Malcolm Is Interviewing for a New Job and He Is

question 33

Multiple Choice

Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering.One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he works for the firm.This pension plan could be classified as a ________.

• A) non-contributory, defined contribution
• B) contributory, defined benefit
• C) non-contributory, defined benefit
• D) contributory, qualified plan

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Definitions:

Problem-Space

The set of all possible states or configurations that can be reached in solving a problem or achieving a goal.

Mental Set

A predisposition to approach a problem in a particular way, often influenced by past experiences.

Functional Fixedness

A cognitive bias that limits a person to using an object only in the way it is traditionally used.

Well-defined Thinking

A mode of thought where problems, objectives, and methods are clearly understood and delineated.