Deck 13: Employee Benefits and Services

Question 1

According to the textbook,which of the following employee benefits is becoming increasingly important for the aging workforce?

A) Coinsurance
B) Healthcare benefits
C) Work sharing
D) Employment insurance
E) Job sharing

Answer 1

B

Question 2

The employment insurance program is funded by contributions from eligible employees but not their employers.

Answer 2

False

Question 3

The employment insurance benefit is generally 55% of average earnings during the last 14 to 45 weeks of which of the following?

A) The qualifying period
B) The previous calendar year
C) The probationary period
D) The previous month
E) The benefit period

Answer 3

A

Question 4

What is the government-sponsored program that provides temporary financial assistance to a person who is unable to work through no fault of his or her own?

A) Service insurance
B) Employment insurance
C) Worker insurance
D) Labour insurance
E) Illness and injury insurance

Question 5

An employer is required to provide advance notice to an employee whose employment is being terminated,unless the employee is working on a short-term contract or which of the following?

A) The company is shutting down
B) A layoff is occurring due to economic conditions
C) The employee is eligible for early retirement
D) The employee has seasonal work
E) The employee is being fired for just cause

Question 6

What are the indirect financial payments given to employees known as?

A) Financial incentives
B) Stock options
C) Company shares
D) Commissions
E) Employee benefits

Question 7

Some provinces require additional termination pay when mass layoffs occur.The amount of additional pay depends on which of the following?

A) The level of unemployment in the region
B) The employee's length of service
C) The time of year
D) The number of employees being laid off
E) The reasons for the layoff

Question 8

A type of life insurance that provides lower rates than individual insurance and includes all employees,regardless of health or physical condition,is called

A) whole life insurance.
B) group life insurance.
C) endowment insurance.
D) term insurance.
E) universal life insurance.

Question 9

What is the benefit that provides pay to an employee when he or she is out of work because of a non-work related injury or illness?

A) Severance pay
B) Unemployment pay
C) Workers' compensation
D) Short-term disability plans
E) Hospitalization benefits

Question 10

Briefly describe five government-sponsored employee benefits in Canada.

Question 11

The amount of time off provided for bereavement leave varies by jurisdiction and also depends on which of the following?

A) The employee's length of service with the company
B) The employee's compensation level
C) The employee's number of unused personal days
D) The closeness of the relationship between the employee and the deceased
E) The employee's performance over the last review period

Question 12

What is the purpose of a supplemental unemployment benefit plan?

A) To supplement employment insurance benefits by receiving a combined benefit closer to the actual working wage
B) To provide employment insurance benefits so that employees can achieve a better standard of living during periods of unemployment
C) To extend the maternity leave period for both parents
D) To facilitate collective bargaining so that striking workers can receive strike pay without delay
E) To facilitate an agreement between an employer and the employees for benefits as employee needs change

Question 13

According to the textbook,what is the agreed upon best way to manage workers' compensation claims over the long term?

A) Accident prevention
B) Privatization of workers' compensation
C) Instituting employee premiums
D) Better supervising employees
E) Better claims monitoring

Question 14

The three types of benefits provided under the Canada/Quebec Pension Plan are

A) disability pensions, survivor pensions, and old age security.
B) retirement pensions, healthcare, and disability pensions.
C) retirement pensions, survivor pensions, and old age security.
D) retirement pensions, disability pensions, and survivor benefits.
E) retirement pensions, survivor benefits, and healthcare.

Question 15

The provincial and federal governments pay the full cost of the workers' compensation system.

Question 16

Employees in Ontario and the federal jurisdiction may be eligible for what kind of additional pay in certain termination situations,in addition to pay in lieu of notice?

A) Unemployment pay
B) Notice pay
C) Exit pay
D) Severance pay
E) Terminal pay

Question 17

Employment insurance programs are meant for eligible persons who are unable to work through no fault of their own.

Question 18

Jenelle is preparing for a maternity leave.How many weeks is she most likely to take?

A) 12 to 15
B) 34 to 52
C) 9 to 25
D) 6 to 50
E) 2 to 40

Question 19

Workers' compensation is,in effect,what type of insurance plan?

