CEBS GBA 2 Life Insurance Exam Questions and Answers

list the death benefit tips provided via employee benefits - Answer-1 group term life 2 group dependent life 3 group AD&D insurance 4 group travel accident insurance 5 joint and survivor annuity benefits under retirement plans 6 preretirement annuity benefits 7 supplemental/optional life ins for employees and dependents what law mandates that survivor benefits to spouses? - Answer-ERISA and REA What is REA, retirement equity act of 1984 - Answer-provides for a preretirement survivor annuity under pension plans for surviving spouses of vested employees who die in active service ans who were not yet eligible for early retirement how does the group mechanism effect premiums - Answer-premiums are subject to experience ratings. ratings can be prospective or retro the premiums for larger groups are influenced by their own loss history. may even qualify for a credit if losses have been low how does the group mechanism effect risk - Answer-group selection is used and the entire group can be insured without medical exam or other evidence of indiv insurability