the cost of employee benefits represents, on average, _____ of private employers’ total compensation costs. 5%-10% b. 10%-15% c. 20%-25% d. 35%-40% 2….

1.the cost of employee benefits represents, on average, _____ of private employers’ total compensation costs.  a. 5%-10%  b. 10%-15%  c. 20%-25%  d. 35%-40%

2.Many group medical expense coverage and medical plans contain a stop loss clause, which places a ceiling on the   a. amount a hospital or physician can charge the insurance provider.  b. amount the provider will pay for any given medical problem or condition.  c. out-of-pocket maximum costs to be incurred by the employee.  d. out-of-pocket maximum costs to be incurred by the employer.

3.Workers’ compensation laws have which two important features?  a. (1) Employers pay benefits unless there was employer fault or negligence, and (2) employees aren’t allowed to sue employers for injuries under tort law.  b. (1) Employers pay benefits without regard to employer fault or negligence, and  (2) employees are required to sue employers for injuries under tort law.  c. (1) Employers pay benefits unless there was employer fault or negligence, and  (2) employees can choose to sue employers for injuries under tort law.  d. (1) employers pay benefits without regard to employer fault or negligence, and (2) employees aren’t allowed to sue employers for injuries under tort law.

4.If an employer decides to use cliff vesting, what is the maximum length of service that can be required of an employee before vesting occurs?  a. 3 years  b. 5 years  c. 7 years  d. 10 years

5.Which of the following categories of workers is not eligible for social security (OASDI) benefits?  a. retired persons age 62 and over who have 40 quarters of coverage  b. unmarried children age 18 and under of deceased participants who had at least 6 quarters of coverage during the 13 quarters preceding death  c. spouses, under age 60, of deceased, fully insured workers with no dependent children  d. disabled workers with at least 20 quarters of coverage during the 40 quarters preceding the onset of disability.

6.Medicare part A provides which of the following benefits?  a. inpatient hospital services  b. physicians’ srvices  c. pharmaceutical expenses  d. free homeopathic remedies.

Which one of the following programs is not financed with OASDHI payroll taxes?  a. social security disability  b. social security survivor benefits  c. Medicare part A  d. Medicare part B.

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