CEBS - GBA 1 - Practice Exam|
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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? - 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? - Answer✅✅It is a mathematical process that removes
anomalies that should not appear in the mortality data
If the plan sponsor pays the premium, which of the following group insured benefits
is taxable to the plan member? - Answer✅✅Long-term disability (LTD)
Which of the following statements correctly describes phases of a group plan
marketing? - Answer✅✅Plan features of both contributory and noncontributory
benefit plans must be communicated to plan members during the enrollment
process
, Which of the following statements correctly describes a characteristic of an
insurable risk? - Answer✅✅The loss must have financial significance to the insured
(The loss must not be catastrophic to the insurer. Option C: The loss must occur by
chance. Option D: The loss must be predictable for the insurer.)
With respect to marketing a group insurance plan, which of the following
statements best describes insurer representatives known as account executives? -
Answer✅✅They are involved in enrolling group members and installing new plans
Which of the following statements correctly describes the statistical concept known
as the law of large numbers? - Answer✅✅Future probabilities of loss are not valid
unless a large number of incidents exist to ensure the outcomes are less likely to
deviate
Which of the following statements correctly describes an insured plan that is
insurer-administered? - Answer✅✅For self-insured plans with an administrative
services only (ASO) arrangement, the insurer bills the plan sponsor monthly for
administration fees
If the probability that an individual will live one year is 0.95 and the probability of
dying in the following year is 0.10, what is the probability that an individual will
survive both years? - Answer✅✅0.855 (P (Survive both years) = (0.95) x (1 - 0.1) =
0.95 x 0.90 = 0.855.)
Which of the following statements correctly describes the group benefits enrollment
process for new employees? - Answer✅✅An employee can enroll in the plan any
time between his or her date of hire and the end of a waiting period
A type of service offered under a third-party administrators (TPAs) claims
settlement only arrangement is: - Answer✅✅Adjudicating and paying claims
Unless otherwise specified in the group insurance contract, a plan member's status
under a group benefits plan terminates the earliest at which: - Answer✅✅The plan
member retires (Unless otherwise specified in the group insurance contract, the
order in which coverage terminates is effective the earliest date the plan member
retires, the plan member's service with the plan sponsor is terminated, the plan
member ceases active work, and the plan member is no longer a member of an
eligible class and premium payments stop.)
Which of the following statements correctly describes eligibility requirements under
most group insurance plans? - Answer✅✅Unmarried children under a specified age
and dependent on the plan member for support are eligible for coverage
Which of the following statements correctly describes the negotiated placement
method of marketing a group benefits plan? - Answer✅✅Once potential insurers
are identified, each company submits a brief report that highlights its general
strategy, philosophy and proposed group benefits plan
Brand New Exam Questions with
100% Correct Clear Verified
Answers| All Graded A+|Latest
Premium Update 2026 |100%
Guaranteed Success.
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? - 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? - Answer✅✅It is a mathematical process that removes
anomalies that should not appear in the mortality data
If the plan sponsor pays the premium, which of the following group insured benefits
is taxable to the plan member? - Answer✅✅Long-term disability (LTD)
Which of the following statements correctly describes phases of a group plan
marketing? - Answer✅✅Plan features of both contributory and noncontributory
benefit plans must be communicated to plan members during the enrollment
process
, Which of the following statements correctly describes a characteristic of an
insurable risk? - Answer✅✅The loss must have financial significance to the insured
(The loss must not be catastrophic to the insurer. Option C: The loss must occur by
chance. Option D: The loss must be predictable for the insurer.)
With respect to marketing a group insurance plan, which of the following
statements best describes insurer representatives known as account executives? -
Answer✅✅They are involved in enrolling group members and installing new plans
Which of the following statements correctly describes the statistical concept known
as the law of large numbers? - Answer✅✅Future probabilities of loss are not valid
unless a large number of incidents exist to ensure the outcomes are less likely to
deviate
Which of the following statements correctly describes an insured plan that is
insurer-administered? - Answer✅✅For self-insured plans with an administrative
services only (ASO) arrangement, the insurer bills the plan sponsor monthly for
administration fees
If the probability that an individual will live one year is 0.95 and the probability of
dying in the following year is 0.10, what is the probability that an individual will
survive both years? - Answer✅✅0.855 (P (Survive both years) = (0.95) x (1 - 0.1) =
0.95 x 0.90 = 0.855.)
Which of the following statements correctly describes the group benefits enrollment
process for new employees? - Answer✅✅An employee can enroll in the plan any
time between his or her date of hire and the end of a waiting period
A type of service offered under a third-party administrators (TPAs) claims
settlement only arrangement is: - Answer✅✅Adjudicating and paying claims
Unless otherwise specified in the group insurance contract, a plan member's status
under a group benefits plan terminates the earliest at which: - Answer✅✅The plan
member retires (Unless otherwise specified in the group insurance contract, the
order in which coverage terminates is effective the earliest date the plan member
retires, the plan member's service with the plan sponsor is terminated, the plan
member ceases active work, and the plan member is no longer a member of an
eligible class and premium payments stop.)
Which of the following statements correctly describes eligibility requirements under
most group insurance plans? - Answer✅✅Unmarried children under a specified age
and dependent on the plan member for support are eligible for coverage
Which of the following statements correctly describes the negotiated placement
method of marketing a group benefits plan? - Answer✅✅Once potential insurers
are identified, each company submits a brief report that highlights its general
strategy, philosophy and proposed group benefits plan