A) Pension
B) Bureaucratic
C) Guaranteed
D) "No cost"
E) "No fault"

Question 20

What is the range of the leave in weeks for parental and adoption leaves?

A) 12 to 24
B) 34 to 52
C) 9 to 25
D) 6 to 50
E) 2 to 40

Question 21

According to the data presented in the textbook,which of the following is the top challenge in improving how mental health issues are addressed in the workplace?

A) Lack of front-line manager awareness
B) Lack of senior management buy-in
C) Lack of tools and support
D) Inability to identify suitable modified work
E) Employee perceptions and stigma related to mental health issues

Question 22

If all employees living with depression or anxiety had access to better treatments and supports,workplace functioning would improve significantly.

Question 23

According to the textbook,common health-related insurance plans,other than supplementary healthcare/medical insurance,include which of the following?

A) Vision care, physiotherapy, and dental services
B) Chronic illness benefits, vision care, and dental services
C) Vision care, hearing aids, and dental services
D) Vision care, prescription drugs, and dental insurance
E) Vision care, dental services, and medical supplies

Question 24

What is known as a proactive,employer-centred process that coordinates the activities of the employer,the insurance company,and healthcare providers in an effort to minimize the impact of injury,disability,or disease on a worker's capacity to successfully perform his or her job?

A) Disability management
B) Productivity management
C) Worker health management
D) Benefits management
E) Workforce management

Question 25

What is known as the percentage of expenses (in excess of the deductible that are paid for by the insurance plan?

A) Insured amount
B) Uninsured amount
C) Coinsurance level
D) Premium
E) Assessment

Question 26

According to the textbook,what are the main reasons for increasing healthcare costs in Canada?

A) Increasing use of expensive new drugs and rising drug use by an aging population
B) "Cost cutting" in provincial healthcare plans and the arrival of new types of diseases
C) The rise in psychiatric and psychological needs of employees
D) Increasing stress-related illnesses and associated legal costs from employee complaints
E) Increasing workers' compensation claims and the use of expensive new drugs

Question 27

According to the textbook,what is the leading cause of short- and long-term disability claims in Canada?

A) Upper body injuries
B) Mental health issues
C) Injuries to feet and legs
D) Eyesight and hearing issues
E) Mobility injuries and issues

Question 28

Which of the following is the type of retirement plan that does not define the eventual benefit amount,but only the periodic employer contribution to the plan?

A) Government-sponsored plan
B) Defined contribution pension plan
C) Deferred profit-sharing plan
D) Undefined retirement plan
E) Defined benefit pension plan

Question 29

According to the textbook,what is the most common psychiatric disability?

A) Schizophrenia
B) Depression
C) Bipolar disorder
D) Attention-deficit/hyperactivity disorder
E) Loneliness

Question 30

What is the term used to refer to the annual amount of health/dental expenses that an employee must pay before insurance benefits will be paid?

A) The premium
B) The fee
C) The charge
D) The supplement
E) The deductible

Question 31

What amount of life insurance does group life insurance usually provide?

A) $100,000
B) Five years' salary
C) Two years' salary
D) $25,000
E) One year's salary

Question 32

What type of leave can employers provide for employees who want time off to rejuvenate or to pursue a personal goal?

A) Bereavement leave
B) Maternity leave
C) Paternity leave
D) Sabbatical leave
E) Mental leave

Question 33

What is critical illness insurance?

A) Coverage providing a lump-sum benefit to an employee who is diagnosed with and survives a life-threatening illness
B) Coverage for prescription drugs when an employee is diagnosed with an illness that will require a leave of absence
C) A deductible expense per year that provides a fund to be used for the purchase of drugs not covered by health insurance
D) Incremental payments made to employees who no longer can return to work
E) Coverage providing a fixed lump-sum benefit in addition to life insurance benefits when injury is accidental

Question 34

Which of the following is the type of pension plan that contains a formula for determining retirement benefits so that the actual benefits to be received are defined ahead of time?

A) Money purchase pension plan
B) Defined contribution pension plan
C) Defined benefit pension plan
D) Deferred profit-sharing plan
E) Undefined retirement plan

Question 35

According to the textbook,what three benefits form the cornerstone of almost all benefits programs?

