BUS 409 chapter 11 Quiz 8

Topics: Unemployment benefits, Medicare, Unemployment Pages: 8 (1571 words) Published: November 8, 2014
Strategic Compensation, 6e (Martocchio)
Chapter 11 Legally Required Benefits

1) Chuck broke his leg at work and was told he needed to get physical rehabilitation. How long, after the incident, does he have to file a claim? A) 2 - 5 years
B) 1 - 3 months
C) 3 - 6 months
D) 6 - 24 months
Answer: D
Diff: 3Page Ref: 270

2) Thelma is on the Medicare Prescription Drug Program and has just spent over $5,100 out-of-pocket on medications, how much of the prescription costs will Medicare now cover for her? A) 67%
B) 100%
C) 50%
D) 95%
Answer: D
Diff: 2Page Ref: 267

3) Medicare Part A is based on what type of health care option? A) preferred provider plan
B) medical savings account
C) managed care plan
D) fee-for-service
Answer: D
Diff: 2Page Ref: 266

4) As of March 2009, how much did U.S. companies spend per employee on average to provide legally required benefits? A) $4,400
B) $370
C) $7,300
D) $730
Answer: A
Diff: 1Page Ref: 261

5) In which state would an employee be eligible for an additional 13 weeks of emergency unemployment insurance (for a total of 33 weeks) under the Unemployment Compensation Act of 2008 due to excessively high state unemployment? A) Alabama

B) North Dakota
C) Michigan
D) Montana
Answer: C
Diff: 2Page Ref: 263
6) What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)? A) Michigan
B) Florida
C) Alaska
D) California
Answer: C
Diff: 3Page Ref: 263

7) In 2022, how old will Cary have to be to receive full Social Security benefits? A) 57
B) 62
C) 65
D) 67
Answer: D
Diff: 3Page Ref: 264

8) Julio wants to apply for unemployment benefits, how much will he have to have earned, in the last four quarters, to qualify? A) $100 total
B) $1,000 total
C) $5,000 total
D) $10,000 total
Answer: B
Diff: 3Page Ref: 262

9) If the CEO of a new company asked you how much per employee she will be taxed by FUTA, what would you tell her? A) 3.5% of the first $7,000
B) 6.2% of the first $7,000
C) 6.2% of the first $10,000
D) 3.5% of the first $10,000
Answer: B
Diff: 2Page Ref: 263

10) How is Medicare Part A financed?
A) payroll taxes paid only by employers
B) out-of-pocket
C) payroll taxes paid by both employers and employees
D) congressional fiat
Answer: C
Diff: 2Page Ref: 266

11) What is the only state where employers are not required to fund workers’ compensation programs? A) Michigan
B) New York
C) Texas
D) Oregon
Answer: C
Diff: 3Page Ref: 269
12) Which Medicare plan offers enrollees lower premiums in exchange for limiting their choice of health care providers? A) Medicare+Choice
B) Medigap
C) Medicare Select
D) Medicare Advantage
Answer: C
Diff: 2Page Ref: 266

13) The average monthly benefit for all retired workers earning old age benefits as of April 2009 was how much? A) $425
B) $780
C) $1,057
D) $1,712
Answer: C
Diff: 2Page Ref: 264

14) If Fred signs-up for Medicare Part B, what percent of his medical services and supplies will be covered after he has paid his annual deductible? A) 25%
B) 33%
C) 60%
D) 80%
Answer: D
Diff: 2Page Ref: 266

15) As of 2009, how much would you have to earn to qualify for one quarter of credit for OASDI coverage? A) $625 a month
B) $625 a year
C) $920 a month
D) $1,090 a year
Answer: D
Diff: 3Page Ref: 264

16) This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A&B). A) Medicare Select
B) Medicare Prescription Drug Program
C) Medicare Advantage
D) Medigap
Answer: C
Diff: 1Page Ref: 267
17) MomPop's General Store can avoid paying workers' compensation taxes if it keeps its staff to less than how many employees? A) 12
B) 50
C) 100
D) 25
Answer: A
Diff: 2Page Ref: 268

18) Under the Family and Medical Leave Act, for Pierre to take time off to take care of his wife and new child how many hours would he...
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