Q-11- Under Group insurance large scope of flexibility for coverage of specific needs of
- insurers only
- employers only
- employees only
- both employers and employees
Option-4 Under Group insurance large scope of flexibility for coverage of specific needs of both employers and employees.
Q-12- Group Gratuity Scheme is a combination of
- term assurance and group health
- term assurance and group pension
- term assurance and group accidental
- term assurance and pure endowment
Option-4 Group Gratuity Scheme is a combination of term assurance and pure endowment.
Q-13- An Actuary uses _______information for predict __________period.
- past, future
- past, present
- available, future
- available, present
Option-1 Actuaries uses past information and experiences for predict future periods.
Q-14- Employee Deposit Linked Insurance scheme(EDLI) was introduced w.e.f
- 1st August, 1975
- 1st August, 1976
- 15th August 1975
- 15th August 1976
Option-2 Employee Deposit Linked Insurance scheme(EDLI) was introduced w.e.f. 1st August,1976.
Q-15- What is the minimum amount on NPS subscriber is required to contribute at the time of account opening under tier-I account
- ₹250
- ₹500
- ₹1000
- ₹2000
Option-3 AA subscriber has to make minimum of ₹500 at the time of opening of Tier-I account under NPS.
Q-16- In which of the following arrangements does the employer mae regular payments, a percentage of salary into a pension fund, and the fund is used to buy a pendion when employee retires?
- Defined benefit scheme
- Employee stock Option plan
- Defined contribution scheme
- Voluntary retirement scheme
Option-3 In Defined contribution schemes th employer makes regular payments.
Q-17- which of the following statement is incorrect regarding Group Insurance
- the underwriting unit is the group of lives
- Evidence of health is essential in Group Insurance
- Group Insurance implies the contract covring a group of lives
- The premium ratesof a group Scheme are adjusted periodical
Option-3 There is no evienAll above are the examples of Insurable charges.
Q-18- For Group Term Insurance products with other than single premium payment products, the policy term shall not be less than
- 1 year
- 5 years
- 7 years
- 10 years
Option-2 For Group Term Insurance products with othr than single premium payment products, the policy term shall not be less than 5 years.
Q-19- Except for one year renewable group products, all single premium group term insurance products, the policy term shall not be less than
- 1 year
- 2 years
- 3 years
- 4 years
Option-2 Except for one year renewable group products, all single premium group term insurance products, the policy term shall not be less than 2 years.
Q-20- Except for Single premium payment products, the premium paying term for all long term group products shall not be less than
- 1 year
- 5 years
- 7 years
- 10 years
Option-2 Except for Single premium payment products, the premium paying term for all long term group products shall not be less than 5 years.
These Insurance GK questions are based on Group insurance, actuary function under different policies in form of Insurance quiz and answers.