WorldatWork C1 : Regulatory Environments for Compensation Programs

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WorldatWork Regulatory Environments for Compensation Programs Sample Questions:

1. Which of the following best describes present value?

A) The desired value in the future and what needs to be invested today to realize that amount
B) The current value of holdings
C) The difference between the desired value in the future and the current value as a percentage of the desired value
D) The current value of holdings and how much it will grow over time at a given rate of return

2. Which of the following agencies enforces the FLSA?

A) Department of Labor
B) Office of Federal Contract Compliance Programs
C) Equal Employment Opportunity Commission
D) National Labor Relations Board

3. Which one of the following should be included in a compensation guide for managers?

A) Information on common management processes
B) The consequences of various disciplinary measures
C) Individual salary rates of employees in their department

4. What are usual, customary and reasonable charges (UCR)?

A) The charges that are allowable for any given medical procedure with no pre-treatment authorization
B) The charges that are typically paid up front by a plan participant for services rendered.
C) The charges that an insurance carrier determines are normal for a particular medical procedure within a specific geographical area
D) The charges that are published annually in the Global Insurers' Medical Cost Comparison Guide

5. Which of the following is a type of variable pay?

A) Commissions
B) Piece rate
C) Hourly rate
D) Salary

Solutions: