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1. A non-exempt employee's usual pay is $800/wk, based on a 40/hr week. This week he works 50/hrs. His regular rate of pay is ___. His total pay for this week should be ___. a. $800/wk; $800 b. $16/hr; $1100 c. $20/hr; $1000 d. $20/hr; $1100 e. $16/hr; $1040 2. Which of the following is true regarding compensatory ("comp") time? a. employers can require employees to use up their accrued comp time, regardless of whether employees wish to do so b. the maximum amount of comp time that can be banked is capped at 240 hours for most employees c. acceptance of comp time can be made a condition for receiving overtime work d. b and c e. all of the above 3. Which of the following is generally compensable time under the FLSA? a. meetings during work hours concerning employee grievances b. meal periods of any length c. periods spent waiting to start work d. time spent traveling to and from work in a private car e. all of the above 4. The Migrant and Seasonal Agricultural Worker Protection Act requires that: a. migrant agricultural workers must be paid no less than the prevailing wage for farm laborers in the geographic region b. migrant agricultural workers must be provided with housing and the housing must be safe and sanitary c. migrant agricultural workers must receive overtime pay of one and a half times their regular rate of pay for all work hours in excess of 50 in a week d. all of the above e. none of the above 5. Defined benefit pension plans: a. promise a specific pension benefit upon retirement b. include cash balance pension plans c. are insured through the Pension Benefit Guaranty Corporation (PBGC) d. all of the above e. none of the above 6. Summary plan descriptions (SPDs): a. must be provided to new employees before they begin their employment b. provide a brief overview of the terms of employee benefit plans c. can be the basis for claims that employees did not receive promised benefits d. all of the above e. none of the above 7. Which of the following is a fiduciary duty under ERISA? a. ensuring that plans operate in accordance with plan documents and ERISA b. diversifying pension fund assets to minimize the risk of large losses c. managing benefit plans and funds solely in the interest of plan beneficiaries d. all of the above e. none of the above 8. Which of the following is true regarding vesting requirements under ERISA? a. once pension rights vest, employees are entitled to receive full pensions upon leaving employment b. once pension rights vest, employees' pension plans cannot be discontinued or changed c. vesting is generally required after five or seven years of service d. vesting is never required but is purely a contractual provision negotiated between the employer and employee 9. Which of the following is true of the Employee Retirement Income Security Act (ERISA)? a. it requires employers to provide pensions for most of their employees b. it is superseded by state laws that relate to employee benefit plans
c. it does not apply to benefit plans administered by public employers d. it requires that once a plan is in place, it can not be changed or modified without the employees consent e. all of the above 10. Defined contribution pension plans: a. are insured by the Pension Benefit Guaranty Corporation (PBGC) b. are prone to under-diversification of investments c. are not subject to ERISA vesting requirements d. guarantee specific pension benefits to the employee when the plan is entered into 11. Which of the following is true regarding the legal status of managed care? a. the Supreme Court has determined that financial incentives given to doctors who limit the use of medical services are not a breach of fiduciary duty under ERISA b. the Supreme Court has determined that ERISA preempts state laws requiring that patients be allowed to appeal disputed medical claims to external review boards - not 100% sure on this one but from records and source - it looks to be the correct choice on these. c. ERISA has effectively shielded managed care companies from suits for medical malpractice stemming from poor quality medical care d. managed care companies act as fiduciaries when relying on doctors medical judgments to make medical coverage decisions 12. Which of the following is a qualifying event necessitating an offer of COBRA continuation coverage? a. an employee quits his job b. an employee's hours are cut c. a spouse and an employee get divorced d. all of the above e. none of the above 13. An employee is terminated for poor attendance. The employer sends a letter on May 1 notifying him of his right to receive continuation health insurance coverage. The letter states that the former employee must respond by May 30 to be eligible for up to 6 months of continuation coverage. The employer's letter: a. accurately states the former employee's rights under COBRA b. should state that the employee has 45 days to decide on coverage that would last up to 3 years c. should state that the employee has 60 days to decide on coverage that would last up to 3 years d. should state that the employee has 60 days to decide on coverage that would last up to 18 months e. should not have been sent since a termination for poor attendance is not a qualifying event under COBRA
relavant costswhich of the following costs would be relevant in short-term decision making?a. incremental fixed costsb.
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