HR Management - Week 6
As per the Fair Labor Standards Act, the current minimum wage stands at
7.25 / hr
Which of the following is true about Social Security retirement benefits?
An earnings test exists for those beneficiaries aged 50 and under.
Which type of pay is similar to pay structures based on individual characteristics such as skill or knowledge but usually refers to a plan that covers exempt employees?
Competency-based pay
Which of the following is true about private group insurance?
Concern for employee security explains the prevalence of employer-sponsored insurance plans.
Shelby has been laid off due to downsizing. She is worried about her health coverage as she has just found out she is pregnant. The HR benefits specialist tells her that she can continue to pay for health coverage for up to 36 months due to which law?
Consolidated Omnibus Budget Reconciliation Act (COBRA)
Which department enforces standards and guidelines put in place to minimize pay disparities found through regression analyses?
Dept of Labor
Which of the following increased the fiduciary responsibilities of pension plan trustees and established vesting rights and portability provisions?
Employee Retirement Income Security Act
Employers pay for workers' compensation costs. There is a range of cost based on which of the following?
Employer's experience rating
Which of the following is true about the Old Age, Survivors, Disability, and Health Insurance (OASDHI) program?
High earners help subsidize benefit payments to low earners.
Which of the following is true about Social Security as a benefits program?
It covers mostly railroad and federal, state, and local government employees
Which of the following is true of skill-based pay?
It helps in making alternative arrangements for employee turnover.
Which of the following is a disadvantage of skill-based pay?
It may give rise to large new labor costs, but with little payoff.
Which of the following is a disadvantage of the pay grade approach?
It might give rise to some jobs being underpaid and some being overpaid.
Which of the following is the primary focus of Title VII of the Civil Rights Act?
It supports equal pay for jobs of equal value.
According to the study by Peter Cappelli and Peter Sherer, which of the following is true of two-tier wage plans?
Lower-tier employees are more satisfied despite being paid less money for the same work.
The ________ guarantees payment to employees of a basic retirement benefit in the event that financial difficulties force a company to terminate or reduce employee pension benefits.
Pension Benefit Guaranty Corporation
Which of the following individuals is eligible for unemployment benefits?
Reena lost her job due to outsourcing.
Which of the following is a major category of workers' compensation?
Rehabilitative services
Which of the following pay structures would a company adopt if it wanted a pay structure that rewards employees based on their knowledge and competency?
Skill-based pay approach
Which of the following is true of the Consolidated Omnibus Budget Reconciliation Act (COBRA)?
The beneficiaries of employees who still have their health insurance have access to the same services.
Which of the following is true of the cost to the employer for workers' compensation?
The compensation mostly covers minor injuries such as sprains and strains, rather than dramatic injuries.
Which of the following best describes a broad band in job-based pay structures?
The wider grouping of jobs accomplished through delayering
Which of the following is an example of an equal employment opportunity regulation that prohibits sex- and race-based differences in employment outcomes such as pay, unless justified by business necessity?
Title VII of the Civil Rights Act
Which of the following is a major objective of the unemployment insurance program?
To offset lost income during voluntary unemployment
During the recent financial crisis, the U.S. government, as part of the ________, decided it was appropriate to further regulate executive pay in firms receiving government "bailout" money.
Troubled Asset Relief Program (TARP)
The ________ is an index of the correspondence between actual and intended pay.
compa ratio
Noreen, Revathy, and Rosa are going to visit their manager and advocate for ________, eliminating undervaluation of women's jobs.
comparable worth
LouAnn has retired and is receiving Social Security. Each year she can expect an increase in
cost of living
Which of the following hypotheses argues that women were historically restricted to entering a small number of occupations and, as a result, the supply of workers far exceeded demand, resulting in lower pay for such occupations?
crowding
Architects R Us has begun the process of ________ to increase flexibility in job and merit assignment.
delayering
Athen Tech., a software company, changed its pay structure from 3,000 job titles and 12 pay grades to a simpler structure with 1,000 jobs and 5 pay grades. The managers were then asked to choose pay levels that were based on the market. This is an example of
delayering
According to the Fair Labor Standards Act,
employees should be paid at the rate of one and a half times their hourly rate for overtime worked beyond 40 hours in a week.
Job-based pay structure
encourages a lack of initiative on the part of employees.
Workers are eligible for unemployment benefits if they
have worked for at least one year.
Alex knows that he no longer needs to sue his employer for workers' compensation because the law now covers job-related
injuries and death
Which of the following is typically used to measure pay equity?
job eval
Group insurance rates are typically lower than individual rates because
risks cannot be pooled together in group insurance.
Which of the following is true of a job-based pay structure?
top down
Which of the following best describes gross domestic product?
total output of the economy