Employee Compensation Compoennts

Individual designated to receive a sum of money upon the death of a policy holder correctly defines which of the following?

• Account holder

• Beneficiary

• Liable individual

• Insured

A specified amount of money an insured individual must pay before an insurance company will pay a claim correctly defines which of the following?

• Deductible

• Tangible

• Deposits

• Contributions

Which of the following provides wage replacement and medical benefits to employees who suffer from job-related illnesses or injuries?

• Paid time off

• Retirement plans

• Workers compensation

• Disability insurance

Which of the following are prepaid debit cards which are reloaded with employee wages?

• Direct cards

• Debit cards

• Payroll cards

• Monetary cards

Gross pay refers to which of the following?

• Total income earned before deductions

• Total of deductions

• Total take-home pay after deductions

• Total of all taxes paid

Mandated deductions are NOT influenced by which of the following?

• Marital status

• Income level

• Exemptions

• Age

Which of the following equations calculates net pay?

• Deductions + taxes paid = net pay

• Gross pay - deductions = net pay

• Withholdings + tax deductions = net pay

• Deductions - gross pay = net pay

If Peyton earns $1,700 every other week, but only brings home $1,100 due to deductions, what is Peyton’s gross pay?

• $600

• $1,700

• $1,100

• $2,800

Which of the following verifies the identity and eligibility of an employee to work in the United State?

• Form I-9

• Form W-2

• Form W-4

• Form 1040

Which form is an employee required to turn in when filing taxes?

• Form I-9

• Form W-2

• Form W-4

• Form 1040