Question 1

Defined-benefit plans must meet the funding requirements of the _____.

Accepted Answer

A)   Employee Retirement Income Security Act
B)   Consolidated Omnibus Budget Reconciliation Act
C)   Social Security Act
D)   Patient Protection and Affordable Care Act
E)   Sarbanes-Oxley ActF) All of the above
G) None of the above

Question 2

Social Security is formally known as the _____.

Accepted Answer

A)   paid leave program
B)   New Deal program
C)   Old Age, Survivors, Disability, and Health Insurance program
D)   employee wellness program
E)   noncontributory planF) B) and E)
G) B) and D)

Question 3

Employers in the U.S.are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Accepted Answer

A) True 
 B)False

Question 4

The guarantee that when employees become participants in a pension plan and work a specified number of years,they will receive a pension at retirement age,regardless of whether they remained with the employer is referred to as _____.

Accepted Answer

A)   special drawing rights
B)   quid pro quo
C)   laissez-faire
D)   benchmarking
E)   vesting rightsF) C) and E)
G) C) and D)

Question 5

Which of the following is a difference between PPOs and HMOs?

Accepted Answer

A)   PPOs provide benefits at a reduced fee rather than on a prepaid basis as in HMOs.
B)   HMO employees are not required to use only preselected plan service providers, as in PPOs.
C)   PPOs are less expensive plans than HMOs if the employee goes out of the PPO network.
D)   HMOs have more in common with traditional fee-for-service plans than do PPOs.
E)   Unlike HMOs, payments to PPO physicians are made on a flat salary basis.F) All of the above
G) B) and D)

Question 6

Workers are eligible for unemployment benefits if they:

Accepted Answer

A)   voluntarily quit a job.
B)   are out of work due to health reasons.
C)   were discharged for cause.
D)   are actively seeking work.
E)   are out of work because of a labor dispute.F) None of the above
G) A) and C)

Question 7

Active employee wellness programs:

Accepted Answer

A)   rely on employees to identify and obtain the services they need.
B)   are health education programs that provide information and services, but no formal support or motivation to use the program
C)   have not been successful in reducing risk factors associated with cardiovascular disease.
D)   assume that behavior change requires not only awareness and opportunity, but support and reinforcement.
E)   cost less than passive wellness programs.F) None of the above
G) A) and B)

Question 8

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called:

Accepted Answer

A)   preferred provider plans.
B)   cafeteria-style plans.
C)   pay-or-play plans.
D)   flexible spending accounts.
E)   cash balance plans.F) A) and C)
G) B) and D)

Question 9

In which of the following areas are unemployment insurance benefits and workers' compensation benefits similar?

Accepted Answer

A)   Both these programs are funded by the federal taxes on employees.
B)   Both these costs depend on the organization's experience ratings.
C)   The funding costs of both these programs are same across the states.
D)   Both the programs replace the same percentage of an individual's previous earnings.
E)   The amount of compensation provided to the employees is fixed under both the programs.F) D) and E)
G) C) and D)

Question 10

Which of the following options can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Accepted Answer

A)   Use more independent contractors rather than hire additional employees.
B)   Limit the coverage on life insurance, based upon the employee's age.
C)   Use more full-time rather than part-time employees.
D)   Recruit new employees instead of demanding overtime from the existing employees.
E)   Substitute HMO and PPO plans with traditional health insurance plans.F) C) and E)
G) None of the above

Question 11

What are flexible benefit plans? What are their advantages and disadvantages?

Accepted Answer

Organizations can address differences in...

Question 12

Which of the following benefits required by law provides coverage according to state requirements?

Accepted Answer

A)   Paid leave
B)   Medical care
C)   Sick leave
D)   Workers' compensation insurance
E)   Social SecurityF) A) and C)
G) A) and B)

Question 13

Employers that offer medical insurance must meet the requirements of the _____.

Accepted Answer

A)   Employee Retirement Income Security Act of 1974
B)   Family and Medical Leave Act of 1993
C)   Social Security Act of 1935
D)   Sarbanes-Oxley Act of 2002
E)   Consolidated Omnibus Budget Reconciliation Act of 1985F) D) and E)
G) C) and D)

Question 14

Employees and job applicants often have a poor idea of what benefits they have and what the market value of their benefits is.

Accepted Answer

A) True 
 B)False

Question 15

The funds required by an organization to pay retirement benefits are reported as _____ in the financial statement.

Accepted Answer

A)   current assets
B)   current liabilities
C)   accounts receivable
D)   bad debt
E)   future cost obligationsF) A) and B)
G) B) and E)

Question 16

Employers that offer medical insurance must meet the requirements of the _____.

Accepted Answer

A)   Employee Retirement Income Security Act
B)   Consolidated Omnibus Budget Reconciliation Act
C)   Glass-Steagall Act
D)   Patient Protection and Affordable Care Act
E)   Sarbanes-Oxley ActF) B) and D)
G) A) and B)

Question 17

Health maintenance organizations charge patients half the fee for each visit and service.

