Exam (elaborations)
CEBS QUESTIONS AND ANSWERS GRADED A+
- Course
- Institution
Exam of 3 pages for the course CEBS - Certified Employee Benefits Specialist at CEBS - Certified Employee Benefits Specialist (CEBS)
[Show more]
Content preview
CEBSBroad - answer View of employee benefits that benefit includes virtually any form of compensation except direct wages (including Social Security, Medicaid, Unemployment,
W.C).
Three-legged stool of economic security - answer Benefits provided by the government, by employers and by the individual which underlies the foundation of financial security
Narrow - answer Any type of plan sponsored or initiated unilaterally or jointly by employers and employees in providing benefits that stem from the employment relationship (not underwritten or paid for directly by government.
Inland Steel v NLRB - answer 1948 court case that upheld that the meaning of the term wages includes pension plans.
W.W. Cross v NLRB - answer 1949 court case that stated that good faith bargaining requirements include group health and accident plans.
Group technique - answer Concepts that allow insurance prgrams to be written as employee benefit plans - individual eligibility requirements are not required.
Characteristics of group technique - answer Only certain groups eligible, steady flow of lives through group, minimum number of persons in a group, minimum portion of group must participate, eligibility requirements, maximim limits for any one person, automatic determination of benefits, central and efficient administrative agency.
Functional - answer Approach to employee benefit design which requires a systematic method of analysis to an employer's total employee benefits program to evaluate employee's needs and manage loss.
Risk - answer Uncertainty with respect to possible loss. The inability to determine a future loss and to figure out how expensive it will be should the loss take place.
Loss - answer Any decrease in value suffered.
Peril - answer Cause of personal or property loss, destruction or damage (i.e. fires, floods, earthquakes, theft etc)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now