Question 1

MATCHING KEY TERMS AND DEFINITIONS
-Membership-based, nonfinancial rewards offered to attract and keep employees.

Accepted Answer

A)  Summary Plan Description
B)  Defined contribution plan
C)  Health Maintenance Organization
D)  Flexible benefits
E)  Workers' compensationF) Domestic partner benefitsG) Legally required benefitsH) Unemployment compensationI) Social SecurityJ) PPOK) Employee benefitsL) ERISAM) Consumer driven health plan (CDHP) N) Flexible spending accountsO) Defined benefit plan

Question 2

Lizzie has employer-provided health insurance.She makes a small contribution toward the cost of insurance but pays for most of her expenses every year because her insurance plan has a $5,000 deductible.To offset the out-of-pocket costs, she contributes through payroll deduction to a savings account that she can use to cover the out-of-pocket costs.Her employer also contributes to this savings account.Which type of plan does Lizzie have?

Accepted Answer

A)  HIPPA
B)  HMO
C)  PPO
D)  COBRA
E)  CDHP

Question 3

Defined benefit pension plans pay a specific amount of money to qualified employees, usually for the rest of the employee's life.

Accepted Answer

A) True 
 B)False

Question 4

The __________ provides for continued employee benefits up to three years after an employee leaves a job.

Accepted Answer

Consolidated Omnibus...

Question 5

ERISA spells out employer requirements for employee health insurance benefits.

Accepted Answer

A) True 
 B)False

Question 6

Which legally required benefit is paid for by the employer and the employee?

Accepted Answer

A)  Unemployment compensation
B)  Family and Medical Leave Act (FML
A)  
C)  Social Security
D)  The Consolidated Omnibus Budget Reconciliation Act (COBR
A)  
E)  Worker's compensation

Question 7

Which is NOT true about The Patient Protection and Affordable Care Act:

Accepted Answer

A)  Was passed by Congress in 2010.
B)  Has faced numerous challenges in Congress and in the courts.
C)  Expanded employer responsibility by requiring many employers to offer health insurance benefits to employees.
D)  Requires protections for adoptive parents in the workplace.
E)  Provides workplace protections for nursing mothers for up to a year after the birth of a child.

Question 8

MATCHING KEY TERMS AND DEFINITIONS
-Benefits offered to an employee's "live-in" partner.

Accepted Answer

A)  Summary Plan Description
B)  Defined contribution plan
C)  Health Maintenance Organization
D)  Flexible benefits
E)  Workers' compensationF) Domestic partner benefitsG) Legally required benefitsH) Unemployment compensationI) Social SecurityJ) PPOK) Employee benefitsL) ERISAM) Consumer driven health plan (CDHP) N) Flexible spending accountsO) Defined benefit plan

Question 9

All of the following statements about workers' compensation are accurate EXCEPT:

Accepted Answer

A)  Workers' compensation is counted as part of labor expenses due to the accountability factor.
B)  Cost of workers' compensation is shared between the employee and the employer.
C)  Workers' compensation benefits are based on fixed schedules of minimum and maximum payments.
D)  Some states allow employers to self-insure for workers' compensation.
E)  Some states provide a required insurance system for handling workers' compensation.

Question 10

An employer's worker compensation insurance rates are determined by their history of accidents, similar to car insurance rates.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following NOT true of Social Security?

Accepted Answer

A)  It provides health insurance through Medicare.
B)  Employees and employers both contribute 6.2 percent of employee earnings.
C)  Employees can earn up to 40 credits a year.
D)  Those born in 1960 and later don't receive full benefits until they turn 67.
E)  Dependents of workers who have died are eligible.

Question 12

Which of the following is NOT true regarding Social Security?

Accepted Answer

A)  Social Security provides a source of income for American retirees, disabled workers, and surviving dependents of workers who have died.
B)  Social Security provides some health insurance coverage through the federal Medicare program.
C)  Social Security is financed only by the employer contributions.
D)  To be eligible for Social Security, employees must be employed for a minimum of 40 quarters.
E)  Social Security benefits vary based on the previous year's inflation, additional earnings, and recipient age.

Question 13

If an employee is unable to work due to injury or illness, ________________ pays a percentage of his or her income for up to 6 months.

Accepted Answer

short-term...

Question 14

Which of the following will guarantee an employee's permanent right to a pension benefit offered by the employer?

Accepted Answer

A)  Money purchase pension plans
B)  Pension Benefit Guaranty Corporation
C)  Summary plan description
D)  Employee Retirement Income Security Act (ERIS
A)  
E)  Vesting

Question 15

A __________ is a retirement program that pays retiring employees a fixed retirement income based on average earnings over a period of time.

Accepted Answer

defined be...

Question 16

What is the advantage to an employer who offers an employee assistance program?

Accepted Answer

A)  Decreased turnover and absenteeism
B)  Lower insurance premiums
C)  Support of the organizational strategy and employee development
D)  Increased incentives that make recruitment easier
E)  Less time off work for illness and on-the-job injuries

Question 17

Which of the following is the organization that lays claim to corporate assets to pay or fund inadequate pension programs?

Accepted Answer

A)  SPD
B)  HIPAA
C)  PBGC
D)  IRA
E)  ERISA

Question 18

A recent survey found that as many as 70 percent of American workers didn't take all of their vacation time.

