z 第 2 年(h=2)
因 ,則R
() ( )
00.198.098.0
01
=<== BPMaxBPMax
2
= Min { Max[ (A
2
+ PR
2
×
Portfolio
2
)
×
2
2
G
g
, Floor
2
] ,
Cap
2
}
假設第 2 觀察期(1998/7/28~1999/7/26)之
-
及兩者差異 每日變化如下表:
d
CMS
2
]10[
d
CMS
2
]2[
d
Spread
2
d 評價日
d
CMS
2
]10[
d
CMS
2
]2[
d
Spread
2
d 評價日
d
CMS
2
]10[
d
Spread
2
d
d 評價日
評價日
d
CMS
2
]2[
d
Spread
2
d
CMS
2
]10[
d
CMS
2
]2[
d
CMS
2
]10[
d
CMS
2
]2[
d
Spread
2
1 1998/7/28 6.05% 5.85% 0.20% 67 1998/10/28 5.38% 4.60% 0.78% 133 1999/1/28 5.44% 5.11% 0.33% 199 1999/4/30 6.06% 5.51% 0.55%
2 1998/7/29 6.08% 5.90% 0.18% 68 1998/10/29 5.32% 4.59% 0.73% 134 1999/1/29 5.40% 5.13% 0.27% 200 1999/5/3 6.06% 5.52% 0.54%
3 1998/7/30 6.06% 5.89% 0.17% 69 1998/10/30 5.37% 4.70% 0.67% 135 1999/2/1 5.46% 5.15% 0.31% 201 1999/5/4 6.10% 5.54% 0.56%
4 1998/7/31 6.05% 5.88% 0.17% 70 1998/11/2 5.57% 4.84% 0.73% 136 1999/2/2 5.53% 5.21% 0.32% 202 1999/5/5 6.08% 5.54% 0.54%
5 1998/8/3 6.01% 5.85% 0.16% 71 1998/11/3 5.52% 4.80% 0.72% 137 1999/2/3 5.59% 5.22% 0.37% 203 1999/5/6 6.17% 5.60% 0.57%
6 1998/8/4 5.98% 5.80% 0.18% 72 1998/11/4 5.63% 4.96% 0.67% 138 1999/2/4 5.62% 5.26% 0.36% 204 1999/5/7 6.20% 5.59% 0.61%
7 1998/8/5 6.01% 5.83% 0.18% 73 1998/11/5 5.64% 5.03% 0.61% 139 1999/2/5 5.68% 5.31% 0.37% 205 1999/5/10 6.18% 5.55% 0.63%
8 1998/8/6 6.03% 5.82% 0.21% 74 1998/11/6 5.68% 5.12% 0.56% 140 1999/2/8 5.68% 5.30% 0.38% 206 1999/5/11 6.21% 5.58% 0.63%
9 1998/8/7 6.00% 5.78% 0.22% 75 1998/11/9 5.58% 5.09% 0.49% 141 1999/2/9 5.65% 5.26% 0.39% 207 1999/5/12 6.21% 5.57% 0.64%
10 1998/8/10 6.00% 5.78% 0.22% 76 1998/11/10 5.54% 5.03% 0.51% 142 1999/2/10 5.69% 5.25% 0.44% 208 1999/5/13 6.12% 5.51% 0.61%
11 1998/8/11 6.01% 5.76% 0.25% 77 1998/11/11 5.54% 5.03% 0.51% 143 1999/2/11 5.70% 5.32% 0.38% 209 1999/5/14 6.34% 5.68% 0.66%
12 1998/8/12 6.00% 5.75% 0.25% 78 1998/11/12 5.51% 5.02% 0.49% 144 1999/2/12 5.81% 5.34% 0.47% 210 1999/5/17 6.35% 5.69% 0.66%
13 1998/8/13 6.05% 5.80% 0.25% 79 1998/11/13 5.55% 5.05% 0.50% 145 1999/2/15 5.83% 5.39% 0.44% 211 1999/5/18 6.37% 5.75% 0.62%
14 1998/8/14 6.01% 5.74% 0.27% 80 1998/11/16 5.63% 5.10% 0.53% 146 1999/2/16 5.78% 5.37% 0.41% 212 1999/5/19 6.33% 5.76% 0.57%
