6.11. Key Terms
Before you take the exam, be certain you are familiar with the following terms:
| 401(k) plan | enterprise coverage |
| ability to pay | entitlement philosophy |
| actual deferral percentage (ADP) test | exception reporting |
| administrative services only (ASO) plan | exempt |
| base pay | experience rating |
| benchmark positions | extrinsic reward |
| bonus plan | fiduciary responsibility |
| broadbanding | flexible spending accounts (FSAs) |
| call-back pay | focal review |
| cash balance plans | gainsharing |
| classification method | gatekeeper |
| cliff vesting | geographic pay |
| commissions | graded vesting |
| comp time | graduated or gradual vesting |
| comparable worth | grant price |
| compa-ratio | grantor trusts |
| compensable factors | graveyard shift |
| compensable time | green circle |
| competency-based compensation | gross pay |
| continuous FMLA leave |
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