Understanding Employee Benefits & Services: Indirect Compensation & Retention, Exercises of Nursing

Download Understanding Employee Benefits & Services: Indirect Compensation & Retention and more Exercises Nursing in PDF only on Docsity! 10-1 1 True / False Questions 1. The value of benefits and services has gone up over time relative to direct pay. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-01 Benefits and Corporate Strategy 2. Benefits will one day replace performance incentives as motivators. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-01 Benefits and Corporate Strategy 3. An employee making an annual salary of $50,000 will actually cost the organization 10-2 1 $100,000 in expenses for the company. FALSE Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-01 Benefits and Corporate Strategy 1 10-5 8. Employees usually seek employer-provided benefits and services because they cost less. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-05 Employee Objectives 9. Legally required benefits and services are important to the human resource department because mishandling these obligations can result in severe fines and more taxes. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-06 Legally Required Benefits 10. Employees with pre-existing medical conditions seek employer-provided benefits because the policies are sometimes unattainable otherwise. TRUE 1 10-6 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-05 Employee Objectives 11. Legally required benefits and services are important because they ensure that minimum levels of financial security are provided to the workforce. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-06 Legally Required Benefits 1 10-7 12. All legally required employee benefits and services fall under federal legislation. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-06 Legally Required Benefits 13. The Canada Pension Plan, Employment Insurance, and Workers' Compensation Acts are all examples of legally required indirect compensation policies. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-06 Legally Required Benefits 14. The Canada Pension Plan is a contributory benefit plan because employers pay all of the costs. FALSE 1 10-10 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 19. Employers in industries with similar hazards are collectively liable for payment to workers employed in that group who suffer accidental personal injury on the job. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 1 10-11 20. Employment insurance is an voluntary benefit that can be included in compensation packages at the employer's discretion. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 21. Canada's health and medical insurance is provided by the federal government with assistance from the provincial governments. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-08 Health Insurance Plans 22. Voluntary non-insurance benefits seek to ensure an income before and after retirement. TRUE 1 10-12 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-03 Discuss the voluntary benefits organizations may provide to their employees. Topic: 10-12 Income Security Benefits 23. Long-term disability insurance provides income to workers who are disabled for a prolonged period of time, usually at 50 or 60 percent of their working income. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Learning Objective: 10-03 Discuss the voluntary benefits orgainziations may provide to their employees. Topic: 10-11 Insurance Benefits 1 10-15 28. Personal leave days allow an employee to skip work for any reason and get paid. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-14 Paid Time-Off Benefits 29. Both provincial and federal governments regulate holidays and vacations. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-09 Holidays and Vacations 30. Offering group legal services as part of a flexible benefits program is an emerging trend in organizations today. FALSE Accessibility: Keyboard Navigation Blooms: Remember 1 10-16 Difficulty: Medium Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-17 Flexible Benefits 31. Offering employee discount plans is a new trend in organizations today. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-15 Employee Services 1 10-17 32. An employer-sponsored softball team and employee can be part of an indirect compensation program. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-15 Employee Services 33. Including services to lessen problems associated with substance abuse in an employee assistance program is illegal in Canada. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-15 Employee Services 34. Offering concierge services as part of employee benefit packages is becoming more common. TRUE 1 10-20 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-20 Implications for Human Resource Management 39. Comparing the company's benefits with those of the competition is one step a company can take to ensure it meets its long-term objectives. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-22 Benefits and Strategy Implications 1 10-21 40. Employee benefits and services are growing at twice the pace of wages and salaries. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-20 Implications for Human Resource Management 41. Innovative and flexible benefit plans are effective tools in attracting and retaining skilled staff. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-20 Implications for Human Resource Management 42. GST needs to be paid on child care benefits. FALSE 1 10-22 Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-21 Goods and Services Tax Application to Benefits Multiple Choice Questions 1 10-25 46. According to the Pension Benefits Standards Act, which of the following can fund a private pension plan? A. the employer B. a labour organization C. the employee D. an insurance company E. a union Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-13 Retirement Security 47. Integrating which of the following into the compensation package could help organizations achieve the long-term goal of retaining good employees? A. merit pay B. commissions C. a profit-sharing plan D. a piecework incentive E. spot awards Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-22 Benefits and Strategy Implications 1 10-26 48.Which of the following allows employees to shop for specific benefits and services from among those offered by the employer using an account that has a specific amount of money in it? A. health spending accounts B. wellness accounts C. concierge services D. flexible benefit programs E. employment insurance Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-17 Flexible Benefits 49.Which of the following is a legally required and provincially governed benefit that provides financial protection for workers? A. family allowances B. health insurance plans C. Canada Pension Plan D. insurance benefits E. income security benefits Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-08 Health Insurance Plans 1 10-27 50. Employers should do which of the following to keep ballooning benefit costs under control? A. introduce separate maximums for each paramedical service B. provide out-of-country medical coverage for personal travel C. ensure coverage across all benefit domains D. encourage employees to seek one month of prescription refills at a time E. introduce a health care spending account Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-20 Implications for Human Resource Management 51.Which of the following describes the Canada Pension Plan? A. a contributory plan that is mandatory for all self-employed persons and employees in Canada B. a plan whereby retirees receive a fixed dollar amount from their employer as a pension C. a plan whose benefits are defined by a formula based on age and length of service D. a pension plan that pays retirees a regular income based on investments in secure funds E. a plan that only returns their pension contributions if the employee leaves the organization before the vesting period passes. