CEBS2 Question and answers rated A+ 2023/2024

CEBS2 Question and answers rated A+ 2023/20241.1 Distinguish between the broad view and the narrow view of employee benefits - correct answer The broad view defines employee benefits as anything other than direct compensation, including both government-mandated benefits and private plans. (social security, pension plans etc.). The narrow view holds that employee benefits are any benefit sponsored unilaterally or jointly by employers and employees that is not subsidized by the government. 1.2 List the categories of benefits that generally are considered to fall under a broad view employee benefits - correct answer • Legally required benefits (Social Security) • Payment for time not worked (rest, lunch, vacation, and holidays) • Medical • Retirement & savings plan payments • Miscellaneous benefits (employee discounts, severance pay, education, and child care)