Bus 409 Wk 9 Quiz 8

BUS 409 WK 9 Quiz 8

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1) As of March 2009, how much did U.S. companies spend per employee on average to provide legally required benefits?

A) $4,400

B) $370

C) $7,300

D) $730

2) In 2009, Carnation Candles had 100 employees. Approximately how much did the legally required benefits cost the company that year?

A) $650,000

B) $580,000

C) $890,000

D) $440,000

3) The first 4 quarters of the last 5 completed calendar quarters in the previous year is the base period for which benefit?

A) OASDI

B) Medicare Part A

C) unemployment insurance

D) workers' compensation

4) If an employee wants to apply for unemployment benefits, how much will s/he have to have earned, in the last four quarters, to qualify?

A) $100 total

B) $1,000 total

C) $5,000 total

D) $10,000 total

5) How often will Jill receive an unemployment check?

A) daily

B) weekly

C) bi-monthly

D) monthly

6) What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)?

A) Michigan

B) Florida

C) Alaska

D) California

7) If the CEO of a new company asked you how much per employee she will be taxed by FUTA, what would you tell her?

A) 3.5% of the first $7,000

B) 6.2% of the first $7,000

C) 6.2% of the first $10,000

D) 3.5% of the first $10,000

8) To be fully insured under OASDI, an employee would have to work at least how long?

A) 24 months

B) 5 years

C) 10 years

D) 12 months

9) In 2011, how much would you have to earn to qualify for one quarter of credit for OASDI coverage?

A) $625 for each quarter

B) $760 for each quarter

C) $920 for each quarter

D) $1,120 for each quarter

10) Samuel's full retirement age is 65 years old and his monthly benefit at that age is $1,000. According to the Social Security Administration retirement...