GBA 3 / RPA 1 Practice Exam Questions and Answers (Solved Papers) A person's Social Security primary insurance amount (PIA) is... - Correct Answers ✅The worker's monthly retirement benefit at full retirement age When an employee takes an international assignment, the employee might be given "tax protection" which refers to... - Correct Answers ✅Reimbursing the employee only in the event he or she pays higher taxes as a result of the international assignment A global trend taking place in defined contribution plans is... - Correct Answers ✅Greater reliance on plans with default investments A Department of Labor audit quality study showed the percentage of employee benefit plan audits that had "Unacceptable-Major" deficiencies that adversely affected audit quality. The percentage is... - Correct Answers ✅40% A Social Security totalization agreement might be involved when an employee takes an international assignment. The purpose of the agreement is... - Correct Answers ✅The agreement provides relief from dual social security coverage and taxation under both systems and integrates or synchronizes the benefits earned under more than one system. 1 / 4
GBA 3 / RPA 1 Practice Exam Questions and Answers (Solved Papers) The cost of an administrative claims audit in a self-funded health plan typically will be... - Correct Answers ✅Less than 1% of total annual claim spending The Federal Trade Commission (FTC) case against a medical transcription services company dealt with the exposure of personal medical information. According to the FTC, the settlement in this case demonstrated... - Correct Answers ✅That companies must be held to high standards with regard to third-party vendor management and oversight when it involves personal information The Supreme Court case that made it difficult to argue that an Employee Retirement Income Security Act plan should not have a contractual limitations period of certain requirements are met - Correct Answers ✅Heimeshoff v. Hartford Life & Accident Insurance Company Skilled nursing facility benefits under Medicare Part A are provided only if the beneficiary has had a hospitalization of at least __ days - Correct Answers ✅Three days What coverage is provided by "Medigap" insurance policies? - Correct Answers ✅Medigap covers health care service charges, such as copayments, coinsurance and deductibles, not covered by Medicare Parts A and B. 2 / 4
GBA 3 / RPA 1 Practice Exam Questions and Answers (Solved Papers) At a minimum, if there have been no material changes in the plan, the Employee Retirement Income Security Act requires employers to prepare and distribute new Summary Plan Descriptions to participants at least every __ years - Correct Answers ✅10 Provider network contracts of an administrative services (ASO) agreement for a self-funded health plan allow a limited time period for recovering claims that were identified as overpaid. This time period is usually... - Correct Answers ✅One year Form 5500 and other financial reports statutorily must be kept for a minimum of __ years after the filing date - Correct Answers ✅Six Leaders in the data analytics industry developed a Healthcare Analytics Adoption Model that has a number of levels of analytics adoption that an organization passes through as it gains sophistication in using its data to drive improvement. In this model, what is the highest level of sophistication? - Correct Answers ✅Personalized medicine and prescriptive analytics Approximately how many individuals are working in occupations covered by Social Security? - Correct Answers ✅9 out of 10 workers 3 / 4
GBA 3 / RPA 1 Practice Exam Questions and Answers (Solved Papers) Which benefit may not be offered in a cafeteria plan? - Correct Answers ✅403(b) elective deferrals What is the highest rate at which Social Security benefits can be taxed, depending on the person's income and tax bracket?
- Correct Answers ✅85%
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What best describes whether the attorney-client privilege is applicable in the area of employee benefits plans? - Correct Answers ✅As a general rule, it applies; however, courts have increasingly recognized that an exception may exist in communications involving fiduciary activities.The maximum premium that can be paid for a qualified longevity annuity contract is the lesser of an indexed statutory amount or... - Correct Answers ✅25% of a participant's aggregate account balance Plan fiduciaries must understand the core difference between "active" and "passive" investment strategies. What best describes the difference? - Correct Answers ✅Passive funds typically seek to match the performance of an index of securities, while active funds attempt to outperform the market.How much are the civil penalties imposed by the Employee Retirement Income Security Act against certified public