Variable pay is: a payment made to a supplier in multiple installments. compensa
ID: 336144 • Letter: V
Question
Variable pay is:
a payment made to a supplier in multiple installments.
compensation awarded on the basis of individual results or performance.
a payment made to employees based on willingness to work overtime.
compensation that varies based on the number of hours an employee works.
compensation based on the reduction of the company's variable costs.
2 points
QUESTION 8
Under the ACA, an “affordable plan” means one which
costs less than on the state's exchange
will not exceed 9.5% of an employee's take-home pay
costs less than 15% of the national average household income
will not exceed 9.5% of employee's household income
2 points
QUESTION 9
Workers' compensation is mandatory
only in California and Massachusetts
in 48 of 50 states
in all 50 states and US territories
only in the right-to-work states
2 points
QUESTION 10
Meghan's organization offers several sets of benefits. One set would appeal to young single employees because it provides more paid time off for personal activities and no reimbursements for child care expenses. Another set would likely appeal parents with young children because it does provide child care reimbursements and other benefits important to parents such as life insurance. Meghan's organization is offering a _______ flexible benefits plan.
core-plus
modular
defined benefit
full-choice
2 points
QUESTION 11
What is the earliest age at which an eligible worker can retire and still receive his/her Social Security retirement benefits?
67
62
65
60
55
2 points
QUESTION 12
Abigail runs a small business of 55 employees. She is working hard to find a way to provide health benefits to all her employees by 2016 to be in compliance with __________.
the Family Medical Leave Act
Social Security
the Affordable Care Act
Medicare
2 points
QUESTION 13
Laura's organization provides group health insurance that covers a set percentage of fees for medical services such as doctors or in-patient care. It allows her to go to any doctor or provider. Her group health insurance is a ________.
health savings account service
fee-for-service plan
health maintenance organization
preferred provider organization
a payment made to a supplier in multiple installments.
compensation awarded on the basis of individual results or performance.
a payment made to employees based on willingness to work overtime.
compensation that varies based on the number of hours an employee works.
compensation based on the reduction of the company's variable costs.
Explanation / Answer
1) Variable pay is:
Answer = Compensation awarded on the basis of individual results or performance.
2) Under the ACA, an “affordable plan” means one which
Answer = Will not exceed 9.5% of employee's household income
3) Workers' compensation is mandatory
Answer = In 48 of 50 states
4) Meghan's organization offers several sets of benefits. One set would appeal to young single employees because it provides more paid time off for personal activities and no reimbursements for child care expenses. Another set would likely appeal parents with young children because it does provide child care reimbursements and other benefits important to parents such as life insurance. Meghan's organization is offering a _______ flexible benefits plan.
Answer = Modular
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