Compensation

Dan is a technician in Company A. He compares his salary with his friend, Sid, who works as a technician in Company B. This is an example of a/an _____ act.

• internal equity

• procedural equity

• external equity

• individual equity

Sara requested more information from her supervisor regarding the processes and procedures involved in allocating her pay. This is an example of a/an_____ act.

• external equity

• internal equity

• individual equity

• procedural equity

being paid for the loss or destruction of property

• compensation

• alienate

• fair market value

• due process

What is the term for the financial reward given to employees for their work performance?

• Salary

• Compensation

• Bonus

• Wage

Which of the following is a form of non-monetary compensation?

• Health insurance

• Overtime pay

• Commission

• Base salary

The concept of 'pay equity' is most closely related to which of the following?

• Fair compensation

• Minimum wage

• Overtime pay

• Performance bonuses

Which act requires employers to pay men and women equally for equal work?

• Equal Pay Act

• Fair Labor Standards Act

• Civil Rights Act

• Family and Medical Leave Act

What is the primary purpose of a compensation package?

• To attract and retain employees

• To reduce company expenses

• To comply with legal standards

• To increase product sales

Which of the following is considered a direct form of compensation?

• Salary

• Health benefits

• Retirement plans

• Paid time off

What is the term for additional pay given to employees for working beyond their normal hours?

• Overtime pay

• Bonus

• Commission

• Base pay