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what are the associated risks for the scenario along with response strategy?


Your agency needs to contract for professional actuarial services for your employee benefit plan.
You require that the contractor is certified and credentialed as an actuary providing professional
actuary services. This actuary report is very important as an error can create a short fall in
proper funding of the employee benefit plan.
The benefit plan requires $100 Million in funding to be financially sound and be able to pay
claims. A standard/acceptable margin of error by and actuary is plus or minus 10%. The
employee benefit board will be relying on the professional services of the contractor to make
funding decisions. The contractor will need to travel to Salem to provide these services. The
contactor will not have access to private data or the state network.

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