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BUNDLE - ERISA EXAMS
BUNDLE - ERISA EXAMS
[Show more]BUNDLE - ERISA EXAMS
[Show more]ERISA Final Exam Questions & Answers 2023/2024 
 
 
There are two types of benefit plans. What are they? - ANSWER-Welfare: do not vest 
 
 Pension or retirement: vest 
 
What is the definition of vesting - ANSWER-vesting- becoming legally entitled to receive a benefit that cannot be forfeited if emp...
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Add to cartERISA Final Exam Questions & Answers 2023/2024 
 
 
There are two types of benefit plans. What are they? - ANSWER-Welfare: do not vest 
 
 Pension or retirement: vest 
 
What is the definition of vesting - ANSWER-vesting- becoming legally entitled to receive a benefit that cannot be forfeited if emp...
ERISA Exam Questions & Answers 2023/2024 
 
 
What does ERISA stand for? - ANSWER-Employee Retirement Income Security Act (enacted 1974) 
 
What was the purpose for enacting ERISA? - ANSWER-To protect the assets of millions of Americans so that funds placed in retirement plans during their working l...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
What does ERISA stand for? - ANSWER-Employee Retirement Income Security Act (enacted 1974) 
 
What was the purpose for enacting ERISA? - ANSWER-To protect the assets of millions of Americans so that funds placed in retirement plans during their working l...
ERISA Exam Questions & Answers 2023/2024 
 
 
Plan Sponsor - ANSWER-A designated party that is either a company or employer, who sets up a retirement plan for the benefit of their employees. 
 
retirement plan - ANSWER-A savings and investment plan that provides funds during retirement 
 
single emp...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
Plan Sponsor - ANSWER-A designated party that is either a company or employer, who sets up a retirement plan for the benefit of their employees. 
 
retirement plan - ANSWER-A savings and investment plan that provides funds during retirement 
 
single emp...
ERISA Exam Questions & Answers 2023/2024 
 
 
ERISA only applies to what? - ANSWER-Employee based benefits: benefits that are focused on health and disability insurance 
 
Section 502 of ERISA allows challenging - ANSWER-Terms of the benefits plan 
-Recover benefits due (previously denied) 
-Enforci...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
ERISA only applies to what? - ANSWER-Employee based benefits: benefits that are focused on health and disability insurance 
 
Section 502 of ERISA allows challenging - ANSWER-Terms of the benefits plan 
-Recover benefits due (previously denied) 
-Enforci...
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ERISA Exam Questions & Answers 2023/2024 
 
 
3 Defining Characteristics of the American private pension system. - ANSWER--Employment-based 
-Voluntary 
-Tax-favored 
 
ERISA - ANSWER-Employment Retirement Income Security Act of 1974 
 
First corporate industry to have pensions - ANSWER-Railroad 
 
...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
3 Defining Characteristics of the American private pension system. - ANSWER--Employment-based 
-Voluntary 
-Tax-favored 
 
ERISA - ANSWER-Employment Retirement Income Security Act of 1974 
 
First corporate industry to have pensions - ANSWER-Railroad 
 
...
ERISA Exam Questions & Answers 2023/2024 
 
 
How is compliance a risk management strategy? Answer: Federal legislation affords protection to employers with a "deferential review" rather than a "De Novo review" In state court. In federal court, there is no jury trial and no opportunity for punit...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
How is compliance a risk management strategy? Answer: Federal legislation affords protection to employers with a "deferential review" rather than a "De Novo review" In state court. In federal court, there is no jury trial and no opportunity for punit...
ERISA and Qualified Plans Exam Questions & Answers 2023/2024 
 
 
Internal Revenue Service - ANSWER-(IRS) Carries out the administrative duties of the qualified plan system 
-Supervising the creation of new retirement plans and monitoring and auditing the operation of existing plans 
-Interpreting f...
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Add to cartERISA and Qualified Plans Exam Questions & Answers 2023/2024 
 
 
Internal Revenue Service - ANSWER-(IRS) Carries out the administrative duties of the qualified plan system 
-Supervising the creation of new retirement plans and monitoring and auditing the operation of existing plans 
-Interpreting f...
ERISA Exam Questions & Answers 2023/2024 
 
 
Single employer plan - ANSWER-a plan which is not a multiemployer plan 
 
Multiemployer plan - ANSWER-A plan that is sponsored by more than one employer pursuant to a collective bargaining agreement is called a multiemployer plan. § 3(37). 
 
Employee b...
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Add to cartERISA Exam Questions & Answers 2023/2024 
 
 
Single employer plan - ANSWER-a plan which is not a multiemployer plan 
 
Multiemployer plan - ANSWER-A plan that is sponsored by more than one employer pursuant to a collective bargaining agreement is called a multiemployer plan. § 3(37). 
 
Employee b...
Topic 11 - Employee Retirement Income Security Act (ERISA) Exam 2023/2024 
 
 
What is the original intent of ERISA? - ANSWER-- Protect ER-provided pensions 
--- 95% of the provisions are retirement plans 
--- 5% are health and welfare 
- ERISA is very involved in healthcare reform 
 
ERISA Regulati...
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Add to cartTopic 11 - Employee Retirement Income Security Act (ERISA) Exam 2023/2024 
 
 
What is the original intent of ERISA? - ANSWER-- Protect ER-provided pensions 
--- 95% of the provisions are retirement plans 
--- 5% are health and welfare 
- ERISA is very involved in healthcare reform 
 
ERISA Regulati...
Topic 11 ERISA Federal Regulation of Employee Benefit Plans Exam 2023 
 
 
Employee Retirement Income Security Act - 1974 ERISA - ANSWER-Had just as big of an impact as ACA. 
 
Reserving retired income securities. 
 
Original Intent 
-Employer provided pensions 
--95% of provisions 
--5% health and ...
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Add to cartTopic 11 ERISA Federal Regulation of Employee Benefit Plans Exam 2023 
 
 
Employee Retirement Income Security Act - 1974 ERISA - ANSWER-Had just as big of an impact as ACA. 
 
Reserving retired income securities. 
 
Original Intent 
-Employer provided pensions 
--95% of provisions 
--5% health and ...
Chapter 20: Retirement Plans, ERISA Issues, & Education Funding Exam 2023 
 
 
Qualified Retirement Plans - ANSWER-- Contributions are Tax Deductible 
- Approved by IRS 
- Cannot Discriminate 
- Tax on Accumulation is deferred 
- All withdrawals taxed 
- Plan operates as a Trust 
 
1) Keogh (HR-10) ...
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Add to cartChapter 20: Retirement Plans, ERISA Issues, & Education Funding Exam 2023 
 
 
Qualified Retirement Plans - ANSWER-- Contributions are Tax Deductible 
- Approved by IRS 
- Cannot Discriminate 
- Tax on Accumulation is deferred 
- All withdrawals taxed 
- Plan operates as a Trust 
 
1) Keogh (HR-10) ...
TOPIC 11: ERISA EXAM QUESTIONS & ANSWERS 2023/2024 
 
 
who regulates insurers? - ANSWER-states 
 
who regulates ERs when designing EE benefit plans? - ANSWER-federal government 
 
why would national insurers prefer to be regulated by the federal government? - ANSWER-so they do not have to answer to...
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Add to cartTOPIC 11: ERISA EXAM QUESTIONS & ANSWERS 2023/2024 
 
 
who regulates insurers? - ANSWER-states 
 
who regulates ERs when designing EE benefit plans? - ANSWER-federal government 
 
why would national insurers prefer to be regulated by the federal government? - ANSWER-so they do not have to answer to...
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