1. The employee’s earnings record is a listing of a firm’s complete payroll for each pay period.

a) True

b) False

2. Institutions of higher education are extended coverage under FLSA without regard to their annual sales volume.

a) True

b) False

3. If a business does not meet the enterprise coverage test, none of its workers qualify for individual employee coverage.

a) True

b) False

4. Under the FLSA, severance pay is excluded from the definition of wages.

a) True

b) False

5. The term wage refers to remuneration paid only on an hourly basis.

a) True

b) False

6. Employees paid biweekly receive their remuneration every two weeks.

a) True

b) False

7. A college may employ its own full-time students at 85% of the minimum wage.

a) True

b) False

8. The FLSA defines a tipped employee as one who regularly receives tips of more than $20 a month.

a) True

b) False

9. The Equal Pay Act stipulates that there cannot be any wage differentials between the sexes.

a) True

b) False

10. Exempt professional employees are exempt from all provisions of the FLSA—minimum wages, overtime pay, and equal pay.

a) True

b) False