1) In a double boiler or chafing dish, stir the butter and grated cheese, until the cheese is melted.
2) Stir in the beaten egg, mustard and salt, stir continuously and cook, until well blended.
3) Gradually stir in the beer and Worcestershire sauce, blend well.
4) Stir in the sliced olives, stir continuously, until thoroughly mixed.
5) Spoon the Cheese Beer and Olive Rarebit on corn-bread or toast, sprinkle with the paprika and serve immediately.