I will pay more for the questions. I did not intend to say $15.00. I can give the rest in bonus. I am still waiting to hear back from you to see if you can answer these questions for me.
Questions 1—20: Select the one best answer to each question.
1. Joe is 27 years old and was in a car accident in July 2003. He was paralyzed from the neck down and is now in a wheelchair. Joe attended college and graduated in 1999. He got his first job in July 1999, with an annual salary of $20,000, immediately after graduation and worked for the same company until the day of his accident with annual salary increases. Is Joe eligible for Social Security disability insurance? Why, or why not?
A. Yes; at the age of 27 Joe would need only three years of work credit to be eligible, and he has four years of work credit.
B. Yes; he's currently insured due to having at least six quarters of coverage out of the last 13-quarter period. —
C. No; Joe doesn't have enough work credit due to not H beginning his career until 1999.
D. No; Joe didn't make enough money during his employment.
2. Which of the following was the major cause of payroll deductions
A. Medical insurance
B .Life insurance —
C. Social Security and Medicare taxes
D. Educational assistance
3. Expanding the employee benefit program during a wage
freeze is a good idea if
A. the employer wants to save money.
B. people can get jobs easily.
C. employee morale is low.
D. business is slow.
4. Which of the following has contributed the mot to the high cost of employee benefits
A, Hospitalization insurance --
B. Paid vacations
C. Long-term disability coverage
D. Life insurance benefits
5. Eligibility for Social Security benefits depends upon an individual's credit for a minimum amount of work under the program. What is this credit based upon?
A. Earnings per year
B. Monthly premiums
C. Special savings requirements
D. Quarters of coverage
6. Which of the following important elements should be established before the benefit- planning process?
B. Medical insurance rates
7. If an employee is in a before he or she can receive medical insurance, which of the following may be offered by an employer at the employee's expense?
8. Which of the following is the increasingly accepted method for determining employee benefit needs?
A. Competitor analysis
B. Collectively bargained benefits
C. Employer perception of employee needs
D. Marketing research if
9. Which of the following would be the best approach in determining the needs of employees using marketing research?
A. Conduct personal interviews
with employees, then conduct a competitive analysis to determine what your competitors are offering.
B. Give employees questionnaires with open-ended questions so that they may express their concerns about the benefit plan.
C. Conduct a meeting with senior management to determine what benefit changes should be made.
D. Conduct personal interviews or have employees complete questionnaires with closed-ended questions, followed up with additional interviews and/or more detailed questionnaires.
10. Which of the following would be an appropriate employer objective?
A. To establish and maintain an employee benefit program that rewards the efforts of the employees
B. To implement an annual increase of 3% in the salary of management employees
C. To provide Prudential medical insurance to all employees
D. To establish a holiday bonus plan for the years 2003 and 2004
11. Which of the following communication devices is federally mandated?
A. Employee Retirement Income Security Act
B. Face-to-face meetings with employees to be sure everyone understands the plan
C. Written communication explaining in-depth benefit plan
D. Computer access for each employee to retrieve benefit information 24 hours a day
12. Social Security benefits are financed mostly by
A. payroll taxes paid by employees, employers, and the self-employed.
B. the Internal Revenue Service.
C. income tax.
D.. federal government.
13. At age 23, how many years of credit would you need under Social Security to qualify for disability benefits?
A. Five years
B. One and a half years
C. 10 years
D. Five out of 10 years
14. If either parent died today, what benefit would a student under the age of 18 most
likely qualify for?
A. Retirement benefits
B. Disability benefits
D. Survivors benefits
15. What is the most years of work credit you would need under Social Security to qualify for retirement benefits?
A. Five years .
B. Five out of the past 10 years
C. 10 years
D. 20 years
16. If there were a time of high unemployment
and the Social Security taxes being collected weren't enough to pay benefits, where would the government get more money to pay these benefits?
A. Employee pension funds
B. U.S. Treasury emergency fund -
C. Unemployment insurance
D. Social Security and Medicare trust fund reserves
17. The main objective of unemployment insurance is to
A. assist the employer in acquiring appropriate personnel in times of need.
B. assist the federal government in tracking the unemployment rate.
C. provide temporary
monetary assistance when an employee is between employers.
D. provide funding to the Social Security and Medicare programs.
18. The purpose of allowing Social Security reserves to build up is to
A. make it possible to pay current benefits to more people.
B. permit Social Security to be able to pay benefits to people retiring in the future, when there will be fewer workers and more beneficiaries.
C. have money on hand to use when there's a need for a higher payout of benefits than is being collected.
D. have money on hand in case of a U.S. catastrophe.
19. If you were laid off from your job and became temporarily disabled while still unemployed, which of the following states would you hope to be living in?
C. New Jersey
20. How will the 65-year-old wife of a 63-year-old fully insured employee have to pay for her Part A Medicare?
A. She won't have to pay for her Part A Medicare.
B. She will have to pay monthly premiums and will be supplemented from federal revenues.
C. Through a flat tax on income up to a certain amount
D. Through the old age and survivors' trust fund