Deck 12: Employee Benefits and Services

Question 1

Most benefit programs began in earnest during the Vietnam War,when wages were strictly regulated.

Answer 1

False

Question 2

In 1929,benefits cost the employer ____ percent of total wages and salaries

A) 0,benefits were illegal
B) 3
C) 5
D) 10

Answer 2

B

Question 3

Lower paid and female employees typically have a stronger preference for sick leave.

Answer 3

True

Question 4

The United States has established agreements with other governments to coordinate Social Security benefits.

Question 5

Which of the following are reasons why employers provide benefits?

A) To keep the organization competitive in recruiting and retaining employees.
B) To keep a union out.
C) To increase employees' performance.
D) All of the above are correct.

Question 6

Which of the following is not a form of indirect financial compensation?

A) Subsidized cafeterias
B) Payment for time not worked
C) Wages
D) Legally required social insurance payments

Question 7

Most benefit programs began in earnest during ______,when wages were strictly regulated.

A) World War I
B) World War II
C) The Viet Nam War
D) Korean War

Question 8

As of 2010,over 500 million Americans had no health insurance.

Question 9

Managing a 401(k)is a time consuming and paper-intensive process.

Question 10

In a tight labor market,organizations compete for the best employees by offering better benefits and services.

Question 11

Flexible spending accounts provide funds from which employees pay for expenses not covered by the regular benefits package.

Question 12

Unemployment eligibility requirements have been standardized across the United States.

Question 13

Employees who incur expenses as a result of job-related illnesses or accidents receive some financial protection from workers' compensation benefits.

Question 14

Research indicates that the American practice of paying unemployment only to those working zero hours can encourage the overuse of temporary layoffs.

Question 15

Government and military employees traditionally have been given three weeks vacation per year.

Question 16

Offering better benefits always increases permanent employment.

Question 17

Upon termination,most organizations allow employees to collect pay for any sick leave not taken.

Question 18

The U.S.government mandates all of the following benefits except:

A) Long term care
B) Social Security
C) Medicare
D) Worker's compensation

Question 19

Studies indicate that employees prefer health insurance over most other benefits.

Question 20

Most employees covered by income replacement insurance are white-collar workers.

Question 21

The goal of the pension portion of Social Security was to provide ______________.

A) sufficient income to retired people so they could continue their standard of living without working
B) income to compliment negotiated union pension plans
C) retirement income to non-exempt employees
D) income to retired people to supplement savings,private pensions,and part-time work

Question 22

Unemployment tax rates,eligibility requirements,weekly benefits,and duration of regular benefits _________.

A) are standardized by federal law
B) have minimums established by federal laws
C) vary from state to state
D) are typically established at the municipal level

Question 23

If an employee dies,a family with children under ___ receives survivor benefits,regardless of the employee's age.

A) 14
B) 16
C) 18
D) 21

Question 24

Vacation in European Union countries averages ________.

A) three weeks
B) four weeks
C) five weeks
D) six weeks

Question 25

Employees born in ______ or earlier become eligible to receive full benefits at age 65 or reduced benefits at age 62.An employee born in _______ or later will not be able to retire with full benefits until age 67.

A) 1930;1967
B) 1937;1960
C) 1935;1965
D) 1935;1980

Question 26

Generally,FMLA stipulates that most employers with ___ or more employees must provide up to ___ weeks of unpaid leave to eligible employees during any ___-month period.

A) 16;20;24
B) 24;20;12
C) 50;12;12
D) 50;10;12

Question 27

__________ is the only major country that does not mandate paid vacations.

A) China
B) Denmark
C) Germany
D) The United States

Question 28

________ must pay a payroll tax to fund Social Security benefits.

A) Employers
B) Employees
C) Trade unions
D) Both A and B

Question 29

_______________ was set up in the United States during the 1930s,when unemployment was high.

A) Workers' compensation
B) Social security
C) Unemployment insurance
D) Medicare

Question 30

Unemployment insurance was set up in the United States as part of the _____________.

