IC83 GROUP INSURANCE - 13
| Q1.___ in an insured scheme, is a method of funding liability, and the contributions received by the insurer are credited to a running account maintained for the policyholder. |
| a) Cash Accumulation System |
| b) Definite Funding Method of Costing |
| c) Indefinite Funding Method of Costing |
| d) Annual Premium Costing |
| Q2.In case the employee is not paid the due amount of gratuity he should apply, ordinarily, within ___, in Form-1 to the employer. |
| a) 15 days |
| b) 30 days |
| c) 45 days |
| d) 60 days |
| Q3.Which Entry Age Method rate is determined as the Contribution rate, which, if payable over the expected future membership of a group of new entrants, would provide for the total expected benefits payable in respect of that group? |
| a) Entry Age Standard Contribution Rate |
| b) Entry Age Actuarial Liability |
| c) Standard Contribution rate |
| d) None of these |
| Q4.The fund-based group non-linked products may levy a surrender charge not exceeding 0.05 percent of the total policy account value with a maximum of Rs.5,00,000 if the policy is surrendered within the third renewal of the policy. |
| a) RS.2,00,000 |
| b) Rs.3,00,000 |
| c) Rs.4,00,000 |
| d) Rs.5,00,000 |
| Q5.Other than single premium products, the guaranteed surrender value shall be at least ___ of the total premiums paid less any survival benefits already paid, if surrendered between the second year and third year of the policy, both inclusive. |
| a) 10% |
| b) 20% |
| c) 30% |
| d) 40% |
| Q6.What refers to the simplest form-Each member will be granted a union pension and employees may contribute a fixed amount? |
| a) Graded Schedule |
| b) Average Salary |
| c) Flat Rate |
| d) Final salary |
| Q7.___ generate guarantee benefits based typically on final pensionable salary and years of services since joining the scheme. |
| a) Defined contribution occupational pension scheme |
| b) Defined benefit occupational pension scheme |
| c) Hybrid occupational pension scheme |
| d) None of the above |
| Q8.In which method a defined unit of pension is respect of a year of service will be purchased fully by payment of one single premium in that year? |
| a) Single Premium Costing |
| b) Annual Premium Costing |
| c) Controlled Funding |
| d) None of these |
| Q9.In which methods, the Actuarial Liability for active members is based on pensionable service accrued up to the valuation date or to the end of the Control period? |
| a) Projected Unit Method |
| b) Accrued Benefits Methods |
| c) Entry Age Method |
| d) Attained Age Method |
| Q10.Which Tier is mandatory for all Government servants joining Government service on or after 1 January 2004? |
| a) Tier I |
| b) Tier II |