MNO 3371 Exam Questions and Answers Latest Update Rated 100%
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MNO 3371 Exm
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MNO 3371 Exm
MNO 3371 Exam Questions and Answers Latest Update Rated 100%
Enrollment types - Answers 1. Independent contractors
2. EE: employee
3. ER: employer
4. Part time employees
5. Full time employees
Independent contractors - Answers employers do not have to pay social security, unemployment, or wo...
Independent contractors - Answers employers do not have to pay social security, unemployment, or
workers compensation costs
Part time employees - Answers most do not receive employee benefits except some paid time off
provided in proportion to % of full-time work they provide
Full time employees - Answers many pension plans will offer early retirement plans for full time
employees
companies with at least 50 full time employees are required to cover health insurance for full time
employees
Mergers - Answers two companies combine
Acquisition - Answers one company buys another
Due diligence - Answers detailed review of a target company's human resources processes and
employees by acquiring a company
Risk assessment - Answers assessing and dealing with potential risks that come with having a workforce
Q: In a merger and acquisition type of situation, when does HR do risk assessment? - Answers Before --
assess the risk and make sure there won't be liabilities after the acquisition
Q: When are you going to optimize the workforce? - Answers After -- can't make structural changes
before you purchase a company/without control
*once you merge then you optimize the workforce
, Piggy back - Answers arrangements when an organization partners with another firm that sells
complementary products or services
Importing and exporting - Answers buying and selling goods and services outside the home country
Licensing agreement - Answers organization sells the rights to its products or trademarks to producers
Franchising - Answers organization grants the right to use its business model and brand
Joint venture - Answers created between two or more partners who share an ownership and risk in the
investment. Often created for a specific project or product and allow for transferring knowledge or
technology
Benefits - Answers a tangible indirect reward provided to an employee or group of employees for
organizational membership
- health insurance, PTO, retirement plans, life and disability insurance
Offered to:
- aid recruiting and retention
- improve organizational performance
- meet legal requirements
- reinforce the company philosophy or values
Benefits influence employee decisions - Answers which employer to work for, whether to stay or leave
an organization, when to retire
Can you make changes to your employment benefits? When and why? - Answers
Open enrollment - Answers time when employees can change their participation level in various benefit
plans and switch between benefit options
Qualifying event - Answers an event that causes a plan participant to lose group health benefits.
Typically, reduction in work hours or loss of employment constitutes a qualifying event for employees.
Divorce or death of an employee constitutes a qualifying event for covered family members
Yes, flexible benefits plan - Answers allows employees to select the benefits they prefer from options
established by the owner
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