IC83 GROUP INSURANCE – 11

Que. 1 : Q1) Which of the following statement best describes interest costs?

   1.  a) It is the cost which arises because PVO increase due to the service rendered by the employees in the current period

   2.  b) This is arrived at by multiplying the discount rate as determined at the start of the period by ‘PVO’ at the beginning of the period

   3.  c) It comprises of interest, divident and other revenue derived from the plan assets and any realised or unrealised gain on the plan assets

   4.  d) It is the amount which an asset could be exchanged or a liability settled between knowledgeable parties

Que. 2 : Q2) Which of the following is a disadvantage of free cover limit provided under group insurance?

   1.  a) Cost reduction

   2.  b) Saves time

   3.  c) Spread of the mortality risk

   4.  d) Anti-selection

Que. 3 : Q3) Accounting standard 15(revised 2005) is not applicable to which of the following firms?

   1.  a) Listed companies on any stock exchange in India

   2.  b) Companies having turnover of more than 50 crores

   3.  c) Companies employing less than 50 employees

   4.  d) Banks/FIs/Insurance companies

Que. 4 : Q4) What is the annual premium amount that has to be paid by an individual under pradhan Mantri Suraksha Yojana(PMSSY) ?

   1.  a) Rs 10

   2.  b) Rs 12

   3.  c) Rs 500

   4.  d) Rs 5000

Que. 5 : Q5) Which of the following methods are commonly used to set the contributions for defined benefit pension schemes that are funded in advance by regular contributions?

   1.  a) Prospective methods

   2.  b) Accrued benefit methods

   3.  c) Both a and b

   4.  d) None of these

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