Accepted Answer

A) True 
 B)False

Question 19

MATCHING KEY TERMS AND DEFINITIONS
-A type of retirement program whereby each employee has an individual account to which both the employee and the employer may make contributions.

Accepted Answer

A)  Summary Plan Description
B)  Defined contribution plan
C)  Health Maintenance Organization
D)  Flexible benefits
E)  Workers' compensationF) Domestic partner benefitsG) Legally required benefitsH) Unemployment compensationI) Social SecurityJ) PPOK) Employee benefitsL) ERISAM) Consumer driven health plan (CDHP) N) Flexible spending accountsO) Defined benefit plan

Question 20

Which of the following is NOT a legally required benefit?

Accepted Answer

A)  Retirement plans
B)  Social Security
C)  Unemployment compensation
D)  Workers' compensation
E)  Unpaid family and medical leave

Exam 11: Employee Benefits

Which of the following is the organization that lays claim to corporate assets to pay or fund inadequate pension programs?

Correct Answer
verified

Defined benefit pension plans pay a specific amount of money to qualified employees, usually for the rest of the employee's life.

Correct Answer
verified

A recent survey found that as many as 70 percent of American workers didn't take all of their vacation time.

Correct Answer
verified

Which of the following NOT true of Social Security?

Correct Answer
verified

MATCHING KEY TERMS AND DEFINITIONS -A type of retirement program whereby each employee has an individual account to which both the employee and the employer may make contributions.

Correct Answer
verified

All of the following statements about workers' compensation are accurate EXCEPT:

Correct Answer
verified

If an employee is unable to work due to injury or illness, ________________ pays a percentage of his or her income for up to 6 months.

Correct Answer
verified
short-term...
View Answer

Which of the following is NOT a legally required benefit?

Correct Answer
verified

Which legally required benefit is paid for by the employer and the employee?

Correct Answer
verified

MATCHING KEY TERMS AND DEFINITIONS -Membership-based, nonfinancial rewards offered to attract and keep employees.

Correct Answer
verified

ERISA spells out employer requirements for employee health insurance benefits.

Correct Answer
verified

Correct Answer
verified

What is the advantage to an employer who offers an employee assistance program?

Correct Answer
verified

Which of the following is NOT true regarding Social Security?

Correct Answer
verified

MATCHING KEY TERMS AND DEFINITIONS -Benefits offered to an employee's "live-in" partner.

Correct Answer
verified

An employer's worker compensation insurance rates are determined by their history of accidents, similar to car insurance rates.

Correct Answer
verified

Which is NOT true about The Patient Protection and Affordable Care Act:

Correct Answer
verified

Which of the following will guarantee an employee's permanent right to a pension benefit offered by the employer?

Correct Answer
verified

A __________ is a retirement program that pays retiring employees a fixed retirement income based on average earnings over a period of time.

Correct Answer
verified
defined be...
View Answer

The __________ provides for continued employee benefits up to three years after an employee leaves a job.

Correct Answer
verified
Consolidated Omnibus...
View Answer

Exam 11: Employee Benefits

Which of the following is the organization that lays claim to corporate assets to pay or fund inadequate pension programs?

Correct AnswerverifiedShow Answer

Defined benefit pension plans pay a specific amount of money to qualified employees, usually for the rest of the employee's life.

Correct AnswerverifiedShow Answer

A recent survey found that as many as 70 percent of American workers didn't take all of their vacation time.

Correct AnswerverifiedShow Answer

Which of the following NOT true of Social Security?

Correct AnswerverifiedShow Answer

MATCHING KEY TERMS AND DEFINITIONS -A type of retirement program whereby each employee has an individual account to which both the employee and the employer may make contributions.

Correct AnswerverifiedShow Answer

All of the following statements about workers' compensation are accurate EXCEPT:

Correct AnswerverifiedShow Answer

If an employee is unable to work due to injury or illness, ________________ pays a percentage of his or her income for up to 6 months.

Correct Answerverifiedshort-term...View AnswerShow Answer

Which of the following is NOT a legally required benefit?

Correct AnswerverifiedShow Answer

Which legally required benefit is paid for by the employer and the employee?

Correct AnswerverifiedShow Answer

MATCHING KEY TERMS AND DEFINITIONS -Membership-based, nonfinancial rewards offered to attract and keep employees.

Correct AnswerverifiedShow Answer

ERISA spells out employer requirements for employee health insurance benefits.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the advantage to an employer who offers an employee assistance program?

Correct AnswerverifiedShow Answer

Which of the following is NOT true regarding Social Security?

Correct AnswerverifiedShow Answer

MATCHING KEY TERMS AND DEFINITIONS -Benefits offered to an employee's "live-in" partner.

Correct AnswerverifiedShow Answer

An employer's worker compensation insurance rates are determined by their history of accidents, similar to car insurance rates.

Correct AnswerverifiedShow Answer

Which is NOT true about The Patient Protection and Affordable Care Act:

Correct AnswerverifiedShow Answer

Which of the following will guarantee an employee's permanent right to a pension benefit offered by the employer?

Correct AnswerverifiedShow Answer

A __________ is a retirement program that pays retiring employees a fixed retirement income based on average earnings over a period of time.

Correct Answerverifieddefined be...View AnswerShow Answer

The __________ provides for continued employee benefits up to three years after an employee leaves a job.

Correct AnswerverifiedConsolidated Omnibus...View AnswerShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
short-term...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
defined be...
View Answer

Correct Answer
verified
Consolidated Omnibus...
View Answer