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Quizzes > Business & Finance

Employee Benefits Quiz: Check Your Knowledge

Quick, free benefits awareness quiz with instant results.

Editorial: Review CompletedCreated By: Emily MckellarUpdated Aug 28, 2025
Difficulty: Moderate
Questions: 20
Learning OutcomesStudy Material
Colorful paper art representing an Employee Benefits Awareness Quiz

This employee benefits quiz helps you check your grasp of workplace perks, from plan options to eligibility and costs. Use it to spot gaps before open enrollment and support team training, alongside our employee training quiz and onboarding knowledge test. For compliance basics, try the employee health and safety quiz.

Which of the following is a common type of employee benefit providing medical coverage?
Life insurance
Retirement plan
Tuition reimbursement
Health insurance
Health insurance covers medical expenses such as doctor visits, hospital stays, and prescriptions, making it a fundamental employee benefit. It reduces out-of-pocket costs for healthcare.
A 401(k) plan primarily serves which purpose?
Disability protection
Health coverage
Retirement savings
Stock purchase plan
A 401(k) plan is a retirement savings vehicle that allows employees to contribute pre-tax dollars toward their retirement. Employer matches may further build retirement assets.
Paid Time Off (PTO) typically combines which types of leave?
Maternity and paternity
Medical and dental
Holiday and bereavement
Vacation and sick leave
PTO consolidates vacation and sick leave into a single bank of days that employees can use for any qualifying absence. This gives workers flexibility to manage time away from work.
Which benefit allows employees to set aside pre-tax dollars for eligible medical expenses?
Health Savings Account (HSA)
Flexible Spending Account (FSA)
Health Reimbursement Arrangement (HRA)
Dependent Care FSA
An FSA lets employees contribute pre-tax income to cover medical expenses such as copays and prescriptions. Funds are deducted before taxes, reducing taxable income.
What term describes the portion of insurance premiums an employer pays on behalf of employees?
Out-of-pocket maximum
Coinsurance
Deductible
Employer subsidy
An employer subsidy refers to the share of insurance premium costs that the employer covers for the employee. It lowers the amount the employee must pay for coverage.
Which criterion must an employee typically meet to be eligible for employer-sponsored health insurance?
Remote work arrangement
At least one year of tenure
Full-time status
Having dependents
Most employer health plans require employees to be classified as full-time to manage risk and cost. Part-time workers are often excluded or have distinct eligibility rules.
What is the key difference between a Health Savings Account (HSA) and a Flexible Spending Account (FSA)?
HSA funds must be used before the plan year ends
HSA balances roll over year-to-year, while FSA balances typically expire
FSA balances roll over year-to-year, while HSA balances typically expire
FSA contributions earn interest but HSA funds do not
HSAs allow unused funds to roll over indefinitely, offering long-term savings benefits. FSAs generally follow a use-it-or-lose-it rule, with limited rollover provisions.
Which term best describes coinsurance in a health plan?
A fixed fee paid at the time of service
A percentage of the allowed cost you pay after meeting the deductible
The portion of the premium paid by the employer
A penalty for using out-of-network providers
Coinsurance is the percentage of covered medical costs that the insured pays after satisfying the deductible. It spreads cost-sharing between insurer and insured.
Under COBRA, eligible employees can continue their health insurance coverage for up to how many months?
6 months
12 months
18 months
36 months
COBRA generally allows continuation of health coverage for up to 18 months after a qualifying event. It helps employees transition in case of job loss.
Which law requires employer-sponsored benefit plans to be non-discriminatory?
Employee Retirement Income Security Act (ERISA)
Health Insurance Portability and Accountability Act (HIPAA)
Family and Medical Leave Act (FMLA)
Affordable Care Act (ACA)
ERISA sets standards for non-discrimination and fiduciary responsibility in employee benefit plans. It ensures benefits are administered fairly for all employees.
When optimizing benefit selections, employees should primarily consider which factor?
Balance between total cost and coverage needs
Proximity of insurer's corporate headquarters
Name recognition of the insurance carrier
Number of plan marketing materials received
Choosing benefits involves weighing premium costs, deductibles, and coverage against personal healthcare needs. This balance impacts overall financial and health outcomes.
Under Affordable Care Act rules, dependent coverage for health plans can extend up to what age?
30
23
26
18
The ACA mandates that health plans allow dependent children to remain on their parents' insurance until age 26. This provision enhances access to coverage for young adults.
What feature best describes a cafeteria plan?
Allows employees to select from various pre-tax benefits
Provides catered meals at work
Awards performance-based bonuses
Offers stock options
A cafeteria plan offers a menu of benefit options that employees choose from, funding selected benefits with pre-tax dollars. This flexibility can reduce taxable income.
If an employer offers a 50% match on the first 6% of salary contributed to a 401(k), how much will the employer contribute if an employee contributes 6%?
6% of salary
50% of salary
9% of salary
3% of salary
A 50% match on up to 6% means the employer contributes half of the employee's contributions. Half of 6% equals 3% of the employee's salary.
The Family and Medical Leave Act (FMLA) provides eligible employees with up to how many weeks of unpaid leave?
24 weeks
12 weeks
6 weeks
18 weeks
FMLA grants eligible employees up to 12 workweeks of unpaid leave for qualifying medical and family reasons. Employers must maintain health benefits during this period.
An employee expects high healthcare usage next year. Plan A has a low premium and high deductible, while Plan B has a higher premium and low deductible. Which plan is likely more cost-effective?
Neither is suitable
Plan B
Both are equal
Plan A
With high expected healthcare expenses, the lower out-of-pocket costs under Plan B's low deductible and copays can offset the higher premiums. This reduces overall spending.
What is the maximum annual Dependent Care Flexible Spending Account (FSA) contribution limit per IRS rules?
$10,000
$5,000
$2,500
$7,500
The IRS sets the annual Dependent Care FSA limit at $5,000 for most taxpayers. This pre-tax benefit helps cover daycare and related expenses.
Under the Affordable Care Act employer mandate, how many full-time equivalent employees triggers the requirement to offer health coverage?
100 employees
200 employees
25 employees
50 employees
The ACA mandate applies to employers with 50 or more full-time equivalent employees, requiring them to offer affordable health coverage or face penalties.
If a 401(k) plan fails the Actual Deferral Percentage (ADP) nondiscrimination test, what must the employer do?
Increase employer match for all employees
Terminate the plan immediately
Limit contributions for all employees
Return excess contributions to highly compensated employees
Failing the ADP test means highly compensated employees contributed too much relative to non-highly compensated employees. Returning excess contributions restores compliance.
A health plan has a $2,000 deductible, 20% coinsurance, and a $5,000 out-of-pocket maximum. If an employee incurs $12,000 in eligible costs, how much will they pay?
$5,000
$6,000
$7,000
$4,000
The employee first pays the $2,000 deductible, then 20% of the remaining $10,000 ($2,000). Total out-of-pocket is $4,000, which does not exceed the $5,000 maximum.
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Learning Outcomes

