Occupations covered in the Fair Labor Standards Act

Occupations covered in the Fair Labor Standards Act

Which of the following is part of cash compensations offered to employees?

 

·         Merit increases

 

Which of the following is part of benefits offered to employees?

 

·         Paid vacation

 

The _____ theory suggests that people evaluate the fairness of their situations by comparing them with those of other people.

 

·         equity

 

The amount an organization must pay to compete against other companies that hire similar employees is referred to as _____.

 

·         labor market competition

 

Product market comparisons that focus on labor costs are likely to deserve greater weight when:

 

·         the supply of labor is inelastic

 

The use of _____ permits a company to recognize differences in employee performance, seniority, training, and so forth in setting individual pay.

 

·         rate ranges

 

A pay policy line:

 

·         can be generated using statistical procedures, such as a regression analysis.

 

The major disadvantage of using _____ is that some jobs will be underpaid and other jobs will be overpaid.

 

·         pay grades

 

Actual pay exceeds that of the pay policy when the compa-ratio is _____.

 

·         greater than 1.00

 

Which of the following is an advantage of a skill-based pay?

 

·         It provides the opportunity for leaner staffing levels and supports decision making by knowledgeable employees.

 

Which of the following is a disadvantage of skill-based pay?

 

·         Possibility of generating a large bureaucracy

 

Which act states that employers may face claims in situations where a discriminatory decision was made many years earlier but the effect (lower pay) continues into the more current period?

 

·         The Lilly Ledbetter Fair Pay Act

 

Which group of employees is exempt from the Fair Labor Standards Act?

 

·         Administrative employees

 

Which of the following is true of occupations covered in the Fair Labor Standards Act?

 

·         Employees in nonexempt occupations are eligible for overtime pay.

 

Two pieces of legislation require federal contractors to pay employees no less than the prevailing wages in the area. Which of the following covers all government contractors receiving $10,000 or more in federal funds?

 

·         The 1936 Walsh-Healy Public Contracts Act