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Test your basic knowledge |
Human Resources Management: Compensation
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Study First
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
Exempt Employees
COLA (Cost of Living Adjustment)
SUB (supplemental unemployment benefits)
TPA (third-party administrator) health-care plan
2. Create or recognize the right of an alternative payee to receive all or a portion of the benefits under a pension plan
Job evaluation
Long-term care insurance
Tax and Trade Relief Extension Act
QDROs(qualified domestic relations orders)
3. Type of insurance that provides regular payments to the surviving spouse and dependent
Frequency Distribution
Salary continuation
ASO (Administrative Services-Only health-care plan)
Coinsurance
4. Provides each incumbent of a job with the same rate of pay - regardless of performance or seniority; also known as single-rate pay
Guide Chart-Profile
Flat-Rate Pay
EAP's (Employee Assistance Programs)
Walsh-Healey Act
5. Employees who are excluded from FLSA minimum wage and overtime pay requirements
Exempt Employees
Health Insurance Portability and Accountability Act(HIPAA)
Internal equity
Tax Reform Act
6. Persons who live in one country and are employed by an organization based in another country; also called international assignees
POPS(premium-only plans)
Expatriates
Cash Balance Plan
Merit pay
7. Plans that allow employees to make tax-favored pay deferrals toward retirement savings through a payroll deduction plan
Defined Benefit Plan
Medicare Part B
Nonsubscriber plans
401K Plans
8. Pay provided to employees who report for work as scheduled but then find that no work is available
Reporting pay
Copayment
Direct Compensation
Incentive pay
9. Show measures of dispersion - or how groups of data relate to each other
Taxpayer Relief Act (TRA)
EAP's (Employee Assistance Programs)
Preexisting conditions
Percentiles
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
Gatekeeper
Fee-for-Service-Health-Care Plan
COLA (Cost of Living Adjustment)
Hourly wage
11. Amount of employer-provided group-term life insurance over $50 - 000
Point-factor method
Davis-Bacon Act
ERISA (Employee Retirement Income Security Act)
Excess Group-Term Life Insurance
12. Income deferral benefit offered to a select group of management or highly compensated employees in the organization
In loco parentis
Defense Authorization Bill
Nonqualified deferred compensation plan
Comparable Worth
13. Method similar to job evaluation systems that evaluates jobs based upon their market value
Preexisting conditions
Market-based evaluation
Draw
Securities and Exchange Act
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
Salary
Comission
Seniority
Factor Comparison Method
15. Describes the extra pay that employees receive when they are called into work during an emergency (e.g. power outage)
Serious health condition
457 Plans
Involuntary deductions
Emergency-Shift Pay
16. Workers' compensation plans set up by employers/industries in place of their state's compensation plan
Survivor's benefits
Percentiles
Exempt Employees
Nonsubscriber plans
17. Group incentives where a portion of the gains on organization realizes from group efforts is shared with the group
Pay compression
Salary continuation
Gainsharing Plans
TPA (third-party administrator) health-care plan
18. Employees covered under FLSA regulations - including minimum wage and overtime pay requirements
Revenue Act
ESOP's (Employee Stock Ownership Plans)
Emergency-Shift Pay
Nonexempt employees
19. Non-qualified deferred compensation plans that provide benefits to selected management or highly compensated employees beyond section 401 or 415 limitations
Defense Authorization Bill
Pay surveys
Excess Deferral Plans
Private-letter rulings
20. Pay is based on longevity in the job - and pay increases occur on a predetermined schedule
Flat-Dollar Formula
In loco parentis
Time-based step-rate pay
401K Plans
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
Medicare carve-out
Hourly wage
In loco parentis
Nonexempt employees
22. A grantor trust designed to segregate nonqualified deferred compensation benefits from an employer's general accounts
Variable pay
Money purchase plans
Rabbi trust
Portal-to-portal act
23. Jobs used as reference points when setting up a job classification system and when designing or modifying a pay structure
Supplemental wages
Modified-duty programs
Benchmark Jobs
Performance-based pay
24. Occurs when people feel that performance or job differences result in corresponding differences in pay rates
Salary
Nonsubscriber plans
Internal equity
Excess Deferral Plans
25. Shows the number of people or organizations associated with data organized in a frequency distribution
Comission
457 Plans
Individual retirement accounts (IRAs)
Frequency Table
26. Pay that employees receive when they are on call but not actually working
External Equity
Salary continuation
On-call pay
PBGC (Pension benefit guaranty corporation)
27. Act that established the basic uniform standards that must be met by employer-sponsored pension - health and welfare benefit programs
Parachutes
ERISA (Employee Retirement Income Security Act)
Preexisting conditions
Call-Back Pay
28. Act that provides for continuation of group health-care benefits for former employees and their families
Hazard Pay
COBRA (Consolidated Omnibus Budget Reconciliation Act)
Nonsubscriber plans
Travel pay
29. Offered to employees who are on leave for injuries under FMLA; job tasks are modified to meet the employee's restrictions
Davis-Bacon Act
Modified-duty programs
Cash Balance Plan
Indirect compensation
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
Welfare-to-Work Tax Credit
Walsh-Healey Act
Gross Earnings
Defined Contribution Plan
31. Health-care plan in which the employer assumes the role of the insurance company and assumes some or all of the risk
Self-insured health-care plan
Modified-duty programs
Performance-based pay
Base Pay
32. Act that provided certain legal protections for spousal beneficiaries of qualified retirement plans
Broadbanding
Pay ranges
Improshare plan
Retirement Equity Act (REA)
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
Variable pay
Geographic Differential Pay
Flat-Dollar Formula
MHPA (Mental Health Parity Act)
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
OWBPA (older worker's benefit protection act)
Geographic Differential Pay
Capitated Health Care Plan
Market-based evaluation
36. Basic compensation an employee receives - usually as a wage or salary
Base Pay
Benchmark Jobs
Independent contractors
Top hat plan
37. In health plans - requires a secondary carrier to reimburse only up to the level of reimbursement they would have paid.
Golden Parachutes
Nonduplication of benefits
Independent contractors
Gross Earnings
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
Utilization review
HRA(Health reimbursement account)
Premium sharing
On-call pay
39. Written benefit plans maintained by the employer that allow employees to use pretax dollars to pay for certain qualified benefits
Prudent person rule
Section 125 benefit plans
Quartiles
Fee-for-Service-Health-Care Plan
40. Bases employer unemployment insurance on the employer's number of terminated workers
Pay compression
Health Insurance purchasing cooperative (HIPC)
Sarbanes-Oxley Act (SOX)
Experience Rating
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
Point-factor method
Broadbanding
Overtime pay
Premium pay
42. Group incentive plan developed by Joseph Scanlon; workers earn a bonus for increasing productivity
457 Plans
Copeland 'Anti-kickback' Act
Scanlon Plan
Call-Back Pay
43. The total earnings before taxes; includes regular wages plus additional earnings such as tips - bonuses and overtime pay
Medicare Part A
OWBPA (older worker's benefit protection act)
Hazard Pay
Gross Earnings
44. Act that requires benefit continuation and crediting of service while an employee is on military active duty
Parachutes
SBJPA (Small Business Job Protection Act)
Uniformed Services Employment and Reemployment Rights Act (USERRA)
Flat-Dollar Formula
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
Gatekeeper
Vesting
Long-term disability(LTD) coverage
Career-Average Formula
46. Nonqualified deferred compensation plan designed to provide retirement benefits to a select group of management or highly compensated employees
Salary compression
Copeland 'Anti-kickback' Act
Nonsubscriber plans
Top hat plan
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
International assignees
Long-term care insurance
Exempt Employees
Employee Commuting Flexibility Act
48. Refers to a job ranking method in which evaluator compares each job with every other job being evaluated
Internal equity
Paired-comparison method
Indemnity health-care plan
TPA (third-party administrator) health-care plan
49. Distribute a portion of an organization's profits to its employees
Cash Profit-Sharing Plans
Profit-sharing plans
Excess Group-Term Life Insurance
Vesting
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
Comparable Worth
Salary compression
Lifetime maximum benefit
EPA (Equal Pay Act)