136****3865
2019-02-13 12:36老師你好, 原版書Reading 14課后題第15題中什么叫net payment cost index? 然后17題中為什么沒有考慮family living expense （decline by $30,000 each year）?
所屬：CFA Level III 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
Irene助教
2019-02-14 18:26
該回答已被題主采納
同學(xué)你好，
The net payment cost index assumes that the insured person will die at the end of a specified period, such as 20 years. Calculation of the net payment cost index includes the following steps:
A.Calculate the future value of an annuity due of an amount equal to the premium, compounded at a 5% discount rate for 20 years. An annuity due—an annuity for which the premium payment is received at the beginning of the period (versus an ordinary annuity, for which the premium payment is received at the end of the period)—is used because premiums are paid at the beginning of the period.
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追答
B.Calculate the future value of an ordinary annuity of an amount equal to the projected annual dividend (if any), compounded at 5% for 20 years. An ordinary annuity is used because dividend payments are made at the end of the period.
C.Subtract B from A to get the 20-year insurance cost. -
追答
D.Calculate the payments for a 20-year annuity due with a future value equal to C and a discount rate of 5%. This amount is the interest-adjusted cost per year. Again, an annuity due is used because premium payments occur at the beginning of the year.
E.Divide by the number of thousand dollars of face value. -
追答
同學(xué)你好。因?yàn)閒amily的living expense已經(jīng)可以被salary cover，所以不用考慮capital need了。
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追問
不是很明白從題干哪里可以看出未來的“family的living expense已經(jīng)可以被salary cover”？（而且在算capital needs的時(shí)候是考慮了Olivia的工資的，也考慮了其他的living expense） 另外，discount rate可以直接6%-3.5%嗎？
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追答
同學(xué)你好。
假設(shè)A死亡
expense：95000-30000=65000
salary是85000>65000,可以cover。 -
追問
這道題中的discount rate可以直接6%-3.5%嗎？
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追答
同學(xué)你好。
可以的。但是這樣計(jì)算出來和最終答案當(dāng)中的結(jié)果會(huì)有誤差。所以建議在下午題，也就是選擇題里面，最好用比較精確地乘除的方法。 -
追答
上午題因?yàn)橛羞^程，所以可以直接用加減。
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