HRCI APHR PREP - COMPENSATION
AND BENEFITS QUESTIONS WITH
100% CORRECT ANSWERS
401(k) - correct answer- plans are typically
offered by private employers
403b - correct answer- plans are tax-
advantaged retirement savings plans specifically designed
for employees of public schools, certain non-profit
organizations, and certain ministers
457(b)plans - correct answer- State and local
governments as well as some tax exempt organizations
typically offer
Broadband salary structures may include - correct
answer- Bands or ranges of pay
Skills-based pay increases
Performance-based pay increases
Market-based pay adjustments
, Incentive pay
Broadband structures: - correct answer- These
structures merge several traditional pay grades into wider
pay bands, offering more flexibility in setting individual
pay levels and accommodating a more diverse range of
job roles.
Catch up contribution - correct answer- allow
employees aged 50 or older to contribute additional
amounts to their retirement accounts, above the standard
contribution limits
defined benefit plans - correct answer- specify
the amount of benefits an employee will receive in
retirement based on a predetermined formula
Defined contribution plans - correct answer-
specify the amount of contributions to be made to an
employee's retirement account
AND BENEFITS QUESTIONS WITH
100% CORRECT ANSWERS
401(k) - correct answer- plans are typically
offered by private employers
403b - correct answer- plans are tax-
advantaged retirement savings plans specifically designed
for employees of public schools, certain non-profit
organizations, and certain ministers
457(b)plans - correct answer- State and local
governments as well as some tax exempt organizations
typically offer
Broadband salary structures may include - correct
answer- Bands or ranges of pay
Skills-based pay increases
Performance-based pay increases
Market-based pay adjustments
, Incentive pay
Broadband structures: - correct answer- These
structures merge several traditional pay grades into wider
pay bands, offering more flexibility in setting individual
pay levels and accommodating a more diverse range of
job roles.
Catch up contribution - correct answer- allow
employees aged 50 or older to contribute additional
amounts to their retirement accounts, above the standard
contribution limits
defined benefit plans - correct answer- specify
the amount of benefits an employee will receive in
retirement based on a predetermined formula
Defined contribution plans - correct answer-
specify the amount of contributions to be made to an
employee's retirement account
