GBA/RPA 3 for CEBS
GBA/RPA 3 Tibble v Edison - CORRECT ANSWER: ??
DOL Audit - CORRECT ANSWER: % of Unacceptable-Major deficiencies that affected
overall quality of audit = 40%
SPD Initial distribution - CORRECT ANSWER: Must be distributed within 120 days after
plan becomes subject to ERISA disclosure requirements.
Skilled nursing facility benefits under M-care Part A - CORRECT ANSWER: Only if
there has been a hospitalization of 3 days
Typical costs of an administrative claims audit - CORRECT ANSWER: Cost for self-
funded health plan is typically less than 1% of total annual claims spending
What is in an auditor's letter following an audit - CORRECT ANSWER: Should include
Significant difficulties encountered during the audit, and The process management used to
develop accounting estimates, including fair market value estimates, and the basis for the
auditor's conclusions as to the reasonableness of those estimates.
Data collection associated with wellness programs - CORRECT ANSWER: Confidentially
protections: Employees should be made aware that wellness programs might involve
privacy risks.
Health reimbursement arrangements (HRAs) - CORRECT ANSWER: Any amount not
used by an employee by the end of the plan year can be carried over to the next plan year
at the employer's discretion.
Home Health Agency (HHA) care - CORRECT ANSWER: HHA may be provided in the
residence of a home bound beneficiary
Payroll taxes and employee benefit plans - CORRECT ANSWER:
EEs and ERs pay the same rate of payroll taxes on wages up to the SS tax wage base.
Distributions from a tax-sheltered retirement plan will be subject to income taxes but not
to any payroll taxes.
FASB ASC Topic 960 Accounting and Reporting standard - CORRECT ANSWER: The
actuarial present value of accumulated plan benefits should be based on employees'
earnings and service rendered before the measurement date.
GBA/RPA 3 Tibble v Edison - CORRECT ANSWER: ??
DOL Audit - CORRECT ANSWER: % of Unacceptable-Major deficiencies that affected
overall quality of audit = 40%
SPD Initial distribution - CORRECT ANSWER: Must be distributed within 120 days after
plan becomes subject to ERISA disclosure requirements.
Skilled nursing facility benefits under M-care Part A - CORRECT ANSWER: Only if
there has been a hospitalization of 3 days
Typical costs of an administrative claims audit - CORRECT ANSWER: Cost for self-
funded health plan is typically less than 1% of total annual claims spending
What is in an auditor's letter following an audit - CORRECT ANSWER: Should include
Significant difficulties encountered during the audit, and The process management used to
develop accounting estimates, including fair market value estimates, and the basis for the
auditor's conclusions as to the reasonableness of those estimates.
Data collection associated with wellness programs - CORRECT ANSWER: Confidentially
protections: Employees should be made aware that wellness programs might involve
privacy risks.
Health reimbursement arrangements (HRAs) - CORRECT ANSWER: Any amount not
used by an employee by the end of the plan year can be carried over to the next plan year
at the employer's discretion.
Home Health Agency (HHA) care - CORRECT ANSWER: HHA may be provided in the
residence of a home bound beneficiary
Payroll taxes and employee benefit plans - CORRECT ANSWER:
EEs and ERs pay the same rate of payroll taxes on wages up to the SS tax wage base.
Distributions from a tax-sheltered retirement plan will be subject to income taxes but not
to any payroll taxes.
FASB ASC Topic 960 Accounting and Reporting standard - CORRECT ANSWER: The
actuarial present value of accumulated plan benefits should be based on employees'
earnings and service rendered before the measurement date.
