IFoA SA4 Practice Questions - IFoA SA4 Pensions and Other Benefits Specialist Advanced Exam - IFoA SA4 Practice Questions - IFoA SA4 Pensions and Other Benefits Specialist Advanced Exam

Question 1

Under the UK scheme funding regime that applies to actuarial valuations with effective dates on or after 22 September 2024, what new document are trustees of defined benefit schemes required to put in place?

A funding and investment strategy (FIS) A statement of investment principles only A chair's annual governance statement A master trust authorisation application

Correct Answer:

A funding and investment strategy (FIS)

Question 2

Under the DB funding regime, a scheme that has reached significant maturity is expected to be funded on what basis with low dependency on the sponsoring employer?

A best-estimate basis assuming continued strong employer support A low dependency funding basis with a low dependency investment allocation A solvency (full buyout) basis at all times The PPF compensation basis

Correct Answer:

A low dependency funding basis with a low dependency investment allocation

Question 3

The Pensions Regulator's new DB funding code of practice, which came into force in November 2024, distinguishes between two routes trustees can use to demonstrate compliance with the funding and investment strategy requirements. What are these two routes called?

The Fast Track and the Bespoke routes The Statutory and Voluntary routes The Prudent and Best-Estimate routes The Section 179 and Section 75 routes

Correct Answer:

The Fast Track and the Bespoke routes

Question 4

In a defined benefit actuarial valuation, the technical provisions represent the:

Estimated cost of all future benefits including future accrual on a best-estimate basis Cost of securing benefits with an insurer in the bulk annuity market Amount of assets needed to make provision for benefits already accrued, using prudent assumptions Compensation that the PPF would pay following employer insolvency

Correct Answer:

Amount of assets needed to make provision for benefits already accrued, using prudent assumptions

Question 5

A DB scheme's technical provisions are £480m and the market value of assets is £432m. The scheme actuary is asked for the funding level on the technical provisions basis. What is it, and how would a shortfall typically be addressed?

90%, with the deficit recovered through a recovery plan of additional employer contributions 108%, so a refund of surplus to the employer is required 90%, with the deficit written off immediately under FRS 102 112%, so the scheme must trigger wind-up

Correct Answer:

90%, with the deficit recovered through a recovery plan of additional employer contributions

Exam overview

About this Exam

Prepare with the IFoA SA4 Practice Questions - IFoA SA4 Pensions and Other Benefits Specialist Advanced Exam practice quiz. This question bank includes 100 questions covering scheme, pension, funding, benefit, and defined. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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IFoA SA4 Practice Questions - IFoA SA4 Pensions and Other Benefits Specialist Advanced Exam

This practice set contains 100 questions from the matching question bank and focuses on scheme, pension, funding, benefit, and defined. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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IFoA SA4 Practice Questions - IFoA SA4 Pensions and Other Benefits Specialist Advanced Exam

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