CCP Benefits Design & Administration

Question 1

Which type of health plan requires employees to select a primary care physician and obtain referrals to see specialists?

Accepted Answer

Health Maintenance Organization (HMO)

Answer

HMOs require members to choose a primary care physician who coordinates all care and provides referrals to specialists within the network.

Question 2

Under ERISA, what is the maximum number of days an employer has to deposit employee 401(k) contributions into the plan trust after the pay date for large plans?

Accepted Answer

15 business days

Answer

The DOL's safe harbor rule for large plans (generally 100+ participants) requires deposits within 15 business days following the month in which amounts are withheld.

Question 3

A Health Savings Account (HSA) can only be used in conjunction with which type of health plan?

Accepted Answer

High-Deductible Health Plan (HDHP)

Answer

IRS rules require that an individual be enrolled in a qualified High-Deductible Health Plan to be eligible to contribute to an HSA.

Question 4

Which benefit is classified as a legally required benefit under U.S. federal law?

Accepted Answer

Social Security contributions

Answer

Social Security (FICA) contributions are mandated by federal law for most employers and employees, making them a legally required benefit.

Question 5

What is the primary purpose of a Flexible Spending Account (FSA) in an employee benefits program?

Accepted Answer

To allow employees to pay for eligible expenses with pre-tax dollars

Answer

An FSA allows employees to set aside pre-tax dollars from their paycheck to pay for qualified medical or dependent care expenses, reducing taxable income.

(CCP) Certified Compensation Professional Practice Test

(CCP) Certified Compensation Professional Practice Test

CCP Benefits Design & Administration