Question 1

Which of the following statements most accurately describes the optimal reward system?

Accepted Answer

A)  It adds the most value to the organization after considering all its costs. 
B)  It maximizes opportunities for learning and development. 
C)  It identifies best practices. 
D)  It provides whatever will satisfy the employee's needs. 
A)  It adds the most value to the organization after considering all its costs. 
B)  It maximizes opportunities for learning and development. 
C)  It identifies best practices. 
D)  It provides whatever will satisfy the employee's needs.

Question 2

Explain the ways in which "direct" and "indirect" pay are similar and different to each other.

Accepted Answer

Combined,both are tangible financial ext

Question 3

The main similarity between extrinsic rewards and intrinsic rewards is that they both flow from job content.

Accepted Answer

A) True 
 B)False

Question 4

A compensation system must be viewed in the context of the total reward system because it is the total pattern of financial and non-financial rewards that motivate employee behaviour.

Accepted Answer

A) True 
 B)False

Question 5

The compensation system typically refers to which aspect of the reward system?

Accepted Answer

A)  The mix of intrinsic and extrinsic rewards 
B)  The economic or monetary part 
C)  The entire spectrum of rewards 
D)  Incentives 
A)  The mix of intrinsic and extrinsic rewards 
B)  The economic or monetary part 
C)  The entire spectrum of rewards 
D)  Incentives

Question 6

The main difference between a reward system and a compensation system is that a reward system rewards only good performance while a compensation system provides pay to all employees.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements most accurately describes extrinsic rewards?

Accepted Answer

A)  They focus on factors inherent in the work itself - the job content. 
B)  They satisfy higher-order human needs. 
C)  They include monetary and nonmonetary rewards and come from the job context. 
D)  They involve skill variety, task identify, task significance, autonomy, and feedback. 
A)  They focus on factors inherent in the work itself - the job content. 
B)  They satisfy higher-order human needs. 
C)  They include monetary and nonmonetary rewards and come from the job context. 
D)  They involve skill variety, task identify, task significance, autonomy, and feedback.

Question 8

Which statement best describes the term "reward strategy"?

Accepted Answer

A)  The means through which performance bonuses are paid. 
B)  The mix of rewards provided to organization members. 
C)  The means for recognizing outstanding achievement. 
D)  Identifies the key contextual variables for an organization. 
A)  The means through which performance bonuses are paid. 
B)  The mix of rewards provided to organization members. 
C)  The means for recognizing outstanding achievement. 
D)  Identifies the key contextual variables for an organization.

Question 9

As a compensation consultant what is the best advice you can give to a small business owner wanting to develop the optimal reward strategy?

Accepted Answer

A)  The various combinations of intrinsic and extrinsic rewards need to be considered. 
B)  The optimal strategy is the cheapest one. 
C)  Most companies adopt a total rewards approach to compensation. 
D)  The plan for creating the compensation system is the most important aspect of the strategy. 
A)  The various combinations of intrinsic and extrinsic rewards need to be considered. 
B)  The optimal strategy is the cheapest one. 
C)  Most companies adopt a total rewards approach to compensation. 
D)  The plan for creating the compensation system is the most important aspect of the strategy.

Question 10

The two key aspects of a compensation strategy are the amount of direct pay (cash)compensation to be paid and the amount of indirect compensation (non-cash services and benefits)to be provided.

Accepted Answer

A) True 
 B)False

Question 11

You have offered to your sales associate an all expenses paid trip for two to Australia if she doubles her annual sales volume from last year.What concept are you applying?

Accepted Answer

A)  Intrinsic rewards 
B)  Extrinsic rewards 
C)  Incentives 
D)  Job enrichment 
A)  Intrinsic rewards 
B)  Extrinsic rewards 
C)  Incentives 
D)  Job enrichment

Question 12

Which of the following statements is most accurate regarding the reward strategy?

Accepted Answer

A)  The reward system is the blueprint for creating the reward strategy. 
B)  Intrinsic awards alone will not motivate the needed behaviour. 
C)  Determining the mix of rewards to be provided is an easy process. 
D)  Various combinations of intrinsic and extrinsic rewards need to be considered for developing the optimal reward strategy. 
A)  The reward system is the blueprint for creating the reward strategy. 
B)  Intrinsic awards alone will not motivate the needed behaviour. 
C)  Determining the mix of rewards to be provided is an easy process. 
D)  Various combinations of intrinsic and extrinsic rewards need to be considered for developing the optimal reward strategy.

Question 13

Explain the difference between "extrinsic" and "intrinsic" rewards. Provide examples for each type of reward.

Accepted Answer

Extrinsic rewards satisfy our basic need

Question 14

Compensation specialists are typically responsible for which aspect of the reward system?

Accepted Answer

A)  Corporate strategy 
B)  Extrinsic rewards 
C)  Intrinsic rewards 
D)  Organizational development 
A)  Corporate strategy 
B)  Extrinsic rewards 
C)  Intrinsic rewards 
D)  Organizational development

Question 15

Which statement best describes current compensation practices and expectations related to the key criteria for evaluating the success of a compensation system.

