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43 Cards in this Set
- Front
- Back
The total cost of employee benefits in the U.S. is _____ dollars.
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four trillion
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In 1959, benefits were approximately _____ percent of payroll and in 2010, the percent was ____.
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25; 30
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All of the following factors are reasons for the growth of benefits except:
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foreign competition.
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Which of the following benefits are not mandated by state or federal legislation?
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Pensions
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The typical employee can recall _____ percent of the benefits they receive. |
less than 15
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Advantages of employer sponsored life and health insurance include all of the following except: |
employees can choose coverage levels. |
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Surveys show that the most highly valued benefit is:
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medical insurance. |
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Across five studies ranking preference for benefits, __________ had the lowest average rating.
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Long-term disability |
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A study of the factors affecting MBA students' job choice showed _____ was ranked as least important.
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employee benefits |
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Which of the following is not a major benefits planning and design issue?
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Diversity compliance |
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A recent survey shows that the majority of employers are responding to increased benefit costs by _______.
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requiring employees to pay higher deductibles and copays |
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The first issue in setting up a benefits package is:
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who should be protected or benefited. |
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Which of the following is not a benefit administration issue?
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Benefit adequacy |
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In the _____ benefit package, a package is designed with the average employee in mind.
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standard |
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A type of benefit plan that allocates a set dollar amount to employees and allows them to select benefits is called _____ plan.
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flexible benefit |
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_____ is/are the primary reason why businesses adopt flexible benefit programs.
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Cost savings |
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A major approach to increasing employee awareness of health care choices and cost is:
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cafeteria plans. |
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Which of the following is not a disadvantage of flexible benefit programs?
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New benefits are more difficult to introduce. |
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All of the following are advantages of flexible benefits except:
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administrative expenses increase. |
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Tiered networks, managed competition and health savings accounts are all examples of choices for _____________
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customer-driven health care. |
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_____ is not an example of an approach to customer-driven health care.
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Cafeteria plans |
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A _____ is an employer-provided subsidized basic medical plan with buy-up options.
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managed competition |
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A customer-driven health care plan that offers employees a choice of medical plans that include systems of varying cost is the:
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tiered networks. |
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Alternatives to financing benefit plans include all of the following except:
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401K. |
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Employers prefer contributory benefits financing for all except which of the following?
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more favorable tax treatment. |
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All of the following except _____ are factors affecting employer choices of components of a benefits package.
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equity |
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The best way for companies to decide whether or not the company can afford a benefit is on a _____ basis.
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cost-centered |
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Which of the following is not a part of the cost-centered approach for deciding to provide a benefit?
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Basing benefits on historical costs |
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The most widely used benefit survey is conducted by:
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the U. S. Chamber of Commerce. |
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Various studies have found that only two specific benefits curtailed employee turnover: _____ and ____.
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pensions; medical coverage |
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A recent survey shows employees ranking employee benefits __________ in explaining job satisfaction.
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second |
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Which of the following benefits has been found to increase productivity in organizations?
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No benefit has been found to increase productivity. |
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_____ mandates 12 weeks of leave for all workers at companies that employ 50 or more people.
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FMLA 1993 |
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_____ allows employees who have resigned or were laid off to continue to purchase health insurance under their employer's plan.
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COBRA 1984 |
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The __________ act requires individuals to maintain minimal essential health insurance coverage or pay a penalty unless exempted for religious beliefs or financial hardship.
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Patient Protection and Affordable Care Act |
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_____ is/are one of the most preferred benefits.
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Stock plans |
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_____ is/are not a method of determining employee benefit preferences.
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Competitor pay surveys |
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_____ is the most frequent method of benefit communication.
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An employee benefit handbook |
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A primary benefits objective of most employers is to:
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increase employee understanding of plan objectives. |
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All of the following are advantages of managing benefits via the internet or intranet except:
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employees have fewer interactions with HR staff. |
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All of the following are cost containment practices except: |
physical exams of all new hires. |
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The biggest trend in cost-containment is:
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outsourcing.
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Which of the following would an employer be least likely to use if they sought to reduce benefit costs? |
Defined benefit plans |