APU HRMT412 WEEK 4 quiz 2

Question 1 of 10

10.0/ 10.0 Points

The first pension plan in the United States was established in what year?

A. 1865

B. 1759

C. 1964

D. 1776

Feedback: Correct!

Question 2 of 10

10.0/ 10.0 Points

According to the text what percent of workers

employed in the private sector participated in at least one company-sponsored retirement plan in 2006?

A.55%

B.19%

C.50%

D.75%

Feedback: Correct! Good work.

Question 3 of 10

10.0/ 10.0 Points

In accordance with the text, the second reason for changes away from participation in defined benefit plans to defined contribution plans is?

A.The decline of qualified workers.

B.Technology and computer based operations.

C.Defined contribution plans are quite costly to

employers compared to defined benefit plans.

D.Defined benefit plans are quite costly to

employers compared to defined contribution plans

Feedback: Best answer!

Question 4 of 10

10.0/ 10.0 Points

Pay, health-care benefits and other benefits such as 401(k) plans can all make up what type of package? A.A total compensation package.

B.A retention package

C.A recruiting package.

D.A bonus package.

Feedback: Correct!

Question 5 of 10

10.0/ 10.0 Points

The term Vesting refers to?

A.A Union classification system. B.An employee’s nonforfeitable rights to

pension benefits.

C.The rate at which participants accumulate

(or earn) benefits.

D.All of the above.

Feedback: Correct! Good answer.

Question 6 of 10

10.0/ 10.0 Points

What type of retirement plan provides benefits usually expressed in terms of a monthly sum equal to a percentage of a participant’s preretirement pay multiplied by the number of years he or she has worked for the employer?

A.A dedicated retirement plan.

B.A defined contribution plan.

C.An employee's 401k retirement plan.

D.A defined benefit plan.

Feedback: Correct!

Question 7 of 10

10.0/ 10.0 Points

What type of plan allows employers and employees to make annual contributions to separate accounts established for each articipating employee, based on a formula contained in the plan document?

A.A defined contribution plan.

B.A defined benefit plan.

C.Individual retirement account (IRA) plan.

D.Roth IRA plans.

Feedback: Correct!

Question 8 of 10

10.0/ 10.0 Points

When the government regulates the health care system and uses taxpayer dollars to fund health care this system is known as?

A.Multi payer system of health care.

Correct B.Single payer system of health care.

C.Government sponsored health care system.

D.Universal health care system.

Feedback: Correct!

Question 9 of 10

10.0/ 10.0 Points

Congress enacted the Employee Retirement Income Security Act in what year?

A.1964

B.1865

C.1935

Correct D.1974

Feedback: Correct!

Question 10 of 10

10.0/ 10.0 Points

What type of tables are created by actuaries to express annual probabilities of the ccurrence of health problems?

A.Macro tables.

B.Mortality tables.

C.Morbidity tables.

D.Maintenance tables.