INS 4001 Employee Benefits Exam 1

Accommodation and Enhancement Benefits - Promote healthful living opportunities for employees and their families through street management classes, flexible work schedules, and tuition reimbursement Backing-in Strategic Approach - Reactive process in which benefits programs are reviewed only when problems arise Benefits are a central strategy in attracting and retaining desired employees. T/F? - True Benefits are defined as compensation that includes wages and salary as well as other services. T/F? - False Benefits other than wages and salary. Cafeteria plans enable employees to choose from among a set of benefits and different levels of these benefits. T/F? - True Compensation levels are established based on employee age. T/F? - False Core compensation is another name for monetary rewards. T/F? - True Cost of Living Adjustments are based on changes in prices as indexed by the consumer price index. T/F? - True Defined benefits plans, defined contribution plans and hybrid plans are types of health insurance funding plans. T/F? - False Funding for discretionary retirement plans Discretionary Benefits - Income