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CEBS-GBA 1- PRACTICE EXAM WITH CORRECT 100+ QUESTIONS AND ANSWERS GOOD SCORE IS GUARANTEED LATEST 2024 – 2025 GRADE A+ $14.99
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CEBS-GBA 1- PRACTICE EXAM WITH CORRECT 100+ QUESTIONS AND ANSWERS GOOD SCORE IS GUARANTEED LATEST 2024 – 2025 GRADE A+

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CEBS-GBA 1- PRACTICE EXAM WITH CORRECT 100+ QUESTIONS AND ANSWERS GOOD SCORE IS GUARANTEED LATEST 2024 – 2025 GRADE A+

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  • September 24, 2024
  • 37
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • CEBS-GBA 1-
  • CEBS-GBA 1-

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CEBS-GBA 1- PRACTICE EXAM WITH
CORRECT 100+ QUESTIONS AND ANSWERS
GOOD SCORE IS GUARANTEED LATEST
2024 – 2025 GRADE A+




Which of the following statements correctly describe(s)
mortality tables? - ANSWERS-They show the incidence of death,
by age, among a given group of people


Insurers use mortality tables to predict probable loss rates for a
given group of insureds


(Morbidity tables show the incidence of sickness and accidents,
by age, among a given group of people)

,With respect to group insurance premium rates, which of the
following costs is (are) usually classified under the claims
administration portion of the retention charge? - ANSWERS-
Cost of paying claims


(Retention is usually separated into general administration,
claims administration, risk charges, profit margins and premium
taxes. The general administration portion includes the cost to
service the group.)




If the plan sponsor pays the premium, which of the following
group insured benefits is taxable to the plan member? -
ANSWERS-Long-term disability (LTD)


Which of the following statements correctly describes phases of
a group plan marketing? - ANSWERS-Plan features of both
contributory and noncontributory benefit plans must be
communicated to plan members during the enrollment process


Which of the following statements correctly describes a
characteristic of an insurable risk? - ANSWERS-The loss must

,have financial significance to the insured (The loss must not be
catastrophic to the insurer. Option C: The loss must occur by
chance. Option D: The loss must be predictable for the insurer.)




Which of the following statements correctly describes
minimum requirements that group benefit plans typically must
meet in order to be prospectively rated on contract renewal? -
ANSWERS-The more unpredictable the event that will trigger a
claim, the larger the minimum group size and premium
requirements


Which of the following statements correctly describes the term
graduation as it applies to mortality tables? - ANSWERS-It is a
mathematical process that removes anomalies that should not
appear in the mortality data


With respect to marketing a group insurance plan, which of the
following statements best describes insurer representatives
known as account executives? - ANSWERS-They are involved in
enrolling group members and installing new plans

, Which of the following statements correctly describes the
statistical concept known as the law of large numbers? -
ANSWERS-Future probabilities of loss are not valid unless a
large number of incidents exist to ensure the outcomes are less
likely to deviate


Which of the following statements correctly describes an
insured plan that is insurer-administered? - ANSWERS-For self-
insured plans with an administrative services only (ASO)
arrangement, the insurer bills the plan sponsor monthly for
administration fees




If the probability that an individual will live 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? -
ANSWERS-0.855 (P (Survive both years) = (0.95) x (1 - 0.1) =
0.95 x 0.90 = 0.855.)


Which of the following statements correctly describes the
group benefits enrollment process for new employees? -
ANSWERS-An employee can enroll in the plan any time
between his or her date of hire and the end of a waiting period

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