2. Excess Group-Life Insurance is subject to which taxes?

Medicare

Social Security

FIT

All of the above

3. What benefits can be provided in a Section 125 Cafeteria plan?

All of the above

Scholarships

Discounts

Medical Insurance

4. Any employee received an employer contribution of $250 towards flexible benefits. Since the employee's spouse has medical insurance, the employee wishes to receive the $250 benefit in cash. What are the allowable choices?

Employee can only purchase benefits with the $250. Use or lose it.

Employee can take the $250 as non-taxable income

None of the above

Employee can take the $250 as taxable income

5. The employee receives $100,000 in group-life insurance. The employee is 50 years-old.

What is the monthly taxable benefit to the employee?

6. Third-party sick pay received after the first 6 months is subject to which taxes?

Social Security

FUTA

Medicare

None of the above