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5 Written Questions

5 Matching Questions

  1. Pay ranges
  2. Sarbanes-Oxley Act (SOX)
  3. Parachutes
  4. Indirect compensation
  5. Taxable wages
  1. a All remuneration for services (including noncash benefits) that is taxable when paid
  2. b Form of compensation commonly referred to as benefits
  3. c Set the upper and lower bounds of possible compensation for individuals whose jobs fall in a pay grade
  4. d Act that requires administrators of defined contribution plans to provide notice of covered blackout periods; provides whistleblower protection for employees
  5. e 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

5 Multiple Choice Questions

  1. Describe situations where employees' pay is above the range maximum
  2. Imposed a mandatory 20% federal income tax withholding requirement on most qualified retirement plan proceeds that a recipient does not roll over into another qualified retirement plan or individual retirement account
  3. One-time payment made to an employee; also called a lump-sum increase (LSI)
  4. Jobs used as reference points when setting up a job classification system and when designing or modifying a pay structure
  5. Form of direct compensation where employers pay for performance beyond normal expectations to motivate employees to perform at higher levels

5 True/False Questions

  1. VestingProcess by which a retirement benefit becomes nonforfeitable


  2. SalaryAmount advanced on future commissions


  3. Experience ratingRating system that bases insurance rates on claims history


  4. Base payTypically paid to nonexempt workers for the time they spend traveling to or between work assignments


  5. Shift payRefers to supplemental pay paid to employees who work less-desirable hours, such as second or third shifts


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