Question 1 of 10
10.0/
10.0 Points
The first pension plan in the United States was established
in what year?
A. 1865

B. 1759

C. 1964

D. 1776

Feedback: Correct!
Question 2 of 10
10.0/
10.0 Points
According to the text what percent of workers
employed in the private sector participated in at least one
company-sponsored retirement plan in 2006?
A.55%
B.19%
C.50%
D.75%
Feedback: Correct! Good work.
Question 3 of 10
10.0/
10.0 Points
In accordance with the text, the second reason for changes
away from participation in defined benefit plans to defined contribution plans
is?
A.The
decline of qualified workers.
B.Technology
and computer based operations.
C.Defined
contribution plans are quite costly to
employers compared to defined benefit plans.
D.Defined benefit plans are quite
costly to
employers compared to defined contribution plans
Feedback: Best answer!
Question 4 of 10
10.0/
10.0 Points
Pay, health-care benefits and other benefits such as 401(k)
plans can all make up what type of package? A.A
total compensation package.
B.A
retention package
C.A
recruiting package.
D.A
bonus package.
Feedback: Correct!
Question 5 of 10
10.0/
10.0 Points
The term Vesting refers to?
A.A
Union classification system. B.An employees nonforfeitable
rights to
pension benefits.
C.The
rate at which participants accumulate
(or earn) benefits.
D.All
of the above.
Feedback: Correct! Good answer.
Question 6 of 10
10.0/
10.0 Points
What type of retirement plan provides benefits usually
expressed in terms of a monthly sum equal to a percentage of a participants
preretirement pay multiplied by the number of years he or she has worked for
the employer?
A.A
dedicated retirement plan.
B.A
defined contribution plan.
C.An
employee’s 401k retirement plan.
D.A
defined benefit plan.
Feedback: Correct!
Question 7 of 10
10.0/
10.0 Points
What type of plan allows employers and employees to make
annual contributions to separate accounts established for each articipating
employee, based on a formula contained in the plan document?
A.A
defined contribution plan.
B.A
defined benefit plan.
C.Individual
retirement account (IRA) plan.
D.Roth
IRA plans.
Feedback: Correct!
Question 8 of 10
10.0/
10.0 Points
When the government regulates the health care system and
uses taxpayer dollars to fund health care this system is known as?
A.Multi
payer system of health care.
Correct B.Single
payer system of health care.
C.Government
sponsored health care system.
D.Universal
health care system.
Feedback: Correct!
Question 9 of 10
10.0/
10.0 Points
Congress enacted the Employee Retirement Income Security Act
in what year?
A.1964
B.1865
C.1935
Correct D.1974

Feedback: Correct!
Question 10 of 10
10.0/
10.0 Points
What type of tables are created by actuaries to express
annual probabilities of the ccurrence of health problems?
A.Macro
tables.
B.Mortality
tables.
C.Morbidity
tables.
D.Maintenance
tables.

Question 1 of 10 10.0/
10.0 PointsThe first pension plan in the United States was established
in what year? A. 1865
B. 1759
C. 1964
D. 1776
Feedback: Correct!Question 2 of 10 10.0/
10.0 PointsAccording to the text what percent of workersemployed in the private sector participated in at least one
company-sponsored retirement plan in 2006? A.55% B.19% C.50% D.75% Feedback: Correct! Good work.Question 3 of 10 10.0/
10.0 PointsIn accordance with the text, the second reason for changes
away from participation in defined benefit plans to defined contribution plans
is? A.The
decline of qualified workers. B.Technology
and computer based operations. C.Defined
contribution plans are quite costly toemployers compared to defined benefit plans. D.Defined benefit plans are quite
costly toemployers compared to defined contribution plans Feedback: Best answer!Question 4 of 10 10.0/
10.0 PointsPay, health-care benefits and other benefits such as 401(k)
plans can all make up what type of package? A.A
total compensation package. B.A
retention package C.A
recruiting package. D.A
bonus package. Feedback: Correct!Question 5 of 10 10.0/
10.0 PointsThe term Vesting refers to? A.A
Union classification system. B.An employees nonforfeitable
rights topension benefits. C.The
rate at which participants accumulate(or earn) benefits. D.All
of the above. Feedback: Correct! Good answer.Question 6 of 10 10.0/
10.0 PointsWhat type of retirement plan provides benefits usually
expressed in terms of a monthly sum equal to a percentage of a participants
preretirement pay multiplied by the number of years he or she has worked for
the employer? A.A
dedicated retirement plan. B.A
defined contribution plan. C.An
employee’s 401k retirement plan. D.A
defined benefit plan. Feedback: Correct!Question 7 of 10 10.0/
10.0 PointsWhat type of plan allows employers and employees to make
annual contributions to separate accounts established for each articipating
employee, based on a formula contained in the plan document? A.A
defined contribution plan. B.A
defined benefit plan. C.Individual
retirement account (IRA) plan. D.Roth
IRA plans. Feedback: Correct!Question 8 of 10 10.0/
10.0 PointsWhen the government regulates the health care system and
uses taxpayer dollars to fund health care this system is known as? A.Multi
payer system of health care. Correct B.Single
payer system of health care. C.Government
sponsored health care system. D.Universal
health care system. Feedback: Correct!Question 9 of 10 10.0/
10.0 PointsCongress enacted the Employee Retirement Income Security Act
in what year? A.1964 B.1865 C.1935 Correct D.1974
Feedback: Correct!Question 10 of 10 10.0/
10.0 PointsWhat type of tables are created by actuaries to express
annual probabilities of the ccurrence of health problems? A.Macro
tables. B.Mortality
tables. C.Morbidity
tables. D.Maintenance
tables.