In her organization’s ______ plan, Nicole is paid for each widget she produces.
Answer
Correct Answer:
Piecework
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For every $1,000 of widgets Tanner sells, he receives a ______ of 10%.
Answer
Correct Answer:
Commission
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Juanita’s organization offers flexible benefits. During the open enrollment period, Juanita can choose any benefits she wants. She selects several benefits, including elder care coverage to help her care for her mother. Juanita’s organization is offering a ______ flexible benefits plan.
Answer
Correct Answer:
Full-choice
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Nicole’s organization provides group health insurance. The plan covers “major medical” costs for each employee in any given year that total more than $10,000. Her group health insurance is a ______.
Answer
Correct Answer:
High-deductible health plan (HDHP)
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A ______ plan provides the retiree with a specific amount and type of benefit that will be available when the individual retires.
Answer
Correct Answer:
Defined benefit plan
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______ is a “major medical” insurance plan that protects against catastrophic health-care costs and in most cases is paid for by the employer.
Answer
Correct Answer:
High-deductible health plan (HDHP)
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______ is(are) a kind of hybrid between traditional fee-for-service health plans and HMOs.
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______ is a governmental corporation established within the Department of Labor; its purpose is to insure retirement funds from failure.
Answer
Correct Answer:
PBGC
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______ is a maximum amount of time beyond which the employee will have unfettered access to retirement funds, both employee and employer contributions.
Answer
Correct Answer:
Vesting
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Lucy was working on a jobsite when she was injured. Her employer paid for her doctor’s visit to get stitches because of ______.
Answer
Correct Answer:
Worker’s compensation
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Sasha earns about $100,000 a year. She and her employer both pay 6.2% of Sasha’s pay into ______ by withholding the money from Sasha’s paycheck.
Answer
Correct Answer:
Social Security
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______ are large lump-sum payments executives receive upon dismissal from a merged or acquired firm.
Answer
Correct Answer:
Golden parachutes
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______ are programs that provide a portion of company proceeds over a specific period of time (usually either quarterly or annually) to the employees of the firm through a bonus payment.
Answer
Correct Answer:
Profit sharing programs
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______ is a program to reward top performers with increases in their annual wage that carry over from year to year.
Answer
Correct Answer:
Merit pay
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______ is compensation that depends on some measure of individual or group performance or results in order to be awarded.
Answer
Correct Answer:
Variable pay
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Vesting is a _______ of time beyond which the employee will have unfettered access to their retirement funds
Answer
Correct Answer:
Maximum amount
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_______ depends on some measure of individual or group performance or results in order to be awarded.
Answer
Correct Answer:
Variable pay
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Traditional health care plans cover a ______ of fees for medical services—for either doctors or in-patient care.
Answer
Correct Answer:
Set percentage
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Social loafers avoid providing their ______ in group settings because it is difficult to pick out individual performance.
Answer
Correct Answer:
Maximum effort
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Profit sharing programs provide a portion of company proceeds over a specific period of time
Answer
Correct Answer:
True
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________ is a kind of hybrid between traditional fee-for service plans and hmos.
Answer
Correct Answer:
Preferred provider organizations
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Which of the correct statement about Perquisites
Answer
Correct Answer:
Extra financial benefits usually provided to top employees in many businesses.
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