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Category: IC83 GROUP INSURANCE – 08

IC83 GROUP INSURANCE – 08

Que. 1 : Q1) Which was launched by PFRDA, to extend the coverage of NPS to the weaker and economically disadvantaged sections of the society with their limited investment potential, which specifically targets the marginal investors and promotes small savings during their productive life?

   1.  a) NPS- Superannuation

   2.  b) NPS – Swavalamban

   3.  c) NPS – Gratuity

   4.  d) None of these

Que. 2 : Q2) Which of the following is correct?

   1.  a) Carrying amount of liability = Past value of obligation minus the Present value of any plan assets

   2.  b) Carrying amount of liability = Present value of obligation plus the Future value of any plan assets

   3.  c) Carrying amount of liability = Present value of obligation minus the fair value of any plan assets

   4.  d) Carrying amount of liability = Past value of obligation plus the fair value of any plan assets

Que. 3 : Q3) Which rating refers to allowing the group to participate in the good or adverse claims’ experience it will have at the end of the Insurance term?

   1.  a) Prospective experience rating

   2.  b) Profit Experience Rating

   3.  c) Retrospective Experience Rating

   4.  d) Premium experience rating

Que. 4 : Q4) Which cost comes into picture when an entity introduces a defined benefit plan or makes some changes to an existing plan, which results in increase of PVO for employees service in past period which has to be accounted in current period?

   1.  a) Fair value of plan Assets

   2.  b) Past Service Cost

   3.  c) Present Value of Obligation

   4.  d) Current service cost

Que. 5 : Q5) One of the defining characteristic of occupational pensions is that they are ‘tested’ on their emerging benefits rather than on contribution levels. The Inland Revenue imposes limits on the size of the pension, the tax-free lump sum and death benefits, known as ___________.

   1.  a) Hybrid schems

   2.  b) Defined Contribution scheme

   3.  c) Maximum Emerging Benefits

   4.  d) Defined Benefit scheme