One Approach That Readily Identifies Inefficiencies in the Administration of Benefit

question 94

Multiple Choice

One approach that readily identifies inefficiencies in the administration of benefit plans is a:

• A)benefit audit.
• B)retention audit.
• C)benefit survey.
• D)compensation audit.
• E)benefit analysis.

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Definitions:

Appraised Value

The estimated monetary value of a property or asset, determined by a professional appraiser based on its characteristics and market conditions.

Rescission

A remedy in contract law that returns both parties to a contract back to their original positions before the contract was entered into.

Undue Influence

The exercise of improper influence by one person over another to persuade them to act in a way that is contrary to their own interests.

Breach of Contract

The failure, without legal justification, to fulfill one's obligations under a contract.