Cebs gba exam 2024 Study guides, Class notes & Summaries

According to the RAND Health Insurance Experiment, which variable has the greatest power in explaining health expenditures? A.) Welfare eligibility B.) Prior utilization C.) Physical health (based on self-reported measures) D.) General health (based on self-reported measures) E.) Mental health (based on self-reported measures) - correct answer B.) Prior utilization A provision in some group life insurance plans that provides for the payment of all or part of the death benefit...

CEBS Exam Practice Questions and Answers Latest 2023/2024 (100% Verified). 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 mortality data 3. If the plan sponsor pays the premium, which of the following group insured benefits is taxable to the plan member?: Long-term disability (LTD) 4. Which of the following statements correctly describes phases of a...

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? - correct 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? - correct answer It is a mathematical process that removes anomalies tha...

An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - 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 plan is defined (Mod...

CEBS - GBA 1 - Practice Exam Questions & Answers 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 mathemat...

Broad view of Employee Benefits (Mod 1.1) - 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) - Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result from the employment relationship and that are ...

CEBS GBA - Module 1 Exam Questions & Answers 2023/2024 Fringe Benefits - ANSWER-Addition of benefits as an offset to higher labor Broad View - ANSWER-"Virtually any form of compensation other than direct wages" Limited (Narrow) View - ANSWER-Benefits that stem from an employment relationship, not underwritten or paid for directly by the government Reasons for growth in Employee Benefit Plans - ANSWER-Business, tax legislation, collective bargaining, efficiency of the approach ...

CEBS GBA Exam 2 Questions & Answers 2023/2024 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) - 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 u...

CEBS GBA Exam 2-with 100% verified solutions-2023-2024

prepaid service plans - correct answer this type of plan provided a set allowance (level of benefit) for hospital/medical services and paid them directly to the provider ex: blue cross blue shield indemnity plans - correct answer plans that reimbursed or indemnified a set dollar amount to the subscriber first dollar coverage - correct answer plan pays benefits from the minute an expense is incurred. the subscriber pays no expense. this model was used in early hospital and medical ...