Deck 3: Regulating Employee Benefits

Question 1

The Pension Protection Act of 2006 was passed for the protection of defined benefit plans only.(The Pension Protection Act of 2006)

Answer 1

False

Question 2

According to the Pregnancy Discrimination Act of 1978,employers must not treat pregnancy less favorably than other conditions covered under employee benefit plans,including health insurance and disability insurance.(The Pregnancy Discrimination Act of 1978)

Answer 2

True

Question 3

The Civil Rights Act of 1991 was enacted,in part,to overturn several Supreme Court rulings that limited employee rights.(The Civil Rights Act of 1991)

Answer 3

True

Question 4

The Health Insurance Portability and Accountability Act of 1996 is a substantial amendment to the Internal Revenue Code.(The Health Insurance Portability and Accountability Act of 1996)

Question 5

The Older Workers Benefit Protection Act set limits on the development and implementation of employer early retirement practices.(The Age Discrimination in Employment Act of 1967 (ADEA))

Question 6

The Federal Unemployment Tax Act is levied against employees to finance unemployment insurance benefits.(The Internal Revenue Code)

Question 7

Patients' consent is required for use and disclosure of health records as of 2003.(The Health Insurance Portability and Accountability Act of 1996)

Question 8

According to ERISA guidelines,companies can deduct benefit costs when they meet its nonqualification rules.(The Employee Retirement Income Security Act of 1974)

Question 9

Diversifying a pension plan's investments to minimize the risk of large losses is considered a fiduciary responsibility.(Title I: Protection of Employee Rights)

Question 10

Employer-provided health care is considered a permissible collective bargaining subject.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 11

The Equal Pay Act is an amendment to ERISA and is designed to insure that women and men receive equal pay for equal work.(The Equal Pay Act of 1963)

Question 12

Title I on ERISA requires employers to report detailed financial and actuarial data about their benefits plan to the US Department of Labor.(Title I: Protection of Employee Rights)

Question 13

An older employee may not be required to pay more for a benefit as a condition of employment.(The Age Discrimination in Employment Act of 1967 (ADEA))

Question 14

The Americans with Disabilities Act of 1990 pertains to all private sector employees,all government employees and labor unions.(The Americans with Disabilities Act of 1990)

Question 15

Qualified benefit plans are given favorable tax treatment,because they meet certain ERISA guidelines.(The Employee Retirement Income Security Act of 1974)

Question 16

The Internal Revenue Code contains multiple regulations only for legally required benefits.(The Internal Revenue Code)

Question 17

Employees of the federal government are not protected by FLSA regulations.(The Fair Labor Standards Act of 1938)

Question 18

According to FLSA guidelines,employees are entitled to pay at a rate of one-and-one-half times their regular pay,when they work over 8 hours in a work day.(The Fair Labor Standards Act of 1938)

Question 19

Employers can deduct the cost of the benefits they offer employees,from their annual income if the cost is considered an ordinary and necessary expense.(The Internal Revenue Code)

Question 20

The NLRA applies to private sector companies,except for companies whose main business is passenger or freight rail or air carrier.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 21

The Pension Protection Act of 2006 permits an employer to automatically enroll employees in its defined contribution retirement plan.(The Employee Retirement Income Security Act of 1974)

Question 22

The Equal Pay Act is an amendment of ERISA.(The Equal Pay Act of 1963)

Question 23

According to HIPAA,a person's medical history is a permissible reason to limit participation in a group health care plan.(The Health Insurance Portability and Accountability Act of 1996)

Question 24

The Pension Protection Act does not provide any advantages for the Pension Benefit Guarantee Corporation.(The Pension Protection Act of 2006)

Question 25

FLSA applies to all types of employees across all industries.(The Fair Labor Standards Act of 1938)

Question 26

The Equal Employment Opportunity Commission enforces FLSA.(The Fair Labor Standards Act of 1938)

Question 27

COBRA is an amendment to which federal law (Title I: Protection of Employee Rights)?

A)IRCA
B)HIPPA
C)ERISA
D)FLSA

Question 28

The NLRA applies to agricultural and domestic workers.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 29

Under the Americans with Disabilities Act of 1990,an employer cannot refuse to hire a person with a disability.(The Americans with Disabilities Act of 1990)

Question 30

FICA and FUTA are the main taxes that apply to employee benefits.(The Internal Revenue Code)

Question 31

Title II of GINA restricts the deliberate acquisition of genetic information by employers and others covered by Title II and strictly limits such entities from disclosing genetic information.(Genetic Information Nondiscrimination Act of 2008)

Question 32

Workers were at a disadvantage after the Great Depression.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 33

Under the Fair Labor Standards Act,the overtime pay provision applies to employees whose jobs are classified as nonexempt and excludes jobs classified as exempt.(The Fair Labor Standards Act of 1938)

Question 34

Under NLRA,subjects for collective bargaining fall into one of which three categories? (Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

A)Mandatory,probable,legal
B)Mandatory,permissive,illegal
C)Mandatory,probable,illegal
D)Mandatory,permissive,legal

Question 35

The U.S.Department of Labor enforces HIPAA.(The Health Insurance Portability and Accountability Act of 1996)

Question 36

ERISA,Title IV established the Pension Benefit Guarantee Corporation which is funded by the EEOC.(Title IV: Plan Termination Insurance)

Question 37

Business necessity is not a legally admissible defense against charges of employment discrimination.(The Civil Right Act of 1991)

