Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Human Resource
Q:
A pension plan where contributions are made solely by the employer is referred to as a:
a. contributory plan.
b. noncontributory plan.
c. defined-benefit plan.
d. defined-contribution plan.
Q:
A pension plan where contributions are made jointly by employees and employers is referred to as a:
a. contributory plan.
b. noncontributory plan.
c. defined-benefit plan.
d. defined-contribution plan.
Q:
Today, about _____ of households nearing retirement have 401(k)-type of accounts.
a. 20 percent
b. 30 percent
c. 50 percent
d. 60 percent
Q:
The decision whether a pension plan should be offered is the responsibility of the:
a. union and Department of Labor representatives.
b. employees.
c. employer.
d. Pension Benefit Guaranty Corporation.
Q:
Polaroid allows employees the opportunity to try out retirement with a leave program, or gradually reduce their work hours as they approach retirement age. This is an example of:
a. a severance leave.
b. a preretirement program.
c. family-friendly benefits.
d. policies recommended by Social Security.
Q:
A _____ is a plan in which employees fund accounts by having money deducted from their paychecks.
a. consumer-driven plan
b. healthcare spending plan
c. health reimbursement account
d. flexible spending account
Q:
In January 2008, Congress passed the __________ which amended the Family and Medical Leave Act (FLMA) to provide eligible employees working for covered employers new leave rights related to military service.
a. National Defense Authorization Act
b. Consolidated Omnibus Budget Reconciliation Act
c. Patient Protection and Affordable Care Act
d. Health Care and Education Reconciliation Act
Q:
Under the Family and Medical Leave Act (FMLA), employees are eligible to take leave if they have worked for theiremployers for at least twelve months, have at least _____ hours of service, and work inorganizations that have 50 or more employees within a 75-mile radius
a. 750
b. 1,000
c. 1,250
d. 1,500
Q:
A plan that enables an employee who is laid off to draw, in addition to state unemployment compensation, weekly benefits from the employer that are paid from a fund created for this purpose is referred to as:
a. severance pay.
b. supplemental unemployment benefits.
c. leave insurance compensation.
d. unemployment protection payments.
Q:
Beginning in 2014, firms with ____ full-time employees will be required to automatically enroll new full-time employees in their health care plans.
a. 50
b. 100
c. 200
d. 250
Q:
Federal government employees can usually be expected to be paid for ____ holidays a year.
a. 24
b. 10
c. 15
d. 20
Q:
Holiday pay, sick leave, and vacation pay are examples of:
a. payment for time not worked.
b. benefits required by law.
c. categories of health care benefits.
d. unearned benefits.
Q:
Disease management programs:
a. are comprehensive insurance benefits that serve as a supplemental health insurance.
b. assist employees by providing information on monitoring and treating health conditions.
c. assist employees as work-site fitness programs.
d. are a major portion of worker's compensation insurance.
Q:
An advantage of a health savings account is that if there are funds remaining in the account at the end of the year the money:
a. goes back to the employer, helping the employer contain costs.
b. is forfeited.
c. belongs to the employee.
d. can be withdrawn and placed in the employee's retirement account.
Q:
Beginning in 2014, firms that employ _____ or more people who work 30 or more hours per week but do not offer them health insurance will have to pay a penalty to the government.
a. 12
b. 20
c. 25
d. 50
Q:
Groups of physicians that contract with an employer to provide medical resources on a more cost-efficient basis in exchange for a greater share of patients are known as:
a. preferred provider organizations (PPOs).
b. major medical plans.
c. health maintenance organizations (HMOs).
d. integrated medical practices.
Q:
The _____ mandates that employers make health care coverage, at the same rate the employer would pay, available to employees, their spouses, and their dependents on termination of employment, death, or divorce.
a. Health Care and Education Reconciliation Act
b. Patient Protection and Affordable Care Act
c. Consolidated Omnibus Budget Reconciliation Act
d. Social Security Act
Q:
Despite its high unemployment rate, in 2011, _____ became the first state to cut the number of weeks to 20 because its unemployment fund was so far in the red.
a. Pennsylvania
b. Michigan
c. South Dakota
d. California
Q:
Organizations of physicians and other health care professionals that provide a wide range of services to subscribers on a prepaid basis are known as:
a. preferred provider organizations (PPOs).
b. major medical plans.
c. health maintenance organizations (HMOs).
d. integrated medical practices.
Q:
A portion of the payroll taxes is paid by workers and matched by their employers. In 2011, workers and their employers each paid _____ percent on every dollar of salary or wages paid.
a. 1.15
b. 1.30
c. 1.45
d. 1.60
Q:
Retired persons are eligible for Medicare at the age of:
a. 59.
b. 62.
c. 65.
d. 67.
Q:
Under the Family and Medical Leave Act, if an employee is returned to an equivalent job, rather than his/her original job, the equivalent job must have:
a. identical pay, benefits, and terms of employment.
b. terms of employment and promotional opportunity.
c. promotional opportunity and benefits.
d. identical pay, benefits, and promotional opportunity.
