IC83 GROUP INSURANCE - 16

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Q1.In India, IRDA has allowed which methods of reinsurance for group business in case of new insurers?
   a) Quota share Arrangement
   b) Surplus Arrangement
   c) Proportional Reinsurance
  d) Non-Proportional Reinsurance
 
Q2.Group insurance is cost-efficient because of which of the following reasons?
  a) Lower acquisition expenses
   b) Proportionally lower commissions to sales intermediaries
   c) By its nature pre-empts the need for individual underwriting
   d) All of the above
 
Q3. If the underlying investments of a ___ underperform, then the employer may have to pay more money into the scheme to honor the guarantees.
   a) Defined Contribution scheme
   b) Pay as you go pension schemes
   c) Defined Benefit scheme
   d) National pension system
 
Q4.The NPS Subscriber is required to make a Minimum amount per Contribution in Tier I is
   a) Rs.100
   b) Rs.250
   c) Rs.500
   d) Rs.1000
 
Q5.Which is a combination of term assurance and pure endowment to ensure payment of certain benefits both on death and on retirement?
   a) Group Superannuation Schemes
   b) Group Life Insurance Schemes
   c) Group Gratuity Schemes
   d) None of these
 
Q6.Which pensions schemes are based on final salary and the employee is typically promised a pension of a fixed proportion of their salary in the period leading up to retirement?
   a) Defined Contribution Schemes
   b) Defined Benefit Schemes
   c) Individual pension schemes
   d) Group Pension schemes
 
Q7.Which scheme is a pension scheme for survivors, old aged, and disabled persons?
   a) Employees Provident Fund and; MP Act, 1952
   b) Income Tax Act, 1961
   c) Employees Deposit-Linked Insurance Scheme,1976
   d) Employee's Pension Scheme,1995
 
Q8.The sum of all the rider premiums attached to the pension product shall not exceed __ of the premium paid for the pension policy.
   a) 15%
   b) 20%
   c) 25%
   d) 30%
 
Q9.Expected Return on Plan Assets comprises of A. Interest B. Dividend C. Unrealised gain on the plan assets
   a) Only A
   b) Only B
   c) Both A and B
  d) A, B, and C
 
Q 10. The scheme rules commonly allow part of the pension to be commuted for a tax-free lump sum at a rate of ____ times final salary for each year of service, leaving a reduced pension of ____ times final salary for each year of service.
   a) 2/80th,2/80th
   b) 3/80th,1/80th
   c) 4/80th,3/80th
   d) 1/80th,3/80th

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