Exam 11: Legally Required Benefits

Samuel's full retirement age is 65 years old;and his monthly benefit at that age is $1,000.According to the Social Security Administration retirement program,what will Samuel's monthly benefit be if he decides to take retirement as early as age 63?

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(Multiple Choice)

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Question 1

Correct Answer:

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Which Medicare plan allows enrollees to use medical savings accounts?

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(Multiple Choice)

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Question 2

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Briefly describe the impetus for the establishment of legally required benefits in the United States.

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(Essay)

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Question 3

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As they design benefit programs,HR professionals must address fundamental issues,including:
• Who receives coverage
• Whether to include retirees in the plan
• Whether to deny benefits to employees during their probationary periods
• Financing of benefits
• Degree of employee choice in determining benefits
• Cost containment
• Communication

________ specify insurance rates based on classifications of businesses.

(Short Answer)

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Question 4

If the CEO of a new company asked you how much per employee she will be taxed by FUTA,what would you tell her?

(Multiple Choice)

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Question 5

What were the Medicare Part A monthly premiums in 2013?

(Multiple Choice)

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Question 6

________ occurs when a worker has his or her job status negatively affected or is terminated as a result of filing a workers' compensation claim.

(Short Answer)

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Question 7

The first 4 quarters of the last 5 completed calendar quarters in the previous year is the base period for which benefit?

(Multiple Choice)

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Question 8

________ plans emphasize cost control by limiting an employee's choice of doctors and hospitals and often pay a higher level of benefits if health care is received from approved providers.

(Short Answer)

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Question 9

Due to the fact that the costs of benefits has risen so dramatically in recent years,the majority of the companies decided to finance discretionary benefits using

(Multiple Choice)

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Question 10

What is the only state where employers are not required to fund workers' compensation programs?

(Multiple Choice)

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Question 11

Medicare Select is one of the choices under which Medicare Plan?

(Multiple Choice)

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Question 12

To be fully insured under OASDI,an employee would have to work at least how long?

(Multiple Choice)

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Question 13

Thelma is on the Medicare Prescription Drug Program and has just spent over $4,750 out-of-pocket on medications.How much of the prescription costs will Medicare now cover for her?

(Multiple Choice)

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Question 14

What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)?

(Multiple Choice)

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Question 15

How often will Jill receive an unemployment check?

(Multiple Choice)

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(35)

Question 16

As of September 2012,how much did U.S.companies spend per employee on average to provide legally required benefits?

(Multiple Choice)

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Question 17

________ Act contains provisions to make health care more affordable and will slowly eliminate the "donut hole" coverage gap.

(Essay)

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Question 18

In 2013,how much would you have to earn to qualify for one quarter of credit for OASDI coverage?

(Multiple Choice)

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Question 19

If Fred signs up for Medicare Part B,what percent of his medical services and supplies will be covered after he has paid his annual deductible?

(Multiple Choice)

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Question 20

Showing 1 - 20 of 43

Samuel's full retirement age is 65 years old;and his monthly benefit at that age is $1,000.According to the Social Security Administration retirement program,what will Samuel's monthly benefit be if he decides to take retirement as early as age 63?

Which Medicare plan allows enrollees to use medical savings accounts?

Briefly describe the impetus for the establishment of legally required benefits in the United States.

________ specify insurance rates based on classifications of businesses.

If the CEO of a new company asked you how much per employee she will be taxed by FUTA,what would you tell her?

What were the Medicare Part A monthly premiums in 2013?

________ occurs when a worker has his or her job status negatively affected or is terminated as a result of filing a workers' compensation claim.

The first 4 quarters of the last 5 completed calendar quarters in the previous year is the base period for which benefit?

________ plans emphasize cost control by limiting an employee's choice of doctors and hospitals and often pay a higher level of benefits if health care is received from approved providers.

Due to the fact that the costs of benefits has risen so dramatically in recent years,the majority of the companies decided to finance discretionary benefits using

What is the only state where employers are not required to fund workers' compensation programs?

Medicare Select is one of the choices under which Medicare Plan?

To be fully insured under OASDI,an employee would have to work at least how long?

Thelma is on the Medicare Prescription Drug Program and has just spent over $4,750 out-of-pocket on medications.How much of the prescription costs will Medicare now cover for her?

What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)?

How often will Jill receive an unemployment check?

As of September 2012,how much did U.S.companies spend per employee on average to provide legally required benefits?

________ Act contains provisions to make health care more affordable and will slowly eliminate the "donut hole" coverage gap.

In 2013,how much would you have to earn to qualify for one quarter of credit for OASDI coverage?

If Fred signs up for Medicare Part B,what percent of his medical services and supplies will be covered after he has paid his annual deductible?

Strategic Compensation: a Component of Human Resource Systems

Contextual Influences on Compensation Practice

Traditional Bases for Pay: Seniority and Merit

Incentive Pay

Person-Focused Pay

Building Internally Consistent Compensation Systems

Building Market-Competitive Compensation Systems

Building Pay Structures That Recognize Individual Contributions

Discretionary Benefits

Employer-Sponsored Retirement Plans and Health Insurance Programs

Compensating Executives

Compensating the Flexible Work Force: Contingent Employees and Flexible Work Schedules

Compensation Expatriates

Pay and Benefits Outside the United States

Challenges Facing Compensation Professionals

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