B1 Practice Exam Questions with Answers Regulatory Environments for Benefits Programs Certification

They require complex actuarial calculations and assumptions.

The benefit is based on a formula that considers pay and service.

They generally provide better benefits to employees with longer service.

The employee assumes the risk for the investments.   

The male employees have substantially more education than the female employees.

All of the women have some professional certification or registration, whereas none of the men have comparable credentials.

The differential is due to the fact that the men have more seniority with the employer.

The women are all graduates of the most prestigious schools, and graduates from those schools command higher salaries.

Audit fees

Rent

Maintenance

Shipping

At established dates and then every six months thereafter

On January 1 and July 1 of each year

Once when they move a step, and again when the step value changes

At the anniversary date and at the annual merit increase date   

Additional quantitative analysis to determine whether pay rates are truly competitive or existing data are unreliable

Qualitative data collection to talk to key stakeholders and employees and determine whether the exit interviews accurately reflect their concerns

Qualitative data collection in the form of an employee survey with questions about employee satisfaction with pay levels

No additional data analysis is needed. Delta should increase pay rates based on the existing data to decrease turnover.

City, state and federal government employees

Airline and railroad employees

Employee who work for companies that sell goods in various states

An employer who should have inquired further into whether its conduct was in compliance with the act and failed to do so.

An employer that had a prior finding by the Labor Department, court or another tribunal with the authority to make such a finding

An employer knowing its conduct was prohibited under the act or showing reckless disregard for the requirements of the act

When the Labor Department has advised an employer that its actions were unlawful

Deductible

Coinsurance

Coordination of benefits

Out-of-pocket expenses   

Earnings

Shares

Market capitalization

Increased market value and reinvested dividends paid

Department of Labor

National Labor Relations Board

Office of Federal Contract Compliance Programs

Equal Employment Opportunity Commission

National Labor Relations Board

Equal Employment Opportunity Commission

Office of Federal Contract Compliance Programs

Department of Labor

Americans with Disabilities Act

Vocational Rehabilitation Act

Civil Rights Act of 1991

Age Discrimination in Employment Act

In the methods and processes used to make pay decisions

In the details of their individual compensation packages

In the overall program objectives

In the differences in pay levels for the different levels of the organization

Employers must include stock profits in overtime calculations.

Employees must hold options for at least 3 months.

Employees are not required to participate

Stock options may be granted at a 20% discount

Recognize possible issues and concerns that will drive budget planning

Prepare quarterly and annual reports and their associated statements

Withhold payroll taxes for all elements of compensation

Anticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle

Business forecasting

Business analytics

Predictive modeling

Statistical analysis

Job descriptions must be written to ensure they cover the critical functions of the job

Companies should determine pay based on physical skills

Companies must conduct pre-employment medical exams on all new employees

Special promotion requirements must be developed for the disabled employee

The most senior leader with the highest level of authority

No one person. Identify your stakeholders and work to achieve consensus among the majority.

Influencers and decision-makers who have the respect of employees and are both proponents and opponents of your objectives

Individuals with power in the organization who have the authority to overrule the concerns of opponents

There is no promise of a specific benefit at retirement.

Individual accounts must be maintained for each participant.

They are often integrated with government-sponsored programs.

Employees are at risk for financial resources.   

Focus on negative issues first, such as compensation costs exceeding budget, to get their attention

Provide a wide range of facts and figures. With their high level of responsibility, executives must have all the data before they can make informed decisions.

Assume they have little knowledge of the issue and make a detailed presentation leading up to the purpose of the meeting.

Recommend a solution that will solve the issue and explain why it is the best solution available.

Fixed costs must be kept to a minimum, but variable costs can fluctuate since they tend to correlate with revenue.

Variable costs often have a heavier focus than fixed costs, which applies to all areas, including compensation.

Fixed costs and variable costs are equally important and both should be kept to a minimum.

Fixed costs are not a concern because they cannot be changed, so the focus is primarily on variable costs.