Question

Variable pay is:

		a payment made to a supplier in multiple installments.
		compensation awarded on the basis of individual results or performance.
		a payment made to employees based on willingness to work overtime.
		compensation that varies based on the number of hours an employee works.
		compensation based on the reduction of the company's variable costs.

2 points   

QUESTION 8

Under the ACA, an “affordable plan” means one which

		costs less than on the state's exchange
		will not exceed 9.5% of an employee's take-home pay
		costs less than 15% of the national average household income
		will not exceed 9.5% of employee's household income

2 points   

QUESTION 9

Workers' compensation is mandatory

		only in California and Massachusetts
		in 48 of 50 states
		in all 50 states and US territories
		only in the right-to-work states

2 points   

QUESTION 10

Meghan's organization offers several sets of benefits. One set would appeal to young single employees because it provides more paid time off for personal activities and no reimbursements for child care expenses. Another set would likely appeal parents with young children because it does provide child care reimbursements and other benefits important to parents such as life insurance. Meghan's organization is offering a _______ flexible benefits plan.

		core-plus
		modular
		defined benefit
		full-choice

2 points   

QUESTION 11

What is the earliest age at which an eligible worker can retire and still receive his/her Social Security retirement benefits?

		67
		62
		65
		60
		55

2 points   

QUESTION 12

Abigail runs a small business of 55 employees. She is working hard to find a way to provide health benefits to all her employees by 2016 to be in compliance with __________.

		the Family Medical Leave Act
		Social Security
		the Affordable Care Act
		Medicare

2 points   

QUESTION 13

Laura's organization provides group health insurance that covers a set percentage of fees for medical services such as doctors or in-patient care. It allows her to go to any doctor or provider. Her group health insurance is a ________.

		health savings account service
		fee-for-service plan
		health maintenance organization
		preferred provider organization

Answer 1

1) Variable pay is:

Answer = Compensation awarded on the basis of individual results or performance.

• Variable pay is an incentive or bonus employers pay to employees whose performance meets or exceeds company expectations

2) Under the ACA, an “affordable plan” means one which

Answer = Will not exceed 9.5% of employee's household income

3) Workers' compensation is mandatory

Answer = In 48 of 50 states

4) Meghan's organization offers several sets of benefits. One set would appeal to young single employees because it provides more paid time off for personal activities and no reimbursements for child care expenses. Another set would likely appeal parents with young children because it does provide child care reimbursements and other benefits important to parents such as life insurance. Meghan's organization is offering a _______ flexible benefits plan.

Answer = Modular