A) Life insurance, maternity leave, and supplementary healthcare/medical insurance
B) Life insurance, long-term disability, and supplementary healthcare/medical insurance
C) Long-term disability, critical illness, and life insurance
D) Life insurance, maternity leave, and pension benefits
E) Life insurance, long-term disability, and pension benefits

Question 36

According to the textbook,what is the biggest issue facing benefits managers in Canada?

A) Workers' compensation costs
B) Pension funding
C) Unusual illness coverage
D) Retiree benefits
E) Increasing healthcare costs

Question 37

What is the benefit that provides a fixed lump-sum benefit in addition to life insurance benefits when death is accidental?

A) Bereavement and home care insurance
B) Loss of life and physical injury insurance
C) Survivors' benefit and recovery insurance
D) Accidental death and dismemberment coverage
E) Casualty and injury insurance

Question 38

According to the textbook,the simplest approach to reducing health-benefit costs of organizations is to increase the amount of healthcare costs paid by which of the following?

A) Employees
B) The federal government
C) Workers' compensation plans
D) Customers
E) Provincial governments

Question 39

According to the textbook,effective disability management programs include

A) monitoring worker's compensation.
B) early and safe return-to-work policies.
C) outplacement programs.
D) monitoring unemployment levels.
E) monitoring unemployment insurance.

Question 40

According to the textbook,the fastest growing of all occupational disabilities are which of the following?

A) Virus and bacteria illness
B) Back issue
C) Psychiatric
D) Chronic fatigue
E) Repetitive strain

Question 41

Identify and describe 5 different voluntary employer-sponsored benefits.

Question 42

Which of the following is a salary guarantee that protects executives if their firms are the targets of acquisitions or mergers?

A) Relocation benefits
B) Golden parachutes
C) Termination benefits
D) Outplacement assistance
E) Expense accounts

Question 43

A provision in pension plans referring to the money contributed by the employer that has been placed in a pension fund and cannot be forfeited for any reason is known as which of the following?

A) Employee vesting rights
B) Employee equity rights
C) Employee security rights
D) Employee guarantee rights
E) Employee assurance rights

Question 44

Which of the following is the retirement benefit plan in which an amount of company profits is credited to each employee's account,payable at retirement,termination,or death?

A) Group profit pension plan
B) Defined profit pension plan
C) Defined contribution profit plan
D) Deferred profit-sharing plan
E) Group profit-sharing plan

Question 45

Melanie has a defined contribution pension plan; she will know the actual benefits that she will receive ahead of time.

Question 46

In a contributory pension plan,pension fund contributions are made by

A) the government and the employee.
B) the employer only.
C) the government and the employer.
D) both the employer and the employee.
E) the employee only.

Question 47

According to the textbook,once an employee is vested,all pension plan contributions are "locked-in" and cannot be withdrawn by the employee on termination of employment; in this case,when must employees wait until to receive a pension from the plan?

A) Changing jobs
B) Retirement
C) At least 5 years of service
D) Transfer
E) Promotion

Question 48

A defined benefit pension plan contains a formula for determining retirement benefits.

Question 49

According to the textbook,why are group registered retirement savings plan/deferred profit-sharing plan combinations popular in Canada?

A) No tax is paid at all and the money can be withdrawn at any time after 5 years of retirement.
B) They increase severance payments over and above the amount legislated.
C) Employers provide contributions to them at three times the individual employee contribution.
D) No tax is paid until money is received from the plans at the time of the employee's death or termination of employment (at retirement or otherwise).
E) Membership is automatic upon beginning employment with any employer in Canada.

Question 50

XYZ is a content marketing firm.They have clients across Canada and hire consultants across the country as well.They have no physical office and instead allow employees to work from home and connect remotely for meetings.This arrangement is referred to as

A) flextime.
B) telecommuting.
C) flexwork.
D) compressed workweeks.
E) work sharing.

Question 51

Identify three advantages of offering flexible work arrangements?

Question 52

Mark works at a IT consulting firm.He has to drop his daughter at daycare every morning.Instead of beginning work at 9 a.m.and finishing at 5 p.m.,he works from 9:30 a.m.to 5:30 p.m.This arrangement is referred to as

A) flextime.
B) telecommuting.
C) flexwork.
D) compressed workweeks.
E) work sharing.

