Question 1

Which of the following statements is true of part-time employees?

Accepted Answer

A)   Anti-discrimination laws enable part-time employees to receive the same benefits as full-time employees are offered.
B)   Most employers in the United States do not provide any part-time employee benefits, except some paid time off.
C)   Part-time employees typically make no effort to attain benefits because they are covered by their spouse's or parents' insurance policies.
D)   Most employers provide part-time employees medical benefits, but no time-off benefits because these employees already work on a short schedule.E) A) and C)
F) None of the above

Question 2

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

Accepted Answer

A)   It has set the maximum retirement age for employees to be eligible for retirements benefits at 60 years.
B)   The Age Discrimination in Employment Act was enacted in 1990 as an amendment to the OWBPA.
C)   It sets forth certain conditions that must be met when older workers are offered early retirement.
D)   The Older Workers Benefit Protection Act did not cover employees in the government sector.E) B) and D)
F) C) and D)

Question 3

What are the advantages of using paid paid-time-off (PTO) plans?

Accepted Answer

A growing number of employers have made ...

Question 4

How do employee benefits provide competitive advantage to employers?

Accepted Answer

A benefit is a tangible indirect reward ...

Question 5

Glen, a line manager, is informed that his company would be introducing a stock purchase plan for employees. This implies that:

Accepted Answer

A)   the employer will provide company stocks to employees as incentives.
B)   Glen will be given a few company stocks for free, which he can later sell at the market rate.
C)   Glen can buy shares in the company at a discount.
D)   Glen would be provided financial counseling on the purchase and sale of stocks.E) B) and D)
F) None of the above

Question 6

Arexa, a toy manufacturing company allows its employees to select the benefits that they would like to attain from a list of options established by the company. What are such benefit plans called? What are the advantages and disadvantages of using such benefit plans?

Accepted Answer

The company is offering flexible benefit...

Question 7

Why are employee contributions to health plans in companies increasing?

Accepted Answer

Employees are usually required to pay a ...

Question 8

Why is the communication of benefits important for the efficient functioning of a company?

Accepted Answer

Employees generally do not know much abo...

Question 9

John is a part-time employee in a publishing company. Is he eligible to receive benefits?

Accepted Answer

He is eligible to receive benefits. Some...

Question 10

What are the legal regulations regarding early retirement in U.S. companies?

Accepted Answer

Many pension plans include provisions fo...

Question 11

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

Accepted Answer

A)   It requires that employers allow employees to take a maximum of 12 weeks of paid leave for caring for a spouse, child, or parent with a serious health condition.
B)   It requires that employers allow employees to take a maximum of 12 weeks of unpaid, job-protected leave for foster care placement of a child.
C)   It requires that employers allow employees to take a maximum of 12 weeks of unpaid leave during the birth of a child but not for the adoption of a child.
D)   It requires that employers allow employees to take a maximum of 12 weeks of paid, job-protected leave babysitting their 5-7 year old children during their vacations.E) B) and D)
F) B) and C)

Question 12

What is workers' compensation? Explain.

Accepted Answer

Workers' compensation provides benefits ...

Question 13

The federal government mandates a minimum of two weeks severance pay for older employees who are asked to retire early.

Accepted Answer

A) True 
 B)False

Question 14

Linda works in a company that pays for the medical insurances of all its employees. However, every time she visits her physician, she is charged $25. Her medical insurance covers the rest of the fee. This is an example of:

Accepted Answer

A)   managed care.
B)   consumer-driven health plan.
C)   a copayment.
D)   an HMO.E) None of the above
F) A) and C)

Question 15

Long-term disability insurance provides continuing income protection for employees who become disabled and are unable to work.

Accepted Answer

A) True 
 B)False

Question 16

The Family and Medical Leave Act (FMLA)  defines a _____ as one requiring in-patient, hospital, hospice, or residential medical care or continuing physician care.

Accepted Answer

A)   medical leave event
B)   serious health condition
C)   life-threatening illness
D)   qualifying eventE) A) and C)
F) C) and D)

Question 17

In developed countries, _____ are far more likely to provide compulsory health plans for people, regardless of employment status.

