SOA Exam P Sample Question 325
Study guide: Exam P-1
A company sponsors health insurance, life insurance, and retirement plans for its employees. Each employee selects one of two participation options:
- (i) participate in exactly two plans at the company's expense
- (ii) participate in none of the plans and receive a cash lump sum payment instead
Employee participation levels in each plan follow:
- (i) 62.5% of employees participate in the health insurance plan.
- (ii) 37.5% of employees participate in the life insurance plan.
- (iii) 50.0% of employees participate in the retirement plan.
Calculate the percentage of employees who participate in both the life insurance and retirement plans.
- A) 12.5%
- B) 25.0%
- C) 37.5%
- D) 50.0%
- E) 62.5%
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