CEBS GBA Exams BUNDLE |Questions with Complete Solutions| 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 ...

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...

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) - Assumption that rational customers will make informed decisions about value, quality and price, while producers who meet consumer's demands will be rewa...

.1 Distinguish between the broad view and the narrow view of employee benefits - The broad view defines employee benefits as anything other than direct compensation, including both government-mandated benefits and private plans. (social security, pension plans etc.). The narrow view holds that em...

Section 209 of ERISA requires plan administrators to retain records related to the determination of each employee's benefit for what could turn out to be decades. List the kinds of Basic Plan Information needed to document the benefits due and/or paid to employees (Mod 6.3) - • Properly execut...

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 benef...