Practiceb - Study guides, Class notes & Summaries

A prescription drug rebate occurs when: - correct answer There is an agreement between a pharmacy benefit manager and a drug manufacturer. The concept designed to make victims of losses whole again reflect the principle of: - correct answer Indemnification The design of any employee benefit plan should start with deciding: - correct answer What are the overall objectives of the plan. A peril as the term applies to the insurance mechanism is defined as: - correct answer The cause...

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...

CEBS GBA 1 Practice Exam Questions (2022) A prescription drug rebate occurs when: - ANSWER-There is an agreement between a pharmacy benefit manager and a drug manufacturer. The concept designed to make victims of losses whole again reflect the principle of: - ANSWER-Indemnification The design of any employee benefit plan should start with deciding: - ANSWER-What are the overall objectives of the plan. A peril as the term applies to the insurance mechanism is defined as: - ANSWER-Th...

E.) Avoidance, retention, insurance and control Module: 2 Reference: Employee Benefits Design and Compliance, First Edition, pages 39-42.Study Guide, First Edition, page 8, Objective 2.5. - correct answer Which risk-handling techniques are being used by a firm that decides to not produce a dangerous chemical, to purchase insurance with a $10,000 deductible on its assets and to install a fire sprinkler system throughout the plant? a. Insurance and retention b. Control and transfer c. Noninsu...

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...

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? - ANSWERThe 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? - ANSWERIt is a mathematical process that removes anomalies that should not appear in t...

E.) Avoidance, retention, insurance and control Module: 2 Reference: Employee Benefits Design and Compliance, First Edition, pages 39-42.Study Guide, First Edition, page 8, Objective 2.5. - Answer- Which risk-handling techniques are being used by a firm that decides to not produce a dangerous chemical, to purchase insurance with a $10,000 deductible on its assets and to install a fire sprinkler system throughout the plant? a. Insurance and retention b. Control and transfer c. Noninsurance tra...

CEBS - GBA 1 - PRACTICE EXAM

CEBS GBA 2 Practice Exam Questions & Answers 2023/2024 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) - ANSWER-B.) Prior utilization A provision in some group life insurance plans that provides f...

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