Compensation

Which term refers to the total of all rewards provided to employees in return for their services?

• A) benefits

• B) commissions

• C) bonuses

• D) compensation

2) Which of the following is an example of indirect financial compensation (employee benefits)?

• A) sales commission

• B) psychological welfare

• C) paid vacation

• D) hourly wage

As a pediatric nurse, Cary experiences a significant amount of job satisfaction, which is considered ________.

• A) nonfinancial compensation

• B) indirect compensation

• C) organizational fit

• D) personal equity

Wages, salaries, bonuses, and commissions are referred to as ________.

• A) financial benefits

• B) direct financial compensation

• C) indirect financial compensation

• D) discretionary workplace benefits

If a person is to maintain a previous level of nominal wages, then a pay increase must be roughly equivalent to the ________.

• A) cost of living increase

• B) industry average

• C) national average

• D) market rate

Todd, a financial analyst, was recently hired by Maxwell Enterprises. After one year with the firm, Todd will be eligible to receive a pay increase added to his base pay that is based on his performance level. Which term best describes this type of compensation?

• A) commission

• B) merit pay

• c) spot bonus

• D) wages

All financial rewards that are NOT included in direct financial compensation are known as ________.

• A) bonuses

• B) wages

• C) commissions

• D) employee benefits

Legally required benefits currently include all of the following EXCEPT ________.

• A) Social Security

• B) workers' compensation

• C) unemployment insurance

• D) paid time off for holidays

What are the two components of nonfinancial compensation?

• A) job and salary

• B) job and job environment

• C) salary and job environment

• D) premium pay and job schedule

Thomas is a copy machine technician for State Office Systems. He was involved in a serious car accident while making a service call for his employer, and he cannot return to work for 8 weeks. Which of the following would most likely provide Thomas with income while he is incapacitated?

• A) life insurance

• B) worker's compensation

• C) direct financial compensation

• D) unemployment insurance