15 1998/8/17 6.03% 5.75% 0.28% 81 1998/11/17 5.61% 5.07% 0.54% 147 1999/2/17 5.74% 5.36% 0.38% 213 1999/5/20 6.36% 5.76% 0.60%
16 1998/8/18 6.05% 5.76% 0.29% 82 1998/11/18 5.59% 5.04% 0.55% 148 1999/2/18 5.80% 5.37% 0.43% 214 1999/5/21 6.31% 5.72% 0.59%
17 1998/8/19 6.05% 5.77% 0.28% 83 1998/11/19 5.58% 5.11% 0.47% 149 1999/2/19 5.82% 5.41% 0.41% 215 1999/5/24 6.29% 5.73% 0.56%
18 1998/8/20 6.05% 5.76% 0.29% 84 1998/11/20 5.55% 5.12% 0.43% 150 1999/2/22 5.77% 5.42% 0.35% 216 1999/5/25 6.28% 5.72% 0.56%
19 1998/8/21 6.04% 5.68% 0.36% 85 1998/11/23 5.61% 5.19% 0.42% 151 1999/2/23 5.84% 5.47% 0.37% 217 1999/5/26 6.35% 5.80% 0.55%
20 1998/8/24 6.09% 5.69% 0.40% 86 1998/11/24 5.58% 5.20% 0.38% 152 1999/2/24 5.91% 5.55% 0.36% 218 1999/5/27 6.40% 5.86% 0.54%
21 1998/8/25 6.06% 5.66% 0.40% 87 1998/11/25 5.60% 5.21% 0.39% 153 1999/2/25 6.07% 5.66% 0.41% 219 1999/5/28 6.41% 5.86% 0.55%
22 1998/8/26 6.00% 5.62% 0.38% 88 1998/11/26 5.59% 5.20% 0.39% 154 1999/2/26 6.03% 5.64% 0.39% 220 1999/5/31 6.42% 5.86% 0.56%
23 1998/8/27 5.91% 5.52% 0.39% 89 1998/11/27 5.58% 5.17% 0.41% 155 1999/3/1 6.13% 5.68% 0.45% 221 1999/6/1 6.55% 5.99% 0.56%
24 1998/8/28 5.89% 5.48% 0.41% 90 1998/11/30 5.53% 5.07% 0.46% 156 1999/3/2 6.09% 5.68% 0.41% 222 1999/6/2 6.56% 5.99% 0.57%
25 1998/8/31 5.81% 5.36% 0.45% 91 1998/12/1 5.49% 5.05% 0.44% 157 1999/3/3 6.14% 5.66% 0.48% 223 1999/6/3 6.60% 5.99% 0.61%
26 1998/9/1 5.89% 5.46% 0.43% 92 1998/12/2 5.46% 5.00% 0.46% 158 1999/3/4 6.18% 5.69% 0.49% 224 1999/6/4 6.59% 6.00% 0.59%
27 1998/9/2 5.85% 5.47% 0.38% 93 1998/12/3 5.40% 4.91% 0.49% 159 1999/3/5 6.07% 5.59% 0.48% 225 1999/6/7 6.59% 6.01% 0.58%
28 1998/9/3 5.80% 5.45% 0.35% 94 1998/12/4 5.48% 5.04% 0.44% 160 1999/3/8 6.05% 5.60% 0.45% 226 1999/6/8 6.61% 6.01% 0.60%
29 1998/9/4 5.78% 5.43% 0.35% 95 1998/12/7 5.50% 5.10% 0.40% 161 1999/3/9 5.97% 5.49% 0.48% 227 1999/6/9 6.67% 6.06% 0.61%
30 1998/9/7 5.78% 5.43% 0.35% 96 1998/12/8 5.43% 5.03% 0.40% 162 1999/3/10 6.00% 5.54% 0.46% 228 1999/6/10 6.71% 6.09% 0.62%
31 1998/9/8 5.78% 5.41% 0.37% 97 1998/12/9 5.42% 5.02% 0.40% 163 1999/3/11 6.00% 5.53% 0.47% 229 1999/6/11 6.84% 6.15% 0.69%
