Exam 11: Employee Benefits

To reflect the social changes Canada is facing, employers are increasingly tailoring their benefits programs to be family-friendly.

In Canada, the higher the household income, the lower the retirement age.

The growth in health care costs can be attributed to a number of factors, including the greater need for health care by an aging population.

Great Parcel Inc. has numerous office locations across Canada, including isolated areas with no access to the Internet. Which of the following would be the most efficient way to communicate a new benefit to all its employees?

The declining cost of health care benefits provides Canadian organizations opportunities to reduce employee benefit costs.

Canada has experienced a growth in the proportion of part-time workers (versus full-time) over the past decade. Which of the following is a key reason for this growth?

The Meat Shop, one of Canada's best employers according to a recent survey, is considering ways to contain its rising benefits costs. Which of the following is NOT a wise option?

A primary objective of most benefits programs is to increase turnover.

Bob Jones has just been permanently laid off from his present position. His company, ACME Manufacturing, has issued Bob a cheque that represents one month's pay for every year Bob worked at ACME. What is this cheque?

Bob Jindal works for RAY Vision Inc. The employer deducts money every month from his paycheque for his pension plan. RAY Vision matches this amount for his pension. What type of plan is this?

Child-care, elder-care and extended leave policies are all examples of employee services.

Employee benefits are a form of indirect compensation.

Approximately one-third of Canadians have elder-care responsibilities.

Which of the following is NOT a benefit of family-friendly programs?

Flexible benefits plans are also known as "cafeteria" plans.

Employer health plans are generally restricted to medical, surgical, and hospital expenses.

Severance pay is a one-time payment to employees who have been terminated.

Polaroid allows employees the opportunity to try out retirement with a leave program, or gradually reduce their work hours as they approach retirement age. This is an example of which of the following?

Once employees have two years of service, they are considered, in terms of their pension fund, fully vested and locked-in.

Susie Jones has definite preferences in terms of the benefits offered by her employer. Susie will be able to select the benefits she values highly and avoid those she does not need or want if her employer offers which benefit format?