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lz523 · 2024年07月21日

请问这样答OK吗?

NO.PZ2023010409000014

问题如下:

Dianna Mark is the chief financial officer of Antiliaro, a relatively mature textile production company headquartered in Italy. All of its revenues come from Europe, but the company is losing sales to its Asian competitors. Earnings have been steady but not growing, and the balance sheet has taken on more debt in the past few years in order to maintain liquidity. Mark reviews the following facts concerning the company’s defined benefit (DB) pension plan:

Ÿ The DB plan currently has 1 billion in assets and is underfunded by 100 million in relation to the projected benefit obligation (PBO) because of investment losses.

Ÿ The company to date has made regular contributions.

Ÿ The average employee age is 50 years, and the company has many retirees owing to its longevity.

Ÿ The duration of the plans liabilities (which are all Europe based) is 10 years.

Ÿ The discount rate applied to these liabilities is 6%.

Ÿ There is a high correlation between the operating results of Antiliaro and pension asset returns.

Determine whether the risk tolerance of the DB plan is below average or above average. Justify your response with two reasons.

选项:

解释:

The risk tolerance of the DB plan is below average.Reasons:

1.The DB plan currently is underfunded by €100 million because of investment losses.

2.The average employee age is 50 years, and the company has many retirees owing to its longevity.Besides,there is a high correlation between the operating results of Antiliaro and pension asset returns.

如题 好像自己衍生不出来什么了


1 个答案
已采纳答案

Lucky_品职助教 · 2024年07月21日

嗨,爱思考的PZer你好:


同学你好:


你的答案我看了下,答题点没有问题,但是答题的方式还是要注意一下,类似这样的答案,我们最简单的模式应该是:观点+事实陈述,而你的答案基本上都只是稍微改编了一下题干中的叙述,你的内容是符合事实陈述的部分的,但是更重要的是一定要在每一个原因前面,有一句你的观点总结。

比如说,你的第一个原因:An underfunded status can lead to a reduction in the risk tolerance of the DB plan. 然后再加上你的上面的陈述。

第二个原因:The high average age of employees means an increase in the liquidity demand of the DB plan, thereby reducing the risk tolerance.


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