Salary Pay Trivia Quiz
With 70 percent of the world's population on gainful employment, salary pay is common. How well do you understand salary pay? There is gross and net salary pay. Find out more about this very important topic in the quiz below.
Questions and Answers
- 1.
To determine your gross pay when you receive an hourly wage you multiply your hourly rate by the number of regular hours worked
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because when you receive an hourly wage, your gross pay is calculated by multiplying your hourly rate by the number of regular hours worked. This is a common method used to calculate the total amount of money earned by an employee based on their hourly wage and the number of hours they have worked.Rate this question:
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- 2.
Annual salary refers to the amount of monthly pay to be received
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because annual salary refers to the total amount of money a person earns in a year, not the monthly pay. It includes not only the monthly salary but also any additional bonuses, commissions, or other forms of income received throughout the year.Rate this question:
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- 3.
Overtime wages are usually calculated a twice the regular hourly rate
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Overtime wages are usually calculated as one and a half times the regular hourly rate, not twice the regular hourly rate. This is a common practice in many industries and is mandated by labor laws in many countries to compensate employees for working additional hours beyond their regular work schedule.Rate this question:
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- 4.
A standard workweek is 40 hours in a 5 day period.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because a standard workweek typically consists of 40 hours of work spread over a 5 day period. This is a common practice in many industries and countries, where employees are expected to work 8 hours a day for 5 days a week. However, it is important to note that workweek regulations may vary in different countries and industries, so this may not be applicable universally.Rate this question:
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- 5.
Social security tax is an example of an optional deduction from your paycheck
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because social security tax is not an optional deduction from your paycheck. It is a mandatory deduction that is required by law. Social security tax is used to fund the Social Security program, which provides benefits to retired and disabled individuals, as well as to the survivors of deceased workers. The amount of social security tax that is deducted from your paycheck is determined by the current tax rate and your income.Rate this question:
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- 6.
The amount left after all deductions have been subtracted from gross pay is known as net pay.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Net pay is the amount of money an employee takes home after all deductions, such as taxes, insurance, and retirement contributions, have been subtracted from their gross pay. It represents the actual amount that an employee receives in their paycheck. Therefore, the statement that the amount left after all deductions have been subtracted from gross pay is known as net pay is true.Rate this question:
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- 7.
How are labor unions funded?
- A.
Government subsidies
- B.
Private donations
- C.
Dues from members
- D.
Profits from services sold
Correct Answer
C. Dues from membersExplanation
Labor unions are funded through dues collected from their members. These dues are typically a percentage of the members' wages or a fixed amount paid regularly. The funds collected from these dues are used to support the activities and operations of the labor union, including negotiating contracts, advocating for workers' rights, providing legal representation, organizing strikes or protests, and offering various services and benefits to members. By relying on dues from members, labor unions ensure their financial independence and ability to represent and support workers effectively.Rate this question:
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- 8.
Bricklayers and carpenters belong to which of the following types of labor unions?
- A.
Craft
- B.
Industrial
- C.
Public employee
- D.
Professional
Correct Answer
A. CraftExplanation
Bricklayers and carpenters belong to craft labor unions. Craft labor unions represent workers who possess specialized skills or trades, such as carpentry or masonry. These unions focus on protecting the interests and rights of their members, including negotiating fair wages, working conditions, and benefits specific to their craft. Craft labor unions often provide training and apprenticeship programs to ensure the quality and expertise of their members in their respective trades.Rate this question:
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- 9.
Training employees to be efficient in more than one skill is called
- A.
Flextime
- B.
Job sharing
- C.
Job rotation
- D.
Permanent part -time
Correct Answer
C. Job rotationExplanation
Job rotation refers to the practice of training employees to be efficient in more than one skill. This involves periodically moving employees between different roles or departments within an organization. By exposing employees to different job functions, job rotation aims to broaden their skill set, enhance their knowledge, and provide them with a well-rounded understanding of the organization's operations. This not only increases employee versatility but also helps in succession planning and reduces the risk of skill gaps within the organization.Rate this question:
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- 10.
The major function of a labor union is to
- A.
Oversee collective bargaining
- B.
Provide support services for members
- C.
Lobby
- D.
