Exam 9: Managing Compensation

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The employer must pay an employee for whatever work the employee must or is allowed to perform,even if it is not specifically expected or requested.

(True/False)
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The point system of job evaluation permits jobs to be evaluated quantitatively based on compensable factors.

(True/False)
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Another basis for compensation centers on whether employees are classified as nonexempt or exempt under the _____.

(Multiple Choice)
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Employees covered by the overtime provisions of the Fair Labor Standards Act are labeled:

(Multiple Choice)
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Equity theory is also known as:

(Multiple Choice)
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Job ranking is a simple method that provides a precise measure of each job's worth.

(True/False)
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Which of the following is an internal factor that can influence the rates at which employees are paid?

(Multiple Choice)
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The Fair Labor Standards Act has four major provisions.The provisions are concerned with minimum wage rates,overtime payments,equal rights,and child labor.

(True/False)
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Point manuals contain job descriptions and the number of points assigned to each job type.

(True/False)
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Employers refer to the area from which they obtain certain types of workers as the labor market.

(True/False)
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Pay secrecy seems to be an accepted practice in many organizations.

(True/False)
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Wage survey data can be obtained from government sources,trade associations,and professional groups,or organizations can conduct their own surveys.

(True/False)
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Which of the following is NOT a common goal of a strategic compensation policy?

(Multiple Choice)
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Real wages represent the difference between wage increases and cost-of-living increases.

(True/False)
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The consumer price index tracks the change in price over time of a "market basket" of goods and services.

(True/False)
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The National Compensation Survey published by the Bureau of Labor Statistics can provide local,regional,and national compensations statistics.

(True/False)
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Under the Walsh-Healy Act,employers must exclude any bonuses or incentive payments that may be a part of the employee's total earnings.

(True/False)
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The Equal Pay Act prohibits wage discrimination based on:

(Multiple Choice)
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Under the Fair Labor Standards Act,the majority of hourly workers involved in interstate commerce are considered nonexempt.

(True/False)
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Raising selection standards and hiring better-qualified employees can reduce training costs.

(True/False)
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