Chapter 6 Quiz Review

A  standard workweek is

• 32 hours

• 37 hours

• 40 hours

• 45 hours

A job requiring heavy physical labor is probably a good candidate for a compressed workweek

• True

• False

Rate x Hours worked =

• Net Pay

• Incentive Pay

• Overtime Pay

• Gross Pay

When an employee is entitled to his or her full retirement account, the employee is said to be vested in the account.

• True

• False

If you are a salaried worker,

• you will probably be paid twice per year.

• your overtime pay rate is higher than that of an hourly worker.

• your gross pay is the same as your salary.

• no deductions will be taken from your paycheck.

Under flextime, employees do not need to work a set number of hours per day.

• True

• False

Which of the following benefits are employers required by law to provide?

• Worker's Compensation

• Paid Vacations

• Education

• Child Care

 Self-employed people do not need to pay Social Security or Medicare taxes

• True

• False

Employers must contribute matching amounts into each employee’s Medicare and Social Security accounts

• True

• False

Self- Employed people must make estimated tax payments

• Weekly

• Monthly

• Quarterly

• Yearly