Oracle Oracle Benefits Cloud 1Z0-1053-22 Questions & Answers

• Question 51:

  A benefits administrator processed an enrollment for one employee, and manually added the life event "XYZ" as of August 1, 2016. Since there were two more life events in the detected phase as of August 15, 2016, the benefits administrator clicked "Collapse Life Event". Upon processing the life event tab, the benefits administrator received an error saying two or more life events were in the detected phase.

  Why did the collapsing rule fail?

  A. The number of proximity days was specified as 20.

  B. The number of proximity days was specified as 0.

  C. The life event had expired.

  D. The number of proximity days was specified as 15.

  Correct Answer: D

• Question 52:

  Can you define overspending of a budget pool in flex credit shell plans?

  A. Yes, you can define it in the spending options.

  B. Yes, you can define it in the standard rates.

  C. Yes, you can define it as per the flex credit formula.

  D. No, you do not have aplace holder.

  Correct Answer: A

• Question 53:

  Which statement about configuring Designation Requirements is true?

  A. A Designation Requirement can be configured for a plan with no option.

  B. A plan must have multiple options for Designation Requirement to be configured.

  C. A plan must have the waive option for Designation Requirement to be configured.

  D. A Designation Requirement cannot be configured for a plan with no option.

  Correct Answer: B

• Question 54:

  Which statement about Waive options is true?

  A. Waive options are options into which employees ate compulsorily enrolled in case they do not complete the requited action items like certification, entering date of birth, etc.

  B. Waive options are used so that employees can explicitly decline enrollment opportunities for which they are otherwise eligible.

  C. Waive options are options which do not require any dependent/beneficiary designation.

  D. Waive options are used when employeesdo not get an enrollment opportunity because they do not qualify for the required eligibility criteria.

  Correct Answer: B

• Question 55:

  Given that premiums are calculated on a monthly basis in accordance with the most common business of benefit suppliers.

  What can you define so that participants who are covered by a plan for less than a full have no premium obligation?

  A. Standard Rate Value

  B. Standard Coverage Volume

  C. Standard input Value

  D. Standard wash Rule formula

  Correct Answer: C

• Question 56:

  The benefits administrator runs an open enrollment window on March 1,2017 for Program:

  XX Life Insurance, but cannot find the life event date of March 15, 2017.

  What could be a reason for this?

  A. The life event date configured for XX Life Program is not 15 March 2017

  B. There is no configuration for open enrollment for theXX Life Program.

  C. A cycle has already run for open enrollment, so no life event date is available.

  D. The benefits administrator has a login from the previous date to that of 15 March 20l7.

  Correct Answer: D

• Question 57:

  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 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.

  Correct Answer: D

• Question 58:

  What rate is used for the flex creditprogram to adjust the total cost of the program?

  A. Standard Primary Rate

  B. Standard Rollover Rate

  C. Rollover Rate

  D. Standard Secondary Rate

  Correct Answer: C

• Question 59:

  A benefits consultant implemented a plan for life insurance with the following options:

  1.

  Option 1: Employee only

  2.

  Option 2: Employeeplus spouse

  The company wants the plan to be rolled out to all the employees. Therefore, the benefits consultant enabled the Assign on Default button for Option 1.They forgot that some employees may not want to enroll into the plan even though they

  are eligible.

  Where did the benefits consultant go wrong with the implementation?

  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.

  Correct Answer: D

• Question 60:

  An employee logs into the self-service page. The employee enters into one plan and makes an election in the plan available. While making electrons, the employee notices that the option's rate amount isn't displayed in the total summary section on the right side of the page.

  Which is a reason for this problem?

  A. The rate activity type for payroll information is configured as cost.

  B. The rate activity type for payroll information is configured as employee contribution.

  C. The rate is configured as secondary rate and not primary rate.

  D. The rate is inactive.

  Correct Answer: D