Question 1

Which of the following terms refers to wages that exceed the standard or regular pay rate and are given to employees for work performed under undesirable circumstances, such as overtime hours, weekend work, holiday work, or dangerous and hazardous circumstances?

Accepted Answer

A)   severance pay
B)   worker's compensation
C)   guaranteed wages
D)   premium payE) B) and C)
F) A) and C)

Question 2

The guaranteed monthly income provided to a retired employee is known as the premium pay.

Accepted Answer

A) True 
 B)False

Question 3

A qualified plan generally refers to a plan that meets standards set by the ________.

Accepted Answer

A)   Office of the Comptroller of the Currency
B)   Bureau of International Labor Affairs
C)   Office of Banking and Securities
D)   Internal Revenue ServiceE) B) and C)
F) C) and D)

Question 4

The graduated plan ________.

Accepted Answer

A)   provides all workers with the same length of vacation
B)   relates the length of vacation to the number of hours or days the employee works during a given time period
C)   provides an increase in the number of weeks of vacation according to length of service
D)   requires employers to contribute to a vacation fund from which employees may draw vacation pay during periods when no work is availableE) B) and D)
F) B) and C)

Question 5

The uniform vacation plan is most often found in the transportation industry.

Accepted Answer

A) True 
 B)False

Exam 8: Employee Benefits

Which of the following terms refers to wages that exceed the standard or regular pay rate and are given to employees for work performed under undesirable circumstances, such as overtime hours, weekend work, holiday work, or dangerous and hazardous circumstances?

Correct Answer
verified

The graduated plan ________.

Correct Answer
verified

The guaranteed monthly income provided to a retired employee is known as the premium pay.

Correct Answer
verified

A qualified plan generally refers to a plan that meets standards set by the ________.

Correct Answer
verified

The uniform vacation plan is most often found in the transportation industry.

Correct Answer
verified

Exam 8: Employee Benefits

Which of the following terms refers to wages that exceed the standard or regular pay rate and are given to employees for work performed under undesirable circumstances, such as overtime hours, weekend work, holiday work, or dangerous and hazardous circumstances?

Correct AnswerverifiedShow Answer

The graduated plan ________.

Correct AnswerverifiedShow Answer

The guaranteed monthly income provided to a retired employee is known as the premium pay.

Correct AnswerverifiedShow Answer

A qualified plan generally refers to a plan that meets standards set by the ________.

Correct AnswerverifiedShow Answer

The uniform vacation plan is most often found in the transportation industry.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified