Question 1

Which of the following is true of competition in product-markets?

Accepted Answer

A)  The cost of labor does not affect the product market as it is an insignificant part of an organization's costs. 
B)  Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price. 
C)  Organizations in a product market are competing to serve the same customers. 
D)  Product markets place a lower limit on the pay an organization will offer its employees. 
E)  Organizations must increase the cost of labor every quarter. 
A)  The cost of labor does not affect the product market as it is an insignificant part of an organization's costs. 
B)  Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price. 
C)  Organizations in a product market are competing to serve the same customers. 
D)  Product markets place a lower limit on the pay an organization will offer its employees. 
E)  Organizations must increase the cost of labor every quarter.

Question 2

_____ are sets of jobs having similar worth or content,grouped together to establish rates of pay.

Accepted Answer

A)  Pay scales 
B)  Pay ranges 
C)  Pay differentials 
D)  Pay levels 
E)  Pay grades 
A)  Pay scales 
B)  Pay ranges 
C)  Pay differentials 
D)  Pay levels 
E)  Pay grades

Question 3

Which of the following is a characteristic of delayering?

Accepted Answer

A)  It increases an organizations' flexibility. 
B)  It increases the opportunities for promoting employees. 
C)  It sets pay according to the employees' level of knowledge. 
D)  It encourages a climate of learning. 
E)  It helps employees use their knowledge and ideas more productively. 
A)  It increases an organizations' flexibility. 
B)  It increases the opportunities for promoting employees. 
C)  It sets pay according to the employees' level of knowledge. 
D)  It encourages a climate of learning. 
E)  It helps employees use their knowledge and ideas more productively.

Question 4

The federal government tracks trends in the nation's cost of living with a measure known as the:

Accepted Answer

A)  Consumer Price Index. 
B)  Living-Wage Index. 
C)  Gross National Product Index. 
D)  Exchange Rate Index. 
E)  Employment Cost Index. 
A)  Consumer Price Index. 
B)  Living-Wage Index. 
C)  Gross National Product Index. 
D)  Exchange Rate Index. 
E)  Employment Cost Index.

Question 5

Which of the following is true of compensable factors?

Accepted Answer

A)  They are generally statistically derived. 
B)  They are the characteristics of jobs that a firm values and chooses to pay for. 
C)  They refer to the factors that are important for setting the two-tier wage system. 
D)  They describe all aspects of the jobs being evaluated. 
E)  They are used to ensure equity among employees. 
A)  They are generally statistically derived. 
B)  They are the characteristics of jobs that a firm values and chooses to pay for. 
C)  They refer to the factors that are important for setting the two-tier wage system. 
D)  They describe all aspects of the jobs being evaluated. 
E)  They are used to ensure equity among employees.

Question 6

Which of the following is true of labor markets?

Accepted Answer

A)  Organizations compete to sell labor in the labor market. 
B)  Competition for labor establishes the minimum an organization must pay to hire an employee for a particular job. 
C)  Changes in the CPI do not affect the labor market. 
D)  Cost-of-living considerations have little impact on labor-market rates. 
E)  An organization's competitors in labor markets typically include only companies with different products. 
A)  Organizations compete to sell labor in the labor market. 
B)  Competition for labor establishes the minimum an organization must pay to hire an employee for a particular job. 
C)  Changes in the CPI do not affect the labor market. 
D)  Cost-of-living considerations have little impact on labor-market rates. 
E)  An organization's competitors in labor markets typically include only companies with different products.

Question 7

Research suggests that employees in the lower tier of the pay structure are less satisfied than the top-tier employees.

Accepted Answer

A) True 
 B)False

Question 8

The _____ requires employers to make jobs available to their workers when they return after fulfilling military duties for up to five years.

Accepted Answer

A)  USERRA 
B)  FLSA 
C)  EEOA 
D)  NLRB 
E)  FMLA 
A)  USERRA 
B)  FLSA 
C)  EEOA 
D)  NLRB 
E)  FMLA

Question 9

Broad bands increase the opportunities for promoting employees.

Accepted Answer

A) True 
 B)False

Question 10

What is benchmarking?

