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5 Written questions

5 Matching questions

  1. Factor comparison method
  2. Pension Protection Act (PPA)
  3. Sarbanes-Oxley Act (SOX)
  4. Defined benefit plan
  5. Cliff vesting
  1. a Requires participants to complete a specific number of years of service with an employer before they get any vested benefits, after which they are 100% vested
  2. b Act that requires administrators of defined contribution plans to provide notice of covered blackout periods; provides whistleblower protection for employees
  3. c Act that changes the laws that affect defined benefit plans, defined contribution plans, individual retirement accounts, and other issues related to retirement planning
  4. d Plan that promises employee a retirement benefit amount based on a formula
  5. e Job comparison method that ranks each job by each selected compensable factor and then identifies dollar values to develop a pay rate

5 Multiple choice questions

  1. Purchases health-care plans for large groups of employers to provide small businesses the economic advantages large companies have
  2. Act that established uniform minimum standards for employer-sponsored retirement and health and welfare benefit programs
  3. Instrument that measures change over time for costs of a group of goods and services
  4. Maximum dollar amount of covered medical expenses that a health-care plan will pay on behalf of any covered person during that person's lifetime
  5. Pay level divided by the midpoint of the pay range

5 True/False questions

  1. Lump-sum increase (LSI)Identified time period and ending point that should be identified in incentive pay plans


  2. Experience ratingRulings published by the IRS as general guidelines to all taxpayers or organizations


  3. Serious health conditionOne-time payment made to an employee; also called a lump-sum increase (LSI)


  4. Minimum wageSocial Security Administration program that provides medical care for people after age 65


  5. Health Insurance Portability and Accountability Act (HIPAA)Act that made changes to improve health-care coverage portability and accessibility and provide medical record privacy and security


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