Benefits Evaluation HRTampa Study Group

Benefits Evaluation HRTampa Study Group

1. Which of the following is NOT a benefit mandated by federal or state laws? a. workers' compensation b. universal health insurance c. family and medical leave d. unemployment insurance

2. Medicare covers hospital insurance and optional supplemental a. disability insurance for people after age 60 b. medical insurance for people after age 60 c. disability insurance for people after age 65 d. all individuals 65+ years old

3. Social Security pays monthly survivor's benefits to eligible dependents who are a. unmarried children under age 18 b. disabled children at any age if they became disabled before age 12 c. surviving spouse at age 50 d. dependent parents, age 65 or older

4. Unemployment insurance is funded a. equally by employees and employers b. primarily by employees c. primarily by employers d. by the federal government

5. Employers can manage their workers' compensation liability by a. employing occupational or medical specialists b. requiring managers to document all accidents c. investigating claims to assess fault d. a progressive discipline policy for violators

6. Workers' compensation is a a. federal insurance program paid for by employers b. federal insurance program paid for by employers and employees c. state insurance program paid for by employers and employees d. state insurance program paid for by employers

7. Which of the following is NOT a characteristic of a retirement defined benefit plan? a. cash balance plans b. flat dollar formula c. thrift plan d. final pay formula

8. Which of the following is NOT a characteristic of a defined contribution plan? a. employee stock ownership plan b. money purchase plan c. career average formula d. profit sharing plan

9. With the advent of managed care, which type of health care coverage is offered less frequently? a. point of service organization b. physician hospital organization c. indemnity plans d. exclusive provider organization

10. Under ERISA, every employee is automatically entitled to receive the following documents EXCEPT?

a. summary of material modifications b. summary of complaint procedure c. summary of plan description d. summary of annual report

11. Total benefits cost (TBC) a. is a ratio benefit cost per employee to average number of employees b. is exclusive of miscellaneous items, such as education c. includes staff time, overhead, and processing costs d. is not usually calculated because it varies so much

12. A security benefit voluntarily offered by employers to employees who lose their job is known as

a. COBRA b. Severance Pay c. Unemployment Insurance d. Supplemental Pay

13. An audit and review of the services and costs billed by health care providers is known as a. Procedural review b. Practice Analysis c. Utilization Review d. Operational Control

14. Which of the following benefits is voluntary? a. Unemployment Insurance b. Social Security c. Major Medical Insurance d. Workers' Compensation

15. In which type of pension plan can employees calculate in advance how much they will receive upon retirement?

a. Defined Benefit b. Defined Contribution c. Profit Sharing d. Money-purchase plan

16.A total compensation system can be more effective by a. dealing with adverse impact issues b. redesigning jobs to make them more challenging c. matching the mix of compensation and benefits to the preferences of employees d. implementing Maslow's hierarchy of needs theory

17. Which of the following health care funding mechanisms contains the greatest amount of financial risk for the employer?

a. self insured b. partially self-funded c. administrative only d. fully insured

18. An employer who provides pension plan benefits equal to $50 per month for each year of service is using the

a. career-average formula b. flat-dollar formula c. final-pay formula d. entry-age normal formula

19.To be eligible for unemployment compensation, a worker must be a. unemployed regardless of the cause and actively seeking work b. injured in a work-related accident c. terminated for reasons other than gross misconduct d. permanently disabled

20. Which of the following actions is likely to increase the cost of an organization's health care system? a. funding a wellness program b. eliminating coinsurance payments c. maintaining a flexible benefit plan d. requiring a gatekeeper system

21. A defined contribution program in which employees contribute a portion of their salary to a trust fund and their contributions are matched by the company is known as

a. stock ownership plan b. 401K plan c. money-purchase plan d. profit-sharing plan

22. Which of the following statements about unemployment benefits is TRUE? a. The benefits are funded by a federal tax paid equally by employers and employees b. There is no time limit on collecting unemployment benefits c. Workers who leave a job voluntarily are eligible benefits d. Workers must work a minimum number of weeks to be eligible for benefits

23. Stock grants based on organizational performance are an example of a. base pay program b. performance pay program c. productivity pay d. incentive plan

24. An organization might offer its employees a flexible benefit plan under Section 125 of the IRS code in order to

a. give employees a vested interest in the company b. give employees the option to buy stock at a fixed price for a stated period of time c. allow employees to choose the proportion of profit sharing that is deferred and current d. help employees manage their benefit costs

25. To be eligible for workers' compensation, an employee must a. have a disability that is caused by or aggravated by the work environment b. become injured while using work equipment c. prove that the employer was responsible for the accident d. be permanently disabled

26. To qualify under ERISA, a pension plan must: a. Allow discrimination in favor of officers, shareholders, or highly compensated employees in contributions or benefits. b. Be established for the benefit of employees and/or their beneficiaries only c. Be an enhancement of 401K programs d. All of the above

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