Accepted Answer

To compete for talent,organizations use

Question 11

The laws governing Equal Employment Opportunity guarantee equal pay for men and women,whites and minorities,and other groups within the United States.

Accepted Answer

A) True 
 B)False

Question 12

According to equity theory,people measure outcomes such as pay in terms of their outputs.

Accepted Answer

A) True 
 B)False

Question 13

Research on the effects of two-tier wage plans found that:

Accepted Answer

A)  lower-paid employees were less satisfied on average than higher-paid employees. 
B)  lower-paid employees were more satisfied on average than higher-paid employees since they made comparisons with lower-paying alternatives for themselves. 
C)  lower-paid employees expected to be promoted into the second tier in a short time span. 
D)  equity theory did not come into play for either group and neither group experienced more or less job satisfaction than the other. 
E)  both existing employees and new employees have a similar pay rate. 
A)  lower-paid employees were less satisfied on average than higher-paid employees. 
B)  lower-paid employees were more satisfied on average than higher-paid employees since they made comparisons with lower-paying alternatives for themselves. 
C)  lower-paid employees expected to be promoted into the second tier in a short time span. 
D)  equity theory did not come into play for either group and neither group experienced more or less job satisfaction than the other. 
E)  both existing employees and new employees have a similar pay rate.

Question 14

The size of the range of pay levels based on labor and product markets depends on:

Accepted Answer

A)  the minimum and maximum wages fixed by the government. 
B)  the pay of federal contractors. 
C)  an organization's competitive environment. 
D)  the quality of employees. 
E)  an organization's global reputation. 
A)  the minimum and maximum wages fixed by the government. 
B)  the pay of federal contractors. 
C)  an organization's competitive environment. 
D)  the quality of employees. 
E)  an organization's global reputation.

Question 15

Pay policies are one of the most important human resource tools for:

Accepted Answer

A)  reducing competition in the product market. 
B)  automating routine activities. 
C)  persuading customers that high quality is worth a premium price. 
D)  making decisions about product pricing. 
E)  encouraging desired employee behaviors. 
A)  reducing competition in the product market. 
B)  automating routine activities. 
C)  persuading customers that high quality is worth a premium price. 
D)  making decisions about product pricing. 
E)  encouraging desired employee behaviors.

Question 16

A company that views employees as resources is most likely to pay the employees _____.

Accepted Answer

A)  at market rates 
B)  below the market rates 
C)  above the market rates 
D)  only minimum wages 
E)  overtime rates only if they meet certain targets 
A)  at market rates 
B)  below the market rates 
C)  above the market rates 
D)  only minimum wages 
E)  overtime rates only if they meet certain targets

Question 17

The Walsh-Healy Public Contracts Act of 1936:

Accepted Answer

A)  permits a lower "training wage," which employers may pay to workers under the age of 20 for a period of up to 90 days. 
B)  requires that employers pay higher wages for overtime, defined as hours worked beyond 40 hours per week. 
C)  covers construction contractors that receive more than $2,000 in federal money. 
D)  requires general contractors performing services on prime contracts in excess of $2,500 to pay service employees in various classes no less than the wage rates found prevailing in the locality. 
E)  covers all government contractors receiving $10,000 or more in federal funds. 
A)  permits a lower "training wage," which employers may pay to workers under the age of 20 for a period of up to 90 days. 
B)  requires that employers pay higher wages for overtime, defined as hours worked beyond 40 hours per week. 
C)  covers construction contractors that receive more than $2,000 in federal money. 
D)  requires general contractors performing services on prime contracts in excess of $2,500 to pay service employees in various classes no less than the wage rates found prevailing in the locality. 
E)  covers all government contractors receiving $10,000 or more in federal funds.

Question 18

An example of a typical compensable factor is:

Accepted Answer

A)  social status. 
B)  education. 
C)  longevity. 
D)  gender. 
E)  religion. 
A)  social status. 
B)  education. 
C)  longevity. 
D)  gender. 
E)  religion.

Question 19

Which of the following is true about skill-based pay?

