Test your basic knowledge |

Human Resources Management: Compensation

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Refers to pay rates that are affected by when an employee works






2. Pay that employees receive when they are on call but not actually working






3. Extra pay for working holidays or vacation days.






4. Specified percentage (typically 20-30%) of covered medical expenses that employee pays or the fixed dollar amount that a covered person pays each time he or she visits a physician; also known as copayment






5. Determined by an array of issues such as business ownership (employee owns more than 5% of the firm) and/or salary (for 2003 - and 2004 - $90 - 000)






6. Mandatory hospital coverage for persons covered by Medicare.






7. Type of Section 125 plan that allows employees to pay for certain qualified benefits with pretax dollars






8. Pay is based on longevity in the job - and pay increases occur on a predetermined schedule






9. Form of direct compensation where employers pay for performance beyond normal expectations to motivate employees to perform at higher levels






10. Payroll deductions selected by the employee such as charitable contributions






11. Act that reduced the compensation limits in qualified retirement programs






12. Non-qualified deferred compensation plans that provide benefits to selected management or highly compensated employees beyond section 401 or 415 limitations






13. Act that extended the concept of prevailing wage to employers who manufacture or supply goods under government contracts and required time and a half






14. Requires administrators of defined contribution plans to provide notice of covered blackout periods; provides whistle-blower protection for employees






15. Collect information on prevailing market rates and include topics such as incentive plans - overtime pay - base pay - and vacation and holiday practices.






16. Monthly benefits paid under Social Security to eligible dependents of deceased workers

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17. Full-choice health-care plan that allows covered employees to go to any qualified physician or hospital and submit claims to the insurance company






18. Retirement plan by which employees cna contribute each year to a 401(k) plan or IRA






19. Rulings published by the IRS as general guidelines to all taxpayers






20. Nonqualified deferred compensation plan designed to provide retirement benefits to a select group of management or highly compensated employees






21. Private body that decides how financial executives should report their firms' financial information to their share-holders






22. Pay based on the quantity of work and outputs that can be accurately measured






23. Persons who live in one country and are employed by an organization based in another country






24. Premium ammount that a company pays on behalf of an employee; the employee does not receive the benefit in dollars but does pay taxes on it






25. Act that amends the Work Opportunity Tax Credit to reduce employer federal tax liability






26. Form of insurance carried by employers for their employees that provides a lump-sum payment to the employee's beneficiaries






27. Basic compensation an employee receives - usually as a wage or salary






28. Refers to pay that is received by an employee - including base pay - differential pay - and incentive pay






29. Optional medical coverage for persons covered by Medicare






30. Describe situations where employees' pay is above the range maximum






31. Correlate pay with time spent in a professional field such as teaching or research






32. Allows employees to advance via either a management or technical track within the organization






33. Replaces a portion of an employee's lost income after short-term disability coverage ends; may be combined with Social Security disability






34. Method similar to job evaluation systems that evaluates jobs based upon their market value






35. Act that provides for continuation of group health-care benefits for former employees and their families






36. Average of data that takes other factors such as the number of incumbents into account






37. Act that defines what is incuded as hours worked and is therefore compensable and a factor in calculating overtime






38. Bilateral social security agreements that coordinate the U.S. Social Security program with the comparable programs of other countries; also known as international social security agreements






39. Concept that states that jobs filled primarily by women should have the same job classification and salary as similar jobs filled by men






40. Reflect the dimensions along which a job is perceived to add value to the organization; these factors are used to determine which jobs are worth more than others






41. Refers to a job ranking method in which evaluator compares each job with every other job being evaluated






42. Clauses written into executive contracts that provide special payments ot key executives who might lose their position or be otherwise disadvantaged if another company took control of the organization through a merger or acquisition; also known as go






43. Jobs used as reference points when setting up a job classification system and when designing or modifying a pay structure






44. Act that addresses parity between mental health benefits and medical benefits






45. Type of health-care plan in which the physician is paid on a per capita (per head) basis rather than for actual treatment provided






46. Evaluation method that establishes a hierarchy of jobs from lowest to highest based on overall importance to the organization






47. A system by which qualified retirement plan participants become incrementally vested over a period of years of service






48. Eliminates the duplication of payments when the employee - spouse - or dependents have coverage under two or more plans






49. General term for a medical plan that seeks to ensure that the treatments a person receives are medically necessary and provided in a cost-effective manner.






50. Plan in which the employer and sometimes the employee make an annual payment to the employee's retirement plan account