Question 1

The Employee Retirement Income Security Act states that employers must offer a retirement plan to their employees if they work for at least 1,250 hours per year.

Accepted Answer

A) True 
 B)False  False

Question 2

Which of the following is NOT a benefit that is required by statutory law?

Accepted Answer

A)  Workers' compensation 
B)  Social Security 
C)  Pension and retirement benefits 
D)  Unemployment compensation 
A)  Workers' compensation 
B)  Social Security 
C)  Pension and retirement benefits 
D)  Unemployment compensation C

Question 3

Worker's compensation costs have been declining since 2005 due in part to employer safety programs.

Accepted Answer

A) True 
 B)False  True

Question 4

Under the Economic Growth and Tax Reconciliation Act of 2001,employers have three hundred vesting schedule options.

Accepted Answer

A) True 
 B)False

Question 5

A qualified deferred compensation plan offers tax advantages to employers.

Accepted Answer

A) True 
 B)False

Question 6

Roughly _____ of all employees have access to paid life insurance.

Accepted Answer

A)  three-fourths 
B)  half 
C)  one-third 
D)  a quarter 
A)  three-fourths 
B)  half 
C)  one-third 
D)  a quarter

Question 7

Explain vesting and portability.

Accepted Answer

Vesting refers to the length of time an

Question 8

Vesting refers to the length of time an employee must work for an employer before he or she is entitled to employer payments made into a pension plan.

Accepted Answer

A) True 
 B)False

Question 9

Employees prefer defined contribution (DC)plans over defined benefit plans because DC plans tend to vest faster.

Accepted Answer

A) True 
 B)False

Question 10

_____ is designed to lessen an employer's ability to deny coverage to an employee for a preexisting condition.

Accepted Answer

A)  COBRA 
B)  OSHA 
C)  HIPPA 
D)  FMLA 
A)  COBRA 
B)  OSHA 
C)  HIPPA 
D)  FMLA

Question 11

Michael was laid off by his company owing to budget cuts.Before being laid off,he earned $1,000 per week.If he has been receiving unemployment insurance benefits for 26 weeks,which of the following statements is true in this scenario?

Accepted Answer

A)  Michael can continue to avail unemployment benefits for another 26 weeks. 
B)  Michael is eligible for $1,000 per week if he can show that he has been earnestly searching for jobs. 
C)  Michael is no longer eligible for unemployment benefits. 
D)  Michael will now only be eligible for 20 percent of his previous income as unemployment benefits. 
A)  Michael can continue to avail unemployment benefits for another 26 weeks. 
B)  Michael is eligible for $1,000 per week if he can show that he has been earnestly searching for jobs. 
C)  Michael is no longer eligible for unemployment benefits. 
D)  Michael will now only be eligible for 20 percent of his previous income as unemployment benefits.

Question 12

What is a cash balance plan?

Accepted Answer

Cash balance plans are defined benefit p

Question 13

Almost _____ percent of the companies offering child care assistance to employees also offer elder care assistance.

Accepted Answer

A)  10 
B)  30 
C)  50 
D)  90 
A)  10 
B)  30 
C)  50 
D)  90

Question 14

Which of the following is a feature of defined contribution plans?

Accepted Answer

A)  They are faster to vest than defined benefit plans. 
B)  They are characterized by high contribution rates. 
C)  They are less portable than defined benefit plans. 
D)  They are fully funded by employers. 
A)  They are faster to vest than defined benefit plans. 
B)  They are characterized by high contribution rates. 
C)  They are less portable than defined benefit plans. 
D)  They are fully funded by employers.

Question 15

A _____ plan is a hybrid health plan combining the benefits of HMO and _____.

Accepted Answer

A)  point-of-service;preferred provider organization 
B)  POS;Blue Cross 
C)  managed care;POS 
D)  consolidated health;PPO 
A)  point-of-service;preferred provider organization 
B)  POS;Blue Cross 
C)  managed care;POS 
D)  consolidated health;PPO

Question 16

Experts attribute the decline in dollar cost of workers' compensation after 2005 relates to:

Accepted Answer

A)  increased variable component of base wage. 
B)  devaluation of the dollar. 
C)  employer safety programs. 
D)  relaxed federal regulations. 
A)  increased variable component of base wage. 
B)  devaluation of the dollar. 
C)  employer safety programs. 
D)  relaxed federal regulations.

Question 17

A McKinsey survey of CEOs found nearly 90 percent believe benefits are very important for attracting and retaining employees.

Accepted Answer

A) True 
 B)False

Question 18

An individual retirement account is a tax-favored retirement savings plan that individuals can establish themselves.

