
PF Ch 2 Pay, Benefits
Flashcard
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
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47 questions
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1.
FLASHCARD QUESTION
Front
Is the requirement to pay overtime at the rate of 1.5 times the regular rate applicable to all employers?
Back
False
2.
FLASHCARD QUESTION
Front
Some deductions are required by law, but others are optional.
Back
True
3.
FLASHCARD QUESTION
Front
John is a salaried employee. He believes that allowances are additions to the amount of income tax that must be withheld from his paycheck. Is he correct?
Back
False
4.
FLASHCARD QUESTION
Front
Employers must contribute matching amounts into each employee’s Medicare and Social Security accounts.
Back
True
5.
FLASHCARD QUESTION
Front
An employee required to work on a paid holiday is usually paid 1.5 times his or her regular hourly rate of pay.
Back
False
6.
FLASHCARD QUESTION
Front
It is customary for employees to receive three to ten days a year as “sick days” without deductions from pay.
Back
True
7.
FLASHCARD QUESTION
Front
When an employee is entitled to his or her full retirement account, the employee is said to be vested in the account.
Back
True
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