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. Act that addresses parity between mental health benefits and medical benefits.






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






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






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






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






6. '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






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


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






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






10. Used to group jobs that have approximately the same relatve internal worth and are paid at the same rate or rate change






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






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. System that shows preference to employees with the longest service






14. Form of compensation commonly referred to as benefits






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






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






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






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






19. Distribute a portion of an organization's profits to its employees






20. 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






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






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






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






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






25. 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






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






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






28. Employees who are excluded from FLSA minimum wage and overtime pay requirements






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






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






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






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






33. Work having equal skills - equal effort - equal responsibility - and equal working conditions - all performed at the same location






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






35. Stated amount out of pocket the insured can pay for medical costs in a 12-month period before copayments end






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






37. 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






38. Excluded federal contractors from overtime pay requirements after eight hours of work in a day; in their case - time and a half must be paid only for hours in excess of 40 per week






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






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






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






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






43. Type of Section 125 plan that allows employees to pay for certain qualified benefits with pretax dollars






44. Clauses written into executive contracts that provide special payments ot 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 go






45. Amount advanced on future commissions






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






47. Refers to pay rates that are affected by when an employee works






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






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






50. 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