Cycle To Work - Big Changes For 2015
It's a big year for Salary Sacrifice at Reward Gateway with massive improvements being made to our payroll management system and huge changes to the employee service experience.
It's important that you are confident on the knowledge learnt in the session and to ensure you understand some of the key principals so you are ready to let your client's know how they can optimise their Reward Gateway programme.
This exam must be completed by everyone who attended the training session. There will also be a practical task which will be set by your managers.
- 1.
Halfords can cater to the broadest range of employees and cyclists - Why can Halfords offer access to a wider choice of bike brands than any other scheme provider?
- 2.
Why can Halfords offer access to certain bike brands no other scheme provider can?
- 3.
What makes Halfords unique about how it sources bikes and how does this in turn impact on the savings to customers?
- 4.
How many local independent bike shop partners does Halfords have?
- 5.
In what 2 ways do Halfords offer ongoing value throughout the hire term?
- 6.
Name Halfords new London based stores which are a key part of the change in their image.
- 7.
How many Bike Brands does Halfords stock?
- A.
All of them
- B.
100's
- C.
30 +
Correct Answer
C. 30 +Explanation
Halfords stocks more than 30 bike brands. This indicates that they have a wide range of options available for customers to choose from.Rate this question:
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- 8.
If an employee is on NMW what's the most they can expect topay for a bike?
- A.
£24
- B.
£125
- C.
£19
- D.
£50
Correct Answer
C. £19Explanation
If an employee is on the National Minimum Wage (NMW), the most they can expect to pay for a bike is £19. This suggests that there may be some sort of subsidy or assistance available for employees on NMW to purchase a bike at a reduced cost.Rate this question:
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- 9.
Halfords don't charge employees to extend the hire ensuring employees savings through the scheme are not reduced in any way.This is in contrast to some other scheme providers who require a lump sum payment as a deposit when extending the hireThe typical cost for employees on a bike originally costing over £500 is 7%.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Halfords offers a scheme where employees can hire bikes without any charge for extending the hire. This ensures that employees can save money through the scheme without any reduction. In contrast, some other scheme providers require a lump sum payment as a deposit when extending the hire, which can reduce the employee's savings. The typical cost for employees on a bike originally costing over £500 is 7%. Therefore, the statement that Halfords doesn't charge employees to extend the hire and ensures their savings are not reduced is true.Rate this question:
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- 10.
If an employee wants a bike for over £1000 they can pay the rest in cash or via a Net salary deduction.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Employees cannot pay the rest of the amount for a bike costing over £1000 through a net salary deduction.Rate this question:
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- 11.
Employee can get a bike for themselves and one for a partner via Cycle to Work.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because an employee can only get a bike for themselves through the Cycle to Work scheme, not for a partner.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Feb 27, 2015Quiz Created by
Philip Noble
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