Question 1

In the context of benefits,which of the following is true of the demographics of a workforce?

Accepted Answer

A)  Young employees are more concerned about medical coverage.
B)  Young employees are more concerned about life insurance.
C)  Young,unmarried men often have more interest in benefits.
D)  Young,unmarried women have less interest in high salary and wages.
E)  Women of childbearing age care more about disability leave.

Question 2

Create a talking point outline for an upcoming presentation that explains the advantages and disadvantages of defined benefit and defined contribution plans.

Accepted Answer

A defined benefit plan guarantees a spec...

Question 3

Alex knows that he no longer needs to sue his employer for workers' compensation because the law now covers job-related

Accepted Answer

A)  pay raises.
B)  policy changes.
C)  quality-linked incentives.
D)  injuries and death.
E)  tax benefits.

Question 4

The ________ tax rate is the percentage of additional earnings that goes to taxes.

Accepted Answer

A)  marginal
B)  net
C)  gross
D)  incremental
E)  maximum

Question 5

Which of the following is true of the methods used for communication about benefits information?

Accepted Answer

A)  Online tools are not effective for personalized communications to individual employees.
B)  Online tools have increased the need for benefits-related jobs in an organization.
C)  Providing clear benefits communication does not always increase employee satisfaction.
D)  Written benefits will reach all working citizens as they are all literate.
E)  Cafeteria plans limit employees' awareness and appreciation of what an employer provides.

Question 6

Which of the following is a major category of workers' compensation?

Accepted Answer

A)  Sustainability income
B)  Death-of-spouse benefits
C)  Rehabilitative services
D)  Housing care
E)  Pension services

Question 7

What factors should be considered when thinking about cost control strategies?

Accepted Answer

It is useful to consider three factors w...

Question 8

The ________ guarantees payment to employees of a basic retirement benefit in the event that financial difficulties force a company to terminate or reduce employee pension benefits.

Accepted Answer

A)  Employee Benefits Security Administration
B)  Pension Benefit Guaranty Corporation
C)  Employees' Compensation Appeals Board
D)  Bureau of Labor Statistics
E)  Equal Employment Opportunity Commission

Question 9

Which of the following is true about Social Security retirement benefits?

Accepted Answer

A)  Benefits are subject to federal income tax.
B)  An earnings test exists for those beneficiaries aged 50 and under.
C)  Currently,an earnings test is required for those who have reached retirement age.
D)  Benefits are entirely free from state income tax throughout the United States.
E)  An earnings test increases a person's incentive to retire.

Question 10

Andrea knows that there are several employees getting ready to retire in the next 5 years.She is tasked with presenting budget implications to the board of directors.As the HR benefits specialist,how will you explain the financial accounting statement (FAS)106?

Accepted Answer

Financial Accounting Statement (FAS)106,...

Question 11

Group insurance rates are typically lower than individual rates because

Accepted Answer

A)  risks cannot be pooled together in group insurance.
B)  group insurance does not cover permanent disabilities.
C)  of economies of scale.
D)  it is exempt from taxes.
E)  group insurance lacks guaranteed coverage.

Question 12

Typhanie was injured at work.When she went to the doctor,she was told that she would need surgery,followed by time in a rehabilitation facility and then months of physical therapy.Typhanie was surprised to learn that worker's compensation does not cover her time in the rehabilitation facility.

Accepted Answer

A) True 
 B)False

Question 13

Investment returns on qualified retirement funds are taxed.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is true of the cost to the employer for workers' compensation?

Accepted Answer

A)  The premium for high-risk occupations is lower than the premium for low-risk occupations.
B)  The premium is the same,no matter which state the firm is located in,if the injury is the same.
C)  The compensation mostly covers minor injuries such as sprains and strains,rather than dramatic injuries.
D)  The compensation does not cover the cost of rehabilitation services.
E)  The experience rating system primarily induces employees to take precautions at work.

Question 15

After Olivia has worked for her company for 10 years,she will have ________ to a pension upon retirement,according to the Employee Retirement Income Security Act (ERISA) .

Accepted Answer

A)  vesting rights
B)  portability rights
C)  transfer rights
D)  fiduciary rights
E)  funding rights

Question 16

Which type of retiree benefits plan is excluded from the Financial Accounting Statement 106 rule that states benefits should not be provided on a pay-as-you-go basis?

