According to erisa Study guides, Class notes & Summaries

What are the 4 rules in terms of investing in a small firm? - Answer-Time frame of at least 3-5 years, diversify among 20-30 different issues, avoid turnover of 30% annually, and sell if and when 40% of company's shares become owned by institutional investors. What is a characteristic of an unfunded excess benefit plan? - Answer-The plan generally need not comply with either the disclosure or reporting requirements of ERISA. Unfunded excess benefit plans need not comply with ERISA disclosur...

A life annuity with period certain is characterized as - guaranteeing benefit payments for a stated minimum number of years a life insurance company just paid a $100,000 death benefit to a beneficiary. when the insured died, the cash value was 15,000 and the total premiums-paid equaled 10,000. how much of the proceeds will be added to the beneficiary's gross income for tax purposes? - nothing, death benefits to a beneficiary are exempt from federal income tax a life insurance policy can u...

What are the 4 rules in terms of investing in a small firm? - ANSWER-Time frame of at least 3-5 years, diversify among 20-30 different issues, avoid turnover of 30% annually, and sell if and when 40% of company's shares become owned by institutional investors. What is a characteristic of an unfunded excess benefit plan? - ANSWER-The plan generally need not comply with either the disclosure or reporting requirements of ERISA. Unfunded excess benefit plans need not comply with ERISA disclosur...

Employers are required to pay Social Security according to: a) ERISA b) FICA c) OWBPA d) ADEA - Answer b) FICA employers are legally required by the Federal Insurance Contribution Act of 1935 (FICA) to provide Social Security to their employees. Identifying internal and external factors that drive a company's strategies, goals, and decisions is called __________. a) forecasting b) quantitative research c) environmental scanning d) operational strategizing - Answer C) environme...

A client purchases an equity-indexed annuity contract that guarantees a 4% return or 80% of the performance of the S&P 500, whichever is greater. The index declines over the course of the next year. What return will your client receive? ☑: 4% An equity-indexed annuity guarantees the contract owner a minimum interest rate or the performance of a stock index such as the S&P 500 Index. If the return on this index is less than the guaranteed rate, the owner receives the guaranteed rate. I...

Which of the following is NOT a basic underwriting action for accident and health insurance? o :## Removing uniform policy provisions Long-term care policies will usually pay for eligible benefits to using which of the following methods o :## Expense incurred T is covered by an accidental death and dismemberment (AD&D) policy that contains an irrevocable beneficiary. What action will the insurance company take if T requests a change of beneficiary? o :## Request of the change will be refu...

Healthcare Quality Improvement and Risk Management Questions and Answers 100% Pass CHAPTER 1 - Answer- The Joint Commission Standards - Answer-1. providing leadership 2. improving organizational performance 3. information management 4. patient's rights -quality of care and legal responsibilities to do no harm Risk Management - Answer-an organized effort to identify, assess, and reduce, where appropriate, risks to patients, visitors, staff, and organizational assets -a program designe...

Over the past 10 years, an investment adviser has developed a computerized trading algorithm that produces average returns of 30% per year. To recover the costs associated with development, the adviser now plans to charge clients an annual fee equal to 25% of their average balance. An Administrator would consider this fee: Unreasonable, since past performance is not indicative of future returns Reasonable based on average results from the past Unreasonable due to the significant amount ...

AWMA Exam Practice Questions with Correct Answers What are the 4 rules in terms of investing in a small firm? - Answer-Time frame of at least 3-5 years, diversify among 20-30 different issues, avoid turnover of 30% annually, and sell if and when 40% of company's shares become owned by institutional investors. What is a characteristic of an unfunded excess benefit plan? - Answer-The plan generally need not comply with either the disclosure or reporting requirements of ERISA. Unfunded excess...

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