2024 COMPLETELY NEW EXAM QUESTIONS
WITH DETAILED VERIFIED 100% CORRECT
ANSWERS BRAND NEW
ALREADY GRADED A+
Define cash benefit (ch.3) - ....ANSWER...When an
employer reimburses an employee for an item that is
considered a benefit
Registered Retirement Savings Plan are considered non-
cash taxable benefits when... (ch.3) - .... ANSWER...-
Employee cannot withdraw the amounts until they are
retired
-Can only withdraw under Home Buyers' Plan or Lifelong
Learning Plan
Group term life insurance plans equation (ch.3) -
....ANSWER...Coverage amount=
Annual salary X coverage multiplier
Monthly taxable benefit=
Coverage amount X premium rate
1,000
1
,Pay period taxable benefit=
2
, Monthly taxable benefit X 12
Pay period frequency
Group sickness and accident insurance plans include...
(ch.3) - ....ANSWER...-Short term disability
-Long term disability
-Accident insurance plans
Private health insurance plans can cover what? (ch.3) -
....ANSWER...-Supplementary hospital
-Drugs
-Private duty nursing
-Paramedical services
-Medical supplies and services
-Out of province emergency
-Hearing aids
-vision care
-Dental expense
Employee assistance plans cover... (ch.3) - .... ANSWER...-
Physical or mental counseling
-Family counseling
3