BUS 409 Week 10 Quiz 9
This paper of BUS 409 Week 10 Quiz 9 covers:
1) What does the IRS use the term "key employees" for?
2) The IRS considers Sylvia to be a highly compensated employee for Beautiful Pictures, Inc., which means she has at least one of which of the following qualifications in the preceding year?
3) Which of the following are the two main components of current core compensation?
4) Under the Troubled Assets Relief Program (TARP), banks with financial assistance from the federal government can only deduct how much annually for an executive's pay as a business expense?
5) This type of executive bonus plan is similar to the appraisal system used to determine merit increases for non-executive employees.
6) This type of executive bonus is based on a bonus pool that is determined by a fixed-formula that is not determined by the executive's performance.
7) Which executive bonus amount varies with the extent to which a pre-established minimum performance level is met?
8) As the vice-president, Sheila will receive short-term incentive compensation awards based on which two conditions?
9) A short-term incentive plan would most likely be used for which company employee?
10) What is the advantage of compensation deferment until retirement for a CEO?
11) These entitle an executive to purchase company stock in the future for a predetermined price.
12) These rights provide employees with an opportunity to purchase a number of stocks at a designated price within a specified period of time.
13) What is the term used when a company offers stock to its employees?
14) This refers to the sale of stock by the stockholder.
15) This is the difference between the stock price at the time of purchase and the lower stock price at the time an executive receives the stock option.
16) Which type of stock options does not give executives favorable tax treatment?
17) Restricted stock generally allows the executives ownership of the stock after how many years?
18) An insurance company's board of directors decided to promise Katherine, one of their recently hired senior executives, to pay a bonus that is equal to the value of 10,000 company shares at the time she started to work. What type of compensation arrangement did the board of directors promise?
19) When he became CEO, Duane was given a stock option that does not require him to exercise his options in order to receive income. Which plan is it?
20) After the recent merger of ABC and XYZ Airlines, the former CFO of XYZ Airlines, John, lost his employment in the newly merged airline. Which compensation agreement extends pay and benefits for John?
21) XYZ Co. took back performance-based compensation of $1.2 million from their CEO because of his decision of the buyout of another firm that eventually lowered the overall value of the XYZ Co. Which of the following compensation agreements allowed the board of directors to take back this $1.2 million?
22) The recently appointed CEO of XYZ Inc. uses a luxury summerhouse owned by the company for rest and relaxation with his family as well as a place to invite important clients before a lucrative business deal. XYZ Inc. also provides a membership to an exclusive country club to its CEO. These kinds of benefits offered to CEOs are called
23) Using this executive compensation theory, shareholders negotiate the compensation contracts with the executive in hopes of aligning the executive's interests with theirs.
24) In the end, Yolanda beat Tristen and Michel in a series of competitions among top-level managers to become CEO of National LemGlass. Which compensation theory did the company probably use?
25) The SEC requires compensation information on the CEO and how many of the highest paid executives?
26) Under SEC rules, which of the following is true?
27) The SEC's Summary Compensation Table contains data covering how many years?
28) XYZ Pharmaceuticals recently announced that the clinical trials for a cancer drug failed to cure the illness. This announcement led to a dramatic decrease in the stock value of the company. The company hired a new CEO two years ago when the clinical trials for this drug had already initiated. Which one of the following is true about the compensation of the CEO of XYZ Pharmaceuticals?
29) What was the median annual earnings for all U.S. civilian workers in 2009?
30) In 2009, the average CEO earned how much more annually than the average food service worker?
31) ________ bonuses are awarded to executives by boards of directors on an elective basis.
32) Company stock shares are the main form of executives' ________ compensation.
33) Executives receive ________ as the difference between the stock price at the time of purchase and the lower stock price at the time an executive receives the stock option.
34) A ________ stock plan is an arrangement whereby executives receive a bonus that is equivalent to either the value of company shares or the increase in that value over time.
35) ________ provide pay and benefits to executives after a termination that results from a change in ownership or merger.
36) The ________ Act of 2002 brought a number of reforms to enhance corporate responsibility, enhance financial disclosures, and combat accounting fraud due to fraud in companies such as Enron and Tyco.
37) A ________ entails an examination of a company's external market context along with internal factors.
38) Shareholders' interests are represented by a ________ who weigh the pros and cons of top executives' decisions.
39) The actions of executives on behalf of their own self-interest are known as the ________ problem.
