Reference no: EM132698013

Which of the following describes a profit-sharing plan?

• Employees receive a percentage of dividends paid to stockholders based on the organization's performance.
• Employees have the option to give up part of their base wage in return for additional indirect compensation.
• Employees have the option to invest part of the base wage in a health savings fund or school savings fund.
• Employees receive a percentage of their base wage as a bonus if the organization reaches a set goal.

Which of the following is an example of variable compensation? (Select all that apply.)

• Maddy gets stock options in the company based on her yearly performance.
• Mary gets paid $55,000 each year, with a possibility of a raise after each three-year period.
• John gets paid $12 an hour.
• Martha gets a bonus of $10,000 a year if she meets her sales quota.
• Jonathan gets paid on commission, meaning that he directly receives a small portion of his sales.

Which of the following is true of retirement plans?

• The two major types of retirement plans are defined benefits plans and income benefits plans.
• Social security is typically the only type of retirement benefit that most people need.
• They are becoming much less important in the 21st century.
• Good retirement plans allow organizations to better attract and retain exceptional employees.

Which of the following flexible compensation packages sometimes lets employees elect to receive cash amounts rather than benefits?

• Modular plan
• Core-plus-option plan
• Flexible spending account
• Flexible insurance

How does fraud usually occur, with regard to unemployment insurance?

• The employee collects money from unemployment for a job they are still working.
• Fraud usually doesn't take place with unemployment insurance.
• The employee collects money from unemployment even though he or she was fired for good reason.
• The employee collects money from unemployment while he or she is working another job.

Who usually pays the insurance premiums for workers' compensation in most states?

• The state
• The employee
• The federal government
• The employer

The 403(b) plan is a tax-advantaged retirement savings plan available to whom?

• Public employers
• Private organizations
• Public education employers
• Large organizations

Which of the following is a responsibility of employees under OSHA?

• Report unsafe working conditions to supervisors
• Comply with all occupational safety and health standards
• Furnish a workplace free from recognized hazards
• Respond to and pay fines for OSHA violations