Exam 13: Managing Employee Benefits

____ is the right of employees to receive benefits from their pension plans if they remain with their employer a certain period of time.

A 401(k)plan is an agreement in which

As director of HR of a company that does not presently use benefits administration software,you want to reduce the number of HR benefits staff.The first area of benefits administration to target would be

A pet products retail store chain has decided to offer its employees the ability to buy low-cost pet health insurance.This would be primarily a tool to attract certain types of employees to work for the company.

____ consists of approaches that monitor and reduce medical costs using restrictions and market system alternatives.

Employee benefits are a/an

Glen is excited because his new employer has a stock purchase plan.This means that

What is workers' compensation?

From the employer's point of view,two part-time employees making $12 an hour would be cheaper than one full-time employee making $12 an hour because the part-timers would not receive benefits whereas the full-time employee would receive benefits.

A system in which the employer makes contributions to each employee and the employee decides how to use this to cover his/her health-related expenses is called a/an ____ plan.

A program that combines sick leave,vacations,and holidays into a total number of hours or days that employees can take off with pay is called a/an ____ plan.

One of the main responsibilities that managers have regarding benefits administration is to

Those benefits which employers in the United States are required to provide by law are called ____ benefits.

Fifteen to twenty percent of the U.S.population does not have health insurance,many of whom are American citizens working for companies which do not provide health benefits.

All of the following are ways to reduce an organization's health insurance costs EXCEPT

A plan that allows employees to contribute pre-tax dollars to buy additional benefits is called a

The federal government mandates a minimum of two weeks severance pay for employees who are laid off due to no fault of their own.

Which of the following individuals would NOT receive benefits from the Social Security system?

Anna has been called to serve her tour of duty in Iraq as a reserve officer in the Marines.She is leaving for the war zone in 30 days.Which of the following statements is TRUE?

As director of HR you are discussing cost pressures on the company with the CEO and the CFO.Two possible options are suggested: (1)eliminating raises for employees next year or (2)reducing the health benefits for employees.The CEO and CFO ask you which reduction will cause the most dissatisfaction among employees.You say that research has implied that