A) Social Security Act of 1935
B) Wage Restoration act of 1928
C) Fair Labor Standards Act
D) Omnibus Employment Act

Question 31

_________ are the most expensive benefit for American employers.

A) Medical insurance
B) Social Security contributions
C) Paid vacations
D) Workers compensation

Question 32

Which of the following benefits is mandatory in all states except Texas?

A) Compensation for time not worked
B) Insurance protection
C) Workers' compensation
D) Retirement plans

Question 33

The cost of workers' compensation insurance premiums is tied directed to the employer's:

A) Size
B) Number of employees
C) Past experience with job-related accidents and illnesses
D) Location

Question 34

Which country offers the most (longest)legally required paid vacation time?

A) Sweden
B) Canada
C) Japan
D) America

Question 35

_______________ pay the entire cost of workers' compensation insurance.

A) Employees
B) State agencies
C) The federal government
D) Employers

Question 36

Which of the following is not and objective of unemployment insurance?

A) To provide periodic cash income to workers during short periods of involuntary unemployment.
B) To help the unemployed find jobs.
C) To encourage employers to downsize in order to increase productivity and national competitiveness.
D) To stabilize the labor supply by providing benefits so that skilled and experienced workers are not forced to seek other jobs during short-term unemployment.

Question 37

Employees who incur expenses as a result of job-related illnesses or accidents receive a degree of financial protection from __________ benefits.

A) social security
B) workers' compensation
C) unemployment insurance
D) pension

Question 38

To be eligible for unemployment compensation,the employee must meet all of the following requirements except:

A) Be over the age of 18
B) Have worked a minimum number of weeks
C) Be without a job
D) Be willing to accept a suitable position offered through a state Unemployment Compensation Commission

Question 39

In most states,the weekly unemployment benefit amount equals _______________ of the worker's average earnings.

A) 100 percent
B) 75 percent
C) 50 percent
D) 25 percent

Question 40

_______________ initiated the first social security system,back in the 1880s.

A) Germany
B) Canada
C) England
D) Sweden

Question 41

A(n)____ is a medical organization consisting of medical and health specialists offering both outpatient and hospital coverage for a fixed monthly fee.

A) PPO
B) MBO
C) HMO
D) "full coverage" provider

Question 42

The Pregnancy Discrimination Act of 1978 requires ___________.

A) that paid leave be granted for pregnancy
B) that pregnancy be treated just like any other temporary disability
C) that both fathers and mothers be granted time off
D) Both A and C are correct.

Question 43

Any employee can make annual tax-free contributions to an individual retirement account (IRA)__________.

A) if he or she is not eligible for a company pension plan
B) if he or she is not enrolled in a company pension plan
C) even if he or she is already enrolled in a company pension plan
D) if he or she is not eligible for retirement through the VA

Question 44

Most elderly Americans believe that security in their later years rests on a three-legged stool consisting of all of the following except:

A) Social Security
B) Part-time employment
C) Personal savings
D) Private pensions

Question 45

In the United States,private pension participation is at _______________.

A) a static level
B) an all-time high
C) an all-time low
D) None of the above,participation is not tracked

Question 46

The _______________ rule was established as the standard for handling and investing pension plan funds.

A) wise man
B) prudent man
C) perfect man
D) virtuous man

Question 47

Sick leave is always funded ____________.

A) entirely by the employer
B) by the employee
C) by unemployment compensation insurance
D) by the Supplemental Security Income Agency

Question 48

The amount of life insurance typically offered by large companies equals _______________.

A) the amount of the employee's salary
B) two times the employee's salary
C) five times the employee's salary
D) ten times the employee's salary

Question 49

__________ is one of the oldest and most widely available employee benefits.

A) Sick pay
B) Vacation time
C) Medical Insurance
D) Group life insurance

Question 50

A(n)_______ is a health care plan based on agreements between doctors,hospitals,and other related medical service facilities with an employer or an insurance company.

A) PPO
B) MBO
C) HMO
D) "full coverage" provider

Question 51

A SEP is a/an _______________-financed individual retirement account.

