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






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






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






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






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






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






7. Refers to a concept that states that employees must be able to influence the attainment of a goal and see a direct result of their efforts in order for incentive pay plans to be effective






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






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






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






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






12. Type of Section 125 plans that allow employees to choose from a menu of benefits and allocate pretax dollars to pay for those benefits






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






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






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






16. 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






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






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






19. Clauses written into executive contracts that provide special payments to 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






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






21. Type of formula used to determine retirement plan payments based on the average earnings during a specified number of years






22. 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






23. Listing of grouped data - from lowest to highest






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






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






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






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






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






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






30. Associated with pay grades; they set the upper and lower bounds of possible compensation for individuals whose jobs fall in the range.






31. Bilateral social security agreements that coordinate the U.S. social security program with the comparable programs of other countries; also known as totalization agreements






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






33. Describe situations where employees' pay is above the range maximum






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






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






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






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






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


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






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






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






42. 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






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






44. 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






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






46. Under COBRA - an event - such as termination for reasons other than gross misconduct - that allows employees to continue their group health-care coverage for a specified period of time






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






48. Pay is based on longevity in the job - and pay increases occur on a predetermined schedule






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






50. Most commonly used method of job evaluation; it involves using specific factors to evaluate job worth