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5 Written questions

5 Matching questions

  1. Profit sharing is an example of what kind of pay?
  2. Comp time
  3. When an employer wants to pay employees for what theyre capable of and not what theyre actually doing, they want to use these pay systems
  4. How much is the overtime rate?
  5. Common overtime issues
  1. a 1.5 times the normal pay rate for all hours over 40/week an employee works
  2. b •Skill-based pay
    • Competency based pay
  3. c Time off with pay given to the employee instead of overtime pay
  4. d •Comp time off
    •Incentives for non exempt employees
    •Training time
    •Travel time
  5. e Variable pay

5 Multiple choice questions

  1. Paying on average with similar companies in the market, balances employer cost pressures and the need to attract employees
  2. Rewards employees for what they are capable of doing, instead of what they actually do on the job
  3. Higher than average pay, attracts better workers
  4. •Calculate hourly rate
    •Multiply hourly rate by 1.5, this is overtime rate
    •Multiple overtime rate by hours of overtime worked
    •Add this overtime pay to normal weekly pay
  5. Yes

5 True/False questions

  1. Exempt vs. non-exempt employees•Comp time off
    •Incentives for non exempt employees
    •Training time
    •Travel time


  2. Retirement contribution is an example of what kind of pay?Benefit


  3. How are compensation practices changing?Companies are moving away from traditional compensation towards total compensation involving pay for performance


  4. Three types of quartile strategies companies use to determine thier pay level•Meet the market
    •Lag the market
    •Lead the market


  5. Contribution to employee health care accounts is an example of what kind of pay?Variable pay


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