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






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






3. Allows employees to advance via either a management or technical track within the organization






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






5. 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






6. 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






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






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






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






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






11. Act that reduced the compensation limits in qualified retirement programs






12. Optional medical coverage for persons covered by Medicare






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






14. 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






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






16. Provides each incumbent of a job with the same rate of pay - regardless of performance or seniority; also known as single-rate pay






17. 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






18. Plans that allow employees of certain tax-exempt organizations to contribute pre-tax dollars toward retirement savings






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






20. 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.






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






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






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






24. 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






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






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






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






28. Social Security Administration program that provides medical care for the aged; is taxed with no yearly maximum and is matched by the employer






29. Provide counseling and help to employees having emotional - physical or personal problems


30. 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






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






32. Act that regulated 'insider trading'






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






34. Retirement plan by which employees cna contribute each year to a 401(k) plan or IRA






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






36. Average of data that takes other factors such as the number of incumbents into account






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






38. Refers to the identified time period and ending point that should be identified in incentive pay plans






39. Plans that allow employees of states - political subdivisions or agencies of states - and certain tax-exempt organizations to defer receipt of wages






40. Workers who are not under FLSA regulations as determined by the IRS 20-Factor Test






41. Monthly benefits paid under Social Security to workers (and eligible dependents) younger than the Social Security retirement age if they have a disability






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






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






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






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






46. Companies that conduct business and have offices in a number of different countries






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






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






49. 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






50. Pay based on where an employee works