Accepted Answer

A) True 
 B)False

Question 18

A _____ pension plan allows pension benefits for key employees,such as highly paid managers,to exceed a government-specified share of total pension benefits.

Accepted Answer

A)   top-heavy
B)   multiemployer
C)   special draw rights
D)   deferred
E)   defined-contributionF) B) and D)
G) C) and E)

Question 19

The unemployment insurance program is financed largely through federal and state taxes on:

Accepted Answer

A)   both employees and employers.
B)   employers only.
C)   employees only.
D)   retirees.
E)   only high income group of citizens.F) B) and E)
G) D) and E)

Exam 13: Providing Employee Benefits

Social Security is formally known as the _____.

Correct Answer
verified

Employees and job applicants often have a poor idea of what benefits they have and what the market value of their benefits is.

Correct Answer
verified

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called:

Correct Answer
verified

The funds required by an organization to pay retirement benefits are reported as _____ in the financial statement.

Correct Answer
verified

Active employee wellness programs:

Correct Answer
verified

Health maintenance organizations charge patients half the fee for each visit and service.

Correct Answer
verified

The unemployment insurance program is financed largely through federal and state taxes on:

Correct Answer
verified

What are flexible benefit plans? What are their advantages and disadvantages?

Correct Answer
verified
Organizations can address differences in...
View Answer

Employers in the U.S.are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Correct Answer
verified

Which of the following benefits required by law provides coverage according to state requirements?

Correct Answer
verified

Which of the following options can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Correct Answer
verified

The guarantee that when employees become participants in a pension plan and work a specified number of years,they will receive a pension at retirement age,regardless of whether they remained with the employer is referred to as _____.

Correct Answer
verified

In which of the following areas are unemployment insurance benefits and workers' compensation benefits similar?

Correct Answer
verified

Defined-benefit plans must meet the funding requirements of the _____.

Correct Answer
verified

Workers are eligible for unemployment benefits if they:

Correct Answer
verified

Employers that offer medical insurance must meet the requirements of the _____.

Correct Answer
verified

Which of the following is a difference between PPOs and HMOs?

Correct Answer
verified

Employers that offer medical insurance must meet the requirements of the _____.

Correct Answer
verified

A _____ pension plan allows pension benefits for key employees,such as highly paid managers,to exceed a government-specified share of total pension benefits.

Correct Answer
verified

Exam 13: Providing Employee Benefits

Social Security is formally known as the _____.

Correct AnswerverifiedShow Answer

Employees and job applicants often have a poor idea of what benefits they have and what the market value of their benefits is.

Correct AnswerverifiedShow Answer

Benefit plans that permit employees to choose the types and amounts of benefits they want from a set of alternatives are called:

Correct AnswerverifiedShow Answer

The funds required by an organization to pay retirement benefits are reported as _____ in the financial statement.

Correct AnswerverifiedShow Answer

Active employee wellness programs:

Correct AnswerverifiedShow Answer

Health maintenance organizations charge patients half the fee for each visit and service.

Correct AnswerverifiedShow Answer

The unemployment insurance program is financed largely through federal and state taxes on:

Correct AnswerverifiedShow Answer

What are flexible benefit plans? What are their advantages and disadvantages?

Correct AnswerverifiedOrganizations can address differences in...View AnswerShow Answer

Employers in the U.S.are legally required to provide 30 days of paid vacation to both new and existing employees every year.

Correct AnswerverifiedShow Answer

Which of the following benefits required by law provides coverage according to state requirements?

Correct AnswerverifiedShow Answer

Which of the following options can be legally adopted by organizations looking to restructure the workforce to minimize the expense of benefits?

Correct AnswerverifiedShow Answer

The guarantee that when employees become participants in a pension plan and work a specified number of years,they will receive a pension at retirement age,regardless of whether they remained with the employer is referred to as _____.

Correct AnswerverifiedShow Answer

In which of the following areas are unemployment insurance benefits and workers' compensation benefits similar?

Correct AnswerverifiedShow Answer

Defined-benefit plans must meet the funding requirements of the _____.

Correct AnswerverifiedShow Answer

Workers are eligible for unemployment benefits if they:

Correct AnswerverifiedShow Answer

Employers that offer medical insurance must meet the requirements of the _____.

Correct AnswerverifiedShow Answer

Which of the following is a difference between PPOs and HMOs?

Correct AnswerverifiedShow Answer

Employers that offer medical insurance must meet the requirements of the _____.

Correct AnswerverifiedShow Answer

A _____ pension plan allows pension benefits for key employees,such as highly paid managers,to exceed a government-specified share of total pension benefits.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified
Organizations can address differences in...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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