Q:
The Family and Medical Leave Act provides all of the following EXCEPT:
a. up to 12 weeks of unpaid leave.
b. promotions missed during leave.
c. continuation of medical benefits.
d. job protection.
Q:
The Family and Medical Leave Act:
a. applies to employers having 10 or more employees during 20 or more calendar workweeks in the current or preceding year.
b. preempts state laws under all circumstances.
c. mandates continuation of medical coverage.
d. requires the employer to provide up to 24 weeks of unpaid, job-protected leave for certain family and medical reasons.
Q:
One of the limitations of the Family and Medical Leave Act is that it only applies to companies that have ____ or more employees during 20 or more calendar workweeks in the current or preceding year.
a. 30
b. 40
c. 50
d. 60
Q:
To qualify for old-age benefits, a person must reach retirement age and have earned:
a. 20 credits.
b. 40 credits.
c. 60 credits.
d. 80 credits.
Q:
Unemployment compensation payments to individuals vary according to:
a. the type of job held before layoff.
b. their previous wage rate and length of previous employment.
c. job type and length of previous employment.
d. their previous wage rate and the type of job held before layoff.
Q:
A typical unemployment insurance program does NOTrequire that:
a. all eligible individuals must register for available work.
b. all eligible individuals must submit an application for benefits.
c. recipients must be willing to accept any job that is offered to them.
d. recipients must be willing to accept any suitable job that is offered to them.
Q:
Laid off employees who have been working in an employment covered by the Social Security Act may get unemployment insurance benefits for up to _____ weeks.
a. 20
b. 22
c. 24
d. 26
Q:
Individuals can receive Social Security benefits as early as age:
a. 58.
b. 62.
c. 65.
d. 67.
Q:
The amount of survivors' insurance benefits paid by Social Security is: a. based on the cause of death. b. based on a formula that takes into consideration the number of remaining years the deceased worker had to work until retirement. c. fixed by law and adjusted only by the cost-of-living. d. based on the worker's lifetime earnings covered by Social Security.
Q:
Tax revenues derived from Social Security pay for each of the following benefits, EXCEPT:
a. disability benefits.
b. unemployment.
c. retirement.
d. survivors' benefits.
Q:
Which of the following is NOT a benefit covered under Social Security insurance?
a. Old-age insurance benefits
b. Disability benefits
c. Short-term disability caused by a job-related accident
d. Survivors' benefits
Q:
The Social Security insurance program is funded by:
a. employer contributions.
b. Old Age, Survivors, and Disability Insurance (OASDI).
c. employee contributions with matching employer contributions.
d. employee contributions and general tax funds.
Q:
Which of the following groups of employees is NOTcovered by Social Security insurance?
a. Railroad workers
b. Clergy
c. Self-employed persons
d. Most military personnel
Q:
Which of the following benefits is NOT a legally required employee benefit?
a. Employer contributions to Social Security
b. Employer contributions to unemployment insurance
c. Employer contributions to workers' compensation insurance
d. Employer contributions to minimum life insurance
Q:
Employees desiring domestic companion benefits typically must sign:
a. a writ of Common Domestic Marriage.
b. an Affidavit of Domestic Partnership.
c. an Affidavit of Residency within their state of residence.
d. a waiver of legal liability.
Q:
A standard definition of domestic partnership includes all of the following EXCEPT:
a. a requirement that the couple live together.
b. a specification of financial interdependence.
c. a requirement that the relationship be a permanent one.
d. a minimum term of cohabitation requirement.
Q:
With a diverse workforce, more employers are willing to provide benefits to employees who establish a:
a. dual taxing relationship.
b. joint employment status.
c. codependent relationship.
d. domestic partnership.
Q:
According to the Social Security Administration, in 2014, about _____ people received retirement survivors and disability benefits from Social Security.
a. 100 million
b. 75 million
c. 60 million
d. 25 million
Q:
When communicating benefits programs to employees use:
a. correct legal language to avoid subsequent liability.
b. one, uniform method to communicate to all employees.
c. multiple media techniques.
d. graphics and presentation software to conceal unpleasant news.
Q:
Regardless of the medium, which of the following is NOT a general pointer for designing benefits information?
a. Avoid complex language when describing benefits. Clear, concise, and understandable
language is a must.
b. Explain the purpose behind a benefit and the value it offers employees. Be up front
about the pros and cons of different benefit plans.
c. Provide numerous examples to illustrate how a benefit choice might affect different
types of employees, depending upon their personal circumstances.
d. Avoid the use of graphics whenever possible to make the information understandable and prevent confusion.
Q:
Flexible benefit plans:
a. are offered to employees who then must purchase each benefit they select.
b. are favored by employers because they reduce administration costs.
c. result in wasted benefits because of the number of different types available to employees.
d. allow employees to choose benefits suited to their needs.
