关于工资的问题

NO.PZ202301041000002203 问题如下 The humanresources partment of The TreMecGroup hireJoe Boylan, a privatewealth consultant, to provi a series of presentations to its employeescovering the funmentals of financiplanning.Boylan’s currentpresentation als with two aspects of personrisk management relateto age:premature ath anoutliving one’s resources. He begins his presentation bystating thpeople often harbor misleang views about life insurance. anexample, he provis them with the following three comments whihe claims tohave hearmany times in the past:Comment 1 Sineveryone is going to e, everyonenee life insurance.Comment 2 Life insuranis efficient methoofrisk rection.Comment 3 Premiums on a newly issuelife insurancepoliare higher when interest rates are lower.Boylstates thatwhen consiring life insurannee aninvestment strategies, it isimportant to unrstanthe notion of humcapital. He provis the followingfour examples of invials connecteto the health care instry inExhibit 1 anasks the auenwhiof them hthe highest humancapitrisk.Boylprovisselecteinformation from stanrmortality tables along with some market taancharacteristiof Marie’s mecspecialty in Exhibit 2. In aition,he also inclus severassumptions whihe uses to termine Marie’s totalassets unr a holistic balansheet.One of theattenes the presentation tolBoylthshe haccesseseverlifeinsurancarrier websites but founthit wvery harto compare the costsof their whole life poliofferings, the companies often usefferentassumptions about the amount of the ath benefit, premiums, cash value growthrates anvinreinvestment rates. Using the information in Exhibit 3for a hypotheticwhole life policy, Boylillustrates a convenient methoor comparing the cost of fferent policies when these variables change.Boylturns hisattention to investments. He tells his auenthif the twins, Janianason, wish to invest optimally, they shoulconsir the nature of their humancapitwhen making asset allocation cisions. He asks how this woulaffecttheir relative allocation to high gra government bon.Boyltells theauenthlife annuities are a convenient investment to with longevityrisk. He again uses the twins, Jason anJanice, example, in scussingsome of the characteristiof these annuities. Assuming ththey were both toinvest the same amount into this proct, he makes the following statements:Statement 1 Ifboth of them were to purchase the annuity immeately, they woulboth receivethe same annuincome yielStatement 2 IfJason were to purchase the annuity in 10 years rather thimmeately, hisannuincome yielwoulhigher thtime thnow.Statement 3 IfJaniwere to a a 10-yearperiocertain option to her annuity, her incomeyielwoulrecewhen compareto not having the option, but it woulberecegreater amounts the longer she waits to purchase the annuity. Using Exhibits 1 an2, Marie’s totassets unr a holistic balansheet are closest to: A.$6,616,857. B.$6,563,000. C.$4,808,000. In aition to the assets termineunr a trationbalansheet proviin Exhibit 1, a holistic (economibalansheet inclus the present value of humcapitanthe value of any pensions.termination ofprobability weightepresent value of Marie’s future wagesTotAssets unrHolistic BalanSheet 这样理解对吗本题是Plans on retiring in two years, on the y before she turns 64 所以没有64岁的工资如果是when she turns 64就是拿64岁的工资？这道题只算了62和63岁的工资

NO.PZ202301041000002203 问题如下 The humanresources partment of The TreMecGroup hireJoe Boylan, a privatewealth consultant, to provi a series of presentations to its employeescovering the funmentals of financiplanning.Boylan’s currentpresentation als with two aspects of personrisk management relateto age:premature ath anoutliving one’s resources. He begins his presentation bystating thpeople often harbor misleang views about life insurance. anexample, he provis them with the following three comments whihe claims tohave hearmany times in the past:Comment 1 Sineveryone is going to e, everyonenee life insurance.Comment 2 Life insuranis efficient methoofrisk rection.Comment 3 Premiums on a newly issuelife insurancepoliare higher when interest rates are lower.Boylstates thatwhen consiring life insurannee aninvestment strategies, it isimportant to unrstanthe notion of humcapital. He provis the followingfour examples of invials connecteto the health care instry inExhibit 1 anasks the auenwhiof them hthe highest humancapitrisk.Boylprovisselecteinformation from stanrmortality tables along with some market taancharacteristiof Marie’s mecspecialty in Exhibit 2. In aition,he also inclus severassumptions whihe uses to termine Marie’s totalassets unr a holistic balansheet.One of theattenes the presentation tolBoylthshe haccesseseverlifeinsurancarrier websites but founthit wvery harto compare the costsof their whole life poliofferings, the companies often usefferentassumptions about the amount of the ath benefit, premiums, cash value growthrates anvinreinvestment rates. Using the information in Exhibit 3for a hypotheticwhole life policy, Boylillustrates a convenient methoor comparing the cost of fferent policies when these variables change.Boylturns hisattention to investments. He tells his auenthif the twins, Janianason, wish to invest optimally, they shoulconsir the nature of their humancapitwhen making asset allocation cisions. He asks how this woulaffecttheir relative allocation to high gra government bon.Boyltells theauenthlife annuities are a convenient investment to with longevityrisk. He again uses the twins, Jason anJanice, example, in scussingsome of the characteristiof these annuities. Assuming ththey were both toinvest the same amount into this proct, he makes the following statements:Statement 1 Ifboth of them were to purchase the annuity immeately, they woulboth receivethe same annuincome yielStatement 2 IfJason were to purchase the annuity in 10 years rather thimmeately, hisannuincome yielwoulhigher thtime thnow.Statement 3 IfJaniwere to a a 10-yearperiocertain option to her annuity, her incomeyielwoulrecewhen compareto not having the option, but it woulberecegreater amounts the longer she waits to purchase the annuity. Using Exhibits 1 an2, Marie’s totassets unr a holistic balansheet are closest to: A.$6,616,857. B.$6,563,000. C.$4,808,000. In aition to the assets termineunr a trationbalansheet proviin Exhibit 1, a holistic (economibalansheet inclus the present value of humcapitanthe value of any pensions.termination ofprobability weightepresent value of Marie’s future wagesTotAssets unrHolistic BalanSheet risk free rate加上工资波动率等于折现率是哪里的说法？从来没看到过

NO.PZ202301041000002203 问题如下 Using Exhibits 1 an2, Marie’s totassets unr a holistic balansheet are closest to: A.$6,616,857. B.$6,563,000. C.$4,808,000. In aition to the assets termineunr a trationbalansheet proviin Exhibit 1, a holistic (economibalansheet inclus the present value of humcapitanthe value of any pensions.termination ofprobability weightepresent value of Marie’s future wagesTotAssets unrHolistic BalanSheet 老师好，关于这道题的折现率，貌似也是用到了（1+real）（1+inflation）=1+nomial这道题的income volatility就可以看成是波动率，是一种inflation嘛？如何理解？