Accepted Answer

A)  Health care
B)  Pension
C)  Life insurance
D)  Stock ownership
E)  Disability insurance

Question 17

Insurance risks can be more easily pooled in smaller groups.

Accepted Answer

A) True 
 B)False

Question 18

After an illness,Andy is now unable to work and will receive disability pay.He assumes that this pay will be similar to unemployment insurance and will be taxed.Is he correct?

Accepted Answer

A) True 
 B)False

Question 19

Which of the following types of benefits involves the highest of costs?

Accepted Answer

A)  Legally required benefits
B)  Medical and other insurance
C)  Retirement and savings plan
D)  Payment for time not worked
E)  Supplemental pay

Question 20

Which of the following is true of passive employee wellness programs (EWPs) ?

Accepted Answer

A)  They have large outreach programs aimed at individuals.
B)  They provide ongoing employee support to motivate them to use the available resources.
C)  Health education programs are an example of passive EWPs.
D)  They do not include structural changes such as having a fitness facility for employees.
E)  They include tailored programs with counselors guiding individuals.

Exam 13: Employee Benefits

Typhanie was injured at work.When she went to the doctor,she was told that she would need surgery,followed by time in a rehabilitation facility and then months of physical therapy.Typhanie was surprised to learn that worker's compensation does not cover her time in the rehabilitation facility.

Correct AnswerverifiedShow Answer

The ________ guarantees payment to employees of a basic retirement benefit in the event that financial difficulties force a company to terminate or reduce employee pension benefits.

Correct AnswerverifiedShow Answer

Create a talking point outline for an upcoming presentation that explains the advantages and disadvantages of defined benefit and defined contribution plans.

Correct AnswerverifiedA defined benefit plan guarantees a spec...View AnswerShow Answer

Which of the following is true of the cost to the employer for workers' compensation?

Correct AnswerverifiedShow Answer

Which of the following is a major category of workers' compensation?

Correct AnswerverifiedShow Answer

The ________ tax rate is the percentage of additional earnings that goes to taxes.

Correct AnswerverifiedShow Answer

What factors should be considered when thinking about cost control strategies?

Correct AnswerverifiedIt is useful to consider three factors w...View AnswerShow Answer

Investment returns on qualified retirement funds are taxed.

Correct AnswerverifiedShow Answer

Which of the following is true about Social Security retirement benefits?

Correct AnswerverifiedShow Answer

Andrea knows that there are several employees getting ready to retire in the next 5 years.She is tasked with presenting budget implications to the board of directors.As the HR benefits specialist,how will you explain the financial accounting statement (FAS)106?

Correct AnswerverifiedFinancial Accounting Statement (FAS)106,...View AnswerShow Answer

Which type of retiree benefits plan is excluded from the Financial Accounting Statement 106 rule that states benefits should not be provided on a pay-as-you-go basis?

Correct AnswerverifiedShow Answer

Group insurance rates are typically lower than individual rates because

Correct AnswerverifiedShow Answer

After an illness,Andy is now unable to work and will receive disability pay.He assumes that this pay will be similar to unemployment insurance and will be taxed.Is he correct?

Correct AnswerverifiedShow Answer

Insurance risks can be more easily pooled in smaller groups.

Correct AnswerverifiedShow Answer

Which of the following is true of the methods used for communication about benefits information?

Correct AnswerverifiedShow Answer

Which of the following types of benefits involves the highest of costs?

Correct AnswerverifiedShow Answer

Which of the following is true of passive employee wellness programs (EWPs) ?

Correct AnswerverifiedShow Answer

In the context of benefits,which of the following is true of the demographics of a workforce?

Correct AnswerverifiedShow Answer

Alex knows that he no longer needs to sue his employer for workers' compensation because the law now covers job-related

Correct AnswerverifiedShow Answer

After Olivia has worked for her company for 10 years,she will have ________ to a pension upon retirement,according to the Employee Retirement Income Security Act (ERISA) .

Correct AnswerverifiedShow Answer

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A defined benefit plan guarantees a spec...
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Correct Answer
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It is useful to consider three factors w...
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Correct Answer
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Correct Answer
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Correct Answer
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Financial Accounting Statement (FAS)106,...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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