PHR - Compensation and Benefits Test

Question 1

Which of the following acts established uniform minimum standards for employer sponsored retirement and health and welfare benefit programs?

Accepted Answer

ERISA

Answer

HSA

Answer

FLSA

Answer

PBGC

Question 2

Which of the following acts applies to construction laborers and mechanics?

Accepted Answer

Davis-Bacon Act

Answer

Walsh-Healy Act

Answer

Copeland Act

Answer

Service Contract Act

Question 3

A point-of-service plan (POS) is a type of managed care plan that is a hybrid of which of the following types of plans?

Accepted Answer

HMO and PPO

Answer

HMO and HSA

Answer

PPO and IRA

Answer

HSA and PPO

Question 4

To qualify for special tax treatment, a health savings account (HSA) for a single person must have a deductible of at least _______________ and out-of-pocket limits of no more than _______________.

Accepted Answer

$1,200, $5,950

Answer

$1,200, $11,900

Answer

$2,400, $11,900

Answer

$2,400, $5,950

Question 5

Which of the following acts prohibits federal contractors from receiving kickbacks from employees or subcontractors for wages earned on federal projects?

Accepted Answer

Copeland Act

Answer

Davis-Bacon Act

Answer

Service Contract Act

Answer

Walsh-Healy Act

Question 6

An employee experiences a qualifying event. This will impact his or her:

Accepted Answer

Group health care coverage

Answer

Eligibility for retirement

Answer

Eligibility for additional paid leave

Answer

Compensation

Question 7

What is the name of the act that defines what is included as hours worked and is therefore compensable and a factor in calculating overtime?

Accepted Answer

Portal to Portal Act

Answer

Davis-Bacon Act

Answer

Sarbanes Oxley Act

Answer

Service Contract Act

Question 8

Exempt employees are _______________ the FLSA minimum wage and overtime pay requirements.

Accepted Answer

Conditionally excluded from

Answer

Excluded from

Answer

Not covered by

Answer

Included in

Question 9

In a defined contribution plan, the employer _______________ and the employee _______________ make an annual payment to the employee's retirement plan account.

Accepted Answer

must, may

Answer

may, must

Answer

may, may

Answer

must, must

Question 10

When employees feel that performance or job differences result in corresponding differences in pay rates it's called:

Accepted Answer

Internal equity

Answer

External equity

Answer

Organizational equity

Answer

Compensation equity