Comp. and Benefits 11-14 – Flashcards
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Julio wants to apply for unemployment benefits, how much will he have to have earned, in the last four quarters, to qualify?
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$1,000 total
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If the CEO of a new company asked you how much per employee she will be taxed by FUTA, what would you tell her?
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6.2% of the first $7,000
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How is Medicare Part A financed?
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payroll taxes paid by both employers and employees
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What is the only state where employers are not required to fund workers' compensation programs?
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Texas
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Which Medicare plan offers enrollees lower premiums in exchange for limiting their choice of health care providers?
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Medicare Select
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If Fred signs-up for Medicare Part B, what percent of his medical services and supplies will be covered after he has paid his annual deductible?
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80%
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This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A&B).
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Medicare Advantage
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MomPop's General Store can avoid paying workers' compensation taxes if it keeps its staff to less than how many employees?
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12
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Under the Family and Medical Leave Act, for Pierre to take time off to take care of his wife and new child how many hours would he have had to work in the previous 12 months?
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1,250
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Medicare Select is one of the choices under which Medicare Plan?
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Medigap
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Which of the following is covered by Medicare Part A?
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home health care
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How often will Jill receive an unemployment check?
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weekly
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To receive OASDI disability benefits, Sung Lee's disability would have to be expected to last at least how long?
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12 months
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Which of these is NOT covered under workers' compensation?
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chronic unemployment
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The first 4 quarters of the last 5 completed calendar quarters in the previous year is the base period for which benefit?
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unemployment insurance
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To be fully insured under OASDI, Simone would have to work at least how long?
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10 years
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Medicare Prescription Drug Program will cover how much of Silvia's prescription costs, after she meets the initial $295 deductible?
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75%
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Th IRS uses the term "highly compensated employees" for what purpose?
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for non-discrimination rules in employer-sponsored health insurance benefits
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This type of executive bonus plan is similar to the appraisal system used to determine merit increases for non-executive employees.
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performance-contingent
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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.
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capital gains
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Which type of stock options does not give executives favorable tax treatment?
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nonstatutory
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What is the term used when a company offers stock to its employees?
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stock grant
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Executives can covert phantom stocks into real shares after they meet which two criteria?
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remain employed at least 5 years & retire from the company
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When he became CEO, Duane was given a stock option that does not require him to exercise his option in order to receive income. Which plan is it?
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stock appreciation rights
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Under SEC rules, which of the following is true?
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Board of director members may be subject to personal liability for paying excessive executive compensation.
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This stock option allows executives to be awarded stocks at discounted prices, but requires that they pay taxes on the discounted amount at the time of the stock grant.
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nonstatutory
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Which of the following are the two main components of current core compensation?
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base pay & bonuses
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Using this executive compensation theory, shareholders negotiate the compensation contracts with the executive in hopes of aligning the executive's interests with theirs/
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agency
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The SEC requires compensation information on the CEO and how many of the highest paid executives?
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4
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Restricted stock generally allows the executives ownership of the stock after how many years?
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5-10
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This refers to the sale of stock by the stockholder.
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disposition
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Which executive bonus amount varies with the extent to which a pre-established minimum performance level is met?
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target plan
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A golden parachute clause can be triggered by which of the following?
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corporate takeover
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These rights provide employees with an opportunity to purchase a number of stocks at a designated price within a specified period of time.
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stock option
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A short-term incentive plan would most likely be used for which company employee?
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the company's CEO
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These entitle an executive to purchase company stock in the future for a predetermined price.
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incentive stock options
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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.
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predetermined allocation
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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?
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tournament
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What does the IRS use the term "key employees" for?
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to determine the necessity of top-heavy provisions in employer-sponsored qualified retirement plans
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In 2010, the average CEO earned how much more annually than the average food service worker?
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178 times greater
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Which type of contingent worker tends to have specialized skills that are in relatively limited supply in the labor market?
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independent contractors
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For part-time employees to be eligible to be in a company's retirement plan, which two qualifications must be met?
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age 21 or older & worked 1000 hours in a year of service
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According to the most recent data as of this books publishing, what percentage of the U.S. civilian labor force did contingent and flextime-schedule employees comprise?
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27.5%
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A worker considered part-time is working less than how many hours in a week?
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35
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What type of test is used to determine if an independent contractor is financially dependent?
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economic reality test
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Who is responsible for compensating on-call employees?
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the hiring company
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Their placement fees are either a percentage of the client company's payroll or a fixed fee per employee.