Accepted Answer

A)  It is realistic to expect that a reward system will achieve all eight of the effectiveness criteria. 
B)  Continuing evaluation of the effectiveness of the reward and compensation system is crucial for most organizations. 
C)  Successful organizations all have equitable reward systems. 
D)  Most firms have found the right answers to the compensation puzzle. 
A)  It is realistic to expect that a reward system will achieve all eight of the effectiveness criteria. 
B)  Continuing evaluation of the effectiveness of the reward and compensation system is crucial for most organizations. 
C)  Successful organizations all have equitable reward systems. 
D)  Most firms have found the right answers to the compensation puzzle.

Question 16

There is no single best compensation system that applies to all firms.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following would be an example of an intrinsic reward?

Accepted Answer

A)  Interesting and meaningful work 
B)  Pay for performance 
C)  Fair policies and procedures 
D)  Good management 
A)  Interesting and meaningful work 
B)  Pay for performance 
C)  Fair policies and procedures 
D)  Good management

Question 18

As a small business owner committed to the total rewards approach to compensation what do you need to establish before you start to develop your compensation system?

Accepted Answer

A)  a reward system 
B)  an incentive program 
C)  a compensation strategy 
D)  a reward strategy 
A)  a reward system 
B)  an incentive program 
C)  a compensation strategy 
D)  a reward strategy

Question 19

What is the goal of an organization's reward and compensation system?

Accepted Answer

All organizations have a compensation pl

Question 20

As an employer you want to implement a total rewards approach to compensation. Which of the following practices would not support this concept?

Accepted Answer

A)  Offering recognition programs. 
B)  Providing flexible work arrangements. 
C)  Providing challenging and interesting jobs with the opportunity for advancement. 
D)  Paying fixed salaries to minimize costs. 
A)  Offering recognition programs. 
B)  Providing flexible work arrangements. 
C)  Providing challenging and interesting jobs with the opportunity for advancement. 
D)  Paying fixed salaries to minimize costs.

Which of the following statements most accurately describes the optimal reward system?

Explain the ways in which "direct" and "indirect" pay are similar and different to each other.

The main similarity between extrinsic rewards and intrinsic rewards is that they both flow from job content.

A compensation system must be viewed in the context of the total reward system because it is the total pattern of financial and non-financial rewards that motivate employee behaviour.

The compensation system typically refers to which aspect of the reward system?

The main difference between a reward system and a compensation system is that a reward system rewards only good performance while a compensation system provides pay to all employees.

Which of the following statements most accurately describes extrinsic rewards?

Which statement best describes the term "reward strategy"?

As a compensation consultant what is the best advice you can give to a small business owner wanting to develop the optimal reward strategy?

The two key aspects of a compensation strategy are the amount of direct pay (cash)compensation to be paid and the amount of indirect compensation (non-cash services and benefits)to be provided.

You have offered to your sales associate an all expenses paid trip for two to Australia if she doubles her annual sales volume from last year.What concept are you applying?

Which of the following statements is most accurate regarding the reward strategy?

Explain the difference between "extrinsic" and "intrinsic" rewards. Provide examples for each type of reward.

Compensation specialists are typically responsible for which aspect of the reward system?

Which statement best describes current compensation practices and expectations related to the key criteria for evaluating the success of a compensation system.

There is no single best compensation system that applies to all firms.

Which of the following would be an example of an intrinsic reward?

As a small business owner committed to the total rewards approach to compensation what do you need to establish before you start to develop your compensation system?

What is the goal of an organization's reward and compensation system?

As an employer you want to implement a total rewards approach to compensation. Which of the following practices would not support this concept?

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Components of Compensation Strategy

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: the Job Evaluation Process

Evaluating Jobs: the Point Method of Job Evaluation

Evaluating the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters

Exam 1: A Road Map to Effective Communication

Which of the following statements most accurately describes the optimal reward system?

Explain the ways in which "direct" and "indirect" pay are similar and different to each other.

The main similarity between extrinsic rewards and intrinsic rewards is that they both flow from job content.

A compensation system must be viewed in the context of the total reward system because it is the total pattern of financial and non-financial rewards that motivate employee behaviour.

The compensation system typically refers to which aspect of the reward system?

The main difference between a reward system and a compensation system is that a reward system rewards only good performance while a compensation system provides pay to all employees.

Which of the following statements most accurately describes extrinsic rewards?

Which statement best describes the term "reward strategy"?

As a compensation consultant what is the best advice you can give to a small business owner wanting to develop the optimal reward strategy?

The two key aspects of a compensation strategy are the amount of direct pay (cash)compensation to be paid and the amount of indirect compensation (non-cash services and benefits)to be provided.

You have offered to your sales associate an all expenses paid trip for two to Australia if she doubles her annual sales volume from last year.What concept are you applying?

Which of the following statements is most accurate regarding the reward strategy?

Explain the difference between "extrinsic" and "intrinsic" rewards. Provide examples for each type of reward.

Compensation specialists are typically responsible for which aspect of the reward system?

Which statement best describes current compensation practices and expectations related to the key criteria for evaluating the success of a compensation system.

There is no single best compensation system that applies to all firms.

Which of the following would be an example of an intrinsic reward?

As a small business owner committed to the total rewards approach to compensation what do you need to establish before you start to develop your compensation system?

What is the goal of an organization's reward and compensation system?

As an employer you want to implement a total rewards approach to compensation. Which of the following practices would not support this concept?

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Components of Compensation Strategy

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: the Job Evaluation Process

Evaluating Jobs: the Point Method of Job Evaluation

Evaluating the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters