Question 1

Nonfinancial compensation consists of the satisfaction that a person receives from the psychological environment in which the person works.

Accepted Answer

A) True 
 B)False

Question 2

As an HR manager,what tool would you most likely use to determine if internal equity exists at your firm?

Accepted Answer

A)  job analysis 
B)  job evaluation 
C)  compensation survey 
D)  behavioral methods study 
A)  job analysis 
B)  job evaluation 
C)  compensation survey 
D)  behavioral methods study

Question 3

Ellen received a one-time bonus of $500 from her employer as a reward for her significant contribution on a project.Which of the following did Ellen most likely receive?

Accepted Answer

A)  a performance incentive 
B)  an experience bonus 
C)  a premium payment 
D)  a spot bonus 
A)  a performance incentive 
B)  an experience bonus 
C)  a premium payment 
D)  a spot bonus

Question 4

Which of the following is a disadvantage associated with team-based pay?

Accepted Answer

A)  Exemplary performers become disgruntled and quit. 
B)  Performance standards are difficult to develop. 
C)  Output is difficult to categorize and assess. 
D)  Members lack the time to assist others. 
A)  Exemplary performers become disgruntled and quit. 
B)  Performance standards are difficult to develop. 
C)  Output is difficult to categorize and assess. 
D)  Members lack the time to assist others.

Question 5

Omar works in the HR department at a large manufacturing firm.Omar needs a simple method for conducting a job evaluation.Which method would be most appropriate for Omar?

Accepted Answer

A)  factor comparison 
B)  classification 
C)  ranking 
D)  point method 
A)  factor comparison 
B)  classification 
C)  ranking 
D)  point method

Question 6

What is salary compression? How can firms overcome the problem of salary compression?

Accepted Answer

Salary compression occurs when less expe

Question 7

A senior statistician would probably be categorized as what type of employee under the Fair Labor Standards Act?

Accepted Answer

A)  administrative 
B)  executive 
C)  professional 
D)  outside salesperson 
A)  administrative 
B)  executive 
C)  professional 
D)  outside salesperson

Question 8

Which term refers to a grouping of similar jobs to simplify job pricing?

Accepted Answer

A)  job analysis 
B)  pay range 
C)  pay grade 
D)  job pricing 
A)  job analysis 
B)  pay range 
C)  pay grade 
D)  job pricing

Question 9

Which performance-based pay system assumes that employees who know more are more valuable to the firm and deserve to be rewarded for their efforts in acquiring new skills?

Accepted Answer

A)  variable pay 
B)  merit pay 
C)  lump sum pay 
D)  skill-based pay 
A)  variable pay 
B)  merit pay 
C)  lump sum pay 
D)  skill-based pay

Question 10

Firms use compensation surveys to determine pay structures.

Accepted Answer

A) True 
 B)False

Question 11

The Fair Labor Standards Act (as amended)provides for all of the following EXCEPT ________.

Accepted Answer

A)  minimum wage 
B)  overtime pay 
C)  age discrimination 
D)  child labor standards 
A)  minimum wage 
B)  overtime pay 
C)  age discrimination 
D)  child labor standards

Question 12

The ________ of the Dodd-Frank Act gives shareholders an advisory vote on executive pay.

Accepted Answer

A)  cap-and-trade proviso 
B)  clawback policy 
C)  say-on-pay provision 
D)  golden parachute clause 
A)  cap-and-trade proviso 
B)  clawback policy 
C)  say-on-pay provision 
D)  golden parachute clause

Question 13

Which type of profit sharing plan places company contributions in an irrevocable trust and credits individual employees' accounts?

Accepted Answer

A)  deferred plan 
B)  current plan 
C)  stock plan 
D)  defined plan 
A)  deferred plan 
B)  current plan 
C)  stock plan 
D)  defined plan

Question 14

Firms typically prefer single pay rates rather than pay ranges because of the simplicity and preciseness the system offers.

Accepted Answer

A) True 
 B)False

Question 15

Direct financial compensation consists of the pay that a person receives in the form of wages,salaries,commissions,and health benefits.

Accepted Answer

A) True 
 B)False

Question 16

Fewer part-time workers receive employee benefits than full-time workers.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is a problem inherent in compensating contingent workers?

Accepted Answer

A)  external equity 
B)  more costly to employ contingent workers 
C)  internal equity 
D)  all of the above 
A)  external equity 
B)  more costly to employ contingent workers 
C)  internal equity 
D)  all of the above

Question 18

What is the process that determines the relative value of one job in relation to another?

Accepted Answer

A)  job specification 
B)  job description 
C)  job evaluation 
D)  job analysis 
A)  job specification 
B)  job description 
C)  job evaluation 
D)  job analysis

Question 19

What creates the basis for a simpler compensation system that de-emphasizes structure and places greater importance on flexible decision making?

Accepted Answer

A)  organic structures 
B)  broadbanding 
C)  gainsharing 
D)  clustering 
A)  organic structures 
B)  broadbanding 
C)  gainsharing 
D)  clustering

Question 20

Todd,a financial analyst,was recently hired by Maxwell Enterprises.After one year with the firm,Todd will be eligible to receive a pay increase added to his base pay that is based on his performance level.Which term best describes this type of compensation?

