ERISA provides for full vesting of the employer's contribution to an employee's pension fund in three years or gradually over:

a.ten years.

b.seven years.

c.five years.

d.six years.

e.No gradual vesting is allowed.

Which of the following records lists all employees who earn remuneration, the amount of remuneration, the deductions, and the net amount paid for each payroll period?

a.Change in payroll rate form

b.Payroll register

c.Reference inquiry form

d.Employee history record

e.None of these choices are correct.

Which of the following acts levies a tax on employers and employees that is credited to the Federal Old-Age and Survivors' Trust Fund and the Federal Disability Insurance Trust Fund?

a.Federal Unemployment Tax Act

b.Fair Labor Standards Act

c.Employee Retirement Income Security Act

d.Federal Income Tax Act

e.Federal Insurance Contributions Act

Unless instructed otherwise, compute hourly rate and overtime rates as follows:

1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).

2. If the third decimal place is 5 or more, round to the next higher cent.

3. If the third decimal place is less than 5, drop the third decimal place.

Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.

Kerr receives an annual $25,700 base salary for working the territory in Arizona. A quota of $900,000 in sales has been set for that state. Kerr receives an 8 percent commission on all sales in excess of $900,000. This year, the sales are $965,000. The total earnings due Kerr this year are $__________

Unless instructed otherwise, compute hourly rate and overtime rates as follows:

1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).

2. If the third decimal place is 5 or more, round to the next higher cent.

3. If the third decimal place is less than 5, drop the third decimal place.

Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.

Bakker is paid an hourly rate of $10.65. For 130 minutes spent on a certain job, Bakker is paid $_______ (round to nearest cent)

Employers can exempt the following from the provision of the Family and Medical Leave Act:

a.All salaried employees

b.Highest-paid 10 percent of their workforce

c.Employees with less than a five year tenure with the employer

d.All employees earning the miniumum wage

e.All employees under the age of 30