Which of the following is a true statement regarding actuarial funding?
a. Actuarial funding applies to both defined benefit and defined contribution plans.
b. Given the same set of plan conditions and actuarial assumptions, each different actuarial funding model derives the same funding pattern over time.
c. Given the same set of plan conditions and actuarial assumptions, each different actuarial funding model builds up a pension fund to the same future balance.
d. Actuarial funding is synonymous with terminal funding.
ANSWER: C
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The symbol ? shows the
A. union of events. B. intersection of two events. C. sum of the probabilities of events. D. sample space.
Which of the following is not consistent with a model employee empowerment unionism?
A. Skill-based pay system where workers negotiate pay premiums with management. B. Stronger authority for union representatives. C. Union involvement in establishing standards for team composition. D. A negotiated framework for employees to resolve their own workplace issues.
Answer the following statement(s) true (T) or false (F)
1. The amount of funds necessary to finance the operation is called the capital requirement. 2. Many entrepreneurs prefer to work for someone else for a while to learn how an industry operates or to learn how to manage other people. 3. Most of the businesses in the United States are sole proprietorships. 4. It is difficult to dissolve a sole proprietorship. 5. Perhaps the chief advantage of a sole proprietorship is unlimited liability.
Suppose that x is a binomial random variable with n = 100 and ? = 0.18 . Employ the normal approximation to find P(15 ? x ? 21)