IC83 GROUP INSURANCE - 18

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Q1.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
 
Q2.Which benefits mean an amount of benefit payable on a specified event offered under the rider, and is allowed as an add-on benefit to the main benefit?
   a) Maturity benefit
   b) Death benefit
   c) Early benefit
   d) Rider benefit
 
Q3.In which method a defined unit of pension in 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
 
Q4.Accounting for ____ is complex because actuarial assumptions are required to measure the obligation and the expense.
   a) Post-employment benefits
   b) Long-term employee benefits
   c) Defined contribution plans
   d) Defined benefit plans
 
Q5.If the commission or remuneration if any form offered in a product is substantially different between the distribution channels, the ___ shall justify the reasons for the difference.
   a) Agent
   b) Appointed Actuary
   c) Chairman
   d) Principal
 
Q6.Which products may be offered either under a linked platform or a non-linked platform?
   a) Par products
   b) Non-par products
 
Q7.Which type of pension is payable for life and on demise the purchase will be returned to legal heirs in a lump sum?
   a) Life Pension
   b) Normal pension
   c) Guaranteed Pension
   d) Return of Purchase
 
Q8.In which Group insurance Schemes, the insured members also share the cost and these schemes are generally optional for members and thereof a certain minimum proportion of members should contribute in order to reduce the risk of selection against the insurer?
   a) Contributory scheme
   b) non-Contributory Schemes
   c) Short term contracts
   d) Long term contracts
 
Q9.What refers to the sum Assured Limit up to which the entire risk is borne by the insurer himself without opting for reinsurance?
   a) Proportional limit
   b) Treaty limit
   c) Retention limit
   d) Contraction limit
 
Q10.What is the amount up to which the Employees' Provident fund organization (EPFO) is allowed to invest its fund in debt securities issued by banks and financial institutions and other body corporates?
   a) Up to 10 percent
   b) Up to 15 percent
   c) Up to 35 percent
   d) Up to 55 percent

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