E-PolyLearning

1. In employees' pension plan, a portion of employees' earnings contribution into the fund is classified as
a. cash balance plans
b. early retirement window
c. deferred profit sharing plan
d. savings and thrift plan
View Answer Report Discuss 50-50!
Answer: (d).savings and thrift plan

2. The pension plan, in which specific amount of profit is transferred to employees account, that are payable at the time of retirement or death is classified as
a. deferred profit sharing plan
b. savings and thrift plan
c. cash balance plans
d. early retirement window
View Answer Report Discuss 50-50!
Answer: (a).deferred profit sharing plan

3. A pension plan, an employer's acknowledgement of financial standing of employee's account, placing percentage on the basis of annual compensation and interest, regarded as
a. cash balance plan
b. severance pay plan
c. early retirement window plan
d. employee stock ownership plan
View Answer Report Discuss 50-50!
Answer: (a).cash balance plan

4. A plan to accommodate employees' preferences of planning for benefit, classified as
a. cafeteria benefit plans
b. fixed benefit plans
c. flexible benefit plans
d. both a and c
View Answer Report Discuss 50-50!
Answer: (c).flexible benefit plans

5. The kind of pension plan in which employer's contribution is specified in employee's retirement savings funds is classified as
a. defined benefit pension plan
b. defined contribution pension plan
c. defined noncontributory pension plan
d. deferred contribution pension plan
View Answer Report Discuss 50-50!
Answer: (b).defined contribution pension plan

Page 1 of 43