Exam 13: Benefits and Services

In which of the following can employers and employees deposit pretax wages to pay for non-catastrophic medical expenses?

Elizabeth works at an auto manufacturing firm that recently shut down for five weeks to change machinery. However, during the shutdown, Elizabeth was able to maintain her standard of living because of the firm's ________.

Which of the following provides a fixed sum when employees reach a predetermined retirement age or can no longer work due to disability?

What policy issues must employers address when developing benefit plans? What federal laws influence employers' pension and health plans?

Legally required benefits, such as unemployment insurance, are more costly to employers than health insurance.

Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering. One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he was with the firm. This pension plan is most likely classified as ________.

Curt works at a computer firm that is experiencing financial difficulties. In an attempt to save money and prevent layoffs, the firm is enforcing a temporary reduction in work hours for Curt's division. Curt now works 35 hours a week instead of 40. Which of the following most likely describes this situation?

Medicare provides a wide range of health services to people ________ or over.

Which of the following best explains why many businesses use employee leasing firms?

Flextime for most employees typically involves 1 hour of leeway before 9 a.m. or after 5 p.m.

What are the three types of benefits provided by Social Security?

Anne and Martha are both accountant supervisors at a large marketing firm. Anne works from 7:00 a.m. until 12:00 p.m. each day. Martha takes over the same position at 12:00 p.m. and works until 5:00 p.m. each day. Which of the following most likely describes this type of work arrangement?

What is the maximum number of weeks of unpaid leave that an employee may take under the Family and Medical Leave Act?

Which of the following provides income and medical benefits to employment-related accident victims or their dependents?

Which health benefit is offered by almost all employers?

COBRA requires most private employers to continue to make health benefits available to terminated or retired employees and their families for a period of time, generally ________ months.

Orion is a business software firm based in Atlanta that employs over 400 people. Orion has traditionally provided legislatively required benefits for its employees including Social Security, workers' compensation, and unemployment insurance. In addition, Orion offers employees health and dental insurance. Orion employees work Monday through Friday on a 9 to 5 schedule. Orion's top executives are considering the idea of adding a flexible benefits plan and implementing a flexible work schedule. Which of the following, if true, best supports the argument that Orion should offer its employees a cafeteria benefits plan?

The more flexible a work schedule, the greater the effectiveness of the program.

All of the following characterize cash balance plans EXCEPT ________.

Which of the following requires employers to treat women affected by pregnancy, childbirth, or related medical conditions the same as any employee not able to work, with respect to all benefits?