Flexible Spending Accounts and Premium-Only Plans Are Versions of Which

question 51

Multiple Choice

Flexible spending accounts and premium-only plans are versions of which cafeteria plan? (Types of Flexible Benefit Plan Arrangements)

• A)Modular
• B)Pretax salary reduction
• C)Core-plus-option
• D)Mix-and-match

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Definitions:

Vesting

The process by which an individual acquires the right to a certain benefit or asset, often used in relation to pension plans and stock options.

Assents

Expressions of approval or agreement.

Obligee

A party who is entitled to receive a benefit or performance from another under the terms of a contract.

Assignee

An individual or entity to whom rights or interests have been transferred by another, especially in contractual or legal contexts.