IC02-Chapter 5

A Group Insurance plan in which employer have to pay a certain portion along with employees is known as

• Non Contributory Insurance plan

• Contributory Insurance Plan

• Free Insurance plan

• Deduction Insurance Plan

What is the pension scheme known as when the amount of pension is known before hand

• Guranteed Benefit Pension Scheme

• Group Super annuation Scheme

• Define Contribution Scheme

• Defined Benefit Scheme

What is the pension scheme known as when the amount of pension is known before hand

• Guranteed Benefit Pension Scheme

• Group Super annuation Scheme

• Define Contribution Scheme

• Defined Benefit Scheme

What is the name of the method by which an employer pays gratuity from the current year revenues to.its employees when they leave the company?

• Internal Trust

• Pay as you go

• Internal reserve method

• Group gratuity scheme

If the investment of the funds in a gratuity scheme give a lower return than expected there can be a deficit, the burden of that will be borne by the

• Employer

• Insurance Company

• Government of India

• None of these

EDLI Stands for

• Employees dividend liability insurance

• Employees deposit liability insurance

• Employees deposit linked Insurance

• Employees dividend linked Insurance

Which of the following is a pension scheme

• Super Annuity Scheme

• Super Annuation Scheme

• EDLI

• ESLI

At the beginning of Annuity the lumpsum amount the annuitant withdraw is called as

• Annuity Withdrawal

• Partial Withdrawal

• Commutation

• Communian

Full form of GLES

• Group Leave Encashment Scheme

• Group Leave Employees Scheme

• Group Level Educational System

• Group Local Entrepreneurship scheme

Mr Sevak has purchased a life Insurance policy under which he is the 'Master Policy Holder'. This mean Mr Sevak is

• Agent

• Employer

• Employee

• Debtor