Video 3.1 Fill Ins

Quiz
•
Other
•
11th - 12th Grade
•
Hard
Brent Laux
Used 5+ times
FREE Resource
10 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
15 mins • 1 pt
As you enter the workforce, it’s a good idea to be familiar with the components of an employee benefits package. Employee benefits are various _____ - __________ compensations provided to employees in addition to their normal wages or salaries. The purpose of employee benefits is to increase the financial security of staff members, and in doing so, improve worker retention across the organization.
2.
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15 mins • 1 pt
Common employee benefits are retirement plans,
savings plans, ________________, leave (sick, vacation, etc.), stock purchase, educational reimbursement, incentive plans and cafeteria plans. In addition to considering salary when you are offered employment with a company, you should also evaluate the employer’s benefits package.
3.
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15 mins • 1 pt
Simplified Employee Pension Plan (SEP): A self employed
person may deduct up to _____ of their net profit
on the business by investing in a SEP.
4.
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15 mins • 1 pt
__________ is a retirement savings plan offered by a
corporation to its employees. The employee contributes
money to the 401(k) from his/her gross pay, and the
money in the account grows tax deferred. In some cases,
employers will match the employee’s contribution,
but you should fund your plan whether your company
matches or not.
5.
FILL IN THE BLANK QUESTION
15 mins • 1 pt
403(b) is found in ____________________ organizations such as
churches, hospitals and schools.
6.
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15 mins • 1 pt
457 is deferred compensation, which means you are
deferring or putting off compensation. Usually this is
available for ____________________ employees.
7.
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15 mins • 1 pt
Do not use a Guaranteed Investment Contract (GIC)
or bond funds to fund your plan. This is like a CD inside
of your 401(k). You will only make about 3–4%, and it will
not help you win ___________ ___________.
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