Money Management Ch 6

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chapter 6 test obrien 2012

recruit new members, engage in collective bargaining, support political candidates who support members' interest, provide support services for members

main functions of a union leader

professional organizations

What is a nonunion group of people who have the same occupations, training, specialized skills, etc.?

teacher's union

largest union in US by membership

telecommuting

working from somewhere other than your office

no specialized workers; everyone does everything

job rotation

2 people share one full-time position

job sharing

flextime

determining your own schedule

compressed workweek

squishing workweek into 4 days instead of 5

401k/403b, pension, healthcare

trifecta of benefits

privately employed

401k is for employees who are ___

government employed

403b is for employees who are ___

getting stock in your own company

stock options

bonus

inventive-based pay based on quality of work done, years of services, and company sales/profits

some, all, or no

companies can offer _____ benefits

life insurance

money given to those dependent on you upon your death

deduction: no choice; effective right away; benefit other people
withholding: optional; take effect later; benefit you

deduction vs. withholding

profit sharing

allows you to make percentage of company's profit

pension

check you get every month after you retire

insider trading

what is is called when you buy or sell stocks based on information that is not publicly known?

commission

when you're paid based upon your sales

receipts

in order to ensure individuals from the company don't scam business trips, what do they ask for when you return?

members pay dues

how are labor unions funded?

no one

who does a strike benefit?

seniority

when you've been somewhere for a long time & are high-ranking

40

hours of a standard workweek

amount of people who are fired or quit

turnover

Wal-Mart

company with highest turnover rate

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