Employee Benefits Quiz (Financial Math)

Employee benefits ______.

Increase total employment compensation

Leroy's total job benefits were $50,150 last year. His total job expenses for traveling and for professional development for the year were $3,500. Which of the following represents his total employment compensation?

$46,650

Miguel's employer pays $1,825 in health insurance and $93 in life insurance per year. He also gets $2,860 in paid time off per year. His monthly gross pay is $3,890. What are Miguel's total job benefits per year?

$51,458

Marisol receives total employee benefits that are 14.5% of her gross annual pay. If Marisol has a gross annual pay of $50,000, how much in total employee benefits does she receive?

$7,250

If total employee benefits are calculated as a percentage of their gross pay, which of the following employees receives the largest percentage of their gross pay in employee benefits?

Employee B: gross pay $32,900 , total job benefits $34,000

Nika earns a gross pay of $73,000. Her total employee benefits are 22% of her gross pay and she has no job expenses. If Nika gets an increase in pay of $5,000, what will her total employment compensation be? (Note: Employee benefits are based on Nika's original gross pay.) a. $78,000 b. $79,100 c. $94,060 d. $95,160

Not D

Which of the following is always a true statement? a. total employee benefits - job expenses = total employment compensation b. gross pay + total job benefits = total employment compensation c. gross pay - job expenses = total employment compensation d. total job benefits - job expenses = total employment compensation

Should Be B Dunno why Edgenuity says I got it wrong

Which of these is an example of an employer using benefits to encourage employees to stay with the company?

The employer offers stock options, which require the employee to work for a specific amount of time before they vest.

The gross pay, benefits and job expenses for two different employees are shown below. Employee A: gross pay $57,200, employee benefits $5,300, job expenses $800 Employee B: gross pay $56,900, employee benefits $6,200, job expenses $1,400 Which of the following is a true statement?

The total employment compensations for the two employees are the same.

Which of the following companies offers the greatest total employment compensation? Company A Company B Company C Company D Gross Pay $37,600 $36,800 $38,100 $39,000 Paid insurance $2,800 $2,400 $2,100 $1,800 Paid time off $3,100 $3,600 $2,900 $2,500 Job expenses $1,200 $600 $300 $800 a. Company A b. Company B c. Company C d. Company D Please select the best answer from the choices provided

C