Exam 13: Benefit Options

Jennifer is hurt at work while driving a forklift.Her employer claims that she was injured as a result of her careless driving,and therefore she is not eligible for workers' compensation.What will be the outcome of the employer's challenge to her worker's compensation claim?

In the majority of the states,unemployment insurance is financed exclusively by:

Today,_____ percent of the workers participate in the pension plan coverage provided by their employers.

The Social Security Act has been designed and amended to provide a foundation of basic financial security for American workers and their families.

In a _____ plan,an employer agrees to provide a specific level of retirement pension,which is expressed as either a fixed dollar or a percentage-of-earnings amount that may vary (increase)with years of seniority in the company.

Medicare is not part of Social Security.

Jacob,an 18-year-old,has been working at HoldVille Corp.for over a year.If HoldVille offers full vesting after one year,which of the following statements is true?

A major problem with Social Security is a rising number of retirees without a corresponding increase in the number of contributors.

What is the central challenge of Social Security payments? How are they tackled?

Employees are the sole contributors to their cash balance plans.

Steve has a small company with 12 employees.One of his employees,Larry,has been laid off because his work has been outsourced.Larry had health coverage through Steve's company and wants to continue that coverage.According to COBRA,how long can Larry continue his coverage through Steve's company after being laid off?

Maxford Corp.offers full vesting after two years.However,it does not offer portability of pension to its employees.Which of the following statements is true in this scenario?

Data from WellPoint Inc shows that _____ percent of its 29 million customers account for over 60 percent of its medical costs.

Which of the following is a hybrid of defined benefit and defined contribution plans?

For an employee to gain lifetime coverage under Social Security,they must have worked for _____ quarters during which they were covered by the Act.

Which of the following benefits is a federally administered program?

_____ relieve an employer's liability when a pre-employment injury combines with a work-related injury to produce a disability greater than that caused by the latter alone.

Which of the following is a benefit under Social Security?

Contingent workers receive _____ benefits than regular workers;contingent workers' benefits cost _____ for employers than it does for regular workers.

The Pension Benefit Guarantee Corporation guarantees payment of vested benefits to employees formerly covered by terminated pension plans.