IC83 GROUP INSURANCE - 14
Que. 1 : Q1) Which Occupational pension schemes generate guaranteed benefits based typically on final pensionable salary and years of service since joining the scheme?
1. a) Defined Benefit scheme
2. b) Defined Contribution scheme
3. c) National pension system
4. d) Pay as you go pension schemes
Que. 2 : Q2) The cost of defined benefit schemes depends upon which of the following?
1. a) The level of future investment returns
2. b) How long the pensioners live in retirement
3. c) The cost of administration
4. d) All of the above
Que. 3 : Q3) Gratuity is payable to all employees who leave the service of the employer (other than by death or incapacitation) after putting in a minimum service of years
1. a) 15
2. b) 10
3. c) 5
4. d) 12
Que. 4 : Q4) Which is the main defining characteristics of employer-employee group insurance is that there is no need, up to a certain level of cover, for individual evidence of Insurability except as defined above evidence of Insurability?
1. a) Riders
2. b) Free cover limit
3. c) OYRGTA
4. d) Dependent Insurance
Que. 5 : Q5) Except for single premium payment products, the premium paying term for all long term group products shall not be less than ______.
1. a) 2 years
2. b) 3 years
3. c) 4 years
4. d) 5 years