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 represents a strategic design consideration? A. Who will be eligible for each of the plans? B. How is the company going to define a dependent? C. What is the reimbursement level for covered expense? D. Will plans be designed from a cost standpoint only or will they consider employee desires?
2. Which strategy most directly cascades down to drive the benefits strategy? A. Business strategy B. HR strategy C. TR strategy D. Finance strategy
3. Which of the following will assist you in determining the current state of your benefits? A. Determine how you will measure success of your benefits program. B. Conduct both baseline and competitive analyses. C. Create measurable and specific benefits goals. D. Determine the role of benefits as an element of Total Rewards and in supporting the business, HR and TR goals.
4. Which of the following tools will assist you in collecting qualitative employee information? A. Employee groups B. Employee surveys C. Management interviews D. Management reports
5. How is “depth” defined in regards to benefits planning? A. The number of potential options within each health and welfare benefit area B. The weight and importance placed on the internal factors affecting an organization C. The entire benefits offering package D. The degree to which administration will occur in-house or be outsourced
6. When designing benefits plans, which of the following would be one question you would need to answer to clarify organization’s approach to cost? A. Are benefits designed to reward length of service or work performance? B. What is your emphasis within the scope of your total rewards offerings? C. Is your corporate culture one that is paternalistic or one that promotes share-accountability? D. Is the culture supportive of the degree of choice you want to offer?
7. In the pricing process, what is considered to be the starting point for employers? A. Identify and collect needed data. B. Estimate the cost of each flex option. C. Determine relationship between business objectives and HR strategy. D. Determine pricing for work-life benefits.
8. Which of the following would be a question to ask to clarify an organization’s position or philosophy on subsidies? A. To whom does the organization believe it has a primary commitment? B. Can a complex pricing structure be effectively communicated to employees? C. What financial and technical resources will an organization commit toward pricing? D. What types of pricing approaches does the organization have the ability to administer?
9. Which of the following is an advantage of a self-insured plan? A. Known cost B. Organization pays claims out of current revenue C. Potentially lower costs D. Enhanced employee relations
10. What are two ways of retaining risk? A. Rate guarantees and hold harmless agreements B. Self-insurance and large deductibles C. Plan limitations and evidence of insurability D. Indemnification agreements and pre-existing condition limitations
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