Required by Law
Health, Life, & Disability
Other Benefits
Retirement Plans
General
100
Which of the following is not a benefit required by law?

a. Social security
b. Unemployment insurance
c. OASHDI program
d. Paid leave
d. Paid leave
100
With this type of health insurance option, the employee is required to receive their care through doctors which the insurance provider pays for

a. HMO
b. PPO
c. Defined-benefit
d. Flexible spending account
a. HMO
100
Which of the following is NOT an example of a family-friendly benefit?

a. Child care
b. College savings
c. Retirement savings
d. Elder care
c. Retirement savings
100
Which of the following plans must meet the Retirement Income Security Act (ERISA) of 1974?

a. Defined benefit plans
b. Defined contribution plans
c. Section 401(k) plans
d. Money-purchase plans
a. Defined benefit plans
100
Which of the following is not true?

a. Companies view benefits as competitive
b. Benefits are very costly to the company
c. Benefits are relatively consistent over time
d. Benefits often confuse people
c. Benefits are relatively consistent over time
200
Which of the following is not true about the Unpaid Family and Medical Leave?

a. It requires more than 50 people in a company
b. It can be up to 12 weeks of unpaid leave
c. It applies to all employees
d. The reason could be taking care of an ill family member
d. The reason could be taking care of an ill family member
200
What is the primary drawback of using a flexible spending account insurance option?

a. The employee has to go to the approved doctors
b. The money that goes in the account is taxable to the employee
c. If the employee does not use the money, it goes back to the employer
d. It costs more to go to doctors outside of the network
c. If the employee does not use the money, it goes back to the employer
200
Typically, elder care benefits involve what?

a. Direct financial assistance
b. Information and support
c. Money market accounts
d. 401(k) contributions
b. Information and support
200
Which of the following is (are) an example of defined contribution plan(s)?

a. Money-purchase plans
b. ESOPs
c. Section 401(k) plans
d. All of the above
d. All of the above
200
Employee Benefits include:

a. Company Retreats
b. Overtime
c. Vacations
d. Meal Breaks
c. Vacations
300
Social Security applies to all of the following except:

a. Employees who need disability insurance
b. Local government employees
c. Employees who need medical insurance
d. Survivors
b. Local government employees
300
Typically, how long does short-term disability insurance cover?
a. Three months or less
b. Six months or less
c. One year or less
d. Eight months or less
b. Six months or less
300
In terms of reducing absenteeism and enhancing productivity, what have studies indicated about providing child care benefits?

a. Strong correlation
b. No correlation
c. Mixed correlation
d. There have been no studies on this subject
c. Mixed correlation
300
All of the following are types of retirement plans except:

a. Contributory?
b. Noncontributory?
c. Defined-benefit
d. Short-term
d. Short-term
300
All of the following are reasons benefits are important EXCEPT:

a. They help retain and motivate employees
b. They help prepare employees for retirement
c. Employees expect employee benefits
d. They are an easy and affordable way to improve job satisfaction
d. They are an easy and affordable way to improve job satisfaction
400
Which of the following groups does FMLA not cover?

a. Employees with less than two years of service
b. Employees with fewer than 35 hours of service per week
c. The organization's 10% highest paid
d. The organization's 20% highest paid
c. The organization's 10% highest paid
400
What percentage of full-time employees receive medical insurance?

a. 75%
b. 95%
c. 25%
d. 50%
a. 75%
400
In what stage can cafeteria-style benefits packages be the most expensive?

a. Design stages
b. Implementation stages
c. Coordination stages
d. Closing stages
a. Design stages
400
What year was the Employee Retirement Income Security Act implemented?

a. 1964
b. 1974
c. 1984
d. 1994
b. 1974
400
Which of the following is not an optional benefits program?

a. Group Insurance
b. “Family Friendly” benefits
c. Unemployment Insurance
d. Retirement Plans
c. Unemployment Insurance
500
Social Security covers what percentage of U.S. employees?

a. 20%
b. 40%
c. 70%
d. 90%
d. 90%
500
Health benefits are most important to this demographic:

a. Married Women
b. Married Men
c. Older workers
d. Unmarried men
c. Older workers
500
An organization's benefits objectives include the following except:

a. Communicating benefits to employees
b. Evaluate employee benefits on an annual basis
c. Compare benefits with other companies
d. Tax evasions
d. Tax evasions
500
Cash balance plans combine the advantages of what types of plans?

a. Contributory and non-contributory
b. Money-purchase and profit-sharing
c. Defined-benefit and defined-contribution
d. None of the above
c. Defined-benefit and defined-contribution
500
Group Insurance includes all of the following EXCEPT:
a. Retirement Plans
b. Medical Insurance
c. Disability Insurance
d. Long-term care
a. Retirement Plans
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