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. Form of health care that provides services for a fixed period on a prepaid basis






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






3. Includes all renumeration for services (including noncash benefits) and wages - which are taxable when paid






4. 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






5. Clauses written into executive contracts that provide special payments to 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






6. 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 coinsurance






7. Refers to a situation where an individual's performance is the basis for either the amount or timing of pay increases; also called performance based pay






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






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






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






11. Refers to a concept that states that employees must be able to influence the attainment of a goal and see a direct result of their efforts in order for incentive pay plans to be effective






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






13. Form of compensation commonly referred to as benefits






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






15. As defined in the FMLA - a condition that requires inpatient hospital - hospice - or residential care or continuing physician care






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






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






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






19. Listing of grouped data - from lowest to highest






20. Payment paid to salespeople - usually calculated as a percentage of sales






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






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






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






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






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






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


27. Type of Section 125 plans that allow employees to choose from a menu of benefits and allocate pretax dollars to pay for those benefits






28. Describes a situation where an employee's pay is below the minimum of the range






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






30. Refers to all forms of financial returns that employees receive from their employers






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






32. Under COBRA - an event - such as termination for reasons other than gross misconduct - that allows employees to continue their group health-care coverage for a specified period of time






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






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






35. System of overlapping short- and long-term incentives to make it less likely that employees will leave the company






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






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






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






39. Refers to pay rates that are affected by when an employee works






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






41. Pay that employees receive when they are called back for an extra shift in the same workday






42. Plan that promises employee a retirement benefit amount based on a formula






43. Excluded federal contractors from overtime pay requirements after eight hours of work in a day; in their case - time and a half must be paid only for hours in excess of 40 per week






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






45. 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)






46. Used to group jobs that have approximately the same relatve internal worth and are paid at the same rate or rate change






47. 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






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






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






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