In Unit Linked plan, the Fund Value is a product of which of the following:
A. Gross Asset Value & Net Asset Value
B. Net Asset Value & Premium
C. Net Asset Value & Charges
D. Net Asset Value & No. of Units
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Why Pensions are said to represent the flip side of life insurance?
A. Life insurance provides protection against premature death whereas pension covers the contingency of living too long
B. In life insurance premium payments result in creation of sum assured. In case of pensions, the corpus gets liquidated by regular income payments
C. Both A & B
D. None of the above
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Public Pensions are provided by the
A. Insurance companies
B. Employers
C. Individuals
D. State
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Public Pensions are funded in the following manner:
A. Earn as you Go
B. Take as you go
C. Spend as you go
D. Pay as you go
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Which of the following is incorrect?
A. Many developed countries provide pension to alleviate poverty
B. These pensions are sufficient to maintain a modest life style
C. A & B are correct
D. None of the above
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Who provides Occupational pensions?
A. Insurance companies
B. Employers
C. Individuals
D. State
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Which is a type of Occupational pension?
A. Defined Benefit type
B. Defined contribution type
C. Both A & B
D. None of the above
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Under Defined Benefit type, the benefit payable is independent of
A. Contributions
B. Investment earnings
C. Both A & B
D. None of the above
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Quantum of pension under Defined Benefit type would depend on –
A. Accrual rate
B. Salary
C. Pensionable service
D. All of the above
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Type of Occupational pension scheme -
A. Uninsured pension scheme
B. Insured Pension scheme
C. Both A & B
D. None of the above
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A pension scheme in which the employer manages fund through a trust and pays pension thro purchase of an annuity from a life insurance company is called
A. Uninsured pension scheme
B. Insured Pension scheme
C. Both A & B
D. None of the above
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A pension scheme in which the funds are managed by the insurance company is called –
A. Uninsured pension scheme
B. Insured Pension scheme
C. Both A & B
D. None of the above
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Which type of Occupational pension has fallen into trouble in recent times:
A. Defined Benefit type
B. Defined contribution type
C. Both A & B
D. None of the above
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Employers throughout the world has migrated from _________ _________ to _________ in recent times.
A. Defined contribution to Defined Benefit
B. Defined Benefit to Defined Contribution
C. Both A & B
D. None of the above
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Defined Contribution scheme is also known as –
A. Pension purchase scheme
B. Postpone and purchase scheme
C. Switch and purchase scheme
D. Money purchase scheme
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Which one of the following is correct?
A. Under Defined Benefit scheme, pension paid was linked to investment performance of fund
B. Under Defined Contribution scheme, pension paid was not linked to investment performance of the fund
C. Both A & B
D. None of the above
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Who markets personal pension products?
A. Employers
B. IRDA
C. General Insurers
D. Life Insurers
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In a Personal pension scheme, who pays Pension to whom?
A. Pension Provider to Annuitant
B. Employer to employee
C. Government to Public
D. State to its employees
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Which one of the following is correct?
A. Amount of annuity payable is directly proportional to Length of annuity
B. Amount of annuity payable is inversely proportional to Length of annuity
C. Both have no correlation
D. I do not want to attempt this question
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The facility to withdraw 1/3rd of the accumulated amount at the time of retirement is called
A. Switching
B. Commutation
C. Taxing
D. Encashment
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