Test 3 (HR) Flashcards
Taft-Hartley Act passed in 1935 and more commonly referred to as the Wagner Act, granted power to labor unions on a footing more equal with managers in terms of the rights of employees.
False
A strike occurs when union members agree not to buy the products of a targeted employer.
False
Misrepresenting the facts about union or its officers is considered an unfair labor practice by employers.
True
Job security and fair compensation (wages and benefits) are common reasons that individuals join unions.
True
Labor relations is the process of dealing with employees who are represented by a union.
True
When preparing for negotiations, the union relies on the union steward to provide information about members’ attitudes.
True
Collective bargaining is the process by which managers and union leaders negotiate acceptable terms and conditions of employment for those workers represented by the unions.
True
In mediation, a dispute is submitted to an impartial third party for a binding decision from a mediator who serves as a formal judge.
False
Most right-to-work states are located in the North and East.
False
Right-to-work laws prohibit management and unions from entering into agreements requiring union membership as a condition of employment.
True
All financial rewards that NOT included in direct financial compensation are known as
Employee Benefits
Which is the most expensive benefit for most businesses?
Health insurance
What Act created a system of retirement benefits?
Social Security Act
Which of the following would most likely be eligible for Medicare?
Charles, a 66-year-old retired realtor
What will be the retirement age in 2027 to receive Social Security retirement benefits?
67
The aging population and inefficient administrative processes have been factors in the rising cost of health care.
True
A number of factors have combined to create the high cost of health care including an aging population, a growing demand for medical care, increasingly expensive medical technology, and inefficient administrative processes.
Unemployment compensation provides workers whose jobs have been terminated through no fault of their own, monetary payments for up to 26 weeks.
True
Unemployment insurance provides workers whose jobs have been terminated through no fault of their own monetary payments for up to 26 weeks or until they find a new job. The intent of unemployment payments is to provide an unemployed worker time to find a new job equivalent to the one lost without suffering financial distress.
As a rule, employees receive benefits because of their productivity in an organization.
False
With a health savings account, an employee can set aside an unlimited amount of pretax funds to pay for medical expenses.
False
HSAs let workers put up to $6,550 a year in a pretax account that they can tap for medical expenses. Individuals deposit money on a pretax basis to pay for doctor visits, prescriptions, and other expenses, as well as to save for future medical expenses and build savings long-term.
Health maintenance organizations cover all services for a fixed fee but control is exercised over which doctors and health facilities a member may use.
True
A defined benefit plan is a formal retirement plan that provides the participant with a fixed benefit upon retirement.
True
A defined benefit plan is a formal retirement plan that provides the participant with a fixed benefit upon retirement. Although defined benefit formulas vary, they are typically based on the participant’s final years’ average salary and years of service.
The Social Security Act of 1935 created a system of retirement benefits.
True
The Social Security Act of 1935 created a system of retirement benefits. It also established the Social Security Administration.
Benefits do not generally serve as motivation for improved performance.
True
A 401(k) plan is a defined benefit plan in which employees may defer income up to a maximum amount allowed.
False
A 401(k) plan is a defined contribution plan in which employees may defer income up to a maximum amount allowed. A defined benefit plan is a formal retirement plan that provides the participant with a fixed benefit upon retirement.
Sabbaticals are temporary leaves of absence from an organization, usually at a reduced amount of pay.
True
