Exam 6: Employer-Sponsored Disability Insurance, life Insurance, and Workers Compensation

Both discretionary short-term and long-term disability plans sometimes duplicate public disability benefits mandated by state workers' compensation laws and the Social Security Act.(Disability Insurance)

Free

(True/False)

4.9/5

(89)

Question 1

Correct Answer:

Verified

True

The values in the current Uniform Table were adjusted to reflect higher rates of mortality between 1988 and 2000.(Costs of Group Term Life Insurance)

Free

(True/False)

5.0/5

(75)

Question 2

Correct Answer:

Verified

False

What are the main characteristics of long-term disability insurance? (Long-Term Disability Insurance Programs)

Free

(Essay)

4.9/5

(72)

Question 3

Correct Answer:

Verified

Main Points
● Full benefits usually equals 50% to 70% of monthly pay (subject to a maximum)and the monthly maximum may be as high as $5,000
● Benefits are subject to a waiting period of anywhere from 6 months to one year
● Benefits usually only become active after an employee's sick leave and short-term disability benefits have been exhausted
● Benefits payments usually continue until retirement or for a specified number of months

Although workers' compensation benefits have unlimited medical care benefits,it does specify a maximum amount paid for certain procedures.(Unlimited Medical Care)

(True/False)

4.8/5

(66)

Question 4

According to ADA guidelines,which of the following is true? (Relationships between Company-Sponsored Disability Plans and Benefits Laws)

(Multiple Choice)

4.7/5

(78)

Question 5

Prior to the enactment of workers' compensation laws,injured employees could choose not to pursue compensation,or they could file a lawsuit.List and briefly define the three common-law defenses that employers could mount to earn liability.

(Essay)

4.8/5

(68)

Question 6

Prior to the 1960s,establishment funds provided minimal cash payments to workers who became occupationally ill or injured.(Origins of Disability Insurance and Workers' Compensation Insurance)

(True/False)

4.8/5

(81)

Question 7

Short-term disability insurance plans usually consider disability as an inability to perform any and every duty on one's occupation.(Short-Term Disability Insurance Programs)

(True/False)

4.8/5

(89)

Question 8

In 2015,on average,employers spent how much annually per employee to provide life insurance coverage? (Coverage and Costs of Life Insurance)

(Multiple Choice)

4.8/5

(73)

Question 9

Universal life insurance has less flexibility than whole life insurance.(Types of Life Insurance Programs)

(True/False)

4.8/5

(61)

Question 10

If a company is participating in workers' compensation programs and complying with applicable regulations,injured employees cannot bring a legal suit against them under any conditions.(Employers' Rights under Workers' Compensation Programs)

(True/False)

4.9/5

(92)

Question 11

In 2015,employers generally paid $700 annually per private sector employee for workers' compensation protection.(Cost of Workers' Compensation Insurance)

(True/False)

4.8/5

(74)

Question 12

Under partial self-funding of disability insurance,employers pay claims from their assets invested in a trust fund,for a limited period or up to a maximum dollar amount.(Funding Disability Insurance Programs)

(True/False)

4.8/5

(60)

Question 13

Most long-term disability insurance plans pay how much after a waiting period of how long? (Long-Term Disability Insurance Programs)

(Multiple Choice)

4.7/5

(86)

Question 14

This amendment contains the equal benefit or equal cost principle and bans termination of an employee's long-term disability benefits for active employees based on age.(Relationships between Company-Sponsored Disability Plans and Benefits Laws)

(Multiple Choice)

4.8/5

(72)

Question 15

Most short-term disability insurance plans pay employees around how much of their regular pay? (Short-Term Disability Insurance Programs)

(Multiple Choice)

4.9/5

(77)

Question 16

This is a mental or physical disability for which medical advice,diagnosis,care or treatment was received,during a designated period preceding the beginning of disability insurance coverage.(Short-Term Disability Insurance Programs)

