Exam 9: Direct Financial Compensation Core Compensation:

Which job evaluation method involves defining a number of grades to describe a group of jobs?

Compensation is the total of all rewards provided to employees in return for their services.

There are many contextual influences that must be taken into account when designing and implementing direct financial compensation plans,and one of them is interindustry wage or compensation differentials.Briefly,state the implications of these differentials for establishing competitive compensation programs.Then,explain the factors that contribute to the existence of interindustry wage differentials.

Bonuses and performance-based pay have become popular for executive compensation packages because the U.S.tax laws do not allow firms to deduct more than $500,000 of an executive's salary.

What is compensation? Define direct financial,indirect financial and nonfinancial compensation.

Labor unions tend to favor ________ as the basis for compensation changes.

The Walsh-Healy Act was the first national law to mandate a minimum wage.

What is the primary by-product of job analysis?

Wages,salaries,bonuses,and commissions are referred to as ________.

Entry-level engineers at A-1 Manufacturing are paid as much as engineers who have been with the firm for five years.Which of the following best describes the situation at A-1?

Which term refers to the face value of pay?

Compare and discuss skill-based and competency-based systems of pay.

In determining pay grades,each dot on a scatter diagram represents ________.

Anna,a marketing manager,frequently takes development and training courses to learn new skills.Anna is financially rewarded by her employer each time she acquires a new capability.What type of compensation plan is most likely used by Anna's employer?

Contingent workers and noncontingent (regular)workers are paid approximately the same amount for performing equal work because of Fair Labor Standards Act requirements.

Clawback contract provisions are required for companies to recover any incentive compensation paid to top executives that was based on inaccurate financial data.

Which Act requires companies with federal supply contracts exceeding $10,000 to pay prevailing wages?

Companies that implement a market lead pay policy usually attract more highly qualified applicants than lower paying firms in the same labor market.

What form of compensation consists of the satisfaction that a person receives from the job itself or from the psychological and/or physical environment in which the person works?

Which of the following is an example of indirect financial compensation (employee benefits)?