The Maximum Number of Hours That an Employee Can Work

question 9

Multiple Choice

The maximum number of hours that an employee can work in a workweek under the Fair Labor Standards Act is:

• A)not limited for employees 16 years of age and over
• B)limited to forty hours per week for employees under 16 years of age while school is in session
• C)not limited for employees 16 years and over, but it must equal no more than 40 hours a week when averaged across any two work weeks
• D)limited to 50 hours per week for employees who are non-exempt, but there is no limit for exempt managers and professionals.
• E)none of the above

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Definitions:

Forward Contract

A derivative financial contract obligating the buyer to purchase an asset, or the seller to sell an asset, at a predetermined future date and price.

Swap Contract

An agreement by two parties to exchange, or swap, specified cash flows at specified intervals in the future.

Currencies

Forms of money that are issued by governments and used as a medium of exchange for goods and services in economic transactions.

Interest Rates

The percentage charged on the total amount borrowed or earned, reflecting the cost of borrowing or the yield on investments.