MGT 3320 HUMAN RESOURCES
EXAM 4 QUESTIONS AND ANSWERS
Compensation - Correct Answers -Includes all components of the employee paycheck.
It is simple to understand
"The Hidden Paycheck" - Correct Answers -Employee Benefits are additional
incentives/payments for employees, but not inclusive in employee payroll.
Growth of benefits - Correct Answers -% of total compensation in companies increases
from 3% to 30% in an 80 year span
The Great Depression - Correct Answers -The New Deal was passed to insure citizens
had their needs met, primarily the social security act.
Social Insurance - Correct Answers -Inclusive of Social Security, Unemployment
insurance and worker's comp.
Social Security - Correct Answers -Origin: 1935
provides: retirement-age insurance, survivor's insurance, disability, hospital insurance,
supplementary medical insurance. Become standards for benefits.
retirement is free from Federal tax.
Full benefits: 65 years. Partial at 62.
Unemployment Insurance - Correct Answers -Origin: 1935 Social Security act
Provides: roughly 50% of earnings for 26 week period. Applicable during involuntary
unemployment, which decentivizes companies from regularly firing employees.
World War II - Correct Answers -Wages and price controls are prevalant, and benefits
initiated were not restricted by such controls.
Tax Treatment - Correct Answers -Tax Treatments remain advantageous for employeee
benefits.
Group Insurance - Correct Answers -As risks are more easily pooled and you retain
high bargaining power, insurance rates plummet if you enter group agreements.
Organizational Labor - Correct Answers -Unions grew from the 1930's on (although
popularity is waning now). They are steadfast in pursuing members' interest in benefits.
EXAM 4 QUESTIONS AND ANSWERS
Compensation - Correct Answers -Includes all components of the employee paycheck.
It is simple to understand
"The Hidden Paycheck" - Correct Answers -Employee Benefits are additional
incentives/payments for employees, but not inclusive in employee payroll.
Growth of benefits - Correct Answers -% of total compensation in companies increases
from 3% to 30% in an 80 year span
The Great Depression - Correct Answers -The New Deal was passed to insure citizens
had their needs met, primarily the social security act.
Social Insurance - Correct Answers -Inclusive of Social Security, Unemployment
insurance and worker's comp.
Social Security - Correct Answers -Origin: 1935
provides: retirement-age insurance, survivor's insurance, disability, hospital insurance,
supplementary medical insurance. Become standards for benefits.
retirement is free from Federal tax.
Full benefits: 65 years. Partial at 62.
Unemployment Insurance - Correct Answers -Origin: 1935 Social Security act
Provides: roughly 50% of earnings for 26 week period. Applicable during involuntary
unemployment, which decentivizes companies from regularly firing employees.
World War II - Correct Answers -Wages and price controls are prevalant, and benefits
initiated were not restricted by such controls.
Tax Treatment - Correct Answers -Tax Treatments remain advantageous for employeee
benefits.
Group Insurance - Correct Answers -As risks are more easily pooled and you retain
high bargaining power, insurance rates plummet if you enter group agreements.
Organizational Labor - Correct Answers -Unions grew from the 1930's on (although
popularity is waning now). They are steadfast in pursuing members' interest in benefits.
