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






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






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






4. 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






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






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 copayment






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






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






9. Plans that allow employees of certain tax-exempt organizations to contribute pre-tax dollars toward retirement savings






10. System that shows preference to employees with the longest service






11. Social Security Administration program that provides medical care for the aged; is taxed with no yearly maximum and is matched by the employer






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






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






14. The pay level divided by the midpoint of the pay range






15. Mandatory hospital coverage for persons covered by Medicare.






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






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






18. Form of compensation commonly referred to as benefits






19. Process by which a retirement benefit becomes nonforfeitable






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






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






22. 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






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






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






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






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






27. Act that prohibits wage discrimination by requiring equal pay for equal work






28. Set up by ERISA to insure payment of defined benefit pension plan benefits in the event that private-sector defined benefit pension plan terminates with insufficient funds to pay the benefits






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






30. 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






31. 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






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






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






34. Refers to the identified time period and ending point that should be identified in incentive pay plans






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






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






37. Refers to a qualified - tax deferred retirement plan where the employer contributes a percentage of profits to employee accounts






38. Stock bonus plans by which employees gain ownership in the organization for which they work


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






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






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






42. 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






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






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






45. Tax-deferred account to whcih the self-employd and employees of very small businesses can contribute






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






47. Retirement benefit offered to all employees in the organization; provides tax advantages and is protected under ERISA






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






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






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