32 1998/9/9 5.66% 5.26% 0.40% 98 1998/12/10 5.33% 4.97% 0.36% 164 1999/3/12 5.96% 5.49% 0.47% 230 1999/6/14 6.81% 6.11% 0.70%
33 1998/9/10 5.57% 5.15% 0.42% 99 1998/12/11 5.46% 5.03% 0.43% 165 1999/3/15 5.95% 5.47% 0.48% 231 1999/6/15 6.81% 6.12% 0.69%
34 1998/9/11 5.65% 5.19% 0.46% 100 1998/12/14 5.42% 4.98% 0.44% 166 1999/3/16 5.89% 5.44% 0.45% 232 1999/6/16 6.76% 6.04% 0.72%
35 1998/9/14 5.66% 5.22% 0.44% 101 1998/12/15 5.46% 5.02% 0.44% 167 1999/3/17 5.91% 5.45% 0.46% 233 1999/6/17 6.61% 5.93% 0.68%
36 1998/9/15 5.68% 5.24% 0.44% 102 1998/12/16 5.40% 4.92% 0.48% 168 1999/3/18 5.90% 5.44% 0.46% 234 1999/6/18 6.63% 5.98% 0.65%
37 1998/9/16 5.66% 5.24% 0.42% 103 1998/12/17 5.43% 5.01% 0.42% 169 1999/3/19 5.96% 5.49% 0.47% 235 1999/6/21 6.68% 6.02% 0.66%
38 1998/9/17 5.61% 5.18% 0.43% 104 1998/12/18 5.42% 5.01% 0.41% 170 1999/3/22 5.98% 5.51% 0.47% 236 1999/6/22 6.73% 6.05% 0.68%
39 1998/9/18 5.54% 5.17% 0.37% 105 1998/12/21 5.49% 5.08% 0.41% 171 1999/3/23 5.94% 5.45% 0.49% 237 1999/6/23 6.85% 6.14% 0.71%
40 1998/9/21 5.54% 5.16% 0.38% 106 1998/12/22 5.54% 5.11% 0.43% 172 1999/3/24 5.96% 5.46% 0.50% 238 1999/6/24 6.87% 6.14% 0.73%
41 1998/9/22 5.56% 5.16% 0.40% 107 1998/12/23 5.62% 5.24% 0.38% 173 1999/3/25 6.00% 5.49% 0.51% 239 1999/6/25 6.86% 6.16% 0.70%
42 1998/9/23 5.51% 5.05% 0.46% 108 1998/12/24 5.63% 5.26% 0.37% 174 1999/3/26 6.00% 5.47% 0.53% 240 1999/6/28 6.79% 6.10% 0.69%
43 1998/9/24 5.43% 4.95% 0.48% 109 1998/12/25 5.64% 5.27% 0.37% 175 1999/3/29 6.05% 5.47% 0.58% 241 1999/6/29 6.78% 6.14% 0.64%
44 1998/9/25 5.39% 4.93% 0.46% 110 1998/12/28 5.56% 5.21% 0.35% 176 1999/3/30 5.98% 5.42% 0.56% 242 1999/6/30 6.62% 5.99% 0.63%
45 1998/9/28 5.40% 4.95% 0.45% 111 1998/12/29 5.50% 5.16% 0.34% 177 1999/3/31 6.01% 5.43% 0.58% 243 1999/7/1 6.69% 6.04% 0.65%
46 1998/9/29 5.37% 4.95% 0.42% 112 1998/12/30 5.46% 5.12% 0.34% 178 1999/4/1 6.04% 5.46% 0.58% 244 1999/7/2 6.67% 6.05% 0.62%
47 1998/9/30 5.22% 4.79% 0.43% 113 1998/12/31 5.45% 5.11% 0.34% 179 1999/4/2 5.99% 5.43% 0.56% 245 1999/7/5 6.66% 6.04% 0.62%
