Exam 13: Benefits and Services

Employee benefits account for about one-third of wages and salaries.

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

________ seek to enable employees to balance their job and family responsibilities.

Social Security provides health benefits to terminated employees and their families for 18 months following the employee's separation from the firm.

The indirect financial and nonfinancial payments employees receive for continuing their employment with a company are called ________.

Why are family-friendly benefits and flexible benefits increasingly popular? Provide examples of both types of programs.

What are vested funds? What is the difference between cliff vesting and graded vesting?

Which of the following is LEAST likely to explain the growing percentage of part-time workers?

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

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

Which of the following provides guidelines regarding what rates of return employers should use in computing their pension plan values?

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. All of the following questions are relevant to Orion's decision to offer flextime and job sharing options to its employees EXCEPT which one?

The primary difference between health maintenance organizations and preferred provider organizations is that ________.

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

Rita was terminated from her position as an accounts manager with Carson Financial,Inc.On her last day at work,Rita received a check for $3,500.Which of the following did Rita most likely receive from Carson Financial?

Because health care coverage is one of the most expensive benefits employers provide,many employers are trying to cut costs.What are some strategies for minimizing costs associated with employee health care? How do employee leasing firms help small businesses lower their health insurance costs?

Since leaves associated with the Family and Medical Leave Act do not require employers to pay salaries,employers are not financially affected.

Which of the following is a popular workers' compensation cost-control measure that involves coordinating the medical care and health insurance coverage for each injured employee?

Nonfinancial payments like health and life insurance,pensions,time off with pay,and child care facilities are examples of ________.

Most employees in America receive fourteen days of leave after working for a company for one year.