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5 Written questions

5 Matching questions

  1. Taxable wages
  2. Parachutes
  3. In loco parentis
  4. Prudent person rule
  5. Frequency distribution
  1. a All remuneration for services (including noncash benefits) that is taxable when paid
  2. b 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 golden parachutes
  3. c Listing of grouped data, from lowest to highest.
  4. d States that an ERISA plan fiduciary has legal and financial obligations not to take more risks when investing employee benefit program funds than a reasonably knowledgeable, prudent investor would under similar circumstances
  5. e "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 financially support a person who stood "in loco parentis" for them

5 Multiple choice questions

  1. Process by which a retirement benefit becomes nonforfeitable
  2. Job comparison method that ranks each job by each selected compensable factor and then identifies dollar values to develop a pay rate
  3. Form of defined benefit plan that defines the promised benefit in terms of a hypothetical account balance and features benefit portability
  4. Written benefit plans maintained by the employer that allow employees to use pretax dollars to pay for certain qualified benefits
  5. Employer-funded plan that reimburses employees only for eligible and substantiated health-care expenses

5 True/False questions

  1. Maturity curvesCorrelate pay with time spent in a professional field such as teaching or research

          

  2. Excess group-term life insuranceForm of insurance carried by employers for their employees that provides a lump-sum payment to the employees' beneficiaries

          

  3. Cost-of-living adjustment (COLA)Tax-sheltered savings account similar to an IRA but created primarily to pay for medical expenses

          

  4. Highly compensated employee (HCE)Determined by an array of issues such as business ownership and/or salary

          

  5. Davis-Bacon ActAct that established prevailing wage and benefit requirements for contractors on federally funded construction projects

          

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