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WorldatWork Regulatory Environments for Compensation Programs Sample Questions:

1. To qualify for the executive exemption from the minimum wage and overtime provisions of the FLSA, among other things what must an employee do?

A) Customarily and regularly direct the work of at least two full-time employees
B) Possess knowledge of an advanced type in business administration
C) Perform work that is intellectual and varied
D) Devote less than 15% of his/her time to nonexempt work

2. What happens to the marginal cost if revenue accelerates slower than variable costs but fixed costs remain the same?

A) It increases at the same rate as variable costs.
B) It decreases because variable costs are increasing.
C) It remains the same.
D) It becomes increasingly higher as revenues increase.

3. Who are you most likely to hear from if there are questions about an employee's compensation?

A) The employee's department head
B) A concerned co-worker
C) The employee
D) The employee's manager

4. What is the term for the skills, technologies, applications and practices of continuous iterative exploration and investigation of past business performance used to gain insight and drive business planning?

A) Statistical analysis
B) Business forecasting
C) Business analytics
D) Predictive modeling

5. Which of the following acts is focused on employers with construction contracts with the government?

A) McNamara-O'Hara Act
B) National Labor Relations Act
C) Sherman Antitrust Act
D) Davis-Bacon Act

Solutions: