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. Concept that states that jobs filled primarily by women should have the same job classification and salary as similar jobs filled by men






2. Tax-deferred accounts to which wage earners can contribute an amount up to a yearly maximum






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






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






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






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






7. A system by which qualified retirement plan participants become incrementally vested over a period of years of service






8. 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






9. Act that determined that older workers may not be discriminated against by performance-based pay systems






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






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






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






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






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






15. 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






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






17. Act that made changes to rules regarding the ability of tax-exempt organizations to institute retirement plans modeled after 401(k) and IRA accounts and to the definition of highly compensated employees






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






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






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






21. 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






22. Persons who live in one country and are employed by an organization based in another country






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






24. Act that added two sections to the Tax Code: Section 125 and Section 401(k)






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






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






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






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






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






30. 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






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






32. States that an ERISA plan fiduciary has legal and financial obligations not to take more risks when investing employee benefit program funds than a reasonably knowledgeable - prudent investor would under similar circumstances.






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






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






35. Act that prohibits federal contractors from receiving kickbacks from employees or subcontractors for wages earned on federal projects


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






37. Maximum dollar amount of covered medical expenses that a health-care plan will pay on behalf of any covered person during that person's lifetime.






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






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






40. Act that defines what is incuded as hours worked and is therefore compensable and a factor in calculating overtime






41. Payroll deductions such as tax levies and court-ordered child support that an employee must pay; withheld from paychecks before voluntary deductions






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






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






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






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






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






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






48. Purchaes health-care plans for large groups of employers to provide small businesses the economic advantages large companies have






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






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