IC83 GROUP INSURANCE - 05

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Q1.How many rupees is charged for claim settlement per claim in Group Insurance Products administration?
   a) Rs.10/-
   b) Rs.15/-
   c) Rs.20/-
   d) Rs.30/-
 
Q2.The number allotted in NPS is
   a) Personal Pension Account Number
   b) Personal Retirement Account Number
   c) Permanent Retirement Account Number
   d) Permanent Pension Account Number
 
Q3.Which of the following is related to the amount of Gratuity in Group Gratuity Schemes?
   a) The parties involved
   b) Years of service
   c) Years of service and the last drawn salary
   d) Amount of Insurance
 
Q4.In the context of NPS portfolio allocation based on Investors, age is known as
   a) Life Cycle Fund
   b) Wealth Cycle Fund
   c) Pension Fund
   d) Retirement Fund
 
Q5.Which of the following motivates the employees to contribute their maximum worth to the enterprise?
   a) Bonus to the employees
   b) Social Security benefits
   c) A remunerative wage structure
  d) Different types and numbers of leaves
 
Q6.Which means the market value of paid-up and subscribed equity capital?
   a) Net worth
   b) Paid up share capital
   c) Pensions funds
   d) Interest rate
 
Q7.Which can be expressed as the present value of all benefits accrued at the valuation date, based on projected final earnings for members in service?
  a) Attained Age Standard Contribution Rate
   b) Attained Age Actuarial Liability
   c) Standard Contribution Rate
   d) The Modified Contribution Rate
 
Q8.In NPS, CRA stands for
   a) Central Record Keeping Agency
   b) Central Record Authority
   c) Central Record Authority.
   d) Common Record Authority.
 
Q9.As per section 35DDA, where an assessee incurs any expenditure by way of a payment to an employee in connection with, his voluntary retirement, in accordance with any scheme of voluntary retirement____ of the amount so paid shall be deducted in computing the profits and gains of the business for that previous year, and the balance shall be deducted in equal installments for each of the four immediately succeeding previous years.
   a) One half
   b) One-third
   c) One-fourth
   d) One-fifth
 
Q10.In which of the following arrangement does the employer make regular payments, typically a percentage of salary into a pension fund, and the fund is used to pay pension when the employee retires?
   a) Voluntary retirement scheme
   b) Defined benefit scheme
   c) Defined contribution scheme
   d) Employee stock option plan

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