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Employee Benefits and Retirement Plans

This quiz covers various aspects of employee benefits and retirement plans, including types of benefits, eligibility requirements, and tax implications.

15 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is NOT a common type of employee benefit?

  1. Health insurance
  2. Paid time off
  3. Stock options
  4. Severance pay
Question 2 Multiple Choice (Single Answer)

What is the maximum contribution limit for a traditional IRA in 2023?

  1. $6,500
  2. $7,500
  3. $8,500
  4. $9,500
Question 3 Multiple Choice (Single Answer)

Which of the following is a defined benefit retirement plan?

  1. 401(k) plan
  2. 403(b) plan
  3. Pension plan
  4. Profit-sharing plan
Question 4 Multiple Choice (Single Answer)

What is the maximum contribution limit for a 401(k) plan in 2023?

  1. $20,500
  2. $22,500
  3. $24,500
  4. $26,500
Question 5 Multiple Choice (Single Answer)

Which of the following is NOT a type of health insurance plan?

  1. Health maintenance organization (HMO)
  2. Preferred provider organization (PPO)
  3. Point-of-service (POS) plan
  4. High-deductible health plan (HDHP)
Question 6 Multiple Choice (Single Answer)

What is the maximum contribution limit for a health savings account (HSA) in 2023?

  1. $3,650
  2. $4,650
  3. $5,650
  4. $6,650
Question 7 Multiple Choice (Single Answer)

Which of the following is NOT a type of retirement savings plan?

  1. 401(k) plan
  2. 403(b) plan
  3. Individual retirement account (IRA)
  4. Roth IRA
Question 8 Multiple Choice (Single Answer)

What is the maximum contribution limit for a Roth IRA in 2023?

  1. $6,500
  2. $7,500
  3. $8,500
  4. $9,500
Question 9 Multiple Choice (Single Answer)

Which of the following is NOT a type of flexible spending account (FSA)?

  1. Health care FSA
  2. Dependent care FSA
  3. Transportation FSA
  4. Parking FSA
Question 10 Multiple Choice (Single Answer)

What is the maximum contribution limit for a health care FSA in 2023?

  1. $2,850
  2. $3,050
  3. $3,250
  4. $3,450
Question 11 Multiple Choice (Single Answer)

Which of the following is NOT a type of employee stock ownership plan (ESOP)?

  1. Stock bonus plan
  2. Employee stock purchase plan (ESPP)
  3. Profit-sharing plan
  4. 401(k) plan
Question 12 Multiple Choice (Single Answer)

What is the maximum contribution limit for an employee stock purchase plan (ESPP) in 2023?

  1. $25,000
  2. $30,000
  3. $35,000
  4. $40,000
Question 13 Multiple Choice (Single Answer)

Which of the following is NOT a type of non-qualified deferred compensation plan?

  1. Supplemental executive retirement plan (SERP)
  2. Rabbi trust
  3. 401(k) plan
  4. 403(b) plan
Question 14 Multiple Choice (Single Answer)

What is the maximum contribution limit for a supplemental executive retirement plan (SERP) in 2023?

  1. $250,000
  2. $300,000
  3. $350,000
  4. $400,000
Question 15 Multiple Choice (Single Answer)

Which of the following is NOT a type of welfare benefit plan?

  1. Health insurance plan
  2. Dental insurance plan
  3. Vision insurance plan
  4. Pension plan
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