Benefits
This quiz will test your knowledge on various types of benefits provided by employers to their employees.
Questions
Which of the following is NOT a common type of employee benefit?
- Health insurance
- Paid time off
- Retirement savings plan
- Free lunch
What is the purpose of a retirement savings plan?
- To provide employees with a source of income after they retire
- To help employees save for a down payment on a house
- To cover employees' medical expenses
- To pay for employees' education
Which of the following is NOT a type of paid time off?
- Vacation
- Sick leave
- Bereavement leave
- Jury duty leave
What is the purpose of health insurance?
- To cover the cost of medical expenses
- To provide employees with a source of income if they become disabled
- To help employees save for retirement
- To pay for employees' education
Which of the following is NOT a type of retirement savings plan?
- 401(k) plan
- Individual Retirement Account (IRA)
- Roth IRA
- Pension plan
What is the purpose of a flexible spending account (FSA)?
- To cover the cost of medical expenses
- To help employees save for retirement
- To pay for employees' education
- To cover the cost of dependent care expenses
Which of the following is NOT a type of employee benefit that is taxable?
- Health insurance premiums
- 401(k) contributions
- Social Security taxes
- Medicare taxes
What is the purpose of a health savings account (HSA)?
- To cover the cost of medical expenses
- To help employees save for retirement
- To pay for employees' education
- To cover the cost of dependent care expenses
Which of the following is NOT a type of employee benefit that is provided by the government?
- Social Security
- Medicare
- Unemployment insurance
- Workers' compensation
What is the purpose of a dependent care FSA?
- To cover the cost of medical expenses
- To help employees save for retirement
- To pay for employees' education
- To cover the cost of dependent care expenses
Which of the following is NOT a type of employee benefit that is provided by employers?
- Health insurance
- Paid time off
- Retirement savings plan
- Stock options
What is the purpose of a cafeteria plan?
- To allow employees to choose from a variety of benefits
- To help employees save for retirement
- To pay for employees' education
- To cover the cost of dependent care expenses
Which of the following is NOT a type of employee benefit that is provided by unions?
- Health insurance
- Paid time off
- Retirement savings plan
- Job security
What is the purpose of a 401(k) plan?
- To cover the cost of medical expenses
- To help employees save for retirement
- To pay for employees' education
- To cover the cost of dependent care expenses
Which of the following is NOT a type of employee benefit that is provided by the government?
- Social Security
- Medicare
- Unemployment insurance
- Workers' compensation