Cebs gba exam 2024 Study guides, Class notes & Summaries

CEBS - GBA 1 - Practice Exam With 100% Correct Answers 2024

CEBS - GBA 1 - Practice Exam Questions & Answers 2023/2024 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? - ANSWER-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? - ANSWER-It is a mat...

CEBS GBA Exam 1 Questions & Answers 2023/2024 Broad view of Employee Benefits (Mod 1.1) - ANSWER-Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - ANSWER-Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benef...

Broad view of Employee Benefits (Mod 1.1) - correct answer Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - correct answer Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result from the employ...

What is the basic assumption underlying concept of a free market and how is it challenged by the theory of "bounded rationality?" (Mod 1.1) - correct answer Assumption that rational customers will make informed decisions about value, quality and price, while producers who meet consumer's demands will be rewarded with market share and profit. However this is challenged by the consumer's "bounded rationality" - rational consumer is only functional up to a certain point because choices are ...

An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - correct answer 1) There must be a plan, fund or program. 2) The plan, fund or program is established or maintained by an employer. 3) The plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise. 4) Benefits are provided to participants and beneficiaries. Explain how a "plan, fund or program" for an employee benefit pla...

CEBS GBA 1 Module 1 Exam 2023 – 2024

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? - 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? - It is a mathematical process that removes anomalies that should not appear in the mort...

CEBS - GBA 1 Practice Exam Questions and Answers Latest 2023/2024 (100% Verified). 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?: The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements 2. Which of the following statements correctly describes the term graduation as it applies to mortality tables?: It is...

CEBS - GBA 1 Practice Exam Questions and Answers Latest 2023/2024 (Verified). 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?: The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements 2. Which of the following statements correctly describes the term graduation as it applies to mortality tables?: It is a ma...