Question 1

You are a benefits consultant implementing for a company that offers a life Insurance plan for employees withonly one option -Employee Plus Family. The rate for this option is dependent on various factor5 likeage/smoking status/gender: 1-Z0-1053-20 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. Thecalculation is -> {Coverage* [{Rate applied as per gender/smoking status/ aqe)/1000l).How can you configure a rate for the company's plan?

Options :

A : 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.

B : Configure a secondary rate with the calculation method as Multiple of Coverage.

C : 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.

D : Configure a primary rate with the calculation method as Multiple of Coverage.

Answer: D

Question 2

A Global Dental Plan has the following options attached to it:Option 1: Employee OnlyOption 2: Employee Plus SpouseOption 3: Employee Plus Spouse Plus ChildrenThe 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 employeewas 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?

Options :

A : 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.

B : 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.

C : 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.

D : 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.

Answer: B

Question 3

A benefits consultant implemented a plan for life insurance with the following options:1. Option 1: Employee only2. Option 2: Employee plus spouseThe company wants the plan to be rolled out to all the employees. Therefore, the benefits consultant enabledthe Assign on Default button for Option 1.They forgot that some employees may not want to enroll into theplan even though they are eligible.Where did the benefits consultant go wrong with the implementation?

Options :

A : They should have created an Option 3: Coverage Declined.

B : They should not have enabled the Assign on Default button for the options.

C : They should have configured an eligibility fast formula

D : They should have enabled a plan restriction fast formula.

Answer: D

Question 4

A company offers its employees a choice of four plans within a health insurance plan type. However, thecompany wants to compulsorily enroll an employee into one plan.What must the minimum and maximum plan limit be set at Plan Type level?

Options :

A : Min = 1, Max - 1

B : Min = 1, Max = 2

C : Min = 0, Max = 1

D : Min = 0, Max = 0

Answer: B

Question 5

Which two statements are true about Enrollment Authorizations?

Options :

A : They appear several times if the participant enters self-service multiple times for a single life event.

B : If they are implemented, participants must read and accept the terms provided in the text before they are able to enroll.

C : They are optional to Implement. If implemented, performing the authorization task is mandatory for the participant.

D : They appear only the first time that the participant enters self-service enrollment for multiple life events.

E : They are optional to implement. If implemented, performing the authorization task is optional for the participant.

Answer: A,D

Smartly Prepare Exam with Free Online 1Z0-1053-24 Practice Test

Buying Options: