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. Eliminates the duplication of payments when the employee - spouse - or dependents have coverage under two or more plans






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






3. Pay that is based on when the employee works (e.g. - overtime pay - shift-pay differential) or where the employee works; also called differential pay






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






5. Workers who are covered under FLSA regulations as determined by the IRS 20-factor test






6. Listing of grouped data - from lowest to highest






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






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






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






10. Non-qualified deferred compensation plans that provide benefits to selected management or highly compensated employees beyond section 401 or 415 limitations






11. Amount advanced on future commissions






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






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






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






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






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






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






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






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






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






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






23. Evaluation method that groups jobs into a predetermined number of grades or classifications - each having a class description to use for job comparisons






24. Evaluation method that establishes a hierarchy of jobs from lowest to highest based on overall importance to the organization






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






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






27. Basic compensation an employee receives - usually as a wage or salary






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






29. Mandatory benefits program set up as part of the Social Security Act that is designed to provide a subsistence payment to employees between jobs






30. Monthly benefits paid under Social Security to eligible dependents of deceased workers

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






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






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






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






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






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






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






38. 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






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






40. System used by federal government to classify jobs






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






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






43. Form of direct compensation where employers pay for performance beyond normal expectations to motivate employees to perform at higher levels






44. 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 copayment






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






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






47. 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






48. 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






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






50. 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