CEBS GBA Study guides, Class notes & Summaries

CEBS GBA EXAM 2 TEST RATED 100% CORRECTCEBS GBA EXAM 2 TEST RATED 100% CORRECT

CEBS GBA Exam 2: Questions and answers, rated A+ What is the basic assumption underlying concept of a free market and how is it challenged by the theory of "bounded rationality?" (Mod 1.1) - Assumption that rational customers will make informed decisions about value, quality and price, while producers who meet consumer's demands will be rewarded with market share and profit. However this is challenged by the consumer's "bounded rationality" - rational consumer is only functional...

CEBS GBA Exam 1(EXAM AND CORRECT ANSWERS 2024)100%

CEBS - GBA 1 AND 2- PRACTICE EXAM QUESTIONS AND ANSWERS 2024 WITH COMPLETE SOLUTION Which of the following statements correctly describes minimum requirements that group benefit plans typically must meet in order to be prospectively rated on contract renewal? Ans- The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements Which of the following statements correctly describes the term graduation as it applies to mortality tables?...

CEBS GBA2 Terms and Definitions Exam Questions and Answers Bounded Rationality - Answer-When the consumer is functional only up to a certain point after which his/her choices are constrained or bound by limed knowledge and understanding of the available choices. Free Market Basic Assumption - Answer-Rational consumers will make informed decisions about value, quality, and price Moral Hazzard - Answer-Consumer will spend someone else's money different than their own Transparency on...

CEBS GBA1 Exam Questions with Correct Answers Predictive Modeling and Risk Assessment - Answer-A cost containment practice that analyzes claims data and identifies high risk potentially high cost members and intervenes to avoid preventable cost Performance Measurement - Answer-A cost containment practice that collects data after the fact via a provider assessments, reports, and claims data Case Management - Answer-Cost containment that uses a manager to coordinate members care in collabor...

CEBS GBA Module 1 Exam Questions and Answers All Correct Fringe Benefits - Answer-Addition of benefits as an offset to higher labor Broad View - Answer-"Virtually any form of compensation other than direct wages" Limited (Narrow) View - Answer-Benefits that stem from an employment relationship, not underwritten or paid for directly by the government Reasons for growth in Employee Benefit Plans - Answer-Business, tax legislation, collective bargaining, efficiency of the approach ...

CEBS GBA Exam 3 Questions with Correct Answers An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - Answer-1) There must be a plan, fund or program. 2) The plan, fund or program is established or maintained by an employer. 3) The plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise. 4) Benefits are provided to participants and beneficiaries. Explain how a "plan, fund or...

CEBS GBA Exam 2 Questions with Correct Answers What is the basic assumption underlying concept of a free market and how is it challenged by the theory of "bounded rationality?" (Mod 1.1) - Answer-Rational customers will make informed decisions about value, quality and price, while producers who meet consumer's demands will be rewarded with market share and profit. What are economic benefits of a free market? (Mod 1.1) - Answer-If an individual does not like their provider or health plan, ...

CEBS GBA Exam 1 Questions with Correct Answers Broad view of Employee Benefits (Mod 1.1) - Answer-Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - Answer-Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits...

CEBS GBA 2 Practice Exam Questions and Answers All Correct According to the RAND Health Insurance Experiment, which variable has the greatest power in explaining health expenditures? A.) Welfare eligibility B.) Prior utilization C.) Physical health (based on self-reported measures) D.) General health (based on self-reported measures) E.) Mental health (based on self-reported measures) - Answer-B.) Prior utilization A provision in some group life insurance plans that provides f...