Benefits Training Day 2
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Please refer to the "Exercise for Mastery Homework" Word Doc in the Day 1 folder in Box for directions on completing the homework assignment. All screen shots should be attached to that Word doc and turned in at the very end of the 2 week training period.https://infinisource.box.com/s/ekngnn4qkp2ubrd2dv9h
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About This Quiz
Medical, Dental and Vision Plans
These types of plans all have the following in common. Benefit Calculation: Rate Table Deduction Calculation: Flat Dollar Memo Calculation: Flat Dollar
This certification test contains questions of different formats. The format of the questions include multiple choice; true/false and fill in the blank etc. . . Please remember to chose the See morebest response to each question. You are able to use your notes and participation guide along with the ISolved system while taking the test. Read carefully. In order to obtain your certification, you must score a passing score of 75 percent. Good Luck!
Quiz Preview
- 2.
Putting the Third Party in the “Provider Field” on the Plans tab will send the money collected from this plan to the Third Party.
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True
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False
Correct Answer
A. FalseExplanation
Putting the Third Party in the "Provider Field" on the Plans tab will not send the money collected from this plan to the Third Party.Rate this question:
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- 3.
If you get the Benefit Type wrong on your plan you can always change it later.
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True
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False
Correct Answer
A. FalseExplanation
You cannot always change the Benefit Type on your plan later if you get it wrong. Once you have selected a Benefit Type, it may not be possible to change it, or there may be limitations and restrictions on changing it. It is important to carefully consider and select the correct Benefit Type when choosing a plan.Rate this question:
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- 4.
If pay items are not engaged and payroll is run, deductions and memo calcs will still execute on the payroll.
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True
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False
Correct Answer
A. FalseExplanation
If pay items are not engaged and payroll is run, deductions and memo calcs will not execute on the payroll. This means that any deductions or memo calculations that are supposed to be applied to the payroll will not be processed if the pay items are not engaged. Therefore, the statement is false.Rate this question:
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- 5.
You must always have a number (even if it is a 0) in the “Following ____days of service” field under New Hire Probation Period on the Plans tab. It cannot ever be left blank.
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because the "Following ____ days of service" field under New Hire Probation Period on the Plans tab must always have a number, even if it is zero. This field is used to specify the number of days an employee must complete as a probationary period before they are considered a permanent employee. Leaving it blank would mean that there is no probation period, which is not allowed.Rate this question:
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- 6.
The Start and Stop Date fields on the Plans tab must be no more than 365 days apart.
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True
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False
Correct Answer
A. FalseExplanation
The statement is false because there is no restriction on the number of days between the Start and Stop Date fields on the Plans tab. The dates can be more than 365 days apart if needed.Rate this question:
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- 7.
The Start and Stop Date fields on the Rates tab must be no more than 365 days apart.
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because the Start and Stop Date fields on the Rates tab should not exceed a 365-day time frame. This requirement ensures that the rates set for a specific time period do not extend beyond a year, maintaining accuracy and relevance. By limiting the duration to 365 days, it allows for proper management and control of rates within a reasonable timeframe.Rate this question:
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- 8.
Eligibility Rules are not required for COBRA integration.
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True
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False
Correct Answer
A. TrueExplanation
COBRA (Consolidated Omnibus Budget Reconciliation Act) is a federal law that allows employees to continue their health insurance coverage after leaving their job. Eligibility rules are not required for COBRA integration because COBRA allows employees to continue their coverage regardless of their eligibility status. COBRA provides a temporary extension of coverage, typically for up to 18 months, to individuals who would otherwise lose their health insurance due to certain qualifying events such as job loss or reduction in work hours. Therefore, eligibility rules do not apply to COBRA integration.Rate this question:
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- 9.
If no Eligibility Rules are listed, everyone in the entire company is eligible for that plan.
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True
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False
Correct Answer
A. TrueExplanation
If no eligibility rules are listed for a plan, it means that there are no specific criteria or requirements that need to be met in order to be eligible for that plan. This implies that every employee in the entire company is eligible for the plan, regardless of their position, tenure, or any other factors. Therefore, the statement "If no Eligibility Rules are listed, everyone in the entire company is eligible for that plan" is true.Rate this question:
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- 10.
