Question 1

The compensation system typically refers to which aspect of the reward system?

Accepted Answer

A)  the mix of intrinsic and extrinsic rewards 
B)  the economic or monetary part 
C)  the entire spectrum of rewards 
D)  incentives 
A)  the mix of intrinsic and extrinsic rewards 
B)  the economic or monetary part 
C)  the entire spectrum of rewards 
D)  incentives

Question 2

According to the "Road Map to Effective Compensation," the first step is formulating your reward and compensation strategy.

Accepted Answer

A) True 
 B)False

Question 3

What philosophy is the total rewards approach to compensation based on?

Accepted Answer

A)  Proper incentives can change employee behaviour. 
B)  Intrinsic rewards are more important to people than other rewards. 
C)  There are many awards associated with the work environment that have value. 
D)  Pay is still what matters most. 
A)  Proper incentives can change employee behaviour. 
B)  Intrinsic rewards are more important to people than other rewards. 
C)  There are many awards associated with the work environment that have value. 
D)  Pay is still what matters most.

Question 4

An effective compensation system is important to most organizations because it can mean the difference between company success and failure.

Accepted Answer

A) True 
 B)False

Question 5

Which statement best describes the term "reward strategy"?

Accepted Answer

A)  the means through which performance bonuses are paid 
B)  the mix of rewards provided to organization members 
C)  the means for recognizing outstanding achievement 
D)  the means for identifying the key contextual variables for an organization 
A)  the means through which performance bonuses are paid 
B)  the mix of rewards provided to organization members 
C)  the means for recognizing outstanding achievement 
D)  the means for identifying the key contextual variables for an organization

Question 6

Which of the following statements is most accurate regarding the reward strategy?

Accepted Answer

A)  The reward system is the blueprint for creating the reward strategy. 
B)  Intrinsic awards alone will not motivate the needed behaviour. 
C)  Determining the mix of rewards to be provided is an easy process. 
D)  Various combinations of intrinsic and extrinsic rewards need to be considered for developing the optimal reward strategy. 
A)  The reward system is the blueprint for creating the reward strategy. 
B)  Intrinsic awards alone will not motivate the needed behaviour. 
C)  Determining the mix of rewards to be provided is an easy process. 
D)  Various combinations of intrinsic and extrinsic rewards need to be considered for developing the optimal reward strategy.

The compensation system typically refers to which aspect of the reward system?

According to the "Road Map to Effective Compensation," the first step is formulating your reward and compensation strategy.

What philosophy is the total rewards approach to compensation based on?

An effective compensation system is important to most organizations because it can mean the difference between company success and failure.

Which statement best describes the term "reward strategy"?

Which of the following statements is most accurate regarding the reward strategy?

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 the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters

Exam 1: A Road Map to Effective Compensation

The compensation system typically refers to which aspect of the reward system?

According to the "Road Map to Effective Compensation," the first step is formulating your reward and compensation strategy.

What philosophy is the total rewards approach to compensation based on?

An effective compensation system is important to most organizations because it can mean the difference between company success and failure.

Which statement best describes the term "reward strategy"?

Which of the following statements is most accurate regarding the reward strategy?

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 the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters