CEBS GBA Exam 1 Study Guide Questions with Complete solutions Latest Update 2026

CEBS GBA Exam 1 Study Guide Questions with Complete solutions Latest Update 2026 Broad view of Employee Benefits (Mod 1.1) - Correct Answer Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - Correct Answer Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result from the employment relationship and that are not underwritten or paid directly by the government; (Ex: Benefits excluded include those legally mandated - WC, SS). Impact of Labor Unions on Employee Benefits (Mod 1.2) - Correct Answer Through Collective Bargaining, Employee Benefit Plans have been impacted. In 1948 ruling states that the duty to bargain in good faith over wages also included insurance and fringes (pension). In WW Cross & Co, NLRB ruled wages included health and accident plan. What is the Taft-Hartley Act? (Mod 1.2) - Correct Answer The Labor Management Relations Act of 1947 is a United States federal law that restricts the activities and power of labor unions. This set forth good-faith collective bargaining over wages, hours, terms of employment and benefits. 3 Examples of Tax Advantages of Employee Benefit Plans (Mod 1.2) - Correct Answer 1: Employer Contributions are Tax Deductible 2: Employer Contributions are not considered income to Employees 3: Certain Retirement Benefits Accumulate Tax-Free until distributed. Examples of Questions that should be addressed when creating benefit objectives (Mod 1.3) - Correct Answer Ex: What benefits should be provided? Who should be covered? Should Employees have options? How should plan be financed? How should plan be administered? How should plan be communicated to Employees? What is the Functional Approach to Employee Benefit Planning? (Mod 1.4) - Correct Answer Application of a systematic method of analysis to an Employer's Total Employee Benefits Program. It analyzes the organization's EBP as a whole in terms of its ability to meet various employee's needs and to manage loss exposures with