Question 53

Most group life insurance plans contain a provision for coverage of all employees regardless of health or physical condition.

Question 54

Mandatory retirement is now prohibited by human rights laws across the country,employees cannot be required to retire at age 65.

Question 55

Which of the following is the popular work arrangement that involves using technology to work away from the office?

A) Flextime
B) Telecommuting
C) Flexwork
D) Compressed workweeks
E) Work sharing

Question 56

Liz and Larry are both part-time students.They both work as a receptionist in a small business.Liz works Mondays to Wednesdays and Larry works Thursdays and Fridays.This arrangement is referred to as

A) flextime.
B) telecommuting.
C) flexwork.
D) compressed workweeks.
E) work sharing.

Question 57

Which of the following includes executive perquisites related to subsidized mortgages,purchase of the executive's current house,and payment for the actual move?

A) Relocation benefits
B) Golden parachutes
C) Termination benefits
D) Outplacement assistance
E) Expense accounts

Question 58

Accidental death and dismemberment coverage provides annual payments in addition to life insurance benefits when employees are diagnosed with but survive a life-threatening illness.

Question 59

A pension provision whereby employees who change jobs can transfer the lump-sum value of the pension that they have earned to a locked-in registered retirement savings plan or to their new employer's pension plan is referred to as which of the following?

A) Non-funding
B) Vesting
C) A non-locked-in provision
D) A flexible pension
E) Portability

Question 60

In most provinces,pension legislation requires that employer contributions be vested once the employee has completed how many years of service?

A) 3
B) 1
C) 2
D) 4
E) 5

Question 61

Individualized benefit plans that accommodate unique employee needs and preferences for benefits,are known as which of the following?

A) Perquisite benefit plans
B) Flexible benefit programs
C) Individualized benefit plans
D) Constrained benefit programs
E) Family-friendly benefit plans

Question 62

The last few years have seen a trend away from employer-provided retiree health benefits.

Question 63

A third party conducts a confidential survey of the health history and lifestyle choices of employees to identify common health risk factors so that problem-specific programs can be implemented This is an example of

A) a risk assessment.
B) a health-case spending account.
C) health promotion.
D) benefits fraud.
E) retiree benefits.

Question 64

Benefits fraud is not a legitimate concern for companies.

Question 65

Cost containment is one advantage to an employer offering a flexible benefit plan.

Question 66

A job-related service benefit that is designed to assist employees who must help aging parents or relatives who are not fully able to care for themselves is known as

A) personal care.
B) eldercare.
C) aging care.
D) family care.
E) parental care.

Question 67

Rybak Inc.offers its employees $1000 per year to spend on health-related expenses.This type of program is referred to as

A) a defined benefit pension plan.
B) a healthcare spending account.
C) a commission.
D) a defined contribution plan.
E) a flexible work arrangement.

Question 68

According to the textbook,the number of flexible benefits programs in Canada has been decreasing.

Question 69

Carlos has noticed that employees in his organization don't really value the benefits package his organization has designed for them.The workforce in Carlos' organization is quite diverse in age and other demographic variables.Provide Carlo with some advice about flexible benefits by describing what they are and be sure to tell him about at least two key advantages and disadvantages of flexible benefits.

Question 70

Jane distributes a monthly e-blast to employees on ways to improve health and wellness including smoking cessation,healthy recipes and exercise strategies.This is an example of

A) a risk assessment.
B) a health-case spending account.
C) health promotion.
D) benefits fraud.
E) retiree benefits.

Question 71

Which of the following is a formal employer program for providing employees with confidential counselling or treatment programs for problems,such as mental health issues,marital/family problems,legal problems,and stress?

A) Employee assistance plans
B) Psychological, family, and legal benefits
C) Anonymous plans
D) Crisis aid plans
E) Educational subsidy benefits

Question 72

Your CEO has asked you for ways to reduce the company's health-benefit costs.What are three options you can suggest?

Question 73

Eldercare is designed to help older employees who are not fully able to care for themselves.