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Provides candidate instructions covering authentication via Examity, downloading questions from the ASSA Exam Platform only, and submitting answers exclusively in the supplied Word document template with candidate number in the header. Includes rules on allowed materials, reading time, required calculations, attempting all questions, and uploading and final submission timing within the platform window. Questions cover defined benefit scheme funding changes, longevity risk strategies, mortality and retirement benefit needs, and state-run versus flexible regulation approaches.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/f104-november-2022-exam-1-pension-and-employee-benefits-fellowship-principles-exam-instructions/399172/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/f104-november-2022-exam-1-pension-and-employee-benefits-fellowship-principles-exam-instructions/399172.png","ImageObject",300,407,{"name":92,"@type":93},"Asher","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-06","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":29},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What submission format and file destination are required for this exam?","Question",{"text":112,"@type":113},"Answers must be submitted in Word format only, using the provided Word answer document template, uploaded only to the ASSA Exam Platform.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What is required in the header of the Word answer document?",{"text":117,"@type":113},"The candidate number must appear in the “header” of the Word answer document; do not use your name or member number anywhere in the document.",{"name":119,"@type":110,"acceptedAnswer":120},"How many questions must be attempted, and how should they be laid out?",{"text":121,"@type":113},"Attempt all six questions, starting each one on a new page as provided in the Word answer document, and show calculations where appropriate.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},399172,1790963438,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":29,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":24,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":144,"preview_page_count":4},687197207639,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","EXAMINATION  \n8 November 2022 (am)  \nSubject F104—Pension and Employee Benefits Fellowship Principles  \nTime allowed: Three hours and twenty minutes (which includes five minutes for downloading and uploading your answer document)  \nTotal marks: 100  \nINSTRUCTIONS TO THE CANDIDATE  \n1. Ensure that you are logged in and authenticated through Examity before you attempt the examination.  \n2. The question paper is only available in the ASSA Exam Platform as a PDF download and may not be printed. Copy/paste of questions or parts thereof is allowed from the question paper to your Word answer document only.  \n3. Download the Word answer document template from theASSA Exam Platform. Save this Word answer document on your desktop using your Candidate Number as filename. You are required to submit your answers in Word format ONLY using this document. No answers in any other format (e.g. handwritten) will be accepted. Save work regularly.  \n4. Ensure that your Candidate Number appears in the “header” ofyour Word answer document. [Double-click on the header at the top of the Word document, input your Candidate Number only in the header, then press “Esc” to close the header.] Do not use your name or member number anywhere in your Word answer document.  \n5. You may not access any file from your computer, use any other computer program (e.g. Email or Excel), or open any other browser during the examination.  \n6. You may not use any other material (e.g. aFormulae and Tables book) during the examination. Any such information that may be required will be provided to you within the examination.  \n7. You are strongly encouraged to use the first 15 minutes as reading time only, however, you may start answering the paper whenever you are ready.  \n8. Mark allocations are shown in brackets.  \n9. Attempt all six (6) questions, starting each on a new page (as provided for in the Word answer document) .  \n10. Show calculations where appropriate. You may use blank paper to carry out rough work calculations. You may use a calculator from the approved list only.  \n11. Upload your Word answer document only into the ASSA Exam Platform. Once you have uploaded your document, you must click on Finish Attempt to save your document. You will still be allowed to go back and make changes (Review Attempt) if you have time.  \n12. Once you are satisfied with your uploaded document, click Finish attempt and Finish all and Submit. Once you have submitted you will not be able to make any changes.  \n13. You must submit your Word answer document BEFORE the end of the allotted examination time. You should stop writing and start uploading during the last five minutes (when theASSA Exam Platform countdown clock turns red). Take this into account when planning your review and submission. There will be no time announcements.  \nNote: The Actuarial Society of South Africa will not be held responsible for loss of data where candidates have not followed instructions as set out above.  \nEND OF INSTRUCTIONS  \nQUESTION 1  \nAn employer is the sponsor to an historic defined benefit scheme in which there are no remaining active members. The scheme currently pays pensions to a large group of pensioners and is managed with very limited input from the sponsor.  \nThe most recent funding valuation indicates that the funding level has decreased over the valuation period.  \ni. Describe possible reasons why the funding level might have changed in this way.  \n[4]  \nSeveral of the valuations over the past decade indicate that more pensioners have remained in payment than expected.  \nii. Explain strategies that can be employed to better manage the longevity risk within the fund.  \n[4]  \n[Total 8]  \nQUESTION 2  \nThe country of Actuaria has a very unequal society. On the one hand, wealthy Actuarians tend to have long life expectancies and hence spend many years in retirement. Poorer Actuarians are particularly hard hit by a particular disease that causes about a third of them to die in their 40s. Thos","cbCainuwm1Jgq02b","https://ap.wps.com/l/cbCainuwm1Jgq02b","pdf",212812,"English","# Instructions to the Candidate\n# Question 1\n## Funding level change and longevity risk strategies\n# Question 2\n## Benefit needs across groups\n## Mutuality and solidarity\n## Risks to the State\n## Regulatory flexibility for schemes\n# Question 3","[{\"question\":\"What submission format and file destination are required for this exam?\",\"answer\":\"Answers must be submitted in Word format only, using the provided Word answer document template, uploaded only to the ASSA Exam Platform.\"},{\"question\":\"What is required in the header of the Word answer document?\",\"answer\":\"The candidate number must appear in the “header” of the Word answer document; do not use your name or member number anywhere in the document.\"},{\"question\":\"How many questions must be attempted, and how should they be laid out?\",\"answer\":\"Attempt all six questions, starting each one on a new page as provided in the Word answer document, and show calculations where appropriate.\"}]","F104-NOVEMBER-2022-EXAM-1 - Pension and Employee Benefits Fellowship Principles - Exam Instructions | PDF",1790494192,13]