Accepted Answer

A) True 
 B)False

Question 19

What is the first question that should be asked when determining the amount of retirement income an employer should provide?

Accepted Answer

A)  Should Social Security payments be factored in when considering the level of income an employee should have during retirement? 
B)  How should seniority be factored into the payout formula? 
C)  What level of retirement compensation would the employer like to set as a target,expressed in relation to pre-retirement earnings? 
D)  Should other postretirement income sources be integrated with the pension payment? 
A)  Should Social Security payments be factored in when considering the level of income an employee should have during retirement? 
B)  How should seniority be factored into the payout formula? 
C)  What level of retirement compensation would the employer like to set as a target,expressed in relation to pre-retirement earnings? 
D)  Should other postretirement income sources be integrated with the pension payment?

Question 20

Employers who have frequent layoffs pay higher tax rates than those with few layoffs.

Accepted Answer

A) True 
 B)False

The Employee Retirement Income Security Act states that employers must offer a retirement plan to their employees if they work for at least 1,250 hours per year.

Which of the following is NOT a benefit that is required by statutory law?

Worker's compensation costs have been declining since 2005 due in part to employer safety programs.

Under the Economic Growth and Tax Reconciliation Act of 2001,employers have three hundred vesting schedule options.

A qualified deferred compensation plan offers tax advantages to employers.

Roughly _____ of all employees have access to paid life insurance.

Explain vesting and portability.

Vesting refers to the length of time an employee must work for an employer before he or she is entitled to employer payments made into a pension plan.

Employees prefer defined contribution (DC)plans over defined benefit plans because DC plans tend to vest faster.

_____ is designed to lessen an employer's ability to deny coverage to an employee for a preexisting condition.

Michael was laid off by his company owing to budget cuts.Before being laid off,he earned $1,000 per week.If he has been receiving unemployment insurance benefits for 26 weeks,which of the following statements is true in this scenario?

What is a cash balance plan?

Almost _____ percent of the companies offering child care assistance to employees also offer elder care assistance.

Which of the following is a feature of defined contribution plans?

A _ plan is a hybrid health plan combining the benefits of HMO and _.

Experts attribute the decline in dollar cost of workers' compensation after 2005 relates to:

A McKinsey survey of CEOs found nearly 90 percent believe benefits are very important for attracting and retaining employees.

An individual retirement account is a tax-favored retirement savings plan that individuals can establish themselves.

What is the first question that should be asked when determining the amount of retirement income an employer should provide?

Employers who have frequent layoffs pay higher tax rates than those with few layoffs.

The Pay Model

Strategy: The Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Designing Pay Levels, Mix, and Pay

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters

Exam 13: Benefit Options

The Employee Retirement Income Security Act states that employers must offer a retirement plan to their employees if they work for at least 1,250 hours per year.

Which of the following is NOT a benefit that is required by statutory law?

Worker's compensation costs have been declining since 2005 due in part to employer safety programs.

Under the Economic Growth and Tax Reconciliation Act of 2001,employers have three hundred vesting schedule options.

A qualified deferred compensation plan offers tax advantages to employers.

Roughly _____ of all employees have access to paid life insurance.

Explain vesting and portability.

Vesting refers to the length of time an employee must work for an employer before he or she is entitled to employer payments made into a pension plan.

Employees prefer defined contribution (DC)plans over defined benefit plans because DC plans tend to vest faster.

_____ is designed to lessen an employer's ability to deny coverage to an employee for a preexisting condition.

Michael was laid off by his company owing to budget cuts.Before being laid off,he earned $1,000 per week.If he has been receiving unemployment insurance benefits for 26 weeks,which of the following statements is true in this scenario?

What is a cash balance plan?

Almost _____ percent of the companies offering child care assistance to employees also offer elder care assistance.

Which of the following is a feature of defined contribution plans?

A _____ plan is a hybrid health plan combining the benefits of HMO and _____.

Experts attribute the decline in dollar cost of workers' compensation after 2005 relates to:

A McKinsey survey of CEOs found nearly 90 percent believe benefits are very important for attracting and retaining employees.

An individual retirement account is a tax-favored retirement savings plan that individuals can establish themselves.

What is the first question that should be asked when determining the amount of retirement income an employer should provide?

Employers who have frequent layoffs pay higher tax rates than those with few layoffs.

The Pay Model

Strategy: The Totality of Decisions

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Designing Pay Levels, Mix, and Pay

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters

A _ plan is a hybrid health plan combining the benefits of HMO and _.