Question 1

Which of the following is not a procedure used to analyze and interpret survey data?

Accepted Answer

A)  central tendency 
B)  dispersion 
C)  compa-ratio 
D)  data aging 
A)  central tendency 
B)  dispersion 
C)  compa-ratio 
D)  data aging D

Question 2

Which of the following conditions can cause a compensating differential?

Accepted Answer

A)  a strong union 
B)  publicly visible salaries 
C)  a long term pay equity plan 
D)  a poor industry reputation 
A)  a strong union 
B)  publicly visible salaries 
C)  a long term pay equity plan 
D)  a poor industry reputation D

Question 3

Which of the following is not considered a general pattern in compensation levels?

Accepted Answer

A)  Union employees receive more compensation than comparable non-union employees. 
B)  Male employees earn more than female employees on average. 
C)  Resource sector employees earn more than those in the service sector. 
D)  The wage gap between public-sector organizations and private-sector firms is narrow for top-level employees. 
A)  Union employees receive more compensation than comparable non-union employees. 
B)  Male employees earn more than female employees on average. 
C)  Resource sector employees earn more than those in the service sector. 
D)  The wage gap between public-sector organizations and private-sector firms is narrow for top-level employees. D

Question 4

Which of the following disadvantages does not apply to in-house surveys?

Accepted Answer

A)  lack of qualified researcher in the firm 
B)  time consumption of doing a survey 
C)  a hired consultant needs to validate the information gathered 
D)  lack of employee cooperation due to the confidential nature of requested information 
A)  lack of qualified researcher in the firm 
B)  time consumption of doing a survey 
C)  a hired consultant needs to validate the information gathered 
D)  lack of employee cooperation due to the confidential nature of requested information

Question 5

You have surveyed 5 companies and obtained the following data regarding the midpoints of the base pay range for the job of "benefit clerk": $32,000 (Company A),$31,000 (Company B),$30,000 (Company C),$29,000 (Company D),and $29,000 (Company E). What is the mean for this set of data?

Accepted Answer

A)  $30,000 
B)  $29,800 
C)  $30,200 
D)  $29,000 
A)  $30,000 
B)  $29,800 
C)  $30,200 
D)  $29,000

Question 6

Which of the he following is not a possible limitation of compensation surveys?

Accepted Answer

A)  Free labour market data is not readily available. 
B)  Cannot surmise anything about compensation strategies practised by other firms. 
C)  May misrepresent actual pay trends. 
D)  Markets may not value jobs fairly. 
A)  Free labour market data is not readily available. 
B)  Cannot surmise anything about compensation strategies practised by other firms. 
C)  May misrepresent actual pay trends. 
D)  Markets may not value jobs fairly.

Question 7

Two of the least important aspects of pay data are the actual distribution of employees within their pay ranges and the amounts actually paid to employees.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is not a main step in conducting a compensation survey?

Accepted Answer

A)  identify the jobs to be surveyed 
B)  determine the information to be collected about each job 
C)  determine who will conduct the survey 
D)  determine the method of data collection 
A)  identify the jobs to be surveyed 
B)  determine the information to be collected about each job 
C)  determine who will conduct the survey 
D)  determine the method of data collection

Question 9

What are two main advantages of using third party surveys?

Accepted Answer

A)  data custom-designed for company needs 
B)  availability of technology and short time frames 
C)  covers all jobs and relevant data 
D)  simplicity and economy 
A)  data custom-designed for company needs 
B)  availability of technology and short time frames 
C)  covers all jobs and relevant data 
D)  simplicity and economy

Question 10

Third party surveys may not cover the desired jobs or compensation characteristics needed to do comparisons.

Accepted Answer

A) True 
 B)False

Question 11

The compa-ratio is calculated by taking the average pay of all employees holding a particular job title and then dividing this by the midpoint of the pay range for that job.

Accepted Answer

A) True 
 B)False

Question 12

Briefly discuss the factors to be considered in defining the relevant labour market for a given firm.

Accepted Answer

Two kinds of competitors are important t

Question 13

Which of the following survey sources creates the least confidence about the validity of their data?

Accepted Answer

A)  industry groups 
B)  in-house 
C)  free websites 
D)  consultants 
A)  industry groups 
B)  in-house 
C)  free websites 
D)  consultants

Question 14

Which of the following identifies two crucial dimensions of the labour market?

Accepted Answer

A)  occupational grouping and geographic scope 
B)  unemployment rate and turnover in the area 
C)  availability of labour and types of legislation 
D)  education levels and experience ratings 
A)  occupational grouping and geographic scope 
B)  unemployment rate and turnover in the area 
C)  availability of labour and types of legislation 
D)  education levels and experience ratings

Question 15

How does the use of questionnaires to collect data compare to personal interviews and telephone interviews?

Accepted Answer

A)  the most complete and efficient method of surveys 
B)  the least expensive and least reliable method 
C)  the most favourable and user friendly 
D)  the least efficient and most expensive method 
A)  the most complete and efficient method of surveys 
B)  the least expensive and least reliable method 
C)  the most favourable and user friendly 
D)  the least efficient and most expensive method

Question 16

Used to identify the jobs that are to be surveyed,this approach involves selecting certain jobs that are well understood and numerous in the job market and asking employers to compare their jobs with these jobs.

