Question 1

Which of the following is a metric of sales programs in variable pay plans?

Accepted Answer

A)  Return on investment 
B)  Turnover costs 
C)  Accident rates 
D)  Increase in market share 
A)  Return on investment 
B)  Turnover costs 
C)  Accident rates 
D)  Increase in market share

Question 2

Describe the Lilly Ledbetter Fair Pay Act.

Accepted Answer

The Fair Pay Act (2009) extended the sta

Question 3

In the context of compensation quartile strategies, the match-the-market strategy is also called the third-quartile strategy.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true of an employer who uses the second-quartile strategy of compensation?

Accepted Answer

A)  The employer pays the employees above market levels. 
B)  The employer determines the pay independent of the market scenario. 
C)  The employer pays the employees below market levels. 
D)  The employer pays the employees on par with the market levels. 
A)  The employer pays the employees above market levels. 
B)  The employer determines the pay independent of the market scenario. 
C)  The employer pays the employees below market levels. 
D)  The employer pays the employees on par with the market levels.

Question 5

Describe two motivation theories and their relationship with compensation.

Accepted Answer

The expectancy theory of motivation was

Question 6

The rate paid for a job by a majority of the employers in the appropriate geographic area determines _____.

Accepted Answer

A)  commission 
B)  gainsharing 
C)  monetary incentives 
D)  prevailing wages 
A)  commission 
B)  gainsharing 
C)  monetary incentives 
D)  prevailing wages

Question 7

Distinguish between extrinsic and intrinsic rewards.

Accepted Answer

Many of the rewards given to employees b

Question 8

The relationship between job value as determined by job evaluation points and job value as determined by pay survey rates is shown by a _____.

Accepted Answer

A)  market grade 
B)  market band 
C)  market line 
D)  market scale 
A)  market grade 
B)  market band 
C)  market line 
D)  market scale

Question 9

Which of the following statements is true of a discretionary system of determining bonuses?

Accepted Answer

A)  The federal and state governments decide the bonuses. 
B)  All the shareholders of the company decide the bonuses. 
C)  The labor unions and employees decide the bonuses. 
D)  The CEO and the board of directors decide the bonuses. 
A)  The federal and state governments decide the bonuses. 
B)  All the shareholders of the company decide the bonuses. 
C)  The labor unions and employees decide the bonuses. 
D)  The CEO and the board of directors decide the bonuses.

Question 10

A percentage of the revenue generated by sales that is given to an agent or salesperson is called _____.

Accepted Answer

A)  severance pay 
B)  wage 
C)  basic salary 
D)  commission 
A)  severance pay 
B)  wage 
C)  basic salary 
D)  commission

Question 11

The practice of using fewer pay grades with much broader ranges than in traditional compensation systems is called broadbanding.

Accepted Answer

A) True 
 B)False

Question 12

Compa-ratio = _____.

Accepted Answer

A)  total pay divided by the total number of employees 
B)  pay level divided by the midpoint of the pay range 
C)  total pay divided by the midpoint of the pay range 
D)  pay level divided by the total number of employees 
A)  total pay divided by the total number of employees 
B)  pay level divided by the midpoint of the pay range 
C)  total pay divided by the midpoint of the pay range 
D)  pay level divided by the total number of employees

Question 13

Which of the following statements is true of the salary-only approach?

Accepted Answer

A)  The salary-only approach is useful when an organization emphasizes serving and retaining existing accounts. 
B)  The salary-only approach is useful when an organization emphasizes generating new sales and accounts. 
C)  The salary-only approach is useful only when an organization is compensating experienced sales executives. 
D)  The salary-only approach is not useful in compensating sales representatives who are new to the job. 
A)  The salary-only approach is useful when an organization emphasizes serving and retaining existing accounts. 
B)  The salary-only approach is useful when an organization emphasizes generating new sales and accounts. 
C)  The salary-only approach is useful only when an organization is compensating experienced sales executives. 
D)  The salary-only approach is not useful in compensating sales representatives who are new to the job.

Question 14

Discuss individual pay.

Accepted Answer

Once pay grades and pay ranges have been

Question 15

Which of the following is true of the point factor method of job evaluation?

Accepted Answer

A)  In this method, descriptions of job classes are written and then each job is put into a grade according to the class it best matches. 
B)  It is a complex quantitative method that combines the ranking and classification methods. 
C)  It looks at compensable factors in a group of similar jobs and assigns weights to them. 
D)  It is a simple system that places jobs in order, from highest to lowest, by their value to the organization. 
A)  In this method, descriptions of job classes are written and then each job is put into a grade according to the class it best matches. 
B)  It is a complex quantitative method that combines the ranking and classification methods. 
C)  It looks at compensable factors in a group of similar jobs and assigns weights to them. 
D)  It is a simple system that places jobs in order, from highest to lowest, by their value to the organization.

