Module 06-Employment Law
1. The two type of benefits covered under ERISA are
a. Welfare plans
b. Disability plans
c. Pension plan
d. A & B
2. In order to be qualified a pension plan must
a. Be fully funded at all times
b. Meet certain minimum participating requirements.
c. Meet certain minimum vesting requirements.
d. B & C
e. None of the above
3. A person exercising discretionary authority or control over the management of a benefit plan is fiduciary as defined by ERISA
4. ERISA requires employers to provide employee benefits including pension plans
5. Which of the following is not a welfare benefit plan under ERISA?
a. A severance pay policy.
b. A short term disability policy.
c. A workerâ€™s compensation policy.
d. A stock option plan.
6. ERISA was enacted as a result of:
a. A Pension fund mismanagement
b. Employerâ€™s complex and strict eligilbility requirements.
c. None of the above
d. A & B
7. ERISA does not require an employerâ€™s benefits plan to be held in trust for the benefit of participating employers and their beneficiaries.
8. ERISA governs pension plans but not health plans.
9. An employerâ€™s vacation plan is one examples of welfare benefit plan.
10. To obtain special tax treatmen, a companyâ€™s pension plan must be â€œqualifiedâ€.