  1. Identify various types of employee benefits and their purpose
  2. Analyze eligibility criteria for common workplace perks
  3. Evaluate cost-sharing structures in benefit plans
  4. Apply knowledge to optimize benefit selections
  5. Demonstrate understanding of benefits compliance requirements

Cheat Sheet

  1. Understand the menu of employee benefits - Imagine benefits as a delicious buffet: health insurance, retirement plans, paid time off, and wellness programs all serve up unique support for your career and wallet. Exploring each option helps you pick the perfect plate.
  2. Decode eligibility criteria - Not all perks are open to everyone - eligibility often hinges on employment status, tenure, and role. By cracking the code, you'll know exactly which benefits you can snag and when.
  3. Crunch cost-sharing numbers - Health premiums, deductibles, and co-pays can feel like arithmetic homework. Breaking down how much you and your employer each pay helps you plan your budget without any surprise tests.
  4. Strategize your benefit picks - Picking perks is like drafting a dream team: assess your personal goals - coverage, costs, networks - and assemble the squad that scores the highest value. Smart choices now can pay off big later.
  5. Navigate compliance laws - ERISA, ACA, and FMLA sound like secret codes, but they protect your rights and ensure fair play. Knowing these rules keeps you and your employer on the same page and out of trouble.
  6. Build a mighty retirement plan - Think of 401(k)s as time machines for your money: contribute early, collect employer matches, and watch compound interest catapult you into a comfy future. Every dollar saved now is a leg up later.
  7. Unlock wellness program perks - From gym memberships to mindfulness apps, wellness initiatives turn you into a productivity ninja. Focusing on health at work boosts morale, energy, and overall job satisfaction.
  8. Plan your perfect PTO - Vacation, sick days, and personal leave are your secret weapons against burnout. Understanding your paid time off policy keeps your stress levels low and your adventure levels high.
  9. Get savvy with FSAs and HSAs - Flexible spending accounts and health savings accounts let you stash pre-tax cash for medical expenses. Knowing their perks and limits is like finding hidden treasure in your paycheck.
  10. Keep up with benefit law changes - Rules around benefits can shift faster than a viral dance challenge. Staying informed through reliable sources ensures you never miss out on new offerings or compliance updates.
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