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leased employees
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An employee living in which place would benefit most from telecommuting due to minimizing expenses and commute time?
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Boston
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Temporary employment agencies are responsible for complying with all federal employment legislation except which one?
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workers' compensation
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The Bureau of Labor Statistics does not monitor pay levels for which type of temporary workers?
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independent contractors
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ARAMARK providing cafeteria service workers to a client company is an example of the utilization of which type of employees?
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leased employees
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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?
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satellite work center
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What is it called when Tanesha and Jaunita both work part-time to complete the duties of one full-time position?
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job sharing
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What is the economic reality test used to check for?
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the financial dependence of independent contractors
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This type of telecommuting involves executives who travel extensively and maintain control over projects through the use of telephones, faxes, and email.
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nomadic executive office
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Who has the authority to define a "year of service" for pension protection purposes?
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the U.S. Department of Labor
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In 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?
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temporary
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What employment issue does the Walling v. A.H.Belo Corporation Supreme Court ruling address?
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fixed weekly pay for flexible employees
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Which type of contingent worker is most likely to be involved in a job sharing arrangement?
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part-time employees
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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?
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workers' compensation
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The safe harbor rule requires that the contingent worker be covered by whose pension plan?
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the leasing company
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Which type of contingent worker would work for a company on a long-term basis, presumably on an indefinite basis?
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leased employees
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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?
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7
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What group must strongly opposes the use of contingent workers?
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trade unions
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How many days will Jamal have to work to complete a "year of service"?
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125
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Most contingent workers were employed as what, in 2005?
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on-call employees
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If the local index for Athens, Greece is 191, what does that mean?
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the cost of living is 91% higher in Athens than Washington, DC
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Andre is going to be stationed overseas for about 18 months, so his foreign service premium will increase his base pay by about how much?
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10 - 30 %
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When is a goods and services allowance given?
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when the cost of living is higher in the foreign work location than in the U.S.
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Quarters allowance is the U.S. Department of State's nomenclature for which expatriate cost provision?
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housing and utilities allowance
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What law mandates that management bargain in good faith with labor unions over terms of employment such as wages?
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National Labor Relations Act of 1935
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If the local index in Manila, Philippines is 91, what does that mean?
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the cost of living in Manila is 9% lower than in Washington, DC
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About how many countries are deemed as hardship locations by the U.S. State Department?
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150
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The State Department's Index compares the foreign costs of goods and services with which U.S. city?
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Washington, DC
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How are hardship allowances usually paid to expatriates?
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added to monthly salary amount
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Which base-pay method works best for expatriates who move from one foreign assignment to another and rarely, if ever, work in their home countries?
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headquarters-based
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An international assignment is considered long-term when it lasts at least how long?
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1 year
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Renata Marie has been given a mobility premium as a reward for moving form one assignment to another. In what form did she receive this premium?
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lump-sum payment
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Which of the following would be considered a hardship location (due to unhealthy and difficult living conditions)?
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Calcutta, India
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Benjamin is going on his first expatriate assignment to a country considered a hardship location. About how much will you have to increase his base pay?
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5% - 35%
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If your company hired an Australian manager to work in your plant in China, she would be considered which type of international employee?
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third country national
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Your company is sending Sheila on a six-month assignment to Sweden, so you should probably use which method to determine her base pay?
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home-country based
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What happens under tax equalization?
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The employer takes the responsibility for paying the income tax on behalf of the expatriates.
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Juanita was told that on her first overseas assignment she would be getting a foreign service premium. That probably means she will be there at least how long?
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12 months
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Stephan is going to be getting a mobility premium for going to Saudi Arabia. How are you going to give it to him?
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lump-sum payment
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Which of the following is considered an enhanced benefit for expatriates?
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education reimbursement for expatriates' children
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Since he started at American Eyeful Pictures, Inc., David has worked in Japan, China, and Thailand. The company has probably set his base pay using which method?
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headquarters-based
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When determining Ms. Jenkins' relocation assistance amount what will you need to consider?
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all of the above
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These represent additional paid time off for employees working in hardship locations.
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rest and relaxation leave benefits
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Tuition reimbursement and day care assistance fall under this category.
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service practices
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AT&T plans on sending R.J. to Peru to work for at least 3 years. They will probably use which method to set his base pay?
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host-country-based
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What provides expatriates the standard of living that they normally enjoy in the United States?
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the balance sheet approach
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International employees are categorized into one of these three titles.
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host country national, third country national, expatriates
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What does the term repatriation refer to?
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an expatriate returning home to work after completing an overseas assignment
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