IC83 GROUP INSURANCE - 09

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Q1.Discontinuance of payments of contribution amount of After 6 months account will be _____.
   a) Frozen
   b) Deactivated
   c) Closed
   d) None of these
 
Q2.The premium rates of a group of schemes are adjustment periodically on the basis of experience this feature is known as___.
   a) Incidental pricing
   b) Master cover limit
   c) Free cover limit
   d) Experience rating
 
Q3.The Payment of Gratuity Act, 1972 requires gratuity to be paid to an employee at the time of termination of employment where the employee has been in continuous service for not less than five years.
   a) False
   b) True
 
Q4.Which act provides for 12 weeks wages during maternity as well as paid leave in certain other related contingencies?
   a) The Workmen's Compensation Act,1923
   b) The Employees' State Insurance Act, 1948
   c) The Maternity Benefit Act, 1961
   d) The Employees' Provident Funds and Miscellaneous Provisions Act, 1952
 
Q5.Which benefits to employees provide a subsidy, free housing, car, and medical are treated as an expense?
   a) Post-employment benefits
   b) Non-monetary benefits
   c) Under defined benefit plans
   d) Short-term employee benefits
 
Q6.What is defined as the amount payable to any employee only who serves for a minimum period of 5 years at a stretch with his employer?
   a) Labour welfare
   b) Gratuity
   c) Share premium
   d) Free Reserves
 
Q7.Public Provident Scheme is for
   a) a period of 15 years
   b) a period of 12 years
   c) a period of 8 years
   d) a period of 20 years
 
Q8.What is the maximum amount of gratuity payable as per the Act?
   a) Rs 3,50,000
   b) Rs 2,50,000
   c) Rs 50,0000
   d) Rs 10,00,000.
 
Q9.Discontinuance of payments of contribution amount of After 24 months account will be _____.
   a) Frozen
   b) Deactivated
   c) Closed
   d) None of these
 
Q10.Which was established by the Government of India on 23rd August 2003 to promote old age income security by establishing, developing, and regulating pensions funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental?
   a) IRDA
   b) PFRDA
   c) RBI
   d) SEBI

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