Question 1

Medicare is the health insurance program that was implemented by the government in 1965 to provide medical care primarily for:

Accepted Answer

A)  disabled workers. 
B)  government employees. 
C)  people over the age of 65. 
D)  cancer patients. 
A)  disabled workers. 
B)  government employees. 
C)  people over the age of 65. 
D)  cancer patients. C

Question 2

Which of the following is a metric of human resources in variable pay plans?

Accepted Answer

A)  Revenue growth 
B)  Employee satisfaction 
C)  Customer satisfaction 
D)  Return on investment 
A)  Revenue growth 
B)  Employee satisfaction 
C)  Customer satisfaction 
D)  Return on investment B

Question 3

Define the concepts of vesting and portability.

Accepted Answer

Vesting is a right associated with retirement plans. It means that an employee has a benefit that cannot be taken away. If employees resign or are terminated before they have been employed long enough to be vested, no pension rights accrue to them except the funds they have contributed. If employees work for the required number of years to be fully vested, they retain their pension rights and receive the amounts contributed by both the employer and themselves.
Another feature of some retirement plans is portability. In a portable plan, employees can move their retirement benefits from one employer to another. Instead of requiring workers to wait until they retire to move their retirement plan benefits, once workers have vested in a plan they can transfer their fund balances to other retirement plans if they change jobs.

Question 4

Which of the following is a metric of sales programs in variable pay plans?

Accepted Answer

A)  Return on investment 
B)  Turnover costs 
C)  Accident rates 
D)  Increase in market share 
A)  Return on investment 
B)  Turnover costs 
C)  Accident rates 
D)  Increase in market share

Question 5

In a stock option plan, if the market price of the stock exceeds the exercise price, _____.

Accepted Answer

A)  employees can then exercise the option and buy the stock 
B)  employees have to purchase the stock at the new price 
C)  employees have to forfeit their claims to the company shares 
D)  employees will make a loss through stock ownership 
A)  employees can then exercise the option and buy the stock 
B)  employees have to purchase the stock at the new price 
C)  employees have to forfeit their claims to the company shares 
D)  employees will make a loss through stock ownership

Question 6

Which of the following is the most commonly used frequency of distributing team/group incentives?

Accepted Answer

A)  Monthly 
B)  Semiannually 
C)  Annually 
D)  Quarterly 
A)  Monthly 
B)  Semiannually 
C)  Annually 
D)  Quarterly

Question 7

Variable pay plans attempt to provide tangible rewards, or incentives, to employees for performance beyond normal expectations.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is true of spot bonuses?

Accepted Answer

A)  They are only given in the form of nonmonetary incentives. 
B)  They can be awarded only during appraisals. 
C)  They can be given for extra time worked. 
D)  They are given to a team and not to individual employees. 
A)  They are only given in the form of nonmonetary incentives. 
B)  They can be awarded only during appraisals. 
C)  They can be given for extra time worked. 
D)  They are given to a team and not to individual employees.

Question 9

What are the different conditions under which employers grant "leaves of absence" to their employees?

Accepted Answer

Employers grant leaves of absence, taken

Question 10

Jim, a 23 years old factory worker, was seriously injured when a hammer fell on his head while he was at his work station. Jim hadn't worn his safety helmet at the time of the accident even though the safety rules of the company necessitate the use of safety helmets at all times. Which of the following is true?

Accepted Answer

A)  Jim can claim Social Security benefits. 
B)  Jim will not receive workers' compensation because he is responsible for the injury. 
C)  Jim will receive severance payment when he returns to work after his injuries are healed. 
D)  Jim will receive workers' compensation even though he is responsible for the injury. 
A)  Jim can claim Social Security benefits. 
B)  Jim will not receive workers' compensation because he is responsible for the injury. 
C)  Jim will receive severance payment when he returns to work after his injuries are healed. 
D)  Jim will receive workers' compensation even though he is responsible for the injury.

Question 11

A program that combines sick leave, vacations, and holidays into a total number of hours or days that employees can take off with pay is called a(n) _____ plan.

Accepted Answer

A)  consolidated time off 
B)  flexible benefits 
C)  accumulated leave 
D)  paid time-off 
A)  consolidated time off 
B)  flexible benefits 
C)  accumulated leave 
D)  paid time-off

Question 12

Defined contribution pension plans offer employees retirement benefits that are more secure and predictable.

Accepted Answer

A) True 
 B)False

Question 13

Copayments are paid by insured individuals to cover their entire medical expenses.

Accepted Answer

A) True 
 B)False

Question 14

The most prevalent forms of organization-wide incentives are piece-rate systems, sales commissions, and individual bonuses.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements is true of discretionary efforts?

Accepted Answer

A)  It is the difference between the amount of effort a person has exerted and the minimum amount of effort that he or she needs to exert to keep from being fired. 
B)  It is the difference between the maximum amount of effort a person can exert and the minimum amount of effort that he or she needs to exert to keep from being fired. 
C)  It is the difference between the maximum amount of effort a person can exert and the amount of effort a person has exerted while on-the-job. 
D)  It is the difference between the amount of effort a person has exerted and the maximum amount of effort that a person can exert while on-the-job. 
A)  It is the difference between the amount of effort a person has exerted and the minimum amount of effort that he or she needs to exert to keep from being fired. 
B)  It is the difference between the maximum amount of effort a person can exert and the minimum amount of effort that he or she needs to exert to keep from being fired. 
C)  It is the difference between the maximum amount of effort a person can exert and the amount of effort a person has exerted while on-the-job. 
D)  It is the difference between the amount of effort a person has exerted and the maximum amount of effort that a person can exert while on-the-job.