40) The concept that individuals evaluate their accomplishments by comparing themselves to similar individuals is based on ________ theory.
41) Discuss the six forms of deferred (stock) compensation.
42) Briefly discuss the current core compensation and employee benefits of executive compensation.
43) Who are the key players in setting executive compensation? Detail their different roles. How does SEC affect their roles?
1) According to the most recent data as of this book's publishing, what percentage of the U.S. civilian labor force did contingent and flextime-schedule employees comprise?
2) A worker considered part-time is working less than how many hours in a week?
3) Contingent workers typically find employment in which of the following industries?
4) Most contingent workers were employed as what, in 2005?
5) What is it called when Tanesha and Jaunita both work part-time to complete the duties of one full-time position?
6) Which type of contingent worker is most likely to be involved in a job sharing arrangement?
7) If a company wanted to hire contingent workers as a way to screen workers for possible full-time employment, which type of worker would the company likely employ?
8) Who is responsible for compensating on-call employees?
9) Which type of contingent worker would work for a company on a long-term basis, presumably on an indefinite basis?
10) Their placement fees are either a percentage of the client company's payroll or a fixed fee per employee.
11) ARAMARK providing cafeteria service workers to a client company is an example of the utilization of which type of employees?
12) John is offered to be an adjunct faculty for a semester to teach a statistics class in place of a professor who is on a sabbatical leave. This example represents which of the following?
13) What percentage of part-time employees had access to employer-sponsored health insurance programs in 2010?
14) The average monthly health insurance premium cost companies how much as of September 2010?
15) Temporary employment agencies are responsible for complying with all federal employment legislation except which one?
16) Ashley was working as a part-time employee in a private company. She has just been laid off. Under which protection will she temporarily continue receiving employer-sponsored health care insurance coverage?
17) For part-time employees to be eligible to be in a company's retirement plan, which two qualifications must be met?
18) How many days will Jamal have to work to complete a "year of service"?
19) Who has the authority to define a "year of service" for pension protection purposes?
20) To be covered by FLSA overtime and minimum wage provisions, seasonal employees must work for a company that is open how many months in a year?
21) Since temporary workers are employees of both the temporary employment agency and the client company, the dual employer common law doctrine establishes temporary workers' right to receive which of the following?
22) The safe harbor rule requires that the contingent worker be covered by whose pension plan?
23) According to the safe harbor rules, leased employees can make up no more than what percentage of your company's total workforce?
24) The Bureau of Labor Statistics does not monitor pay levels for which type of temporary workers?
25) What type of test is used to determine if an independent contractor is financially dependent?
26) When a telecommuting employee works from a remote extension from the employer's office that includes a clerical staff and a full-time manager, that employee is said to be working at what type of office?
27) This type of telecommuting involves executives who travel extensively and maintain control over projects through the use of telephones, faxes, and e-mail.
28) An employee living in which place would benefit most from telecommuting due to minimizing expenses and commute time?
29) What employment issue does the Walling v. A.H. Belo Corporation Supreme Court ruling address?
30) What group most strongly opposes the use of contingent workers?
31) ________ have full-time jobs, and plan on having long-term relationships with their employers.
32) ________ part-time employees work fewer than 35 hours per week because they are unable to find full-time employment.
33) A special kind of part-time employment agreement whereby two or more part-time employees perform a full-time job is better known as ________.
34) With ________ arrangements, temporary employees generally do not work for more than one year, and the hiring companies are the temporary workers' legal employers.
35) The ________ common law doctrine establishes temporary workers' rights to receive workers' compensation.
36) Companies must use the IRC's ________ test to determine whether individuals are employees or independent contractors.
37) Carlos works at XYZ Innovations Inc. as a computer scientist. ________ schedules enable Carlos working four 10-hour days.
38) ________ allows for an alternative work arrangement in which employees are able to work at home or at an alternate location besides the office.
39) James works at home 3 days a week and works at his office 2 days a week. His employer provides a computer, modem, and printer for him to use at home. The equipment for his off site use is an example of ________.
40) ________ occurs when all members of a group agree on mistaken conclusions due to conformity in sharing the same mind-set.
41) Explain leased employee arrangements. Discuss employee benefits for leased workers.
42) Discuss flexible work schedules from the perspective of both unions and employees.
43) What are the strategic issues involved with contingent and flexible workers for a company pursuing a lowest cost strategy?