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






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






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






4. Collect information on prevailing market rates and include topics such as incentive plans - overtime pay - base pay - and vacation and holiday practices.






5. Work having equal skills - equal effort - equal responsibility - and equal working conditions - all performed at the same location






6. Form of base pay that is dependent on the number of hours worked






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






8. Correlate pay with time spent in a professional field such as teaching or research






9. One-time payment made to an employee - also called a performance bonus






10. Large bank of time comprising all an employee's paid time off (i.e. - vacation - sick leave - and holidays) that the employee can use as they see fit






11. Act that established the prevailing wage and fringe benefit requirements for contractors on federally funded construction projects






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






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






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






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






16. Plans in which employers make mandatory payments (a fixed percentage of an eligible employee's compensation) to a retirement plan.






17. Bilateral social security agreements that coordinate the U.S. Social Security program with the comparable programs of other countries; also known as international social security agreements






18. Pay systems in which employee characteristics - rather than the job - determine pay.






19. '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






20. Clauses written into executive contracts that provide special payments ot 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 go






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






22. 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.






23. 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






24. 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)






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






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






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






28. Plan in which the employer and sometimes the employee make an annual payment to the employee's retirement plan account






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






30. Health plan where benefits are reduced for employees eligible for Medicare; Medicare becomes the primary provider






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






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






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






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






35. Listing of grouped data - from lowest to highest






36. Pay based on the quantity of work and outputs that can be accurately measured






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






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






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






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






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






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






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






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

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






46. Act that made changes to improve health-care coverage portability and accessibility






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






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






49. Form of defined benefit plan that defines the promised benefit in terms of a hypothetical account balance and features benefit portability






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