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Oracle 1Z0-1053-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Reporting on Benefits | - Benefit reporting basics - Enrollment results and extracts - Extract and transmit data to plan carriers |
| Configuring Benefits | - Create benefit plans, programs, groups and eligibility profiles - Enrollment display and configuration - Plan types and options configuration - Configure life events |
| Administering Benefits | - Flex credits and coverage/rates management - Manage enrollments & service center tasks - Common administrative tasks - Prepare and manage open enrollment |
| Benefits Billing and Court Orders | - Configure benefits billing - Manage benefit court orders |
Oracle Benefits Cloud 2021 Implementation Essentials Sample Questions:
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 primary rate with the calculation method as Multiple of Coverage.
- C. Configure a secondary rate with the calculation method as Multiple of Coverage.
- D. 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.
Correct Answer: B 🗳️
XX Lifeinsurance plan has two options: Option 1 enrolls a dependent of age 21 or above and Option 2 enrolls a dependent aged 18 or less.
How do you define a benefit configuration for these two options?
- A. Create one derived factor. Create an eligibility profileand configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan.
- B. Create one derived factor. Create an eligibility profile and configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance plan at Option 1, and then attach the same eligibility profile at Option 2.
- C. Create two eligibility profiles. One with age as 21 or above and a second with age 18 or less. Then attach these eligibility profiles to XX Life Insurance Plan.
- D. Create two derived factors, one with age as 21 or above and a second with age 18 or less. Create an eligibility profile and configure these two derived factors under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan
Correct Answer: C 🗳️
Which is NOT a valid type of life event?
- A. Explicit
- B. Unrestricted
- C. Temporal
- D. Restricted
- E. Scheduled
Correct Answer: D 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
To which two benefits objects can Year Period be attached to?
- A. Program
- B. Plan Type
- C. Plan
- D. Option
Correct Answer: B,D 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
The reinstatement rule enables you to restore elections during which two events?
- A. The intervening life event activated the open event.
- B. The open event was accidentally backed out.
- C. The open event was backed out by the administrator from the Benefits Service Center.
- D. An intervening life event backed out the open event.
Correct Answer: B,D 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
