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  5. Regulatory Environments for Benefits Programs Questions and Answers

B1 Sample Questions Answers

Questions 4

Which of the following statements best describes defined contribution (DC) plans?

Options:

A.

They require complex actuarial calculations and assumptions.

B.

The benefit is based on a formula that considers pay and service.

C.

They generally provide better benefits to employees with longer service.

D.

The employee assumes the risk for the investments.   

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Questions 5

The “return” represented by the Total Shareholder Return (TSR) metric is the increase in what?

Options:

A.

Earnings

B.

Shares

C.

Market capitalization

D.

Increased market value and reinvested dividends paid

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Questions 6

On what basis does the Equal Pay Act of 1963 prohibit an employer from discriminating in employee compensation programs?

Options:

A.

Race

B.

Religion

C.

Sex

D.

Age

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Questions 7

What are usual, customary and reasonable charges (UCR)?

Options:

A.

The charges that an insurance carrier determines are normal for a particular medical procedure within a specific geographical area

B.

The charges that are published annually in the Global Insurers' Medical Cost Comparison Guide

C.

The charges that are allowable for any given medical procedure with no pre-treatment authorization

D.

The charges that are typically paid up front by a plan participant for services rendered.   

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Questions 8

Which employees are covered by the National Labor Relations Act?

Options:

A.

City, state and federal government employees

B.

Airline and railroad employees

C.

Employee who work for companies that sell goods in various states

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Questions 9

The Alpha company ships an order to a customer on March 1st and invoices the customer for the product with the shipment, with payment terms of net 30 days. The customer’s payment is received on April 5th. The payment clears the bank and shows on Alpha’s account on April 8th. If Alpha is using accrual accounting, when does it record the revenue for this sale?

Options:

A.

March 1st

B.

March 31st

C.

April 5th

D.

April 8th

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Questions 10

Which of the following best describes severance allowances?

Options:

A.

A portion of one's salary paid during reserve duty and military leave

B.

A practice of paying a lump sum to employees during a company shutdown

C.

A continuation of an employee's salary after termination

D.

A continuation of a portion of an employee's salary to a beneficiary after the death of an employee

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Questions 11

Regarding compensation communications with executives, where do they tend to need the greatest level of understanding?

Options:

A.

In the methods and processes used to make pay decisions

B.

In the details of their individual compensation packages

C.

In the overall program objectives

D.

In the differences in pay levels for the different levels of the organization

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Questions 12

What is the minimum age for an individual to qualify for protection under the Age Discrimination in Employment Act?

Options:

A.

40

B.

45

C.

50

D.

55

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Questions 13

Which of the following acts is focused on employers with service contracts with the government?

Options:

A.

Davis-Bacon Act

B.

Sherman Antitrust Act

C.

McNamara-O'Hara Act

D.

National Labor Relations Act

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Exam Code: B1
Exam Name: Regulatory Environments for Benefits Programs
Last Update: May 2, 2024
Questions: 89
$64  $159.99
$48  $119.99
$40  $99.99
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