Accepted Answer

A)  pay trending 
B)  calibrating 
C)  market comparing 
D)  key job matching 
A)  pay trending 
B)  calibrating 
C)  market comparing 
D)  key job matching

Question 17

Which of the following terms refers to the process of adjusting the survey data to bring it up to date?

Accepted Answer

A)  benchmarking 
B)  aging the data 
C)  data alignment 
D)  pay trending 
A)  benchmarking 
B)  aging the data 
C)  data alignment 
D)  pay trending

Question 18

Which of the following situations is an indication that the pay level for a particular job in your firm is inappropriate?

Accepted Answer

A)  excessively high employee turnover 
B)  internal equity conflicts with market data 
C)  a 1.07 compa-ratio 
D)  a high dispersion between your rate and the highest-paying firms 
A)  excessively high employee turnover 
B)  internal equity conflicts with market data 
C)  a 1.07 compa-ratio 
D)  a high dispersion between your rate and the highest-paying firms

Question 19

In general,unionized employees receive a lower level of compensation than do non-union employees in comparable jobs.

Accepted Answer

A) True 
 B)False

Question 20

Identify and briefly describe the four main steps in conducting a compensation survey.

Accepted Answer

The first step is to identify the jobs t

Which of the following is not a procedure used to analyze and interpret survey data?

Which of the following conditions can cause a compensating differential?

Which of the following is not considered a general pattern in compensation levels?

Which of the following disadvantages does not apply to in-house surveys?

You have surveyed 5 companies and obtained the following data regarding the midpoints of the base pay range for the job of "benefit clerk": $32,000 (Company A),$31,000 (Company B),$30,000 (Company C),$29,000 (Company D),and $29,000 (Company E). What is the mean for this set of data?

Which of the he following is not a possible limitation of compensation surveys?

Two of the least important aspects of pay data are the actual distribution of employees within their pay ranges and the amounts actually paid to employees.

Which of the following is not a main step in conducting a compensation survey?

What are two main advantages of using third party surveys?

Third party surveys may not cover the desired jobs or compensation characteristics needed to do comparisons.

The compa-ratio is calculated by taking the average pay of all employees holding a particular job title and then dividing this by the midpoint of the pay range for that job.

Briefly discuss the factors to be considered in defining the relevant labour market for a given firm.

Which of the following survey sources creates the least confidence about the validity of their data?

Which of the following identifies two crucial dimensions of the labour market?

How does the use of questionnaires to collect data compare to personal interviews and telephone interviews?

Used to identify the jobs that are to be surveyed,this approach involves selecting certain jobs that are well understood and numerous in the job market and asking employers to compare their jobs with these jobs.

Which of the following terms refers to the process of adjusting the survey data to bring it up to date?

Which of the following situations is an indication that the pay level for a particular job in your firm is inappropriate?

In general,unionized employees receive a lower level of compensation than do non-union employees in comparable jobs.

Identify and briefly describe the four main steps in conducting a compensation survey.

A Road Map to Effective Communication

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Components of Compensation Strategy

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: the Job Evaluation Process

Evaluating Jobs: the Point Method of Job Evaluation

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters

Exam 9: Evaluating the Market

Which of the following is not a procedure used to analyze and interpret survey data?

Which of the following conditions can cause a compensating differential?

Which of the following is not considered a general pattern in compensation levels?

Which of the following disadvantages does not apply to in-house surveys?

You have surveyed 5 companies and obtained the following data regarding the midpoints of the base pay range for the job of "benefit clerk": $32,000 (Company A),$31,000 (Company B),$30,000 (Company C),$29,000 (Company D),and $29,000 (Company E). What is the mean for this set of data?

Which of the he following is not a possible limitation of compensation surveys?

Two of the least important aspects of pay data are the actual distribution of employees within their pay ranges and the amounts actually paid to employees.

Which of the following is not a main step in conducting a compensation survey?

What are two main advantages of using third party surveys?

Third party surveys may not cover the desired jobs or compensation characteristics needed to do comparisons.

The compa-ratio is calculated by taking the average pay of all employees holding a particular job title and then dividing this by the midpoint of the pay range for that job.

Briefly discuss the factors to be considered in defining the relevant labour market for a given firm.

Which of the following survey sources creates the least confidence about the validity of their data?

Which of the following identifies two crucial dimensions of the labour market?

How does the use of questionnaires to collect data compare to personal interviews and telephone interviews?

Used to identify the jobs that are to be surveyed,this approach involves selecting certain jobs that are well understood and numerous in the job market and asking employers to compare their jobs with these jobs.

Which of the following terms refers to the process of adjusting the survey data to bring it up to date?

Which of the following situations is an indication that the pay level for a particular job in your firm is inappropriate?

In general,unionized employees receive a lower level of compensation than do non-union employees in comparable jobs.

Identify and briefly describe the four main steps in conducting a compensation survey.

A Road Map to Effective Communication

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Components of Compensation Strategy

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: the Job Evaluation Process

Evaluating Jobs: the Point Method of Job Evaluation

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters