LESSON 5 MIDTERMS

Question 1

Types of benefits

Answer 1

• Medicinal insurance
• Life insurance
• Disability insurance
• Retirement plans

Question 2

Mandatory and Voluntary benefits

Answer 2

• Social security system (SSS)
• Home Development Mutual Fund (HDMF)
• Philippine Health Insurance Corporation (PhilHealth)

Question 3

The process of assembling and managing benefits an organization
provides to their employees is called??

Answer 3

benefits administration

Question 4

The aim of benefits program centers in making the employees
understand how the benefit works for them. T OR F

Answer 4

TRUE

Question 5

Examples of employee benefit structures

Answer 5

• Organizational oriented benefits
• Consumer oriented benefits
• Flexible benefits

Question 6

is an employee benefits program that allows employees to choose from a menu of various benefits and allocate their compensation package according to their individual needs and preferences.

Answer 6

Flexible benefits

Question 7

Benefits administration and technology

Answer 7

• Efficiency and accuracy
• Data driven insight
• Meaningful engagement

Question 8

Communicating employee benefits

Answer 8

• Go back t basics
• Know your audience
• Think external and internal
• Do not just communicate with your employees,
  engage them
• Create social norms

Question 9

Recent developments in benefit and
benefit administration

Answer 9

Professional and career development benefits
* Wellness benefits
* Retirement benefits
* Flexible working arrangements
* Financial and compensation benefits