Chapter 13 Benefits and Services
1) The indirect financial and nonfinancial payments employees receive for continuing their employment with a company are called ________.
A) reimbursement
B) compensation
C) salary
D) benefits
E) remuneration
Answer: D
Explanation: Benefits—indirect financial and nonfinancial payments employees receive for continuing their employment with the company—are an important part of just about everyone 's compensation. They include things like health and life insurance, pensions, time off with pay, and child-care assistance.
Diff: 1 Page Ref: 446
Chapter: 13
Objective: 1
Skill: Concept
2) Nonfinancial payments like health and life insurance, pensions, time off with pay, and child care facilities are examples of ________.
A) variable pay
B) competency-based incentives
C) benefits
D) salary
E) bonuses
Answer: C
Explanation: Benefits are indirect financial and nonfinancial payments employees receive for continuing their employment with the company. They include things like health and life insurance, pensions, time off with pay, and child-care assistance.
Diff: 1 Page Ref: 446
Chapter: 13
Objective: 1
Skill: Concept
3) Which of the following benefits is required by federal or state law?
A) disability insurance
B) workers ' compensation
C) personal leave
D) health insurance
E) pensions
Answer: B
Explanation: Federal law requires that employers provide workers ' compensation , but disability insurance, personal leave, health insurance, and pensions are optional for employers.
Diff: 2 Page Ref: 467
Chapter: 13
Objective: 1
Skill: Concept
4) All of the following benefits are required by federal or state law EXCEPT ________.
A) social security
B) workers ' compensation
C) unemployment insurance
D) disability insurance
E) maternity leave
Answer: D
Explanation: Social Security, workers ' compensation, and unemployment insurance are required by