IC83 GROUP INSURANCE - 06

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Q1.The commission paid to agents or corporate agents in respect of a group insurance policy shall not exceed the percentage approved by ____.
   a) RBI
   b) IRDA
   c) SEBI
   d) SBI
 
Q2.Non-resident are eligible to open an account under the public provident scheme.
   a) TRUE
   b) FALSE
 
Q3. The extra eligibility conditions may also pally such as not having been absent from work due to sickness for more than say ___ per year during the previous 2 years.
   a) 3 weeks
   b) 4 weeks
   c) 5 weeks
   d) 6 weeks
 
Q4.All linked insurance products shall have a lock-in period of ____ from the date of inception of the policy.
   a) 2 years
   b) 3 years
   c) 4 years
   d) 5 years
 
Q5.Which refers to group insurer's retention depending on IRDA regulations and the degree of comfort the insurer has with its projected claims distribution after reinsurance?
   a) Surplus arrangement
   b) Catastrophe cover
   c) Quota Share Arrangement
   d) Stop loss Reinsurance
 
Q6.For Both Prospective Methods and Accrued Benefits methods, the ____ is the difference between the discontinued value of the total expected benefits for the members and the discounted value of the future expected contributions.
   a) Security
   b) Actuarial Liability
   c) Group salary
   d) Assured benefits
 
Q7.What is the lock-in period for the public provident fund scheme?
   a) 5 years
   b) 10 years
   c) 15 years
   d) 25 years
 
Q8.The NPS Subscriber is required to make Minimum amount per Contribution in Tier-II is
   a) Rs.100
   b) Rs.250
   c) Rs.500
   d) Rs.1000
 
Q9.Which of the following is/are an example of employee benefit is/are generally offered to employees by their company?
   a) Remunerative wages structure
   b) Bonus to the employees
   c) Social security benefits
   d) All of the above
 
Q10._____ is the cost that arises because PVO increases due to the service rendered by the employees in the current period.
   a) Past service cost
  b) Present value of the obligation
   c) Current service cost
   d) Fair value of plan assets

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