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1. You are a benefits consultant implementing for a company that offers a life Insurance plan for employees with only one option -Employee Plus Family. The rate for this option is dependent on various factor5 like age/smoking status/gender:
A female employee in the under 40 age group, who is a smoker, wants to purchase $100,000 of life insurance. The plan would be 2.1 (100,000 * 0.21/1000), considering 5100,000 is the coverage she opts for. The calculation is -> {Coverage* [{Rate applied as per gender/smoking status/ aqe)/1000l). How can you configure a rate for the company's plan?
A) Configure a secondary rate with the calculation method as Multiple of Coverage.
B) Configure a primary rate with the calculation method as Multiple of Coverage.
C) Configure an eligibility profile with age-derived factors. Attach it to the plan. Then create a standard fate with the calculation method as Multiple of Coverage.
D) Configure a fast formula calling this table. Configure a secondary standard rate with the calculation method as Formula. Then create another standard rate with type and the calculation method aS Multiple of Parent.
2. A company has XX Fusion Benefits Program with seven different plans attached to it. They have gone live with benefits data in three production instances. The company wants to run enrollment for executives and send the data for internal discussion. How can the benefits admin perform this task?
A) Create a default life event for this task XX Admin Life event. Attach it to the plan. Then trigger the life event and enroll into a
B) Create a default life event for this task XX Admin Life event. Create a separate eligibility profile. Then enroll the first of executives into a sample data and send the summary reports to the company.
C) Create a default life event for this task XX Admin Life event. Create a benefit group listing all the executives. Create an eligibility profile with this group and attach it to the program. Then trigger the life event and enroll into a sample data, and send the summary reports to the company.
3. Given that premiums are calculated on a monthly basis in accordance with the most common business of benefit suppliers.
What can you define so that participants who are covered by a plan for less than a full have no premium obligation?
A) Standard Rate Value
B) Standard Coverage Volume
C) Standard input Value
D) Standard wash Rule formula
4. The company has the following two plans:
1. Life Insurance Plan with Option 1: Employee only and Option 2: Employee Plus Family
2. Medical Insurance Plan with Option 1: Employee only. Option 2: Employee Plus Spouse, and Option 3: Employee Plus Spouse Plus Child The company wants to automatically enroll salaried employees into Medical Insurance Option 3: Employee plus Spouse plus Child, if the employee has enrolled into Life Insurance Plan Option 2: Employee Plus family.
Which is the correct configuration for this scenario?
A) Configure the eligibility profile with parameter Person Type > Employee and Employment tab > Salaried or Hourly as Salaried and attach this to both the plans.
B) Configure the eligibility profile with parameter - Person Type > Employee and Employment tab > Salaried or Hourly as Salaried. Related coverage > Eligible for another plan and attach this to both the plans..
C) Configure the eligibility profile with parameter- Employment tab > Salaried or Hourly as Salaried and attach this to both the plans.
D) Configure the eligibility profile with parameter - Personal > Person Type > Employee and Employment tab > Salaried o. Hourly as Salaried" Related coverage > Eligible in another option in plan and attach this to both the plans.
5. A company offers a benefits plan to its employees that includes:
1) Health coverage plan for employee and family
2) Top up health coverage plan at extra premium
3) Life insurance plan for employee and family
4) In Network Dental Insurance plan
5) Out of network Dental insurance plan
6) Eye care plan
How many plan types do you need to configure for this customer?
A) 5
B) 4
C) 3
D) 6
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: C |
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