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 1 10-30 55.Which of the following is an example of an emerging trend in terms of the services offered by benefit plans? A. vision care B. life insurance C. prescription drug coverage D. long-term disability insurance E. employee wellness accounts Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-18 Emerging Services 56. Legally required health insurance plans refer to which of the following? A. crediting employees with a number of sick days for nonoccupational accidents B. specifying a limited number of days that employees are allowed to skip work C. the health and medical insurance provided by provincial and federal governments D. giving employees a break from the physical and mental efforts of a job E. assisting employees with personal problems Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-08 Health Insurance Plans 57. Acts entitling workers to some form of compensation in the event of personal workplace- related injury exist where? A. in all provinces except Quebec B. in all ten provinces but not in the three territories 1 10-31 C. in all ten provinces and all the territories D. only in Ontario, Manitoba, Saskatchewan, British Columbia, Nova Scotia, and Newfoundland E. in none of the provinces Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 1 10-32 58. Generally, GST/HST has to be paid on which of the following employee benefits? A. child care B. tuition fees C. health benefits D. car operating costs E. awards Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-21 Goods and Services Tax Application to Benefits 59.Which of the following gives workers the right to pension benefits after a specified number of years, even if they leave the company? A. financial security B. employment insurance C. vesting D. portability clauses E. workers' compensation Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-04 Describe the major types of pension plans. Topic: 10-13 Retirement Security 60.Which of the following challenges has often lead employees to pressure employers for more benefits to meet their needs? A. the lack of understanding about the mix of benefits offered through benefit packages B. the increase complexity associated with administering benefits packages 1 10-35 E. less involvement by the human resource department Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-17 Flexible Benefits 1 10-36 64. Flexible benefit programs are also known as which of the following? A. blended benefit programs B. cafeteria benefit programs C. optional benefit programs D. equity benefit programs E. selective benefit programs Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-17 Flexible Benefits 65. According to workers' compensation acts, who is liable for payment of compensation to workers in the event of accidental personal injury on the job? A. Individual workers surrounded by the same types of hazards B. the federal government C. the provincial government D. individual employers E. employers classified in the same group due to the presence of similar hazards Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 66.Which of the following is a remedy for problems associated with poorly understood benefit packages? A. including employee services compensation packages B. providing vacation time 1 10-37 C. making pension contributions D. offering payroll deductions E. publicizing benefits Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-07 Explain the implications of employee benefits on human resource management. Topic: 10-20 Implications for Human Resource Management 1 10-40 70. Voluntary employee insurance benefits can include which of the following benefits? A. supplemental unemployment benefits B. defined contribution plans C. short-term disability plans D. paid sick leave E. financial services Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-03 Discuss the voluntary benefits orgainziations may provide to their employees. Topic: 10-11 Insurance Benefits 71.Which of the following is described as payment to a worker upon permanent separation from an employer? A. a supplemental unemployment benefit B. an employment assistance program C. a paid time-off benefit D. severance pay E. a financial service Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 10-03 Discuss the voluntary benefits orgainziations may provide to their employees. Topic: 10-12 Income Security Benefits 72.Which of the following has become a common part of flexible benefit programs? A. long-term disability B. life insurance C. buying and selling vacation time 1 10-41 D. medical coverage E. prescription drug coverage Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-05 Discuss the benefits and services that are likely to become more common in the future. Topic: 10-17 Flexible Benefits 1 10-42 73.Workers' Compensation Acts are administered by: A. employers B. employees' unions C. the federal government D. private certified outside agencies E. the provincial governments of each province Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-02 Explain how government furthers employee security and which major Canadian laws relate to it. Topic: 10-07 Financial Security 74. Benefits and services are referred to as indirect compensation for which of the following reasons? A. they are based on critical job factors or performance B. they do not appear on employees' paycheques C. they strive to achieve internal equity with no monetary reward D. they are usually extended as a condition of employment rather than directly related to performance E. they can extend to other family members Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-01 Benefits and Corporate Strategy 1 10-45 78. Health and pension benefits can make a great difference in corporate loyalty, especially for which of the following employees? A. older employees B. part-time employees C. employees with pre-existing medical conditions D. temporary employees E. high-performing employees Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-01 Benefits and Corporate Strategy 79.Which of the following is an objective that organizations seek to satisfy through offering employee benefits and services? A. access benefits that would be inaccessible without employer-provided insurance B. gain benefits and services at a low rate C. receiving tax-free benefits D. reduce employee fatigue E. deduct the cost of benefits as a business expense Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-04 Organizational Objectives 80.Which of the following is an objective that employees seek to satisfy through accessing employer-provided benefits and services? A. minimize overtime costs 1 10-46 B. reduce employee fatigue C. gain benefits and services at a low rate D. reduce turnover E. discourage labour unrest Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-01 Describe the objectives of indirect compensation. Topic: 10-05 Employee Objectives 1 10-47 81. A short-term disability plan is an example of which type of voluntary benefit? A. employee services B. paid time-off benefits C. retirement security benefit D. income security benefit E. insurance benefit Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-03 Discuss the voluntary benefits orgainziations may provide to their employees. Topic: 10-11 Insurance Benefits 82. Employees drawing income when they are laid off is an example of which type of voluntary benefit? A. supplemental unemployment benefits B. guaranteed annual wage C. a short-term disability plan D. financial services offered to employees E. an employee assistant program Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 10-03 Discuss the voluntary benefits orgainziations may provide to their employees. Topic: 10-12 Income Security Benefits 83.Which of the following is a paid time-off benefit? A. employee assistance programs B. employee discount plans C. holidays and vacations