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. Optional medical coverage for persons covered by Medicare






2. Act that provided certain legal protections for spousal beneficiaries of qualified retirement plans






3. Minimum hourly amount - determined by Congress - that nonexempt employees can be paid






4. Uniform amount of money paid to a worker regardless of how many hours are worked






5. Workers who are not under FLSA regulations as determined by the IRS 20-Factor Test






6. Refers to pay beyond base salary or wages such as bonuses and commissions






7. Rulings issued by the IRS to specific taxpayers or organizations who request an interpretation of the law






8. 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






9. Show measures of dispersion - or how groups of data relate to each other. There are four quartiles to any set of data - with 25% of the data falling into each quartile.






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






11. Medical conditions that existed before a health-care policy is taken out






12. Amount of employer-provided group-term life insurance over $50 - 000






13. Health-care plan in which the employer assumes the risk of high health-care costs and hires an independent claims department to handle claims






14. Refers to pay earned by employees who work in an environment that is considered more risky from a safety or health point of view






15. Set of 20 factors that the IRS uses to determine whether workers are employees or independent contractors






16. Act that requires benefit continuation and crediting of service while an employee is on military active duty






17. Act that regulates employee overtime status (exempt and nonexempt) - child labor - minimum wage - overtime pay - record keeping - and other administrative concerns






18. Mandatory benefits program set up as part of the Social Security Act that is designed to provide a subsistence payment to employees between jobs






19. Associated with pay grades; they set the upper and lower bounds of possible compensation for individuals whose jobs fall in the range.






20. Act that provides employees with the opportunity to take up to 12 weeks of unpaid leave to care for family members or because of a serious health condition of the employee






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






22. Imposed a mandatory 20% federal income tax witholding requirement on qualified retirement plan proceeds that a recipient does not roll over into another qualified retirement plan or individual retirement account






23. Plans that allow employees of states - political subdivisions or agencies of states - and certain tax-exempt organizations to defer receipt of wages






24. Benefits paid to unemployed workers beyond required government unemployment benefits






25. Audit of health-care use and charges to identify which benefits are used and to make certain that care is necessary and costs are in line






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






27. 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






28. Listing of grouped data - from lowest to highest






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






30. Amendment to the Portal to Portal Act; Clarifies that commuting time is not paid working time






31. Workers who are covered under FLSA regulations as determined by the IRS 20-factor test






32. Shows the number of people or organizations associated with data organized in a frequency distribution






33. Instrument that measures change over time for costs of a group of goods and services






34. Occurs when there is only a small difference in pay between employees regardless of their skills - experience - or seniority; also known as salary compression






35. Act that created tax-advantaged savings mechanisms - including Roth IRAs and Education IRAs - for individual taxpayers.






36. Occurs when there is only a small difference in pay between employees regardles of their skills - experience - or seniority; also known as pay compression






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






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






39. Type of Section 125 plan that allows employees to use pretax dollars to pay for certain out of-pocket health and dependent-care expenses


40. Evaluation method that groups jobs into a predetermined number of grades or classifications - each having a class description to use for job comparisons






41. Act that made changes to improve health-care coverage portability and accessibility






42. Income tax credit to encourage employers to hire long-term welfare recipients






43. Group incentives where a portion of the gains on organization realizes from group efforts is shared with the group






44. Stated amount out of pocket the insured can pay for medical costs in a 12-month period before copayments end






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






46. Health plan that covers specific expenses not covered by Medicare






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






48. Provide employees with payments based on the organization's profitability that are additional to the employee's normal rates of pay






49. Mandatory hospital coverage for persons covered by Medicare.






50. Written benefit plans maintained by the employer that allow employees to use pretax dollars to pay for certain qualified benefits