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CEBS: GBA/RPA 3 (new curriculum) QUESTIONS WITH ALL CORRECT ANSWERS!!
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CEBS: GBA/RPA 3 (new curriculum) QUESTIONS WITH ALL CORRECT ANSWERS!!
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Name: Score:207 Multiple choice questions
Definition 1 of 207
Often in a tax haven, this company seconds the EE to the host jurisdiction ER
Operational Compliance
Passive investment funds
Special Service Company
Accumulation Unit Value
Term 2 of 207
3 (21) arrangement
The best way to eliminate and reduce errors in benefit plan operations
illegal use of property of funds of another person for one's own use or other unauthorized
purpose
Prescription drug coverage. Has the greatest cost variation of any plan
Rendering of investment advice for a fee or other compensation
Term 3 of 207
Shares issued by mutual funds
Primarily through mandatory payroll tax
21 common HR problems
redeemable shares
visualization layer
,Term 4 of 207
GMR Transportation Services, Inc Case
The FTC concluded that GMR's failure to adequately choose, contract with, and oversee a
data service provider constituted an unfair and deceptive trade practice
Intrusive and harmful software is stored on an external drive that is inserted into and
executed on a network computer
Process of inspecting, cleaning, and modeling data with the goal of discovering trends,
patterns and other useful information to support decision making.
Document to a client from an independent qualified public accountant
Definition 5 of 207
An important component of plan governance
Investment committee charter
Employee welfare plans not covered under ERISA
Plans exempt from ERISA
Operational plan audits
Term 6 of 207
Disadvantage of using a special service company
Documents must be legible, accurate, and reproducible
Accounting, Operations, and Upper Management
EE can no longer participate in home benefit plans
Extra associated costs of developing the company
,Definition 7 of 207
A type of funds that may outperform the market
Claims payment audits
Active Investment funds
Individual Equity
Target Date Funds
Term 8 of 207
Amount Needed for one credit
Under Secure 2.0, $200,000 indexed to cost of living in 2024
7.65% on wages up to the social security TWB
Only DC plans
$1,510
Term 9 of 207
Type of plans eligible for QLACs
Only DC plans
Social Security, personal savings, employer pensions
United States
Part B and D
, Term 10 of 207
Number of skilled nursing facility days under Medicare
A trend towards greater simplicity in plans
21 common HR problems
Clinical Risk Intervention and Predictive Analytics
Limited to 100 days per benefit period
Term 11 of 207
Nondiscrimination Requirements Under ACA
ASO. Contracted by plan sponsors in a self funded plan. Often either a TPA or insurance
carrier.
Nondiscrimination requirements that that plan does not favor highly compensated
employees
Summary plan description. Summary of material modification. Written plan document.
Obligate to assess and negotiate plan fees. Responsible for creation and maintenance of
IPS policy statement
Term 12 of 207
Passive investment funds
Payments to cover higher cost of living in host jurisdiction
May be performed in conjunction with a primary claims audit.
A type of fund that seeks to match an index of securities
Similar to loaning an employee to host jurisdiction
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