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- Which of the following is a demographic assumption for purposes of applying PAS 19?A. Future salary and benefit levelsB. Future medical costs, if any, including cost of administering claims and paymentsC. Mortality both during and after employmentD. Changes in the discount rateBriefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflationWhich of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A Notice Regarding Replacement of Life Insurance or Annuity B.A Notice Regarding Insurance Producer Compensation Schedule C.A Statement of Ethical Practices D. A Comparative Information form
- With respect to employer-sponsored health insurance plans, the amount of money a covered participant must pay before health insurance benefits become active is known as which of the following? Select one: a. Premium b. Safe harbor c. Deductible d. CoinsuranceCharacterize potential sources of income available for retirement years by addressing the following: Individual Retirement Account (IRA): describe the difference between a Traditional and a Roth IRA. Indicate how each provide income for retirement and how each are funded (i.e. employee, employer, or both). If you were planning on opening an IRA, indicate which type that you would select and provide your rationale.Which of the following IRAS is a profit-sharing plan? Roth savings incentive match plan for employees simplified employee pension traditional
- Give the formula for computing a deduction for group health insuranceQuestion text In determining the present value of the prospective benefits (often referred to as the defined benefit obligation), the following are considered by the actuary: Select one: а. retirement and mortality rate. b. benefit provisions of the plan. c. all of these factors d. interest rates.Accounting for postretirement health care benefits is similar, in most respects, to accounting o O Multiple Choice O Payroll taxes. Health insurance costs for current employees. Pension benefits. Sick pay and vacation pay.
- In determining the present value of the prospective benefits (often referred to as the defined benefit obligation), the following are considered by the actuary: retirement and mortality rate. interest rates. benefit provisions of the plan. d. all of these factors.Activities of daily living (ADLs) are important in determining _____ for long-term-care insurance. Group of answer choices a. type of care b. services covered c. the waiting period d. eligibility e. benefit durationWhich component of Kensington’s periodic pension cost would be shown in OCI ratherthan P&L?A . Service costB . Net interest (income) expenseC . Remeasurements