Question 16

In a straight piece-rate system, wages are determined by:

Accepted Answer

A)  dividing the number of units produced by the piece rate for one unit. 
B)  multiplying the number of units produced by the piece rate for one unit. 
C)  adding the piece rate for one unit by the number of units produced. 
D)  dividing the piece rate for one unit by the number of units produced. 
A)  dividing the number of units produced by the piece rate for one unit. 
B)  multiplying the number of units produced by the piece rate for one unit. 
C)  adding the piece rate for one unit by the number of units produced. 
D)  dividing the piece rate for one unit by the number of units produced.

Question 17

Increasing the retirement age for employees is a strategy to keep the Social Security program insolvent.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a disadvantage of providing flexibility in benefit choice?

Accepted Answer

A)  The flexible benefits plans do not cover higher-risk employees. 
B)  There is a risk that employees may choose an inappropriate benefits package. 
C)  The flexible benefits plans are typically discriminatory in nature. 
D)  There is a risk that these plans would increase the attrition rate. 
A)  The flexible benefits plans do not cover higher-risk employees. 
B)  There is a risk that employees may choose an inappropriate benefits package. 
C)  The flexible benefits plans are typically discriminatory in nature. 
D)  There is a risk that these plans would increase the attrition rate.

Question 19

Describe the primary objectives of profit sharing plans.

Accepted Answer

The primary objectives of profit sharing

Question 20

_____ typically consists of approaches that monitor and reduce medical costs through restrictions and market system alternatives.

Accepted Answer

A)  Utilization review 
B)  Managed care 
C)  A medical review program 
D)  A medical option plan 
A)  Utilization review 
B)  Managed care 
C)  A medical review program 
D)  A medical option plan

Medicare is the health insurance program that was implemented by the government in 1965 to provide medical care primarily for:

Which of the following is a metric of human resources in variable pay plans?

Define the concepts of vesting and portability.

Which of the following is a metric of sales programs in variable pay plans?

In a stock option plan, if the market price of the stock exceeds the exercise price, _____.

Which of the following is the most commonly used frequency of distributing team/group incentives?

Variable pay plans attempt to provide tangible rewards, or incentives, to employees for performance beyond normal expectations.

Which of the following is true of spot bonuses?

What are the different conditions under which employers grant "leaves of absence" to their employees?

A program that combines sick leave, vacations, and holidays into a total number of hours or days that employees can take off with pay is called a(n) _____ plan.

Defined contribution pension plans offer employees retirement benefits that are more secure and predictable.

Copayments are paid by insured individuals to cover their entire medical expenses.

The most prevalent forms of organization-wide incentives are piece-rate systems, sales commissions, and individual bonuses.

Which of the following statements is true of discretionary efforts?

In a straight piece-rate system, wages are determined by:

Increasing the retirement age for employees is a strategy to keep the Social Security program insolvent.

Which of the following is a disadvantage of providing flexibility in benefit choice?

Describe the primary objectives of profit sharing plans.

_____ typically consists of approaches that monitor and reduce medical costs through restrictions and market system alternatives.

HRS Role, Strategy, and Planning

Equal Employment Opportunity and Discrimination

Workforce, Jobs, and Retention

Staffing: Recruiting and Selection

Talent Management, Training, and Development

Performance Management and Appraisal

Total Rewards and Compensation

Risk Management, Worker Protection, and Employee Relations

Unionmanagement Relations and Grievances

Filters

Exam 8: Variable Pay, Executive Compensation, and Benefits

Medicare is the health insurance program that was implemented by the government in 1965 to provide medical care primarily for:

Which of the following is a metric of human resources in variable pay plans?

Define the concepts of vesting and portability.

Which of the following is a metric of sales programs in variable pay plans?

In a stock option plan, if the market price of the stock exceeds the exercise price, _____.

Which of the following is the most commonly used frequency of distributing team/group incentives?

Variable pay plans attempt to provide tangible rewards, or incentives, to employees for performance beyond normal expectations.

Which of the following is true of spot bonuses?

What are the different conditions under which employers grant "leaves of absence" to their employees?

A program that combines sick leave, vacations, and holidays into a total number of hours or days that employees can take off with pay is called a(n) _____ plan.

Defined contribution pension plans offer employees retirement benefits that are more secure and predictable.

Copayments are paid by insured individuals to cover their entire medical expenses.

The most prevalent forms of organization-wide incentives are piece-rate systems, sales commissions, and individual bonuses.

Which of the following statements is true of discretionary efforts?

In a straight piece-rate system, wages are determined by:

Increasing the retirement age for employees is a strategy to keep the Social Security program insolvent.

Which of the following is a disadvantage of providing flexibility in benefit choice?

Describe the primary objectives of profit sharing plans.

_____ typically consists of approaches that monitor and reduce medical costs through restrictions and market system alternatives.

HRS Role, Strategy, and Planning

Equal Employment Opportunity and Discrimination

Workforce, Jobs, and Retention

Staffing: Recruiting and Selection

Talent Management, Training, and Development

Performance Management and Appraisal

Total Rewards and Compensation

Risk Management, Worker Protection, and Employee Relations

Unionmanagement Relations and Grievances

Filters