AVOIDING MISTAKES WITH SUPERANNUATION NOMINATION BENEFICIARY FORMS

AIA Insurance
CPD Hours:
0.50
Accreditation:
FPA 25045
ASIC Knowledge Areas:
Superannuation & Retirement
FPA CPD Area:
Regulatory Compliance & Consumer Protection
FASEA Category:
Regulatory Compliance & Consumer Protection
TPB CPE:
Yes
Availability:
1 Year
Format:
PDF
Source:
FS Super - The Journal of Superannuation Management
Supplier:
AIA Australia Limited
Pass Rate:
65%
Attempts:
2
CPD Content Questions

1. Who would be accepted as an eligible beneficiary to a member's superannuation death benefit?

A) A financially dependent father

B) The 45-year-old daughter

C) Their defacto

D) All of the above

2. One of the conditions for a binding nomination to be considered valid is:

A) it has been witnessed by a JP

B) only a SIS dependant(s) is nominated as beneficiary(ies)

C) each beneficiary's entitlement is, or can be, clearly determined

D) it is incapable of being revoked by a member any time in the future

3. If a nominated beneficiary is no longer an eligible beneficiary upon death of a superannuation fund member then:

A) the entire beneficiary nomination is automatically invalidated

B) a replacement beneficiary can be nominated if they are a SIS dependant

C) the balance of the nomination form may remain valid if fund rules permit

D) the member's entire Will becomes invalid

4. Most superannuation funds limit who can be nominated as a reversionary pensioner to individuals who are:

A) dependent children who are under 25 or permanently disabled

B) dependants under both the SIS Act and ITAA 1997

C) financially dependent upon the member

D) the current spouse including same-sex or de facto

5. Upon death of an individual who failed to have a valid Will, the administrator appointed to their estate is their LPR.

A) True

B) False

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