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1) What year will the Social Security System become insolvent?
A. 2012
B. 2017
C. 2020
D. It is impossible; the government can never run out of money.
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2) Let's assume a company is made up of 75 employees. The company provides medical benefits to all employees who work over 20 hours per week. Which of the following is NOT a required notification to full-time regular new hire employees?
A. Unemployment insurance benefits
B. Rights according to Mental Health Parity Act
C. Rights according to Newborns' and Mothers' Health Protection Act
D. Rights according to Women's Health and Cancer Rights Act
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3) Companies that provide their employees with a 401(k) or retirement benefit plan are required by law to carry an ERISA (Employee Retirement Income Security Act) bond. This bond protects the assets of the employee benefit plan against losses resulting from a dishonest act of a fiduciary or other person handling those assets. By law, what is the minimum amount that your company should carry in an ERISA Bond if you had 10 Million in contributed assets?
A. A minimum of 10% of the plans assets or 1,000,000.
B. A minimum of 25% of the plans assets or 2,500,000.
C. A minimum of 50% of the plans assets or 5,000,000.
D. 100% of the plans assets or 10,000,000.
E. None of the above.
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4) Which of the following statements about Title VII of the Civil Rights Act is true?
A. All employees must have equal working conditions.
B. Discrimination against race and sexual orientation is prohibited.
C. Employers must provide sexual harassment training for all employees.
D. Employees must have an equal opportunity to participate in training.
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5) How much is the tax credit for small plans established after 2001.
A. $200.00
B. $500.00
C. $1000.00
D. None, the government will not assist you with the cost of your plan.
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6) What does Employee Benefits Liability Insurance (EBL) cover?
A. Counseling employees on existing or future benefits.
B. Interpreting employee benefits.
C. Processing employees’ personal records
D. Enrolling, termination, adding and removing employees for benefits.
E. All of the above.
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7) Who is NOT covered under a workers compensation policy?
A. 1099 Employees
B. Temporary Workers
C. W2 Employees
D. None of the above, all are covered for workers Compensation.
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8) Why should candidates who supply resumes also complete application forms?
A. It is an EEOC Requirement.
B. The resume may provide facts the employer is prohibited from requesting.
C. The forms require applicants to verify that the content is correct.
D. The forms provide information on fair employment practices.
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9) An employee files a discrimination charge and is laid off a short time later due to a downturn in the company’s business. In this situation, the employer could be accused of:
A. Sexual harassment
B. Retaliatory discharge
C. Involuntary retirement
D. Constructive discharge
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10) An employee’s son is no longer eligible for coverage under the company’s health plan. According to COBRA regulations, the dependent is eligible for how many months of insurance continuation?
A. 18
B. 29
C. 36
D. 48
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