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Category: IC83 GROUP INSURANCE – 04

IC83 GROUP INSURANCE – 04

Que. 1 : Q1) Which of the following is an advantages of Contributions to the Group scheme?

   1.  a) Increased administration

   2.  b) Encourage members to save more for their retirement

   3.  c) Some employees will be unable to make significant contributions

   4.  d) None of these

Que. 2 : Q2) The sum of all the rider premiums attached to the pension product shall not exceed _______ of the premium paid for the pension policy.

   1.  a) 10%

   2.  b) 15%

   3.  c) 20%

   4.  d) 25%

Que. 3 : Q3) An employer’s contribution of at least ______ of total contributions is a mandatory requirements of an exempt approved occupational pension scheme, except where the scheme is over funded.

   1.  a) 10%

   2.  b) 15%

   3.  c) 20%

   4.  d) 35%

Que. 4 : Q4) Tier 1 Account of NPS is called

   1.  a) Pension Account

   2.  b) Savings Account

   3.  c) Life Account

   4.  

Que. 5 : Q5) What means cancellation of the units at the prevailing unit price of the segregated funds offered in the products, in case of partial withdrawals, switches, surrender etc.,?

   1.  a) Premium re-direction

   2.  b) Fund value

   3.  c) Switches

   4.  d) Redemption

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