Exam 8: Variable Pay, Executive Compensation, and Benefits

Karen, a diabetic patient, has quit her job as an internal auditor with a bank and has joined another company as the assistant CFO. Which of the following laws would enable Karen to switch her health insurance plan from her former employer to her new employer?

Only employees who have worked at least 12 months and 1,250 hours in the previous year are eligible for leave under the FMLA.

Copayments are costs that an insured pays for medical treatment.

Which of the following is true about the Older Workers Benefit Protection Act (OWBPA)?

Which of the following statements is true of the Family and Medical Leave Act?

Which of the following is a provision of the Affordable Care Act?

Explain any three laws that affect the retirement plans of employees.

How do insurance plans offered by employers benefit employees even when employers do not pay any of the costs?

Which of the following is one of the approaches taken by employers offering health care benefits to control and reduce their costs?

How do employee benefits provide competitive advantage to employers?

Under a straight piece-rate system, wages are determined by dividing the number of units produced by the piece rate for one unit.

The Family and Medical Leave Act (FMLA) defines a _____ as one requiring in-patient care or continuing treatment by a health care provider, for medical problems that exist beyond three days.

A differential piece-rate system pays employees one piece-rate wage for units produced up to a standard output and a higher piece-rate wage for units produced over the standard.

A stock option plan gives employees the right to purchase an unlimited number of shares of company stock at a specified exercise price for a limited period of time.

Most benefits, except for paid time off, are taxed as income to employees.

Employee stock ownership plan is a plan designed to give employees significant stock ownership by their employers.

What are employee-paid group benefits?

Union contracts have an impact on the number of paid holidays offered by organizations.

FMLA leave is typically paid and employers are also required to cover the workload for employees on family leave.

An employee would have limited access to a company's health plan if the employee's spouse works for another company that offers health insurance.