Erisa - Study guides, Class notes & Summaries

The process by which the key stakeholders of an organization envision its future and develop a mission, objectives, and procedures to achieve that future is called: A) Goal Planning B) Future Planning C) Succession Planning D) Strategic Planning - Answer B) Strategic Planning Organizational culture reflects a shared understanding among all who work within the company. What are the common components of organizational culture? A) Vision, mission, and values B) Structure, system, and peo...

CEBS: GBA/RPA 3 (new curriculum) latest update 100% pass ERISA Employee Retirement Income Security Act 1974 SOC Reports Service Organization Controls: for external vendors SOC 1 Internal Controls & Financial reports; used by auditors SOC 2 Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 Same as SOC2, but available for public use. Tribble V Edison Landmark court case re fiduciary responsibility pe...

Under the DOL regulation, many advisors to retirement plans and their participants will be - ANSWER-3(21) fiduciaries. They will act alongside other fiduciary service providers who are also not necessarily named in the plan document but who exercise discretionary control over plan provisions or plan investments. The advisor should educate the - ANSWER-plan sponsor about hiring fiduciary service providers, including the different roles service providers, including the different roles service p...

Exam Simulator FL-LH - FL Health and Life and Annuity 100% Pass A non-contributory plan requires _________ participation of all eligible employees 100% A characteristic of preferred provider organizations (PPOS) would be: Discounted fees for the patient Which of the following areas of state regulation is NOT protected by the saving clause in ERISA? Commerce Additional coverage can be added to a whole Life policy by adding a(n): decreasing term rider What benefit does the payor clause on a Ju...

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...

ERISA EXAM QUESTIONS WITH SOLVED SOLUTIONS ALREADY PASSED!!

ERISA Exam Questions & Answers 2023/2024 Single employer plan - ANSWER-a plan which is not a multiemployer plan Multiemployer plan - ANSWER-A plan that is sponsored by more than one employer pursuant to a collective bargaining agreement is called a multiemployer plan. § 3(37). Employee benefit plan: - ANSWER-means any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that by i...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...