Online Access Free 1Z1-1053 Practice Test

Which is NOT a valid type of life event?

• A.Scheduled
• B.Unrestricted
• C.Temporal
• D.Restricted
• E.Explicit

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 primary rate with the calculation method as Multiple of Coverage.
• B.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.
• C.Configure a secondary rate with the calculation method as Multiple of Coverage.
• D.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.

When you add an open scheduled event to a program of plans not in the program, what is the significance or the Assigned Life Event Date?

• A.It is the date on which default benefits assignments are made.
• B.It is the effective date of the open event and the date on which eligibility is evaluated.
• C.It Is the last day of the open enrollment period.
• D.It is the first day of the open enrollment period.

An organization has a scheduled open period for Life Insurance plan from January 1st to the 31st. The important dates defined while configuring the scheduled open life event are:
1) Enrollment Period Start Date - January 1, 201/
2) Enrollment Period End Date - January 31, 2017
3) Assign Defaults Date - January 31, 2017
4) Assigned Life Event Date - January 15, 2017
5) Coverage Start Date - Latest of elections, event or notified
The batch process to assign the open life event was run effective December 28, 2016. An employee makes an election on January 22, 2017.
What is the coverage start date for this employee?

• A.January 15, 2017
• B.December 28, 2016
• C.January 31, 2017
• D.January 22, 2017

A Global Dental Plan has the following options attached to it:
Option 1: Employee Only
Option 2: Employee Plus Spouse
Option 3: Employee Plus Spouse Plus Children
The company wants an employee to select only one option which will be restricted for two years. After two
/ears the employee will get an opportunity to enroll into a new Global Dental Plan. For example, an employee was hired on July 23, 2015 and enrolled into the plan. The employee cannot make a new selection until July 2i,
2017 as the plan is restricted.
How can you configure this scenario for the company?

• A.Configure a New hire with the addition of child and Marriage life events to the Global Dental Plan with an enrollment period start date as of event date. Configure the limitation to minimum 2 years at all three option levels. Then configure a person selection formula type with the logic of creating an enrollment opportunity every 2 years.
• B.Configure a New hire life event to the Global Dental Plan with an enrollment period start date as of event date. Then configure the limitation to minimum 2 years at the plan tab.
• C.Configure a New hire with the addition of child and Marriage life events to the Global Dental plan with an period start date as of event data. Configure the limitation to minimum 2 years at all three option levels.
• D.Configure a New hire with the addition of child and Marriage life events to the Global Dental Plan with an enrollment period1 date as Formula, Configure the limitation to minimum 2 years at the plan tab.