1) Any indirect financial payments given to employees are known as:
A) commissions.
B) stock options.
C) employee benefits.
D) financial
... [Show More] incentives.
E) perquisites. - ANSWER C) employee benefits.
2) Outsourcing benefits administration to a third-party expert has the following advantage(s):
A) reduced cost and enhanced service.
B) increased employee understanding of benefits.
C) reduced cost.
D) fewer benefit claims.
E) greater efficiency and consistency, and enhanced service. - ANSWER E) greater efficiency and consistency, and enhanced service.
3) The following factor(s) is/are expected to increase the cost of benefits:
A) employee services.
B) looming labour shortage.
C) baby boomers.
D) advances in dental care.
E) pension plans. - ANSWER B) looming labour shortage.
4) The average cost of benefits, as a percentage of payroll, is approximately:
A) 50%. B) 25%. C) 10%. D) 30%. E) 37%. - ANSWER E) 37%
5) A government-sponsored program that provides weekly income benefits if a person is unable to
work through no fault of his/her own is usually called:
A) employment insurance.
B) strike pay.
C) severance pay.
D) sick pay.
E) termination pay. - ANSWER A) employment insurance.
6) The EI benefit is generally 55% of average earnings during the last 14 to 26 weeks of the:
A) benefit period.
B) qualifying period.
C) previous 52 weeks.
D) previous calendar year.
E) probationary period. - ANSWER B) qualifying period.
7) The purpose of an SUB plan is:
A) to supplement maternity leave.
B) to facilitate an agreement between an employer and the employees.
C) the result of collective bargaining.
D) to supplement EI benefits by receiving a combined benefit closer to the actual working wage.
E) to provide benefits separate from EI so that employees can better maintain their standard of
living during periods of unemployment. - ANSWER D) to supplement EI benefits by receiving a combined benefit closer to the actual working wage.
8) The three types of benefits provided under the Canada/Quebec Pension Plan are:
A) disability, survivor, old age security.
B) retirement, disability, survivor.
C) retirement, survivor, health care.
D) retirement, vacation, disability.
E) retirement, survivor, old age security. - ANSWER B) retirement, disability, survivor. [Show Less]