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






2. Create or recognize the right of an alternative payee to receive all or a portion of the benefits under a pension plan






3. Type of insurance that provides regular payments to the surviving spouse and dependent






4. Provides each incumbent of a job with the same rate of pay - regardless of performance or seniority; also known as single-rate pay






5. Employees who are excluded from FLSA minimum wage and overtime pay requirements






6. Persons who live in one country and are employed by an organization based in another country; also called international assignees






7. Plans that allow employees to make tax-favored pay deferrals toward retirement savings through a payroll deduction plan






8. Pay provided to employees who report for work as scheduled but then find that no work is available






9. Show measures of dispersion - or how groups of data relate to each other






10. Pay adjustment given to employees regardless of their performance or company profitability; usually linked to inflation; also referred to as a standard percentage raise






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






12. Income deferral benefit offered to a select group of management or highly compensated employees in the organization






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






14. Job comparison method that involves the ranking of each job by each selected compensable factor and then identifying dollar values to develop a pay rate






15. Describes the extra pay that employees receive when they are called into work during an emergency (e.g. power outage)






16. Workers' compensation plans set up by employers/industries in place of their state's compensation plan






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






18. Employees covered under FLSA regulations - including minimum wage and overtime pay requirements






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






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






21. 'In place of a parent'; term used in expansion of FMLA coverage to employees who stand in place of a parent with day-to-day responsibilities to care for and financially support a child or who have a day-to day responsibility to care for or financiall






22. A grantor trust designed to segregate nonqualified deferred compensation benefits from an employer's general accounts






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






24. Occurs when people feel that performance or job differences result in corresponding differences in pay rates






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






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






27. Act that established the basic uniform standards that must be met by employer-sponsored pension - health and welfare benefit programs






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






29. Offered to employees who are on leave for injuries under FMLA; job tasks are modified to meet the employee's restrictions






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






31. Health-care plan in which the employer assumes the role of the insurance company and assumes some or all of the risk






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






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


34. Type of formula used in determining retirement plan payments where the employer pays a set dollar amount for each year of service under the plan






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






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






37. In health plans - requires a secondary carrier to reimburse only up to the level of reimbursement they would have paid.






38. 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






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






40. Bases employer unemployment insurance on the employer's number of terminated workers






41. An effort to make job evaluation more compatible with the de-layering of organizations by combining several salary grades or job classifications with narrow pay ranges into one band with a wider salary spread






42. Group incentive plan developed by Joseph Scanlon; workers earn a bonus for increasing productivity






43. The total earnings before taxes; includes regular wages plus additional earnings such as tips - bonuses and overtime pay






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






45. Type of formula used to determine benefits under a defined benefit pension plan - based on a percentage of pay for each year the employee is in the plan or a percentage of career-average pay times years of service






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






47. Refers to insurance coverage that provides a daily monetary benefit to people who are chronically ill and who require living assistance either at home or in a residential facility






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






49. Distribute a portion of an organization's profits to its employees






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