Governance
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Instructions: Choose an answer for each question and then click on the "Get Results" button at the end of the quiz.
1. Which of the following is a health care benefit? A. Long-term care B. Life insurance C. 401(k) plan D. Short-term disability
2. Which of the following is a welfare benefit? A. Dental B. Behavioral health C. Survivor benefits D. Prescription drug benefits
3. Which of the following statements is most accurate regarding behavioral health care plans? A. Limits for the number of visits and days as an in-patient must be the same as medical care limits B. Maximum annual and lifetime dollar amount may be no less for mental health than for medical care C. Does not utilize co-payments, deductibles or co-insurance D. Coverage typically does not include chemical-dependency services
4. Which of the following is an approach to managing prescription drug costs? A. Uptiering B. Requiring consumers to use PBMs C. Covering specialty or biotech drugs D. Encouraging direct-to-consumer advertising
5. Which of the following best defines Section 125 plans? A. Written plans that allow employees to choose between cash and one or more employer-provided benefits B. Written plans that detail what the employer may use to attract, retain and motivate employees C. Written plans that allow employees to choose from a limited number of benefits packages D. Written plans that allow employers to offer a wide variety in employee benefits choices.
6. Which is a permissible benefit under Section 125 plans? A. Tuition reimbursement B. Vision C. Long-term care D. Fringe benefits
7. What is the purpose of disability plans? A. To satisfy state requirements to offer STD plans B. To retain key talent within the organization C. To provide income replacement for employees D. To limit one or more life activity
8. Which of the following generally requires a six-month waiting period before employees can collect benefits? A. Unemployment insurance B. Workers’ compensation C. Long-term disability D. Dependent life insurance
9. What best describes a reason why employers provide pay for time not worked? A. It is required by state and federal law B. It indirectly reduces benefits expenses C. It enhances productivity and provides stability for employees’ incomes D. It is a low-cost benefit that employees desire
10. Why might an employer offer a PTO bank in place of separate paid time off programs? A. To avoid the cost of reimbursing accrued vacation days at termination B. To attract senior-level employees to the company C. To increase the number of paid time off days available to employees D. To help control absenteeism
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