HRMN 5470 FINAL QUESTIONS WITH VERIFIED
ANSWERS
In the 1930s, how did unions influence businesses offering discretionary benefits to their
employees? - Answers - By pushing for the National Labor Relations Act, which
legitimized bargaining for benefits
Which of the following was established in 1759 to assist the widows and children of
Presbyterian ministers? - Answers - Pension plans
Which act legitimized bargaining for employee benefits? - Answers - National Labor
Relations Act
Which of the following factors has led to increased offering of flexible benefit plans for
employees? - Answers - Workforce diversity
According to the U.S. Bureau of Labor Statistics, diversity in the United States is likely
to _____________, leading to _______________ demand for flexible benefit plans. -
Answers - increase; increased
Under which of the three broad categories for discretionary benefits does disability
insurance fall? - Answers - Protection programs
What are the three categories of discretionary benefits? - Answers - Protection, paid
time off, and services
________________ refers to the minimum amount of time an employee must wait after
becoming disabled before receiving disability payments - Answers - The elimination
period
Each of the following is a benefit of integrated paid time-off policies EXCEPT: - Answers
- Bereavement or funeral leave is incorporated into the paid time-off bank
Which of the following is the most common form of defined contribution plan? - Answers
- 401(k) plan
The services category of discretionary benefits does NOT include ______________ -
Answers - health insurance
Of the following, which is NOT regulated by ERISA (Employee Retirement Income
Security Act of 1974)? - Answers - Social Security
, Participation requirements are applicable to ________________? - Answers - pension
plans
A cliff vesting schedule requires that an employee be 100 percent vested after
________ years of service. - Answers - 3
Which government agency levies penalties against companies and individuals who
violate the IRC? - Answers - The IRS
According to ERISA, employees must be allowed to participate in pension plans after
they have reached 21 years of age and ________________. - Answers - completed 1
year of service
Which of the following is NOT true of the Pension Benefit Guaranty Corporation
(PBGC)? - Answers - It protects employees' health benefits
Which of the following acts extended employees' rights in the area of defined
contribution plans? - Answers - Pension Protection Act
How can employers involve employees in the benefits determination process? -
Answers - By conducting employee interviews and focus groups
With regard to financing programs, what are the three categories from which human
resource managers can choose? - Answers - Noncontributory programs, contributory
programs, and employee-financed programs
Which of the following plans is designed to best meet the needs of a diverse group of
employees? - Answers - Cafeteria plans
The costs for discretionary benefits ____________________ - Answers - accounted for
nearly 25 percent of total compensation costs in 2014
__________________ plans use a set level of benefits for some discretionary benefits
such as medical insurance, and then allow employees to choose from benefit options
that suit their needs - Answers - Core plus option
The costs of employee benefits have grown considerably; the growth in funds available
to support overall employee compensation has ______________ - Answers - stagnated
What is an advantage associated with offering discretionary benefits? - Answers - They
can promote particular employs behaviors that have strategic value
What is a potential cost associated with extensive discretionary benefits programs? -
Answers - They may also undermine the imperatives of strategic compensation efforts
ANSWERS
In the 1930s, how did unions influence businesses offering discretionary benefits to their
employees? - Answers - By pushing for the National Labor Relations Act, which
legitimized bargaining for benefits
Which of the following was established in 1759 to assist the widows and children of
Presbyterian ministers? - Answers - Pension plans
Which act legitimized bargaining for employee benefits? - Answers - National Labor
Relations Act
Which of the following factors has led to increased offering of flexible benefit plans for
employees? - Answers - Workforce diversity
According to the U.S. Bureau of Labor Statistics, diversity in the United States is likely
to _____________, leading to _______________ demand for flexible benefit plans. -
Answers - increase; increased
Under which of the three broad categories for discretionary benefits does disability
insurance fall? - Answers - Protection programs
What are the three categories of discretionary benefits? - Answers - Protection, paid
time off, and services
________________ refers to the minimum amount of time an employee must wait after
becoming disabled before receiving disability payments - Answers - The elimination
period
Each of the following is a benefit of integrated paid time-off policies EXCEPT: - Answers
- Bereavement or funeral leave is incorporated into the paid time-off bank
Which of the following is the most common form of defined contribution plan? - Answers
- 401(k) plan
The services category of discretionary benefits does NOT include ______________ -
Answers - health insurance
Of the following, which is NOT regulated by ERISA (Employee Retirement Income
Security Act of 1974)? - Answers - Social Security
, Participation requirements are applicable to ________________? - Answers - pension
plans
A cliff vesting schedule requires that an employee be 100 percent vested after
________ years of service. - Answers - 3
Which government agency levies penalties against companies and individuals who
violate the IRC? - Answers - The IRS
According to ERISA, employees must be allowed to participate in pension plans after
they have reached 21 years of age and ________________. - Answers - completed 1
year of service
Which of the following is NOT true of the Pension Benefit Guaranty Corporation
(PBGC)? - Answers - It protects employees' health benefits
Which of the following acts extended employees' rights in the area of defined
contribution plans? - Answers - Pension Protection Act
How can employers involve employees in the benefits determination process? -
Answers - By conducting employee interviews and focus groups
With regard to financing programs, what are the three categories from which human
resource managers can choose? - Answers - Noncontributory programs, contributory
programs, and employee-financed programs
Which of the following plans is designed to best meet the needs of a diverse group of
employees? - Answers - Cafeteria plans
The costs for discretionary benefits ____________________ - Answers - accounted for
nearly 25 percent of total compensation costs in 2014
__________________ plans use a set level of benefits for some discretionary benefits
such as medical insurance, and then allow employees to choose from benefit options
that suit their needs - Answers - Core plus option
The costs of employee benefits have grown considerably; the growth in funds available
to support overall employee compensation has ______________ - Answers - stagnated
What is an advantage associated with offering discretionary benefits? - Answers - They
can promote particular employs behaviors that have strategic value
What is a potential cost associated with extensive discretionary benefits programs? -
Answers - They may also undermine the imperatives of strategic compensation efforts
