NO.PZ202109080500000306
问题如下：
Based on the Benetton’s response concerning their retirement income goal, which of the following is the best method to analyze this goal?选项：
A.Annuity pricing B.Mortality tables C.Monte Carlo simulation解释：
SolutionA is correct. The Benettons stress the importance of achieving their lifetime income goal of maintaining their inflation-adjusted current standard of living throughout retirement. Analyzing this goal by pricing a joint life annuity is the best method to insure that this goal will be achieved. A joint life annuity provides a guaranteed series of fixed payments for as long as either of them is alive in exchange for a lump sum payment.
B is incorrect. A mortality table illustrates an individual’s life expectancy at any given age. A potential problem with using mortality tables as the sole method to analyze the Benetton’s retirement goal is the probability that either one or both of them live to an age that exceeds the life expectancy of the general population. Thus, they run the risk of outliving their assets and may need to reduce their annual income (spending) goal at some point.
C is incorrect. The Monte Carlo simulation analyzes the likelihood of the client’s actual portfolio meeting anticipated retirement needs. Although the Monte Carlo output would include the probability of achieving the Benetton’s goal, it would not guarantee that their goal is achieved, nor would it necessarily measure the “shortfall magnitude” to achieving their goal. Thus, they run the risk of outliving their assets and may need to reduce their annual income (spending) goal at some point.
退休的目标是满足生活水平，但对能不能达到存在担忧。题目问的是何种方法可以最好的分析这个？这样一来，为什么会选A？
