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. Refers to pay that is received by an employee - including base pay - differential pay - and incentive pay






2. Act that made significant changes in employee benefit programs - especially retirement plans






3. Health-Care plan in which the employer pays a third party provider to assume all costs for health-care coverage for its employees






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






5. 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.






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






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






8. Instrument that measures change over time for costs of a group of goods and services






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






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


11. '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






12. A grantor trust designed to segregate nonqualified deferred compensation benefits from an employer's general accounts






13. Typically paid to nonexempt workers for the time they spend traveling to or between work assignments






14. Act that provided certain legal protections for spousal beneficiaries of qualified retirement plans






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






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






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






18. Employer-funded plan that reimburses employees only for eligible and substantiated health care expenses






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






20. Reflect the dimensions along which a job is perceived to add value to the organization; these factors are used to determine which jobs are worth more than others






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






22. System used by federal government to classify jobs






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






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






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






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






27. Required for nonexempt workers under FLSA at 1.5 times the regular rate of pay for hours over 40 in a workweek.






28. A reimbursement standard used by insurance companies to determine how much providers should be paid for their services






29. Pay based on where an employee works






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






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






32. 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






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






34. Individual - usually a primary-care physician - who is given control of patient access to specialists and services in a managed care organization






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






36. Amount of employer-provided group-term life insurance over $50 - 000






37. Income tax credit to encourage employers to hire long-term welfare recipients






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






39. Listing of grouped data - from lowest to highest






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






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






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






43. Private body that decides how financial executives should report their firms' financial information to their share-holders






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






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






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






47. 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)






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






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






50. Refers to pay beyond base salary or wages such as bonuses and commissions