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Category: IC83 GROUP INSURANCE – 03

IC83 GROUP INSURANCE – 03

Que. 1 : Q1) Which pensions schemes means that a pension plan has enough assets to totally pay off benefits earned to date: if no one earned any more benefits in the future, no additional money is expected to be needed to pay for current benefits?

   1.  a) Pay as you go Pension Schemes

   2.  b) Fully Funded Pension Schemes

   3.  

   4.  

Que. 2 : Q2) For calculation of liability of payment of gratuity to an employee on leaving service, the wage to be taken into account is

   1.  a) The average wage earned by him in the entire service

   2.  b) The average wage earned by him in the last 5 years

   3.  c) The last drawn wage

   4.  d) None of the above

Que. 3 : Q3) What is / are advantage/s Defined Contribution Scheme?

   1.  a) Some employees will be unable to make significant contributions

   2.  b) Increased administration

   3.  c) Favour those who are able to make significant contributions

   4.  d) All of the above

Que. 4 : Q4) Which of the following is a solution to manage inadequacy of retirement corpus closer to retirement?

   1.  a) Invest in riskier assets

   2.  b) Postpone retirement

   3.  c) Reduce periodic savings

   4.  d) Increase corpus target

Que. 5 : Q5) Under Atal Pension Yojana, a subscriber would receive a minimum fixed pension of _______ per month.

   1.  a) Rs.500

   2.  b) Rs.1000

   3.  c) Rs.1500

   4.  d) Rs.2000