View the step-by-step solution to:

Question

This question was created from Risk_Scenarios.docx https://www.coursehero.com/file/25734736/Risk-Scenariosdocx/

25734736-387513.jpeg

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

25734736-387513.jpeg

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.

Top Answer

The services of an actuary are to provide estimation on the... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question