1．The projected benefit obligation (PBO) is defined as the: A) actuarial present value of all future pension benefits earned to date based on expected future salary increases. B) actuarial present value of all future post-retirement benefit (mainly healthcare) payments earned to date. C) actuarial present value of all future pension benefits earned to date and based on current salary levels, ignoring future increases. D) amount of the accumulated benefit obligation (ABO) to which the employee is entitled based on the company’s vesting schedule. The correct answer was A) The projected benefit obligation (PBO) is defined as the actuarial present value of all future pension benefits earned to date based on expected future salary increases. 2．What is NOT a measure of pension plan liabilities for a defined benefit pension plan? A) Projected benefit obligation. B) Accumulated benefit obligation. C) Vested benefit obligation. D) Deferred benefit obligation. The correct answer was D) Deferred benefit obligation is not one of the measures of pension plan liabilities for a defined benefit pension plan. 3．The accumulated benefit obligation is defined as the: A) increase in the projected benefit obligation (PBO) due to the passage of time. B) actuarial present value of all future pension benefits earned to date based on expected future salary increases. C) actuarial present value of all future postretirement benefit (mainly healthcare) payments earned to date. D) actuarial present value of all future pension benefits earned to date and based on current salary levels, ignoring future increases. The correct answer was D) The accumulated benefit obligation is defined as the actuarial present value of all future pension benefits earned to date and based on current salary levels, ignoring future increases. 4．The vested benefit obligation is defined as the: A) actuarial present value of all future pension benefits earned to date based on expected future salary increases. B) actuarial present value of all future pension benefits earned to date and based on current salary levels, ignoring future increases. C) amount of the accumulated benefit obligation (ABO) to which the employee is entitled based on the company’s vesting schedule. D) actuarial present value of all future post-retirement benefit (mainly healthcare) payments earned to date. The correct answer was C) The vested benefit obligation is defined as the amount of the accumulated benefit obligation (ABO) to which the employee is entitled based on the company’s vesting schedule. 5．An analyst views the assumptions made by a company regarding its pension liabilities as unrealistic, and thinks the discount rate and expected rate of return should both be increased. The most likely effect of increasing the discount rate and expected rate of return on the vested benefit obligation (VBO) is:
| Discount rate | Expected rate of return |
A) No effect Decrease B) Increase
No effect C) Decrease No effect D) No effect Increase The correct answer was C) The VBO will decrease because a higher discount rate will cause the present value of the future obligations to decline. There will be no effect from changing the expected rate of return because expected return relates to the pension funding and expense, not to the size of the obligation. | 
发表于 2008-4-16 18:27
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