(Multiple Choice)

4.9/5

(72)

Question 17

One of every twenty employees will have a disability that lasts at least 90 days.(Disability Insurance)

(True/False)

4.8/5

(83)

Question 18

US companies offered life insurance to what percentage full time employees in 2015? (Coverage and Costs of Life Insurance)

(Multiple Choice)

4.7/5

(85)

Question 19

In short-term disability insurance plans,this term refers to the minimum amount of time an employee must wait after becoming disabled before disability insurance payments begin.(Short-Term Disability Insurance Programs)

(Multiple Choice)

4.9/5

(64)

Question 20

Showing 1 - 20 of 63

Both discretionary short-term and long-term disability plans sometimes duplicate public disability benefits mandated by state workers' compensation laws and the Social Security Act.(Disability Insurance)

The values in the current Uniform Table were adjusted to reflect higher rates of mortality between 1988 and 2000.(Costs of Group Term Life Insurance)

What are the main characteristics of long-term disability insurance? (Long-Term Disability Insurance Programs)

Although workers' compensation benefits have unlimited medical care benefits,it does specify a maximum amount paid for certain procedures.(Unlimited Medical Care)

According to ADA guidelines,which of the following is true? (Relationships between Company-Sponsored Disability Plans and Benefits Laws)

Prior to the enactment of workers' compensation laws,injured employees could choose not to pursue compensation,or they could file a lawsuit.List and briefly define the three common-law defenses that employers could mount to earn liability.

Prior to the 1960s,establishment funds provided minimal cash payments to workers who became occupationally ill or injured.(Origins of Disability Insurance and Workers' Compensation Insurance)

Short-term disability insurance plans usually consider disability as an inability to perform any and every duty on one's occupation.(Short-Term Disability Insurance Programs)

In 2015,on average,employers spent how much annually per employee to provide life insurance coverage? (Coverage and Costs of Life Insurance)

Universal life insurance has less flexibility than whole life insurance.(Types of Life Insurance Programs)

If a company is participating in workers' compensation programs and complying with applicable regulations,injured employees cannot bring a legal suit against them under any conditions.(Employers' Rights under Workers' Compensation Programs)

In 2015,employers generally paid $700 annually per private sector employee for workers' compensation protection.(Cost of Workers' Compensation Insurance)

Under partial self-funding of disability insurance,employers pay claims from their assets invested in a trust fund,for a limited period or up to a maximum dollar amount.(Funding Disability Insurance Programs)

Most long-term disability insurance plans pay how much after a waiting period of how long? (Long-Term Disability Insurance Programs)

This amendment contains the equal benefit or equal cost principle and bans termination of an employee's long-term disability benefits for active employees based on age.(Relationships between Company-Sponsored Disability Plans and Benefits Laws)

Most short-term disability insurance plans pay employees around how much of their regular pay? (Short-Term Disability Insurance Programs)

This is a mental or physical disability for which medical advice,diagnosis,care or treatment was received,during a designated period preceding the beginning of disability insurance coverage.(Short-Term Disability Insurance Programs)

One of every twenty employees will have a disability that lasts at least 90 days.(Disability Insurance)

US companies offered life insurance to what percentage full time employees in 2015? (Coverage and Costs of Life Insurance)

In short-term disability insurance plans,this term refers to the minimum amount of time an employee must wait after becoming disabled before disability insurance payments begin.(Short-Term Disability Insurance Programs)

Introducing Employee Benefits

The Psychology and Economics of Employee Benefits

Regulating Employee Benefits

Employer-Sponsored Retirement Plans

Employer-Sponsored Health-Care Plans

Government-Mandated Social Security Programs

Paid Time-Off and Flexible Work Schedule Benefits

Accommodation and Enhancement Benefits

Managing the Employee-Benefits System

Nonqualified Deferred Compensation Plans for Executives

Global Employee Benefits at a Glance

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