Discuss the impact of inflation and unemployment.

The Toner model relies on increasing returns to ideas and labor. True or false.

(8 points) Company ABC is a large employer that for the past 10 years has provided the following benefits to its employees: Comprehensive Fully-Insured PPO Medical and Prescription Drug Coverage Voluntary Dental . Voluntary Vision Company ABC would like you to re-evaluate the compensation and benefits they offer using the Functional Approach. (a) (/ point) Explain why organizations use an organized system for classifying and analyzing risks to evaluate employee benefits strategies. (b) (/ point) Identify considerations in establishing an Employer's Total Compensation Policy. (c) (3 points) List considerations used in analyzing the benefits presently available at Company ABC and explain the rationale for reviewing these considerations. (d) (I point) Describe the advantages of voluntary benefits. (e) (2 points) Explain how Company ABC can control adverse selection in choosing its voluntary benefits.(4 points) You are an actuary for a consulting firm named Delight. Your boss had to unexpectedly leave for Turkey, and asked you to calculate a retrospective refund for one of his large group clients. This was your first time calculating one, so you had to ask around Delight for guidance. You are given the following: Premiums: $500,000 Investment earnings on money held: $15,000 Claims charged: $475,000 Expenses charged: $50,000 Risk charge: $20,000 Rate stabilization reserve addition: $10,000 Profit: $30,000 Prior formula balance carried forward: $75,000 (a) (/ point) Define prospective experience rating and retrospective experience rating. (b) (2 points) Define each component listed above with respect to retrospective experience rating. (c) (/ point) Calculate the retrospective refund. Show your work