Exam 11: Employee Benefits

Benefits programs should be based on specific objectives in line with the organization's strategic compensation plan.

What considerations should an organization make in implementing an effective benefits program?

Canadian employees may retire at age 45 and begin drawing a reduced pension from CPP/QPP and other sources such as RRSPs.

Employee assistance programs and wellness programs cannot help organizations cut the costs of health care benefits.

Once extremely popular, group life insurance for employees has steadily declined in use.

Holiday pay, sick leave, and vacation pay are examples of which of the following?

In a defined contribution pension plan, the amount an employee is to receive upon retirement is specifically set forth.

Stella Vickram will receive a pension of $2,500 per month if she continues to work with ABC Media until she retires. She is now 45 years old. What type of plan is this?

Because of added expenses and complicated governmental rules, defined benefit pension plans are falling out of use.

Tommy Lee remembers his grandfather telling him how working in the coal mines was a tough job and that if you left the employer before retirement age, you did not get your pension. Which of the following applies to this type of pension?

Only employees contribute to the Employment Insurance (EI) fund.

Which of the following do employers often use to obtain employee input regarding benefits packages?

Which of the following is based on the theory that work-related accidents and illnesses should be considered as a cost of doing business and that employees should not bear the costs of their treatment?

Which of the following is NOT necessary for an organization to consider when developing its benefits program?

Many organizations use the services of professional benefits vendors to administer their benefits. What is this is a form of?

The collective bargaining agreement between ACME Inc. and the union CUPA 1003 Local requires the employer to provide a limited vision care package. Workers are demanding more. Who will determine any new package?

Which of the following types of pension plan, with fixed payouts, is falling out of use?

A key issue in the 2009 Toronto municipal workers' strike related to the use of banked sick days. Accumulation of sick days is generally regarded in the literature as which of the following?

At the present time, employers are required to provide pension plans to all full-time employees.

Legally required employee benefits amount to 12 percent of the benefits packages that Canadian employers provide. Which one of the following benefits is not required?