Question 16

Hikoma LLC, a toy manufacturer, provides employees with incentives depending on their individual performances. This best exemplifies _____.

Accepted Answer

A)  an employee stock plan 
B)  a commission 
C)  gainsharing 
D)  deferred compensation 
A)  an employee stock plan 
B)  a commission 
C)  gainsharing 
D)  deferred compensation

Question 17

Define job evaluation.

Accepted Answer

Job evaluation is a formal, sy

Question 18

Merchandise, gift certificates, and travel are the most frequently used incentives for recognition awards.

Accepted Answer

A) True 
 B)False

Question 19

Describe employee stock ownership plans.

Accepted Answer

Firms in many industries have an employe

Question 20

The straight commission system combines the stability of a salary with the performance aspect of a commission.

Accepted Answer

A) True 
 B)False

Which of the following is a metric of sales programs in variable pay plans?

Describe the Lilly Ledbetter Fair Pay Act.

In the context of compensation quartile strategies, the match-the-market strategy is also called the third-quartile strategy.

Which of the following is true of an employer who uses the second-quartile strategy of compensation?

Describe two motivation theories and their relationship with compensation.

The rate paid for a job by a majority of the employers in the appropriate geographic area determines _____.

Distinguish between extrinsic and intrinsic rewards.

The relationship between job value as determined by job evaluation points and job value as determined by pay survey rates is shown by a _____.

Which of the following statements is true of a discretionary system of determining bonuses?

A percentage of the revenue generated by sales that is given to an agent or salesperson is called _____.

The practice of using fewer pay grades with much broader ranges than in traditional compensation systems is called broadbanding.

Compa-ratio = _____.

Which of the following statements is true of the salary-only approach?

Discuss individual pay.

Which of the following is true of the point factor method of job evaluation?

Hikoma LLC, a toy manufacturer, provides employees with incentives depending on their individual performances. This best exemplifies _____.

Define job evaluation.

Merchandise, gift certificates, and travel are the most frequently used incentives for recognition awards.

Describe employee stock ownership plans.

The straight commission system combines the stability of a salary with the performance aspect of a commission.

Human Resource Management in Organizations

Human Resource Strategy and Planning

Equal Employment Opportunity

Workforce, Jobs, and Job Analysis

Individual Organization Relations and Retention

Recruiting High-Quality Talent

Selecting Human Resources

Training Human Resources

Talent, Careers, and Development

Performance Management and Appraisal

Managing Employee Benefits

Risk Management and Worker Protection

Employee Rights and Responsibilities

Union-Management Relations

Global Human Resource Management

Filters

Exam 11: Total Rewards and Compensation

Which of the following is a metric of sales programs in variable pay plans?

Describe the Lilly Ledbetter Fair Pay Act.

In the context of compensation quartile strategies, the match-the-market strategy is also called the third-quartile strategy.

Which of the following is true of an employer who uses the second-quartile strategy of compensation?

Describe two motivation theories and their relationship with compensation.

The rate paid for a job by a majority of the employers in the appropriate geographic area determines _____.

Distinguish between extrinsic and intrinsic rewards.

The relationship between job value as determined by job evaluation points and job value as determined by pay survey rates is shown by a _____.

Which of the following statements is true of a discretionary system of determining bonuses?

A percentage of the revenue generated by sales that is given to an agent or salesperson is called _____.

The practice of using fewer pay grades with much broader ranges than in traditional compensation systems is called broadbanding.

Compa-ratio = _____.

Which of the following statements is true of the salary-only approach?

Discuss individual pay.

Which of the following is true of the point factor method of job evaluation?

Hikoma LLC, a toy manufacturer, provides employees with incentives depending on their individual performances. This best exemplifies _____.

Define job evaluation.

Merchandise, gift certificates, and travel are the most frequently used incentives for recognition awards.

Describe employee stock ownership plans.

The straight commission system combines the stability of a salary with the performance aspect of a commission.

Human Resource Management in Organizations

Human Resource Strategy and Planning

Equal Employment Opportunity

Workforce, Jobs, and Job Analysis

Individual Organization Relations and Retention

Recruiting High-Quality Talent

Selecting Human Resources

Training Human Resources

Talent, Careers, and Development

Performance Management and Appraisal

Managing Employee Benefits

Risk Management and Worker Protection

Employee Rights and Responsibilities

Union-Management Relations

Global Human Resource Management

Filters