Your Path to Success: How to Pass the WorldatWork B1 Regulatory Environments for Benefits Programs Exam

Pricing your products appropriately

Understanding your business and its competitive strengths and weaknesses

Forecasting profit, growth and investment performance to develop realistic budgets

Evaluating prior year performance for the narrative portion of annual financial reports

Earnings

Shares

Market capitalization

Increased market value and reinvested dividends paid

Defined benefit plan

Death benefits

Defined contribution plan

Vision plan   

A technician who works a scheduled shift and performs tasks as assigned according to specifications.

A computer programmer who telecommutes, uses her own equipment and works for multiple employers

An accounts payable specialist who works at the company site utilizing an internal A/P system and pays vendors according to company procedures.

There is no promise of a specific benefit at retirement.

Individual accounts must be maintained for each participant.

They are often integrated with government-sponsored programs.

Employees are at risk for financial resources.   

They require complex actuarial calculations and assumptions.

The benefit is based on a formula that considers pay and service.

They generally provide better benefits to employees with longer service.

The employee assumes the risk for the investments.   

Appropriate study time does not count as hours worked regardless of the educational level of the training program.

No training time is considered hours worked even if it is a condition of employment, since the employee is free to leave the company.

Only educational programs focused on remedial education (up to eighth grade) can be excluded from the 40-hr criteria for time and a half.

Even when the training is required, as long as the classes are outside working time and not on company property, they are not hours worked.

When working in more than one department

When working less time than his or her normal schedule

When working in locations other than the corporate office

When working a holiday or weekend   

Mental health coverage and health care coverage

Pay for time not worked and income protection programs

Unemployment and disability

Defined contribution and defined benefits plans   

Keep them brief

Use multiple media

Include all details related to the issue

Leave backup data out of the presentation so there is time to develop an effective response to unexpected questions