CEBS - GBA 1 - PRACTICE EXAM QUESTIONS AND
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Terms in this set (98)
Which of the following The more unpredictable the event that
statements will trigger a claim, the larger the
correctly describes minimum group size and premium
minimum requirements
requirements that
group benefit plans
typically must
meet in order to be
prospectively rated on
contract renewal?
Which of the following It is a mathematical process that removes
statements anomalies that should not appear in the
correctly describes mortality data
the term graduation
as it applies to
mortality tables?
If the plan sponsor Long-term disability (LTD)
pays the premium,
which of the
following group
,insured benefits is
taxable to the plan
member?
Which of the following Plan features of both contributory and
statements noncontributory benefit plans must be
correctly describes communicated to plan members
phases of a group plan during the enrollment process
marketing?
Which of the following The loss must have financial significance to the
statements insured (The loss must not be
correctly describes a catastrophic to the insurer. Option C: The
characteristic of an loss must occur by chance. Option D: The
insurable risk? loss must be predictable for the
insurer.)
With respect to They are involved in enrolling group members
marketing a group and installing new plans
insurance plan, which
of the following
statements best
describes insurer
representatives
known as
account
executives?
Which of the following Future probabilities of loss are not valid
,statements unless a large number of incidents exist
correctly describes the to ensure the outcomes are less likely
statistical concept to deviate
known as the law of
large numbers?
Which of the following For self-insured plans with an
statements administrative services only (ASO)
correctly describes arrangement, the insurer bills the plan
an insured plan that sponsor monthly for administration
is insurer- fees
administered?
, If the probability that 0.855 (P (Survive both years) = (0.95) x (1 - 0.1) =
an individual will live 0.95 x 0.90 = 0.855.)
one year is 0.95
and the probability
of
dying in the following
year is 0.10, what is
the probability that
an individual will
survive both years?
Which of the following An employee can enroll in the plan any
statements time between his or her date of hire and
correctly describes the end of a waiting period
the group benefits
enrollment process for
new employees?
A type of service Adjudicating and paying claims
offered under a
third- party
administrators
(TPAs) claims
settlement only
arrangement is:
Unless otherwise The plan member retires (Unless
specified in the group otherwise specified in the group insurance
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Terms in this set (98)
Which of the following The more unpredictable the event that
statements will trigger a claim, the larger the
correctly describes minimum group size and premium
minimum requirements
requirements that
group benefit plans
typically must
meet in order to be
prospectively rated on
contract renewal?
Which of the following It is a mathematical process that removes
statements anomalies that should not appear in the
correctly describes mortality data
the term graduation
as it applies to
mortality tables?
If the plan sponsor Long-term disability (LTD)
pays the premium,
which of the
following group
,insured benefits is
taxable to the plan
member?
Which of the following Plan features of both contributory and
statements noncontributory benefit plans must be
correctly describes communicated to plan members
phases of a group plan during the enrollment process
marketing?
Which of the following The loss must have financial significance to the
statements insured (The loss must not be
correctly describes a catastrophic to the insurer. Option C: The
characteristic of an loss must occur by chance. Option D: The
insurable risk? loss must be predictable for the
insurer.)
With respect to They are involved in enrolling group members
marketing a group and installing new plans
insurance plan, which
of the following
statements best
describes insurer
representatives
known as
account
executives?
Which of the following Future probabilities of loss are not valid
,statements unless a large number of incidents exist
correctly describes the to ensure the outcomes are less likely
statistical concept to deviate
known as the law of
large numbers?
Which of the following For self-insured plans with an
statements administrative services only (ASO)
correctly describes arrangement, the insurer bills the plan
an insured plan that sponsor monthly for administration
is insurer- fees
administered?
, If the probability that 0.855 (P (Survive both years) = (0.95) x (1 - 0.1) =
an individual will live 0.95 x 0.90 = 0.855.)
one year is 0.95
and the probability
of
dying in the following
year is 0.10, what is
the probability that
an individual will
survive both years?
Which of the following An employee can enroll in the plan any
statements time between his or her date of hire and
correctly describes the end of a waiting period
the group benefits
enrollment process for
new employees?
A type of service Adjudicating and paying claims
offered under a
third- party
administrators
(TPAs) claims
settlement only
arrangement is:
Unless otherwise The plan member retires (Unless
specified in the group otherwise specified in the group insurance
