PHRi Certification: Employee Compensation & Benefits Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which classification of employee is typically guaranteed a minimum number of hours to work per week?

Question 2 2. Tina's employer gives her a contract that allows her to purchase company stock in the future at a set price. Tina has chosen to purchase the stock in two-to- three days and based on the contract she must hold it for at least one month before she can exercise them. This doesn't bother her as she didn't plan to sell them for at least six months when she wants to buy a new car. What is the vesting period in this case?

Question 3 3. What type of compensation is employer-sponsored health care?

Question 4 4. What is a benefit of the probationary period from the employer's viewpoint?

Question 5 5. Tiffany's employer set up a retirement account for her where she can contribute part of her salary. The plan also provides that her employer will make yearly contributions to her retirement account as well. Which of the following best describes the plan?

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Question 6 6. Stock options are considered _____

Question 7 7. What do stock options, profit sharing, and gain sharing have in common?

Question 8 8. Edward is a computer programmer who just got a raise after successfully earning a certification in a new programing language the company uses. What type of incentive pay did he earn?

Question 9 9. Which of the following laws regulate defined benefit and defined contribution plans?

Question 10 10. Mary receives a bonus at the end of the year based on a percentage of money she and her fellow employees saved the company by improving efficiency and reducing waste. Why is this an example of gain sharing?

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Question 11 11. Which is an example of a payroll tax?

Question 12 12. Non-exempt employees who receive wages are paid _____.

Question 13 13. Direct compensation is in the form of:

Question 14 14. Which of these is correct about a defined contribution retirement plan?

Question 15 15. Tanya is negotiating with her employer about a new contract. They have agreed that she will be paid by commission. Identify which of the following BEST reflects such a deal:

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Question 16 16. What is a benefit of the probationary period of employment from the employee's perspective?

Question 17 17. Alan gets a raise that keeps his salary in line with the rate of inflation. What type of incentive pay is he receiving?

Question 18 18. What are payroll taxes?

Question 19 19. Which of the following statements is TRUE regarding part-time employees?

Question 20 20. John is working for an IT company based upon a contract and the company doesn't withhold any payroll taxes when it pays him. What does this mean for John and who is responsible for paying his taxes?

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Question 21 21. How are benefits calculated in Fred's cash balance retirement plan?

Question 22 22. Tabatha is an accountant. She's paid a base salary in addition to the possibility of more compensation if she exceeds the firm's minimum billable hours she's expected to generate. What is this type of compensation system called?

Question 23 23. Benefits such as health insurance are _____.

Question 24 24. Which of the following is FALSE about gain sharing?

Question 25 25. David sells shoes in a retail company. His boss agreed to pay him a commission for each pair of shoes he sells. Which of the following statements is an example of what his boss promised?

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Question 26 26. Which of these is FALSE about payroll taxes?

Question 27 27. Which classification of employee is hired on an as-needed basis and works various hours each week?

Question 28 28. Which worker is not classified as a company employee?

Question 29 29. Salaries are paid to employees who _____.

Question 30 30. Which of these is NOT true about federal income taxes?

PHRi Certification: Employee Compensation & Benefits Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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