Recruit new members
Correct Answer
B. Provide support services for membersExplanation
A labor union's primary role is to provide support services for its members. This includes representing workers in negotiations with employers, advocating for better working conditions, and protecting workers' rights. By offering various support services such as legal assistance, job training, and healthcare benefits, labor unions ensure that their members have access to resources and support to improve their working conditions and overall well-being. While collective bargaining, lobbying, and recruiting new members are also important functions of labor unions, providing support services directly benefits the existing members.Rate this question:
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- 11.
The right of a person hired first to be fired last is called
- A.
Fringe benefits
- B.
Sick leave
- C.
Seniority
- D.
Work incentive
Correct Answer
C. SeniorityExplanation
Seniority refers to the right of a person who was hired first to be the last one to be fired. It is a common practice in many organizations to prioritize employees based on their length of service. This ensures that employees who have been with the company longer are given preference and protection when it comes to layoffs or downsizing. Seniority is often considered as a way to reward loyalty and dedication, and it provides job security to long-term employees.Rate this question:
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- 12.
What was the result of the National Labor Relations Act
- A.
It limited power of unions
- B.
It gave unions the right to organize employees
- C.
It dissolved unions
- D.
It provided pension, retirement, and insurance benefits
Correct Answer
B. It gave unions the right to organize employeesExplanation
The National Labor Relations Act, also known as the Wagner Act, was enacted in 1935 and aimed to protect the rights of employees and promote collective bargaining. It established the National Labor Relations Board (NLRB) and granted unions the right to organize and represent employees in negotiations with employers. Therefore, the correct answer is that the National Labor Relations Act gave unions the right to organize employees.Rate this question:
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- 13.
When employers and union officials cannot agree on the terms of a new labor contract, the result is often
- A.
A violation
- B.
A strike
- C.
Overtime
- D.
Fringe benefits
Correct Answer
B. A strikeExplanation
When employers and union officials cannot agree on the terms of a new labor contract, the result is often a strike. A strike is a collective action taken by workers to protest against unfair labor practices or to demand better wages, working conditions, or benefits. It involves workers refusing to work until their demands are met or a resolution is reached. Strikes can be a powerful tool for employees to exert pressure on employers and negotiate for better terms in their labor contracts.Rate this question:
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- 14.
The American Bar Association is an example of a
- A.
Labor union
- B.
Management group
- C.
Professional organization
- D.
Mediator
Correct Answer
C. Professional organizationExplanation
The American Bar Association is a professional organization because it is an association that represents and supports legal professionals, such as lawyers and judges. It provides resources, education, and networking opportunities for its members, and advocates for the legal profession. A professional organization is typically focused on advancing and promoting a specific profession, and the American Bar Association fulfills this role for the legal profession.Rate this question:
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- 15.
Which of the following workplace trends allows flexibility for employees in work hours?
- A.
Job rotation
- B.
Job sharing
- C.
Permanent part-time
- D.
Flextime
Correct Answer
D. FlextimeExplanation
Flextime is a workplace trend that allows flexibility for employees in work hours. It allows employees to have control over their work schedule, giving them the freedom to choose when they start and finish their workday. This flexibility can help employees balance their personal and professional lives, as they can accommodate personal commitments or preferences. Flextime can also be beneficial for productivity, as employees can work during their most productive hours. Overall, flextime provides employees with the opportunity to have a better work-life balance and can contribute to their overall job satisfaction.Rate this question:
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- 16.
The amount of your take home pay is also known as
- A.
Gross pay
- B.
Deductions
- C.
Net pay
- D.
Optional deductions
Correct Answer
C. Net payExplanation
Net pay refers to the amount of money an individual receives after all deductions have been made from their gross pay. It represents the actual amount of money that an individual takes home and can use for personal expenses. Gross pay, on the other hand, is the total amount of money earned before any deductions are made. Deductions are the various amounts that are subtracted from gross pay, such as taxes, insurance premiums, and retirement contributions. Optional deductions are additional amounts that an individual may choose to have deducted from their pay, such as for a retirement savings plan or charitable donations.Rate this question:
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- 17.
Which of the following is not a required employee deduction?
- A.
Workers compensation
- B.
State taxes
- C.
Federal taxes
- D.