Accepted Answer

A)  It provides a way to ensure that employees can use their new skills. 
B)  Gathering market data about skill-based pay is easy. 
C)  It ensures that the employer pays the employee for learning skills that benefit the employer. 
D)  Skill-based pay does not necessarily provide an alternative to the bureaucracy and paperwork of traditional pay structures. 
E)  Skill-based pay does not require records related to skills, training, and knowledge acquired. 
A)  It provides a way to ensure that employees can use their new skills. 
B)  Gathering market data about skill-based pay is easy. 
C)  It ensures that the employer pays the employee for learning skills that benefit the employer. 
D)  Skill-based pay does not necessarily provide an alternative to the bureaucracy and paperwork of traditional pay structures. 
E)  Skill-based pay does not require records related to skills, training, and knowledge acquired.

Question 20

Define hourly wage,piecework rate,and salary.

Accepted Answer

The organization's pay structure should

Which of the following is true of competition in product-markets?

_____ are sets of jobs having similar worth or content,grouped together to establish rates of pay.

Which of the following is a characteristic of delayering?

The federal government tracks trends in the nation's cost of living with a measure known as the:

Which of the following is true of compensable factors?

Which of the following is true of labor markets?

Research suggests that employees in the lower tier of the pay structure are less satisfied than the top-tier employees.

The _____ requires employers to make jobs available to their workers when they return after fulfilling military duties for up to five years.

Broad bands increase the opportunities for promoting employees.

What is benchmarking?

The laws governing Equal Employment Opportunity guarantee equal pay for men and women,whites and minorities,and other groups within the United States.

According to equity theory,people measure outcomes such as pay in terms of their outputs.

Research on the effects of two-tier wage plans found that:

The size of the range of pay levels based on labor and product markets depends on:

Pay policies are one of the most important human resource tools for:

A company that views employees as resources is most likely to pay the employees _____.

The Walsh-Healy Public Contracts Act of 1936:

An example of a typical compensable factor is:

Which of the following is true about skill-based pay?

Define hourly wage,piecework rate,and salary.

Managing Human Resources

Trends in Human Resource Management

Providing Equal Employment Opportunity and a Safe Workplace

Analyzing Work and Designing Jobs

Planning for and Recruiting Human Resources

Selecting Employees and Placing Them in Jobs

Training Employees

Managing Employees Performance

Developing Employees for Future Success

Separating and Retaining Employees

Recognizing Employee Contributions With Pay

Providing Employee Benefits

Collective Bargaining and Labor Relations

Managing Human Resources Globally

Creating and Maintaining High-Performance Organizations

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Exam 11: Establishing a Pay Structure

Which of the following is true of competition in product-markets?

_____ are sets of jobs having similar worth or content,grouped together to establish rates of pay.

Which of the following is a characteristic of delayering?

The federal government tracks trends in the nation's cost of living with a measure known as the:

Which of the following is true of compensable factors?

Which of the following is true of labor markets?

Research suggests that employees in the lower tier of the pay structure are less satisfied than the top-tier employees.

The _____ requires employers to make jobs available to their workers when they return after fulfilling military duties for up to five years.

Broad bands increase the opportunities for promoting employees.

What is benchmarking?

The laws governing Equal Employment Opportunity guarantee equal pay for men and women,whites and minorities,and other groups within the United States.

According to equity theory,people measure outcomes such as pay in terms of their outputs.

Research on the effects of two-tier wage plans found that:

The size of the range of pay levels based on labor and product markets depends on:

Pay policies are one of the most important human resource tools for:

A company that views employees as resources is most likely to pay the employees _____.

The Walsh-Healy Public Contracts Act of 1936:

An example of a typical compensable factor is:

Which of the following is true about skill-based pay?

Define hourly wage,piecework rate,and salary.

Managing Human Resources

Trends in Human Resource Management

Providing Equal Employment Opportunity and a Safe Workplace

Analyzing Work and Designing Jobs

Planning for and Recruiting Human Resources

Selecting Employees and Placing Them in Jobs

Training Employees

Managing Employees Performance

Developing Employees for Future Success

Separating and Retaining Employees

Recognizing Employee Contributions With Pay

Providing Employee Benefits

Collective Bargaining and Labor Relations

Managing Human Resources Globally

Creating and Maintaining High-Performance Organizations

Filters