下文是01年11月北美精算师考试SOA真题Course8R（最后一节课），上好这最后一节课哦，该部分就完美了。
　　7. (7 points) After a recent economic decline, NOC’s CFO has stated that he would like a
　　95% assurance that the National Oil Full-Time Salaried Pension Plan will maintain a
　　surplus on an expense basis in the short term.
　　You are given:
　　? The expense discount rate will be increased to 7.5% on December 31, 2001
　　? Benefit payments will remain level from 2000
　　? Active employees‘ service cost has a duration of 14
　　? The duration for the total Pension Benefit Obligation (PBO) is 10
　　? No contributions are to be made during 2001
　　Using the PBO as your liability measure:
　　(a) (1 point) Calculate the Plan‘s Funding Ratio Return (FRR) for 2000.
　　(b) (2 points) Estimate the expected funded status of the Plan at the end of 2001
　　assuming the return on assets is zero.
　　(c) (4 points) Given the CFO‘s objective, *uate the following asset allocations
　　using the concept of FRR:
　　? 100% bond and 0% equity
　　? 50% bond and 50% equity
　　? 0% bond and 100% equity
　　COURSE 8: November 2001 - 8 - GO ON TO NEXT PAGE
　　Retirement Benefits
　　Comprehensive Segment
　　Afternoon Session
　　Questions 7 –10 pertain to the Case Study
　　8. (7 points) The government of Belair intends to change the tax status of ERPs and
　　PPAs in order to increase tax revenue, without discouraging retirement savings in
　　general.
　　Comment on the government‘s objectives and propose ways in which Belair‘s rules could
　　be changed or clarified to meet these objectives.
　　9. (10 points) NOC‘s union is proposing to freeze the NOC Full-Time Hourly Union
　　Pension Plan and start participation in the multiemployer plan maintained for the
　　members of the Oil Workers Union (OWU). The OWU Plan has a surplus on a going
　　concern basis but a deficit on a termination basis.
　　(a) (7 points) Analyze the risks and benefits for NOC if they accept the Union‘s
　　proposal. Include both financial and operational considerations.
　　(b) (3 points) Describe the additional considerations if the existing NOC Hourly
　　Union Pension Plan were merged into the OWU plan.
　　COURSE 8: November 2001 - 9 - GO ON TO NEXT PAGE
　　Retirement Benefits
　　Comprehensive Segment
　　Afternoon Session
　　Questions 7 –10 pertain to the Case Study
　　10. (6 points) On January 1, 2001, National Oil acquired World Oil, a large
　　refinery in Belair. National Oil will retain all of the salaried employees of World Oil.
　　World Oil has a number of salaried employees that are sent abroad for temporary
　　assignments. Some, but not all of these employees are from Belair.
　　World Oil‘s current salaried employees’retirement programs and workforce are described
　　below.
　　Retirement Income Benefit
　　? Defined Contribution
　　? Eligibility: Immediate
　　? Vesting: Immediate
　　? Employer contribution: 3% of pay
　　? Investment option: Balanced fund
　　? Loans: None permitted
　　? Account balance paid on retirement, termination, death or disability
　　Reconciliation of Plan Assets from 1/1/2000 to 1/1/2001
　　Assets as of January 1, 2000: $18,789,300
　　Employer contributions: 2,801,200
　　Benefit payments: (1,550,100)
　　Expenses paid by the plan: 0
　　Investment return: 601,200
　　Assets as of January 1, 2001: $20,641,600
　　Retiree Healthcare
　　? Self-insured defined benefit plan
　　? Retiree contributions: None
　　? Eligibility: Retirement at or after age 55 with at least 10 years of service
　　? Hospital and major medical benefits: all fees paid by plan
　　? Dental: Plan pays 100% of preventive care and 50% of restorative care
　　Retiree Life Insurance
　　? Fully-insured benefit
　　? Eligibility: Retirement at or after age 55 with at least 10 years of service
　　? Employer-paid benefit: $25,000
　　? Optional retiree-paid benefit: $25,000 or $50,000
　　COURSE 8: November 2001 - 10 - STOP
　　Retirement Benefits
　　Comprehensive Segment
　　Afternoon Session
　　10. (CONTINUED)
　　Census Data
　　In Belair Abroad
　　Number of salaried employees: 2,250 150
　　Average age: 36 43
　　Average service: 11 years 7 years
　　Average earnings $41,500 $85,000
　　Retired participants in the life and health plans: 750 with family coverage, 150 with
　　single coverage
　　Average age: 72
　　National Oil has asked you to integrate the NOC and World Oil retirement programs such
　　that all salaried employees are receiving consistent benefits.
　　(a) Describe the issues in integrating these programs.
　　(b) Describe the additional issues for the salaried employees working abroad.
　　故天将降大任于斯人也，必先苦其心志，劳其筋骨，饿其体肤，空乏其身，行拂乱其所为，所以动心忍性，增益其所不能。——高顿网校极品语录

 

 
扫一扫微信，关注精算师*7考试动态