Question | Answer |
Pay received for hourly work is | wages
|
Fixed amount of pay for a certain period of time. | salary
| Pay that is a percentage of the total amount sold by a salesperson. | commission
| Pay that is 1.5 times more than the hourly rate. | overtime
| Advancement to a higher position in a company. | promotion
| Increase in a worker's pay. | raise
| Rate of pay for each item produced. | piecework or piece rate
| Vacations, paid holidays, paid sick leave, etc. that an employer offers in addition to salary. | fringe benefits or perqs
| Pay before taxes and deductions. | gross pay
| Pay after taxes and deductions. | net pay
| Raises employees may receive to try to keep up with inflation. | Cost of living-CoLa
| A bonus an employee might receive that is not tied to sales or productivity. | signing bonus
| Pay an employee might receive if a company is profitable. | bonus
| Opportunity for an employee to purchase share of stock of their company. | stock options
| Two of the four areas regulated by the Fair Labor Standards Act. | minimum wage and overtime
| What is the pay for 43.5 hours of work at $8.25/hour (overtime is 1.5). | $373.31
| What is the commission on the following: 6% commission on sales of $34,000? | $2040
| What is the pay for 29.75 hours of work at $7.25/hour? | $215.69
| What three pieces of information should be left on voice mail or text when reporting an absence to the teacher/coordinator. | name, class, reason for absence
| Social Security tax and Federal Withholding tax are voluntary deductions. | False
| The cost of an employee to an employer is based strictly on their hourly wage. | False
| The Fair Labor Standards Act is a major federal law that regulates several areas of work. | True
| In some situations an employer can pay less than minimum wage. | True
| A garnishment is a voluntary deduction. | False
| A person that is paid semi-monthly, twice a month, will receive 26 paychecks. | False
| The portion of health insurance paid by an employee is considered a voluntary deduction. | true
| By law you are guaranteed breaks, holiday pay and paid vacations. | False
| The amount of the paycheck should be the only consideration of a career. | False |