Question 1

Michael was laid off by his company owing to budget cuts.Before being laid off, he earned $1,000 per week.If he has been receiving unemployment insurance benefits for 26 weeks, which of the following statements is true in this scenario?

Accepted Answer

A) Michael can continue to avail unemployment benefits for another 26 weeks. 
B) Michael is eligible for $1,000 per week if he can show that he has been earnestly searching for jobs. 
C) Michael is no longer eligible for unemployment benefits. 
D) Michael will now only be eligible for 20 percent of his previous income as unemployment benefits.

Question 2

Under the Economic Growth and Tax Reconciliation Act of 2001, employers have three hundred vesting schedule options.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following types of workers are generally NOT covered by workers' compensation?

Accepted Answer

A) State government employees 
B) Private sector employees 
C) Railroad workers 
D) Farm workers

Question 4

A health maintenance organization (HMO) pulls together a group of providers willing to provide services at an agreed upon rate in exchange for employers:

Accepted Answer

A) limiting employees to these providers for health services. 
B) paying 30 percent of employee salary to the HMO. 
C) laying off all contingent workers who are not eligible for insurance. 
D) providing free child care assistance to employees.

Question 5

Employers who have frequent layoffs pay higher tax rates than those with few layoffs.

Accepted Answer

A) True 
 B)False

Question 6

What is the purpose of the HIPAA?

Accepted Answer

The answer of What is the purpose of the HIPAA?...

Question 7

An individual retirement account is a tax-favored retirement savings plan that individuals can establish themselves.

Accepted Answer

A) True 
 B)False

Question 8

What is the central challenge of Social Security payments? How are they tackled?

Accepted Answer

The answer of What is the central challenge of Social...

Question 9

Which of the following is NOT a benefit that is required by statutory law?

Accepted Answer

A) Workers' compensation 
B) Social Security 
C) Pension and retirement benefits 
D) Unemployment compensation

Question 10

The Employee Retirement Income Security Act states that employers must offer a retirement plan to their employees if they work for at least 1,250 hours per year.

Accepted Answer

A) True 
 B)False

Question 11

A major problem with Social Security is a rising number of retirees without a corresponding increase in the number of contributors.

Accepted Answer

A) True 
 B)False

Question 12

Workers' compensation is covered by federal laws.

Accepted Answer

A) True 
 B)False

Question 13

Contingent workers receive _____ benefits than regular workers; contingent workers' benefits cost _____ for employers than it does for regular workers.

Accepted Answer

A) more; less 
B) fewer; more 
C) more; more 
D) fewer; less

Question 14

Almost _____ percent of the companies offering child care assistance to employees also offer elder care assistance.

Accepted Answer

A) 10 
B) 30 
C) 50 
D) 90

Question 15

What is a cash balance plan?

Accepted Answer

The answer of What is a cash balance plan?...

Exam 13: Benefit Options

Michael was laid off by his company owing to budget cuts.Before being laid off, he earned $1,000 per week.If he has been receiving unemployment insurance benefits for 26 weeks, which of the following statements is true in this scenario?

Under the Economic Growth and Tax Reconciliation Act of 2001, employers have three hundred vesting schedule options.

Which of the following types of workers are generally NOT covered by workers' compensation?

A health maintenance organization (HMO) pulls together a group of providers willing to provide services at an agreed upon rate in exchange for employers:

Employers who have frequent layoffs pay higher tax rates than those with few layoffs.

What is the purpose of the HIPAA?

An individual retirement account is a tax-favored retirement savings plan that individuals can establish themselves.

What is the central challenge of Social Security payments? How are they tackled?

Which of the following is NOT a benefit that is required by statutory law?

The Employee Retirement Income Security Act states that employers must offer a retirement plan to their employees if they work for at least 1,250 hours per year.

A major problem with Social Security is a rising number of retirees without a corresponding increase in the number of contributors.

Workers' compensation is covered by federal laws.

Contingent workers receive _ benefits than regular workers; contingent workers' benefits cost _ for employers than it does for regular workers.

Almost _____ percent of the companies offering child care assistance to employees also offer elder care assistance.

What is a cash balance plan?