Q:
Which of the following is NOT a method that employers commonly use to communicate benefits to employees?
a. Brochures
b. Word-of-mouth
c. Social media
d. Blogs
Q:
The communication of employee benefits information improved significantly with the passage of the _____.
a. Employee Retirement Income Security Act
b. Social Security Act
c. Old Age, Survivors, and Disability Insurance Act
d. Consolidated Omnibus Budget Reconciliation Act
Q:
To obtain employee input regarding benefits packages, employers often use:
a. performance appraisals.
b. psychological tests.
c. union reports.
d. opinion surveys.
Q:
Online benefits systems are often referred to as _____and can result in significant cost savings in benefits administration.
a. cafeteria plans
b. value-based initiatives
c. employee self-service systems
d. high-deductible health insurance plans
Q:
_____ enable individual employees to choose the benefits that are best suited to their particular needs.
a. Employee self-service systems
b. Cafeteria plans
c. Employee wellness programs
d. Social Security plans
Q:
Which of the following represents the greatest expense to which a dollar of the employee compensation goes to in the United States?
a. Supplemental pay
b. Paid leave
c. Legally required benefits
d. Health, life, and disability insurance
Q:
Benefits can represent more than ______ of the employer's total payroll costs.
a. 28 percent
b. 7 percent
c. 12 percent
d. 66 percent
Q:
Mildly ill childcare facilities offer medical supervision in addition to traditional childcare arrangements.
a. True
b. False
Q:
A common childcare benefit offered by employers is the dependent care spending account.
a. True
b. False
Q:
Employee assistance programs (EAPs) help employees mainly with relocation costs.
a. True
b. False
Q:
Childcare, elder care, and extended leave policies are all examples of work-life benefits.
a. True
b. False
Q:
Vesting is a guarantee of accrued benefits to participants at retirement age, provided they are currently employed.
a. True
b. False
Q:
A 401(k) plan is also called a cash-balance pension plan.
a. True
b. False
Q:
A 401(k) plan transfers responsibility for investment choices to the employee.
a. True
b. False
Q:
Typically, in a 401(k) savings plan, an employer matches an employee contribution at the rate of 25 to 50 cents for every worker dollar contributed.
a. True
b. False
Q:
Companies may match employee contributions to a 401(k) with cash or company stock.
a. True
b. False
Q:
Unlike defined benefit pension plan, which guarantees nothing, the 401(k) plan guaranteespayments based on years of service. a. True b. False
Q:
In a defined-contribution pension plan, the amount an employee is to receive upon retirement is specifically set forth.
a. True
b. False
Q:
With contributory pension plans, contributions are made jointly by employers and the government.
a. True
b. False
Q:
Today, employers are required to provide pension plans to all full-time employees.
a. True
b. False
Q:
Most companies require their employees to either take their vacation days by the end of the year or forfeit them.
a. True
b. False
Q:
Research shows that workers who use their vacation time are more productive and lessprone to job-related burnout.
a. True
b. False
Q:
Paid time off for hours not worked is not mandatory in the United States.
a. True
b. False
Q:
Some firms are penalizing employees for unhealthy habits by charging them higher health care premiums for habits such as smoking.
a. True
b. False
Q:
It is not uncommon for larger companies to cut the health care plans they once provided their retirees.
a. True
b. False
Q:
Almost all workers with health coverage receive mental health benefits as part of their plans.
a. True
b. False
Q:
Supplemental unemployment benefits are not required by law and are usually funded by an employer.
a. True
b. False
Q:
Severance pay is considered a supplemental unemployment benefit.
a. True
b. False
Q:
Severance pay plans grant employees weekly benefits in addition to state unemployment compensation.
a. True
b. False
Q:
According to the "payment for time not worked" category, all workers are guaranteed at least ten paid holidays each year.
a. True
b. False
Q:
One estimate is that the "payment for time not worked" category of benefits comprises a large expenditure, which is over 25 percent of the employer's total payroll costs.
a. True
b. False
Q:
The "payment for time not worked" category of benefits includes all absences from work except sick leaves and personal leaves taken by employees.
a. True
b. False
Q:
Unlike preferred provider organizations (PPOs), where employees may have little choice in the doctor they see, health maintenance organizations (HMOs) allow employees to select their doctor of choice from a list of physicians.
a. True
b. False
Q:
Employees do not have to pay taxes on the amounts they are reimbursed under a health reimbursement account.
a. True
b. False
Q:
A preferred provider organization (PPO) is a group of physicians who establish an organization that guarantees the quality of health care provided by a health maintenance organization (HMO).
a. True
b. False
Q:
Employee costs for medical services provided by a health maintenance organization (HMO) vary according to the type of service and how often the employee needs it.
a. True
b. False
Q:
Employers pay a fixed annual fee to a health maintenance organization to cover a majority of their employees' medical costs.
a. True
b. False