10.8 End of Topic Review--Test 10 - Benefits

The 403(b) plan is a tax-advantage retirement savings plan available to whom? -Public employers -Private organizations -Public education employers -Large organizations

Public education employers (10.4)

When did benefits become much more popular? -After WWI -After the Civil War -After the Korean War -After WWII

After WWII (10.2)

Which of the following flexible compensation packages sometimes lets employees elect to receive cash amounts rather than benefits? -Flexible spending account -Modular plan -Core-plus-option plan -Flexible insurance

Core-plus-option plan (10.6)

There are a few things that employers can do to help indirect compensation have a better impact on the gains of the company. Which of the following is not something that employers should do? -Have more employee participation in the design of benefit packages -Decrease communication of the benefits packages so fewer employers use them and costs go down -Increase communication -Have employees be more involved in the selection of benefit packages

Decrease communication of the benefits packages so fewer employers use them and costs go down (10.7)

Which of the following things is least effective for a company to do in order to help employees value the company's indirect compensation package? -Be sensitive to the fact that not all compensation is seen as a reward by all employees -Do nothing, since indirect compensation is valued as highly as direct compensation by all employees -Be sensitive to the fact that all compensation is not always valued by all employees -Make an attempt to match rewards with employee preferences

Do nothing, since indirect compensation is valued as highly as direct compensation by all employees (10.1)

Which of the following covers short-term absences because of sickness? -Long-term disability insurance -Short-term disability insurance -Health insurance programs

Health insurance programs (10.5)

Which of the following is not a goal of indirect compensation? -Increasing employee morale -Enhancing the organization's image -Increasing job satisfaction -Increasing turnover

Increasing turnover (10.2)

Which of the following employee costs is becoming much more of a concern for employers? -Indirect compensation -Direct compensation

Indirect compensation (10.1)

Which of the following is not included in the Affordable Care Act? -Medicaid eligibility is expanded -Insurers may deny coverage to those with pre-existing conditions -Individuals are mandated to have a health insurance policy -Minimum standards are set for health insurance policies

Insurers may deny coverage to those with pre-existing conditions (10.5)

Which of the following is not a mandatory benefit that employers must provide for their employees? -Unemployment insurance -Short- and long-term disability -Social Security -Workers compensation

Short- and long-term disability (10.3)

How does fraud usually occur, with regard to unemployment insurance? -The employee collects money from unemployment even though they were fired for good reason -Fraud usually doesn't take place with unemployment insurance -The employee collects money from unemployment while he/she is working another job -The employee collects money from unemployment for a job they are still working at

The employee collects money from unemployment while he/she is working another job (10.3)

Which of the following correctly describes a PPO (preferred provider organization) plan? -The employee must choose a primary care physician in the network and all referrals must be provided by in-network physicians of the doctor's choosing -The employee usually chooses a primary care physician in the network, who refers the employee to other doctors if needed -The employee must go to a doctor on the preferred provider list -Employees have freedom to visit any doctor for any reason, with a minimum out-of-pocket expense for the employee

The employee must go to a doctor on the preferred provider list (10.5)

Who usually pays the insurance premiums for workers compensation in most states? -The employee -The federal government -The state -The employer

The employer (10.3)

Who pays for defined benefit retirement plans? -The federal government -The employer -The employee -The state

The employer (10.4)

What do organizations use utilization reviews for? -To assess the cost of benefits -To assess the cost of overhead -To assess the cost of wages -To assess the cost of products produced

To assess the cost of benefits (10.6)

Which of the following concerns faced by employers is not a current concern regarding employee benefits? -Wage rates -Health-care cost containment -Family issues -Legislatively mandated benefits

Wage rates (10.1)

True or False: Social Security only includes Medicaid.

false (10.3)

True or False: Benefits packages are only selected on the basis of what is good for the employee.

false (10.6)

True or False: Direct and Indirect compensation share many of the same purposes for organizations.

true (10.2)

True or False: Organizations are focusing on designing and customizing benefits to be as cost-effective as possible.

true (10.7)