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2024 APHR COMPENSATION AND BENEFITS (14%) TEST STUDY GUIDE EXAM WITH CORRECT ANSWERS
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2024 APHR COMPENSATION AND BENEFITS (14%) TEST STUDY GUIDE EXAM WITH CORRECT ANSWERS
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2024 APHR COMPENSATION ANDBENEFITS (14%) TEST STUDY
GUIDE EXAM WITH CORRECT
ANSWERS
Total Rewards / Returns - CORRECT ANSWERS-All returns to an employee,
including financial compensation, benefits, oportunities for social interaccion,
security, status and recognition, work variety, appropriate workload,
importance of work, authority/control/autonomy, advancement opportunities,
feedback, hazard-free working conditions, and opportunities for personal and
professional development. An effective compensation system will utilize
many of these returns
Employee benefits - CORRECT ANSWERS-Compensation in forms other than
cash. Benefits contribute to attracting, retaining, and motivating employees.
Pay for Organizational performance - CORRECT ANSWERS-Incentive pay tied
to organizational performance
Types of pay for Organizational Performance - CORRECT ANSWERS--Profit
sharing
- Stock Options
- Employee Stock Ownership Plans ( ESOPs)
Profit Sharing - CORRECT ANSWERS-Incentive pay in which payments are a
percentage of the organization's profits and do not become a part of the
employees'
Base salary
Stock Ownership - CORRECT ANSWERS-A stock ownership plan makes
employees part owners of the organization.
Stock Options - CORRECT ANSWERS-Rights to by a certain number of shares
of stock at a specified price purchasing the stock is called "exercising the
option"
Employee Stock Ownership Plan ( ESOP) - CORRECT ANSWERS-An
arrangement in which the organization distributes shares of stock to all its
employees by placing it in a trust managed on the employees behalf
, Balanced Scorecard - CORRECT ANSWERS-A combination of performance
measures directed toward the company's long-and-short term goals and
used as the basis for awarding incentive pay
Processes that make incentives work - CORRECT ANSWERS--participation in
decisions- employees have hands-on knowledge about the kinds of behaviors
that can help the organization perform well
-communication-
Payroll - CORRECT ANSWERS-Payroll is the process by which employers pay
an employee for the work they have done. A
Employee benefits required by law - CORRECT ANSWERS-Social security,
Unemployment insurance, Worker's Compensation Insurance, Family and
Medical Leave, Health Care
Social security - CORRECT ANSWERS-Is the Federal Old age, Survivors,
Disability, and Health Insurance (OASDHI) program, which combines old age
( retirement) insurance, survivors insurance, disability insurance, hospital
insurance ( Medicare Part A) and supplementary medical insurance
( Medicare Part B) for the elderly
Unemployment Insurance - CORRECT ANSWERS-A federal mandated program
to minimize the hardships of unemployment through payments to
unemployed workers, help in finding new jobs, and incentives to stabilize
employment
Experience Rating - CORRECT ANSWERS-The number of employees a
company has laid off in the past and the cost of providing them with
unemployment benefits
The size of the unemployment insurance tax imposed on each employer
depends on the employer's experience rating
Conditions workers must meet to receive unemployment insurance benefits -
CORRECT ANSWERS-1- demonstrating they have been employed ( often 52
weeks or four quarters of work at a minimum level of pay )
2- They are available for work
3- They are actively seeking work ( includes registering at the local
unemployment office)
4- They were not discharge for cause ( such as willful misconduct ), did not
quit voluntarily, and are not out of work because of a labor dispute ( such as
a union member on strike)
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