Social security
Correct Answer
A. Workers compensationExplanation
Workers compensation is not a required employee deduction because it is an insurance program that provides benefits to employees who suffer work-related injuries or illnesses. It is not a deduction from the employee's wages or salary, but rather a form of insurance coverage provided by the employer. State taxes, federal taxes, and social security are all required employee deductions that are withheld from the employee's wages or salary to fund government programs and services.Rate this question:
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- 18.
Profit sharing is NOT considered an incentive to improve performance
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Profit sharing is considered an incentive to improve performance. When employees are offered a share in the company's profits, it motivates them to work harder and contribute towards the company's success. By linking their performance to the company's financial performance, profit sharing creates a sense of ownership and encourages employees to go above and beyond their regular duties. Additionally, profit sharing can foster a collaborative and team-oriented work culture as employees understand that their individual efforts directly impact the company's profitability. Therefore, the statement "Profit sharing is NOT considered an incentive to improve performance" is false.Rate this question:
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- 19.
An explanation of pay computations and deductions must be provided with each paycheck
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
An explanation of pay computations and deductions must be provided with each paycheck because it ensures transparency and allows employees to understand how their pay is calculated. This information helps employees verify the accuracy of their payment and identify any errors or discrepancies. It also promotes trust and fairness in the employer-employee relationship by providing clear documentation of the financial transactions. Additionally, the explanation allows employees to understand the various deductions made from their pay, such as taxes, insurance premiums, or retirement contributions, enabling them to plan their finances accordingly.Rate this question:
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- 20.
Telecommuting allows employees to complete job tasks at home
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Telecommuting refers to the practice of working remotely, typically from home, using technology to communicate and complete job tasks. This allows employees to have the flexibility to work outside of the traditional office setting. Therefore, the statement "Telecommuting allows employees to complete job tasks at home" is true because it accurately describes the concept of telecommuting.Rate this question:
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- 21.
Cafeteria style benefits allow workers to base their job benefits on personal needs
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Cafeteria style benefits refer to a flexible benefits plan where employees can choose from a menu of options to customize their benefits package based on their individual needs. This allows workers to select benefits that are most relevant and valuable to them, such as health insurance, retirement plans, or additional vacation days. By offering this flexibility, employers can cater to the diverse needs and preferences of their workforce, ultimately enhancing job satisfaction and employee retention. Therefore, the statement that cafeteria style benefits allow workers to base their job benefits on personal needs is true.Rate this question:
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- 22.
Teachers belong to craft unions
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because teachers typically belong to professional organizations or associations, such as teachers' unions, rather than craft unions. Craft unions are typically associated with skilled trades, such as carpenters or plumbers, where members share a common craft or skill. Teachers, on the other hand, are part of a profession that requires specialized education and training, and they are more likely to join professional organizations that advocate for their rights and interests in the field of education.Rate this question:
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- 23.
Flextime is another word for permanent part-time employment
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Flextime is not another word for permanent part-time employment. Flextime refers to a work arrangement where employees have the flexibility to choose their own working hours, within certain limits set by the employer. It allows employees to have control over their work schedule, such as starting and ending times, as long as they complete the required number of hours. On the other hand, permanent part-time employment refers to a work arrangement where employees work fewer hours than full-time employees on a regular basis, but still have a fixed schedule.Rate this question:
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- 24.
Job rotation maximizes opportunities for employee skill development.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Job rotation involves moving employees through different positions within an organization. This allows employees to gain exposure to various tasks, responsibilities, and departments, which in turn enhances their skill development. By experiencing different roles, employees can acquire a broader range of skills and knowledge, making them more versatile and adaptable. Job rotation also helps in preventing monotony and boredom, increasing job satisfaction and engagement. Therefore, it can be concluded that job rotation indeed maximizes opportunities for employee skill development.Rate this question:
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- 25.
Although some workers do not belong to unions, it is generally true that they benefit because of the existence of unions
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Workers who do not belong to unions still benefit from their existence because unions often negotiate higher wages, better working conditions, and improved benefits for all workers in a particular industry or company. These improvements are not limited to union members only but also extend to non-union workers. Additionally, unions advocate for workers' rights and provide a collective voice to address grievances and concerns. Therefore, it is generally true that workers benefit from the existence of unions, regardless of whether they are union members or not.Rate this question:
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Current Version
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Jul 29, 2024Quiz Edited by
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Sep 19, 2014Quiz Created by
Jfoisy
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