Accepted Answer

A)  commission 
B)  merit pay 
C)  piecework 
D)  spot bonus 
A)  commission 
B)  merit pay 
C)  piecework 
D)  spot bonus

Nonfinancial compensation consists of the satisfaction that a person receives from the psychological environment in which the person works.

As an HR manager,what tool would you most likely use to determine if internal equity exists at your firm?

Ellen received a one-time bonus of $500 from her employer as a reward for her significant contribution on a project.Which of the following did Ellen most likely receive?

Which of the following is a disadvantage associated with team-based pay?

Omar works in the HR department at a large manufacturing firm.Omar needs a simple method for conducting a job evaluation.Which method would be most appropriate for Omar?

What is salary compression? How can firms overcome the problem of salary compression?

A senior statistician would probably be categorized as what type of employee under the Fair Labor Standards Act?

Which term refers to a grouping of similar jobs to simplify job pricing?

Which performance-based pay system assumes that employees who know more are more valuable to the firm and deserve to be rewarded for their efforts in acquiring new skills?

Firms use compensation surveys to determine pay structures.

The Fair Labor Standards Act (as amended)provides for all of the following EXCEPT ________.

The ________ of the Dodd-Frank Act gives shareholders an advisory vote on executive pay.

Which type of profit sharing plan places company contributions in an irrevocable trust and credits individual employees' accounts?

Firms typically prefer single pay rates rather than pay ranges because of the simplicity and preciseness the system offers.

Direct financial compensation consists of the pay that a person receives in the form of wages,salaries,commissions,and health benefits.

Fewer part-time workers receive employee benefits than full-time workers.

Which of the following is a problem inherent in compensating contingent workers?

What is the process that determines the relative value of one job in relation to another?

What creates the basis for a simpler compensation system that de-emphasizes structure and places greater importance on flexible decision making?

Todd,a financial analyst,was recently hired by Maxwell Enterprises.After one year with the firm,Todd will be eligible to receive a pay increase added to his base pay that is based on his performance level.Which term best describes this type of compensation?

Human Resource Management: An Overview

Business Ethics and Corporate Social Responsibility

Equal Employment Opportunity, Affirmative Action, and Workforce Diversity

Strategic Planning, Human Resource Planning, and Job Analysis

Recruitment

Selection

Performance Management and Appraisal

Training and Development

Indirect Financial Compensation Employee Benefits:

Labor Unions and Collective Bargaining

Internal Employee Relations

Employee Safety, Health, and Wellness

Global Human Resource Management

Filters

Exam 9: Direct Financial Compensation Core Compensation:

Nonfinancial compensation consists of the satisfaction that a person receives from the psychological environment in which the person works.

As an HR manager,what tool would you most likely use to determine if internal equity exists at your firm?

Ellen received a one-time bonus of $500 from her employer as a reward for her significant contribution on a project.Which of the following did Ellen most likely receive?

Which of the following is a disadvantage associated with team-based pay?

Omar works in the HR department at a large manufacturing firm.Omar needs a simple method for conducting a job evaluation.Which method would be most appropriate for Omar?

What is salary compression? How can firms overcome the problem of salary compression?

A senior statistician would probably be categorized as what type of employee under the Fair Labor Standards Act?

Which term refers to a grouping of similar jobs to simplify job pricing?

Which performance-based pay system assumes that employees who know more are more valuable to the firm and deserve to be rewarded for their efforts in acquiring new skills?

Firms use compensation surveys to determine pay structures.

The Fair Labor Standards Act (as amended)provides for all of the following EXCEPT ________.

The ________ of the Dodd-Frank Act gives shareholders an advisory vote on executive pay.

Which type of profit sharing plan places company contributions in an irrevocable trust and credits individual employees' accounts?

Firms typically prefer single pay rates rather than pay ranges because of the simplicity and preciseness the system offers.

Direct financial compensation consists of the pay that a person receives in the form of wages,salaries,commissions,and health benefits.

Fewer part-time workers receive employee benefits than full-time workers.

Which of the following is a problem inherent in compensating contingent workers?

What is the process that determines the relative value of one job in relation to another?

What creates the basis for a simpler compensation system that de-emphasizes structure and places greater importance on flexible decision making?

Todd,a financial analyst,was recently hired by Maxwell Enterprises.After one year with the firm,Todd will be eligible to receive a pay increase added to his base pay that is based on his performance level.Which term best describes this type of compensation?

Human Resource Management: An Overview

Business Ethics and Corporate Social Responsibility

Equal Employment Opportunity, Affirmative Action, and Workforce Diversity

Strategic Planning, Human Resource Planning, and Job Analysis

Recruitment

Selection

Performance Management and Appraisal

Training and Development

Indirect Financial Compensation Employee Benefits:

Labor Unions and Collective Bargaining

Internal Employee Relations

Employee Safety, Health, and Wellness

Global Human Resource Management

Filters