If I wanted to make an HSA available only to EEs that have chosen an HDHP, I would mark the “Dependent on Existence of Plans” on the HSA and list the HDHP as the Selected Benefit Plan.
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True
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False
Correct Answer
A. TrueExplanation
By marking the "Dependent on Existence of Plans" on the HSA and listing the HDHP as the Selected Benefit Plan, it ensures that the HSA is only available to employees who have chosen an HDHP. This means that employees who have not chosen an HDHP will not have access to the HSA. Therefore, the statement is true.Rate this question:
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- 11.
You should always mark the “Validate Min/Max Dependents” tab on the Rates tab.
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True
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False
Correct Answer
A. FalseExplanation
Marking the "Validate Min/Max Dependents" tab on the Rates tab is not necessary. This tab is used to validate the minimum and maximum number of dependents allowed for a particular rate. However, if this validation is not required or relevant for the specific scenario, there is no need to mark this tab. Therefore, the correct answer is False.Rate this question:
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- 12.
Dependent age-out always happens at age 26 for medical benefits. You need to check with the customer (or their broker) to find out the age-out for other types of benefits.
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True
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False
Correct Answer
A. TrueExplanation
Dependent age-out refers to the point at which a dependent can no longer be covered under a medical benefits plan. According to the given information, this age-out always occurs at age 26 for medical benefits. Therefore, the statement "Dependent age-out always happens at age 26 for medical benefits" is true. However, the age-out for other types of benefits may vary and would need to be confirmed with the customer or their broker.Rate this question:
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- 13.
Rate tables can be edited each year by changing the amounts and dates on each coverage code.
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True
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False
Correct Answer
A. FalseExplanation
Rate tables can be edited each year by changing the amounts and dates on each coverage code - This statement is false. Rate tables are not necessarily edited every year. The frequency of editing rate tables depends on various factors such as changes in market conditions, regulatory requirements, and company policies. Therefore, it is not accurate to say that rate tables are edited each year.Rate this question:
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- 14.
If the rates are based off of zip code, you must set up separate benefit plans to accommodate this.
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True
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False
Correct Answer
A. FalseExplanation
Setting up separate benefit plans based on zip code is not necessary. The rates can be adjusted based on the zip code without having to create separate benefit plans.Rate this question:
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- 15.
The “COBRA Eligible” box must only be checked if the customer has the Infinisource COBRA integration. Otherwise, it is not necessary to use this box because it doesn’t do anything.
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True
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False
Correct Answer
A. TrueExplanation
The "COBRA Eligible" box should only be checked if the customer has the Infinisource COBRA integration. If the customer does not have this integration, checking the box is unnecessary as it does not have any effect or functionality.Rate this question:
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- 16.
If the customer is going to have eBN Carrier Feeds, you do not need to put a Third Party in the “Provider” field on the Plans tab.
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True
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False
Correct Answer
A. FalseExplanation
If the customer is going to have eBN Carrier Feeds, it is necessary to put a Third Party in the "Provider" field on the Plans tab. This means that the correct answer is False.Rate this question:
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- 17.
“What is the Integration Code” field for on the Plans tab?
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Nothing. It’s not used.
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It is used for eBN Carrier Feeds
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It is used to integrate the plan with payroll.
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It is used for COBRA integration.
Correct Answer
A. It is used for COBRA integration.Explanation
The Integration Code field on the Plans tab is used for COBRA integration. This means that the code entered in this field helps to integrate the plan with COBRA, which is a federal law that allows employees to continue their health insurance coverage after leaving their job. This integration ensures that the plan is properly administered and that the necessary information is communicated to the appropriate parties for COBRA compliance.Rate this question:
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- 18.
The “Effective Dates Based On” field on the Plans tab is:
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Used to determine when the new rates will appear on the payroll.
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Difficult to determine for bi-weekly payrolls
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Will change FSA and HSA amounts if the field is switched back and forth.
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All of the above.
Correct Answer
A. All of the above.Explanation
The "Effective Dates Based On" field on the Plans tab is used to determine when the new rates will appear on the payroll. It can be difficult to determine for bi-weekly payrolls. Additionally, if the field is switched back and forth, it will change FSA and HSA amounts. Therefore, all of the above statements are correct.Rate this question:
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Quiz Review Timeline (Updated): Mar 20, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Dec 08, 2014Quiz Created by
Joan Olejniczak
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