A) company
B) employee
C) government
D) union

Question 52

COBRA typically allows employees who leave the company to extend their medical coverage,at ______ expense,for up to 18 months after termination.

A) company
B) their own
C) shared
D) government

Question 53

Reimbursements for graduate-level courses are __________.

A) taxable for employees
B) taxable for employers
C) not taxable for employees
D) Both A and B are correct.

Question 54

______ funds are tax-deferred until the employee retires.

A) IRA
B) SEP
C) PPO
D) Both A and B are correct.

Question 55

Studies indicate that employees prefer _______ over most other benefits.

A) health insurance
B) vacation time
C) retirement benefits
D) sick time

Question 56

Vesting _________________.

A) is an award process that is part of the Lincoln plan
B) is a version of vestibule training where the trainee is in process but off line
C) is the right to participate in a pension plan
D) refers to the taxable status of pensions

Question 57

A ____________ pension plan specifies the benefit workers will get at retirement.

A) defined
B) defined benefit
C) defined contribution
D) fixed

Question 58

A ____________ pension plan usually specifies the employer's contribution but cannot predetermine the employee's actual pension benefit.

A) defined
B) defined benefit
C) defined contribution
D) fixed

Question 59

Employees must have been employed for _______________ to be eligible for unpaid leave under the Family and Medical Leave Act.

A) 1 day
B) 30 days
C) 6 months
D) 1 year

Question 60

________ must provide cost-efficient health care and emphasize cost containment in order to compete.

A) PPOs
B) MBOs
C) HMOs
D) Both A and C are correct.

Question 61

Studies of companies offering child care assistance reveal that,after implementation,absenteeism and turnover fall while _______________ soars.

A) productivity
B) job satisfaction
C) loyalty
D) All of the choices are correct.

Question 62

How does unemployment compensation in Canada and Europe differ from that provided in the United States?

Question 63

Briefly describe the Pregnancy Discrimination Act.

Question 64

__________ is the right to transfer pension credits accrued from one employer to another.

A) Vesting
B) Portability
C) Transferability
D) Convertibility

Question 65

Examples of employee services include all of the following except:

A) Sick pay.
B) Cafeterias.
C) Infirmaries.
D) Ability to purchase company products at a discount.

Question 66

___________ accounts provide funds from which employees pay for expenses not covered by the regular benefits package.

A) Reimbursement
B) Extraordinary spending
C) Cafeteria
D) Both A and B are correct.

Question 67

Of the employees who are eligible to participate in tuition reimbursement programs,85 percent:

A) Fail to take advantage of the program
B) Take advantage of the program
C) Never sign up for the program
D) Abuse the program

Question 68

What are the objectives of unemployment insurance?

Question 69

On average,employees who provide assistance to one or more elderly relatives or friends spend _______________ per week providing this care.

A) 1 to 3 hours
B) 4 to 10 hours
C) 6 to 35 hours
D) 10 to 20 hours

Question 70

Identify five major groups of employees who are excluded from unemployment insurance coverage.

Question 71

What does individual equity mean,as it pertains to Social Security,and does it still exist?

Question 72

How are PPOs and HMOs similar?

Question 73

Many companies encourage employees to purchase company stock to ______________.

A) increase their incentive to work
B) Increase their satisfaction
C) to reduce absenteeism and turnover
D) All of the above are correct.

Question 74

Why are vacation benefits typically more generous in Europe than in the US? What would be needed to get these levels of benefits mandated in the US?

Question 75

What is the ultimate goal of a "managed disability" approach to worker injuries?

Question 76

Identify five common types of voluntary paid leave.

Question 77

Employees are allowed to receive $5,250 of tax-free educational assistance from their employers per _______________.

A) month
B) job title
C) quarter
D) year

Question 78

All HMOs have one element in common.What is it?

Question 79

When companies have thrift plans,about _______________ of employees participate.

A) 85 percent
B) 50 percent
C) 24 percent
D) 8 percent

Question 80

Company-sponsored sports activities are intended to _____________.

A) keep employees physically fit
B) tie employees to their employers
C) Increase productivity
D) Both A and B are correct.