a mutual life company involving the amounts and relative proportions of participating (with profits) and nonparticipating (without profits) business and the level of expenses are examined in relation to their effect on participating policyholders' returns. A particular expense ratio is defined that plays a key role in a framework for making such decisions. The sensitivity of participating policy returns to changes in each factor are analyzed. Companies with expense ratios (as defined) of less than 2 are shown to prefer a different strategy from companies with higher ratios. There is an incomplete tendency for the ratio to …

Cost-Based Pricing Of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis, Patrick Butler

Journal of Actuarial Practice (1993–2006)

Every mile traveled by a car transfers risk to its insurer. This paper posits that the product of a cents-per-mile rate based on class experience and the miles recorded on the car's odometer appropriately earns prepaid premium while the car is driven. Operation of a practical car-mile system is described briefly. To test the competing idea that driver-record pricing responds to known large differences in risk transfer, a model used to validate claim free discounts is reexamined with the car-mile as the measure of individual cost. Driver-record pricing is found to inflate car-year price-to-cost differences. Consequences of accident rate variability …

Discussion Of Patrick Butler's "Cost-Based Pricing Of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis", Ruy A. Cardoso

Journal of Actuarial Practice (1993–2006)

No abstract provided.

Managing Russian Factory Workers: The Impact Of U.S.-Based Behavioral And Participative Techniques, Dianne H.B. Welsh, Fred Luthans, Steven M. Sommer

Department of Management: Faculty Publications

The new internationalization of the field of management has produced growing concern as to whether theories and techniques largely developed in the United States apply to other cultures. A within-subjects experimental design was used to analyze the impacts that three popular and successful techniques used in U.S. studies had on the performance of workers in the largest textile factory in the Russian republic of the former Soviet Union. Two techniques, providing extrinsic rewards and behavioral management, had significant,

The Diffusion Of Management Practices In The United States, Fumie Murase

Masters Theses

The study of diffusion of Japanese management practices in the United States is required by growing Japanese investment in the United States and the need of United States manufacturing to become more efficient. This thesis is based on a qualitative analysis of five case studies of automobile assembly plants in the United States utilizing cultural diffusion theory.

Most of Japanese production practices and some of their labor management policies were originally transferred to Japan from the United States. After being modified in Japan some of these policies are coming back to the United States with the transplants. Other Japanese management …

Interview With Jim Stoner, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Jack Germain, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Bob Galvin, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Brian Scott, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With David Luther, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Matthis Vermass, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With David Hutchins, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Arturo Onnias, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Genichi Taguchi, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Yoshinao Nakada, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Yoshio Kondo, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Hajime Karatsu, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Hitoshi Kume, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Yosinori Iizuka, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Ichiro Miyauchi, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Aizo Watanabe, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Takeshi Ken Kayano, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.

Interview With Junji Noguchi, Dr. Joseph M. Juran Collection

'An Immigrant's Gift': Interviews about the Life and Impact of Dr. Joseph M. Juran

No abstract provided.