Accepted Answer

A)   privately owned organizations
B)   governments
C)   non-governmental organizations
D)   unionsE) A) and D)
F) A) and C)

Question 18

Employees find 401(k) plans unattractive because these plans require employees to pay higher income taxes during working years.

Accepted Answer

A) True 
 B)False

Question 19

Research has shown that absenteeism because of illness is lower when employees are not paid for sick time.

Accepted Answer

A) True 
 B)False

Question 20

A situation in which only higher-risk employees choose and use certain benefits under a flexible benefits plan provided by employers is referred to as _____.

Accepted Answer

A)   concentration of risk
B)   perceived vulnerability
C)   adverse selection
D)   skewed distribution effectE) All of the above
F) A) and B)

Exam 13: Managing Employee Benefits

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

Correct AnswerverifiedShow Answer

Research has shown that absenteeism because of illness is lower when employees are not paid for sick time.

Correct AnswerverifiedShow Answer

What are the advantages of using paid paid-time-off (PTO) plans?

Correct AnswerverifiedA growing number of employers have made ...View AnswerShow Answer

What is workers' compensation? Explain.

Correct AnswerverifiedWorkers' compensation provides benefits ...View AnswerShow Answer

What are the legal regulations regarding early retirement in U.S. companies?

Correct AnswerverifiedMany pension plans include provisions fo...View AnswerShow Answer

The federal government mandates a minimum of two weeks severance pay for older employees who are asked to retire early.

Correct AnswerverifiedShow Answer

How do employee benefits provide competitive advantage to employers?

Correct AnswerverifiedA benefit is a tangible indirect reward ...View AnswerShow Answer

John is a part-time employee in a publishing company. Is he eligible to receive benefits?

Correct AnswerverifiedHe is eligible to receive benefits. Some...View AnswerShow Answer

Why is the communication of benefits important for the efficient functioning of a company?

Correct AnswerverifiedEmployees generally do not know much abo...View AnswerShow Answer

In developed countries, _____ are far more likely to provide compulsory health plans for people, regardless of employment status.

Correct AnswerverifiedShow Answer

Employees find 401(k) plans unattractive because these plans require employees to pay higher income taxes during working years.

Correct AnswerverifiedShow Answer

The Family and Medical Leave Act (FMLA) defines a _____ as one requiring in-patient, hospital, hospice, or residential medical care or continuing physician care.

Correct AnswerverifiedShow Answer

Linda works in a company that pays for the medical insurances of all its employees. However, every time she visits her physician, she is charged $25. Her medical insurance covers the rest of the fee. This is an example of:

Correct AnswerverifiedShow Answer

Which of the following statements is true of part-time employees?

Correct AnswerverifiedShow Answer

Why are employee contributions to health plans in companies increasing?

Correct AnswerverifiedEmployees are usually required to pay a ...View AnswerShow Answer

A situation in which only higher-risk employees choose and use certain benefits under a flexible benefits plan provided by employers is referred to as _____.

Correct AnswerverifiedShow Answer

Arexa, a toy manufacturing company allows its employees to select the benefits that they would like to attain from a list of options established by the company. What are such benefit plans called? What are the advantages and disadvantages of using such benefit plans?

Correct AnswerverifiedThe company is offering flexible benefit...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Long-term disability insurance provides continuing income protection for employees who become disabled and are unable to work.

Correct AnswerverifiedShow Answer

Glen, a line manager, is informed that his company would be introducing a stock purchase plan for employees. This implies that:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A growing number of employers have made ...
View Answer

Correct Answer
verified
Workers' compensation provides benefits ...
View Answer

Correct Answer
verified
Many pension plans include provisions fo...
View Answer

Correct Answer
verified

Correct Answer
verified
A benefit is a tangible indirect reward ...
View Answer

Correct Answer
verified
He is eligible to receive benefits. Some...
View Answer

Correct Answer
verified
Employees generally do not know much abo...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Employees are usually required to pay a ...
View Answer

Correct Answer
verified

Correct Answer
verified
The company is offering flexible benefit...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified