#1
Which of the following is a component of employment compensation?
Health insurance benefits
ExplanationPart of remuneration including medical coverage.
#2
What is the purpose of a labor union?
To negotiate better working conditions and wages for employees
ExplanationExists to advocate for improved work terms.
#3
What is the purpose of a 401(k) retirement plan?
To allow employees to contribute a portion of their salary to a retirement account
ExplanationFacilitates personal retirement savings.
#4
What is the purpose of an Employee Assistance Program (EAP)?
To offer counseling and support services to employees
ExplanationProvides aid for personal issues.
#5
Which law mandates the federal minimum wage in the United States?
Fair Labor Standards Act (FLSA)
ExplanationLegislation setting baseline wage requirements.
#6
What is the purpose of workers' compensation?
To provide financial assistance to employees who are injured on the job
ExplanationOffers aid for work-related injuries.
#7
What is the purpose of a collective bargaining agreement?
To outline the terms and conditions of employment
ExplanationEstablishes work agreements.
#8
Which factor does NOT typically influence employee compensation?
Employee's astrological sign
ExplanationNot relevant to employment terms.
#9
Which of the following is NOT a form of direct compensation?
Employee training programs
ExplanationTraining unrelated to salary payment.
#10
Which of the following is NOT a characteristic of a defined contribution plan?
Guaranteed retirement benefits
ExplanationDoesn't ensure fixed post-retirement income.
#11
Which of the following is NOT typically included in a total compensation package?
Employee discounts at local restaurants
ExplanationPerks not directly tied to compensation.
#12
Which of the following is NOT a factor considered in determining overtime pay eligibility in the United States?
Length of employment
ExplanationIrrelevant to overtime qualification.