Question 38

Paid time off is a permissive bargaining subject under NLRA provisions.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 39

The Lorance v.AT&T Technologies decision is an important example of the Civil Rights Act of 1991.(The Civil Right Act of 1991)

Question 40

ERISA regulates paid time off programs.(The Employee Retirement Income Security Act of 1974)
34.According to the WARN Act,employers must give employees at least 30 days advance notice of a plant closing or mass layoff.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

Question 41

The FLSA of 1938,contains provisions concerning which three topics? (The Fair Labor Standards Act of 1938)

A)Child labor,working conditions,minimum wage
B)Minimum wage,overtime pay,child labor
C)Working conditions,minimum wages,overtime pay
D)Overtime pay,child labor,working conditions

Question 42

In 2015,the PBGC paid total benefits of approximately how much? (Title IV: Plan Termination Insurance)

A)Less than 2 million
B)Around 3.5 million
C)Around 5.7 million
D)More than 8.5 million Essay Questions

Question 43

Under the Equal Pay Act of 1963,what are skill,effort,responsibility and working conditions referred to as? (The Equal Pay Act of 1963)

A)Classification factors
B)Compensable factors
C)Commendable factors
D)Performance factors

Question 44

Health care reform aims to reduce the uninsured U.S.residents by how much in 2016? (Patient Protection and Affordable Care Act of 2010)

A)20 million
B)32 million
C)44 million
D)51 million

Question 45

Which of following is NOT a government agency that shares responsibility for the administration of ERISA provisions? (Title I: Protection of Employee Rights)

A)U.S.Department of Labor
B)IRS
C)NLRB
D)PBGC

Question 46

Determining whether jobs are exempt from the FLSA overtime pay provision has become even more complex since the U.S.Department of Labor introduced revised guidelines,known as the: (The Fair Labor Standards Act of 1938)

A)Qualified Plans.
B)Nondiscrimination Rules.
C)FairPay Rules.
D)Equal Benefit Principle.

Question 47

This term refers to an unfunded deferred compensation plans for a select group of highly compensated employees? (The Employee Retirement Income Security Act of 1974)

A)Top hat plan
B)Safe harbor plan
C)Nonqualified plan
D)Fiduciary plan

Question 48

Which ERISA Title contains terms for pension insurance programs and includes the establishment of the Pension Benefit Guarantee Corporation? (Title IV: Plan Termination Insurance)

A)I
B)II
C)III
D)IV

Question 49

Which of the following is a mandatory collective bargaining subject? (Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

A)Paid time-off
B)Retiree benefits
C)Workers' compensation
D)Minimum vesting standards

Question 50

ERISA,Title I,contains provisions for all of the following,except: (Title I: Protection of Employee Rights)

A)fiduciary responsibilities.
B)mandatory bargaining subjects.
C)continuation coverage.
D)group health plan portability.

Question 51

The federal government funds the Social Security Old-Age,Survivor and Disability Insurance Program using which tax? (The Internal Revenue Code)

A)Federal Insurance Collections Act
B)Federal Income Contributions Act
C)Federal Insurance Contributions Act
D)Federal Insurance Tax Act

Question 52

Briefly discuss the key provisions of the Pension Protection Act of 2006.(The Pension Protection Act of 2006)

Question 53

Under the Patient Protection and Affordable Care Act of 2010,employers with at least ____ employees are required to offer affordable health insurance to full-time employees.(Patient Protection and Affordable Care Act of 2010)

A)15
B)20
C)50
D)75

Question 54

Taxes fund programs for which of the following? (The Internal Revenue Code)

A)State and local governments
B)Federal and state governments
C)Federal,state and local governments
D)Local governments only

Question 55

This Title of ERISA has the IRC provisions pertaining to the taxation of employee benefits and pension plans.(Title II: Amendments to the Internal Revenue Code Relating to Retirement Plans)

A)Title I
B)Title II
C)Title III
D)Title IV

Question 56

According to NLRA,which of the following is NOT the subject for mandatory bargaining? (Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)

A)Disability pay
B)Employer-provided health insurance
C)Unpaid time-off
D)Retirement plans

Question 57

Benefits qualify for tax deductibility when _______ are followed.(The Internal Revenue Code)

A)FairPay Rules
B)nondiscrimination rules
C)fiduciary responsibilities
D)vesting rules

Question 58

This equal employment opportunity law prohibits illegal discrimination against protected class individuals in employment.(Title VII of the Civil Rights Act of 1964)

A)Title VII of the Civil Rights Act of 1964
B)Civil Rights Act of 1991
C)Equal Pay Act of 1963
D)Equal Employment Opportunity Act of 1965

Question 59

This federal law was established to regulate the establishment and implementation of discretionary benefits practices.(The Employee Retirement Income Security Act of 1974)

A)NLRA
B)FLSA
C)COBRA
D)ERISA

Question 60

A person with this title manages employee benefits plans and pension plan funds to ensure the welfare of participants and beneficiaries while defraying reasonable plan expenses.(Title I: Protection of Employee Rights)

A)Executor
B)Actuary
C)Trustee
D)Fiduciary

Question 61

Give a brief overview of the main provisions of HIPAA.(The Health Insurance Portability and Accountability Act of 1996)

Question 62

Discuss the recent enactment of GINA (2008)and its relevance to benefit plans.(Genetic Information Nondiscrimination Act of 2008)

Question 63

Discuss the role of labor unions with regard to employee benefits.(Labor Unions and Employee Benefits: The National Labor Relations Act of 1935)