Benefits Administration Practice Exam

About Benefits Administration
Benefit Administration is an important sub-process of human resources in an organization. It involves developing, managing and maintaining employee benefits program for a company.

The usual benefits which are administered include
•    health insurance
•    retirement accounts
•    vacations
•    paid time off
•    parental leave

Benefit administration also enlist the benefits for which an employee qualifies for.  Benefit administration is crucial for talent retention and attraction as well as provide the company with resources needed for the same.

Benefit administration by an HR professional involves the following tasks
-    Enrolling a new employee
-    Administering benefits
-    Updating benefits as per change in company’s policy or employee’s job
-    Stopping benefits on employee exit

Benefits Administration has gained immense popularity across the globe resulting in huge demand for certified professionals.

Why is Benefits Administration important?
Benefits administration provides following benefits which makes it important for an organization
-    Talent attraction
-    Talent retention
-    Increased employee motivation for performance
-    Regulatory or local law compliance
-    Employee Satisfaction

Benefits Administration certified professionals, executives and managers are in high demand in companies across the globe.

Important  Concepts for Benefits Administration

• Employee compensation valuation
• Job Analysis
• Employee Motivation and benefits
• Quantitative analysis
• Benefits Administration
• Manage employee enrollment.
• e-Benefits

Who should take the Benefits Administration Exam?
•    HR  professionals
•    Business owners
•    HR managers and senior executives
•    Anyone who wants to assess their human resources skills
•    Entrepreneurs

Benefits Administration Exam Objectives

Benefits Administration  exam focuses on assessing your skills and knowledge in concepts and application of compensation and benefits administration.

Benefits Administration Exam Pre-requisite

There are no prerequisites for the Benefits Administration exam. Candidate should be well versed  in compensation and benefits administration to clear the exam.

Benefits Administration Certification Course Outline

1. Economic Theories
1.1 Economic theories
1.2 Employee compensation valuation
1.3 ESOPs and its pricing
1.4 Equity in employee benefits
1.5 Labour Markets and Trade Unions

2. Job design
2.1 Job Design
2.2 Job Analysis
2.3 Job Description
2.4 Job Evaluation and Assessment
2.5 Work Measurement
2.6 Management and Ergonomics

3. Employee Motivation and benefits
3.1 Motivation and morale
3.2 Theories of employee motivation
3.3 Objectives of employee motivation
3.4 Types of employee benefits
3.5 Tax obligations
3.6 Statutory employee benefits in India
3.7 Employee benefits alternatives
3.8 Non-monetary benefits
3.9 Deferred compensation plan

4. Quantitative Tools
4.1 Variable Compensation plans
4.2 Retirement plans
4.3 Payroll management
4.4 Incentive determination and employee benefits
4.5 Group incentive payments
4.6 Overtime wages
4.7 Economic Value Added (EVA)
4.8 Quantitative analysis

5. Benefits Administration
5.1 Communicating Employee Benefits
5.2 Manage eligibility and requirements
5.3 Establish validations
5.4 Manage employee enrollment.
5.5 e-Benefits

Exam Format and Information
Certification name – Benefits Administration
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199