FL CCP-101 Week 05 Review Quiz v.24

Which of the following is NOT a protected characteristic under anti-discrimination laws in employment?

• Education level

• Race

• Disability

• Pregnancy

What is the primary purpose of the Fair Labor Standards Act (FLSA)?

• Ensuring employee safety in the workplace

• Preventing discrimination based on age

• Establishing minimum wage and overtime pay standards

• Regulating employer-sponsored retirement plans

How often must covered nonexempt employees receive overtime pay under the FLSA?

• Weekly

• Bi-weekly

• Monthly

• Annually

Which of the following is NOT a right afforded to employees under OSHA?

• Requesting an OSHA inspection

• Refusing to work in hazardous conditions

• Filing a complaint with OSHA anonymously

• Requesting immediate termination of employment

What does a flexible spending account (FSA) allow employees to do?

• Invest in the stock market

• Save for retirement

• Pay for health care and dependent care expenses with pre-tax dollars

• Receive employer-sponsored life insurance

What is the primary advantage of employer-sponsored retirement plans?

• Higher interest rates

• Tax benefits for contributions

• Unlimited borrowing options

• Immediate payout upon employment termination

Under the FLSA, which of the following is NOT considered as part of “hours worked”?

• Time spent on mandatory training sessions

• Time spent commuting to and from work

• Time spent on call and available for work

• Time spent on breaks and lunch periods

What is the purpose of creating a personal budget?

• To increase debt

• To keep track of money received and spent 

• To ignore income and expenses

• To overspend on variable expenses

Which of the following is an example of a fixed expense?

• Rent

• Electricity bill

• Entertainment

• Credit card bills

What does the 50/30/20 rule in budgeting suggest?

• Allocate 50% of income to savings, 30% to needs, and 20% to wants

• Spend 50% of income on wants, 30% on savings, and 20% on needs

• Allocate 50% of income to needs, 30% to wants, and 20% to savings