Mrs. Chan purchased the HKMC Annuity plan at the age 69 for a single premium of HK$1,000,000.

Below is the extract of guarantee monthly annuity payment table (HK$) for male and female.

Female (Single premium HK$1,000,000)
Age Last Birthday at Application	Guaranteed Monthly Annuity Payment (The amount will be determined at the outset and will remain unchanged throughout the whole of your life.)	Guaranteed Period	Guaranteed cash value of partial withdrawal after receiving the 50th guaranteed monthly annuity payment
65	HK$5,300	199 months	HK$548,000
66	HK$5,400	195 months	HK$552,000
67	HK$5,510	191 months	HK$557,000
68	HK$5,620	187 months	HK$561,000
69	HK$5,730	184 months	HK$565,000
70	HK$5,840	180 months	HK$568,000

Mrs. Chan wishes to partially surrender an amount of HK$150,000 after receiving the 50^th guaranteed monthly annuity payment.

1. What are the guaranteed monthly annuity payment and number of guaranteed monthly annuity payments provided by Mrs Chans plan? (2 marks)

2. What will be the reduction ratio and reduced guaranteed monthly annuity payment after the partial surrender? Show all your workings. Round your final answer to integer.

(4 marks)

What will be the reduced guaranteed cash value at the point of time after the partial surrender and reduced lump sum death benefit value at the point of time after the partial surrender? Show all your workings. Round your final answer to integer.