1.CAIA L2 스웨저노트 Topic 3.4 252p 6~7번줄내용

Asset-liability risk management. Along with its assets, a plan has liabilities, which are its promised benefits payable. The plan's funded status is the difference between its assets and liabilities. A positive difference is called a pension surplus (overfunded), while a negative difference can be called a shortfall or a deficit (underfunded). Using the assetliability perspective, the risk of defined benefit plan assets is measured as the volatility of its surplus. An asset that has high volatility, but is positively correlated with plan liabilities, may be viewed as having lower risk.

 2.Practice exam section1 8번 문제 [정답 ③]

[문의]해설에 보기II. psitively correlated 부분이 틀렸으며, negatively 가 맞다고 되어 있습니다. (두 교재의 내용이 다릅니다)

스웨저노트와 prcatice exam 문제 해설 중 어떤 것이 맞는 것인지 확인 부탁드립니다.

 8. Using the asset-liability risk management approach, which of the statements is(are) CORRECT?

I. An important, high-level risk to pay attention to is the risk of the surplus asset.
II. An asset that has high volatility but is positively correlated with plan liabilities is actually considered to have low risk.
III. The level and direction of interest rates and mortality risk are two key specific risks that need to be considered.

A. I only.
B. II only.
C. I and III.
D. II and III.