48 1998/10/1 5.17% 4.73% 0.44% 114 1999/1/1 5.45% 5.13% 0.32% 180 1999/4/5 5.98% 5.42% 0.56% 246 1999/7/6 6.70% 6.07% 0.63%
49 1998/10/2 5.17% 4.75% 0.42% 115 1999/1/4 5.43% 5.10% 0.33% 181 1999/4/6 5.90% 5.37% 0.53% 247 1999/7/7 6.74% 6.08% 0.66%
50 1998/10/5 5.10% 4.64% 0.46% 116 1999/1/5 5.45% 5.16% 0.29% 182 1999/4/7 5.89% 5.38% 0.51% 248 1999/7/8 6.67% 6.04% 0.63%
51 1998/10/6 5.13% 4.68% 0.45% 117 1999/1/6 5.47% 5.10% 0.37% 183 1999/4/8 5.82% 5.35% 0.47% 249 1999/7/9 6.67% 6.07% 0.60%
52 1998/10/7 5.29% 4.77% 0.52% 118 1999/1/7 5.53% 5.16% 0.37% 184 1999/4/9 5.83% 5.35% 0.48% 250 1999/7/12 6.60% 6.01% 0.59%
53 1998/10/8 5.48% 4.82% 0.66% 119 1999/1/8 5.64% 5.25% 0.39% 185 1999/4/12 5.82% 5.37% 0.45% 251 1999/7/13 6.59% 6.01% 0.58%
54 1998/10/9 5.70% 4.92% 0.78% 120 1999/1/11 5.70% 5.31% 0.39% 186 1999/4/13 5.87% 5.38% 0.49% 252 1999/7/14 6.62% 6.05% 0.57%
55 1998/10/12 5.70% 4.91% 0.79% 121 1999/1/12 5.62% 5.21% 0.41% 187 1999/4/14 5.89% 5.40% 0.49% 253 1999/7/15 6.63% 6.07% 0.56%
56 1998/10/13 5.66% 4.82% 0.84% 122 1999/1/13 5.54% 5.13% 0.41% 188 1999/4/15 5.93% 5.42% 0.51% 254 1999/7/16 6.56% 6.00% 0.56%
57 1998/10/14 5.55% 4.82% 0.73% 123 1999/1/14 5.45% 5.05% 0.40% 189 1999/4/16 5.97% 5.47% 0.50% 255 1999/7/19 6.56% 5.99% 0.57%
58 1998/10/15 5.43% 4.71% 0.72% 124 1999/1/15 5.52% 5.10% 0.42% 190 1999/4/19 5.90% 5.41% 0.49% 256 1999/7/20 6.53% 5.94% 0.59%
59 1998/10/16 5.34% 4.56% 0.78% 125 1999/1/18 5.50% 5.10% 0.40% 191 1999/4/20 5.90% 5.42% 0.48% 257 1999/7/21 6.55% 5.93% 0.62%
60 1998/10/19 5.33% 4.55% 0.78% 126 1999/1/19 5.50% 5.05% 0.45% 192 1999/4/21 5.93% 5.44% 0.49% 258 1999/7/22 6.67% 6.04% 0.63%
61 1998/10/20 5.41% 4.61% 0.80% 127 1999/1/20 5.52% 5.16% 0.36% 193 1999/4/22 5.99% 5.49% 0.50% 259 1999/7/23 6.73% 6.12% 0.61%
62 1998/10/21 5.41% 4.65% 0.76% 128 1999/1/21 5.46% 5.10% 0.36% 194 1999/4/23 5.99% 5.48% 0.51% 260 1999/7/26 6.84% 6.16% 0.68%
63 1998/10/22 5.45% 4.67% 0.78% 129 1999/1/22 5.42% 5.06% 0.36% 195 1999/4/26 5.94% 5.46% 0.48%
64 1998/10/23 5.55% 4.70% 0.85% 130 1999/1/25 5.42% 5.09% 0.33% 196 1999/4/27 5.95% 5.44% 0.51%
全球人壽富利變額萬能壽險契約條款 第 62 頁,共 65 頁