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Applied Finance review 4

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

A market where the price of an item is arranged by the mutual consent of sellers and buyers.

a)

Free Market

b)

Agent Market

c)

Local Market

2.

The integration among people, companies, and governments across geographical boundaries.

a)

free market

b)

globalization

c)

integration

3.

To unite with something else; to form, coordinate, or blend into a functioning or unified whole.

a)

free market

b)

interdependence

c)

integration

4.

The mutual responsibility and dependency on others.

a)

interdependence

b)

integration

c)

globalization

5.

When companies reduce costs by transferring portions of work to outside suppliers rather than completing it internally.

a)

outsourcing

b)

globalization

c)

integration

6.

AD&D stands for

a)

Agents death and dismemberment policy

b)

accidental death and dismemberment policy

c)

accidental doing and documentpolicy

7.

An employer-funded retirement plan with payouts to the retiree based on a formula that includes length of service and salary history, such as a pension.

a)

defined-benefit plan

b)

defined-contribution plan

c)

disability insurance

8.

A retirement plan in which a certain amount or percentage of money is set aside each year by the employee or the company, or both; payouts are dependent on the amount of contributions made

a)

defined-benefit plan

b)

defined-contribution plan

c)

disability insurance

9.

Insurance that pays a monthly benefit to workers who, because of injury or illness unrelated to work, cannot do their normal job or any other job.

a)

accidental death and dismemberment policy (AD&D)

b)

disability insurance

c)

defined-benefit plan

10.

A health care arrangement under which a health care provider charges, and the insurance company pays for, each service separately.

a)

free market

b)

fee-for-service (FFS)flex time

11.

A work schedule that shifts working hours either earlier or later than usual, in order to accommodate an employee’s needs outside work (such as child care) or to avoid traveling at peak commute times.

a)

fee for time

b)

fee-for-service (FFS)

c)

flex time

12.

Insurance plans that include coverage for medical care, dental care, and vision care.

a)

health insurance

b)

market insurance

c)

disability insurance

13.

A health insurance plan that requires its members to receive services only from its network of providers. Benefits are typically provided at 100%, less a small ($10–$20) copayment.

a)

health monitoring insurance

b)

disability insurance

c)

health maintenance organization (HMO)

14.

Pay an employee receives when absent from work during a company-sanctioned day off from work.

a)

corporate pay

b)

holiday pay

c)

benefit pay

15.

Pay an employee receives (usually full regular salary) when absent from work because of a summons to appear for jury duty.

a)

jury duty pay

b)

holiday pay

c)

corporate pay

16.

Wages paid to an employee who is absent from work for illness.

a)

military pay

b)

holiday pay

c)

sick leave pay

17.

Company payments for tuition and/or fees for an employee to take coursework related to the job

a)

telecommuting

b)

work-related education assistance

c)

zoom education

18.

A right granted to employees to purchase company stock at a set price, within a certain time period

a)

stock option

b)

corporate pay

c)

401-k

19.

A plan that sets aside funds in an investment account for the employee’s retirement years.

a)

402-plan

b)

retirement plan

c)

budget plan

20.

Benefits paid for by employee deductions but not counted in the total income taxed, such as 401(k) contributions and health care premiums.

a)

middle tax benefit

b)

pretax benefits

c)

after tax benefit