Exam 10: Developing Compensation Plans

The compensation for top executives at most firms consists of four components: short-term incentives,long-term incentives,executive benefits and perks,and base pay.

What is the primary disadvantage of traditional grade pay plans?

High-performance work systems typically use competency-based pay because employees ________.

Jorge worked 6 hours of overtime this week but has decided to take time off instead of overtime pay.How many hours will Jorge receive in time off from work?

Which of the following most likely indicates that an employee is a professional under the law?

According to research,what is the LEAST likely factor that determines CEO pay?

What is the benefit of using pay ranges for each pay grade?

What method is used by most employers to price professional jobs?

Which 1931 law allows the secretary of labor to set wage rates for laborers employed by contractors working for the federal government?

The ________ gave employees the right to organize,bargain collectively,and engage in concerted activities for the purpose of collective bargaining.

Internal equity refers to ________.

Which of the following is used to anchor the employer's pay scale?

Which job evaluation method is considered the simplest and least expensive?

Jason is an information systems technician in a town in North Carolina with a population of 100,000.He earns $35,000/year.He recently found out that a nearby town with a similar population pays people in the same position $40,000/year.Jason is concerned with the ________ form of equity.

Which of the following best describes the point method of job evaluation?

External equity refers to ________.

Which job evaluation method is a quantitative technique involving the identification of several compensable factors and the degree to which each of these factors is present in the job?

When splitting each factor into degrees in the process of creating a market-competitive pay plan,the number of degrees should not exceed two or three in most cases.

Mario,an HR specialist,is conducting a job evaluation.Mario ranks different components of the job,including complexity,experience,and education required,and then adds up the points for each component.Mario is most likely using the ________ method of job evaluation.

Which law requires time-and-a-half pay for any hours worked over 40 hours per week involving government contracts amounting to $10,000 or more?