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CEBS GBA 1: Assignment 1 Latest /Questions And Answers Download To Pass!!!
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- CEBS GBA 1: Assignment 1 Latest 2023-2024
CEBS GBA 1: Assignment 1 Latest /Questions And Answers Download To Pass!!!
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CEBS GBA 1: Assignment 1 Latest 2023-2024/Questions And Answers Download To Pass!!!
Quiz :3 types of total compensation/benefits policies that an employer could
adopt - Answer :1. follow the company's own prevailing
compensation/benefits level in their firms industry or community or both
2. high comp/benefits policies attempt to attract higher levels of managment,
technical and general employee talent
3. low compensation/benefits policies are lower than average and more
modest in scale
Quiz :Broadview of employee benefits - Answer :any form of compensation
other than dirext wages paid to employees. includes gov required benefits and
private plans. employers share of soc security tax, paid vacation and pension
plans.
Quiz :common employee needs or losses that could be met thru benefit plans
- Answer :medical care, lost wages due to illness, lost wages due to death,
retirement needs, capital accumulation, unemployment of temporary
termination, financial counseling, losses from property and liability exposures,
needs for dependent care expenses, needs for educational assistance, needs
for custodial care expenses (long term care)
Quiz :define accumulation oriented benefits - Answer :typically pension plans,
profit sharing plans, savings or thrift plans. have longer probationary periods.
viewed as a reward for long service
Quiz :define protection oriented benefits - Answer :consist of medical
expense benefits, life insurance benefits, and short and long term disability
income benefits that protect employees from loss exposures that could be
financial disaster.
Quiz :define the compensation/service oriented benefit approach -
Answer :employers with this benefit approach tend to relate employee
benefits primarily to compensation or service or both when creating plans
within the constriants of any nondiscrimination rules thus the level of benefits
would be tied to the salary or pay of the employees and their years of service
, Quiz :define the needs-oriented benefit approach - Answer :focuses on the
needs of the employees and their dependents. employers with this philosophy
ten to design benefits focus on this basis
Quiz :describe the 1948 national labor relations board ruling against Inland
Steel - Answer :the duty to bargain in good faith over wages also included
insurance and fringes such as pension benefits.
Quiz :describe the functional approach to benefit planning? - Answer :the
application of a systematic method of analysis to an employers total employee
benefits program
looks at the organizations employee benefit program as coordinated. has
ability to meet various needs and to manage loss exposures within the
employers overall compensation goals and cost parameters.
Quiz :describe the WW Cross and Co case - Answer :NLRB rules that wages
included a health and accident plan
Quiz :explain the Taft Hartley Act - Answer :related to employee benefit
planning. it is the framework for good faith collective bargaining over wages,
hours, conditions and terms of employment and employee benefits. works
along with the Internal Revenue Code to establish the distinction between
retirement benefits and welfare benefits.
also provides the regulatory framework for administration of these benefits in
a collective bargaining agreement.
Quiz :how can replacement ratio be used to set benefit levels of retirement
and disability plans? - Answer :the retirement income objective might be
expressed in terms of a percentage of the estimated final pay of an employee.
when a retirement plan is created to replace income then soc sec money,
various other capital accumulation benefits and the retirement plan itself
would be considered
for disablity plans can also apply the replacement ratio using average or
normal earnings. income from all sources under the total compensation
package as well as the disability income plan itself should be considered
Quiz :how does an employers industry affect its compensation philosophy and
benefits approach? - Answer :1. liberal approach- taken by nonprofits, larger
and mature industries, financial industries
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