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. Workers' compensation plans set up by employers/industries in place of their state's compensation plan






2. 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






3. Act that requires benefit continuation and crediting of service while an employee is on military active duty






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






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






6. 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






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






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






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






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






11. 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






12. 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






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

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






15. Health plan that covers specific expenses not covered by Medicare






16. 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






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






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






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






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






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






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






23. 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






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






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






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






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






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






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






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






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






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






33. Pay based on where an employee works






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






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






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






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






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






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






40. Refers to a situation where an individual's performance is the basis for either the amount or timing of pay increases; also called performance based pay






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






42. Extra pay for working holidays or vacation days.






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






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






45. 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






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






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






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






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






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