Question 1

The _____ pay strategy emphasizes external competitiveness and deemphasizes internal alignment.

Accepted Answer

A) job structure 
B) broad banding 
C) reference rate 
D) market pricing 
A) job structure 
B) broad banding 
C) reference rate 
D) market pricing

Question 2

Market pricers emphasize any unique or difficult-to-imitate aspects of an organization's pay structure.

Accepted Answer

A) True 
 B)False

Question 3

Explain the low-high approach in selecting jobs for inclusion in a compensation survey.

Accepted Answer

If an organization is using skill-compet

Question 4

In the regression equation, y = a + bx, job evaluation points are denoted by _____.

Accepted Answer

A) a 
B) b 
C) x 
D) y 
A) a 
B) b 
C) x 
D) y

Question 5

A pay range exists when at least two employees in the same job are paid different rates.

Accepted Answer

A) True 
 B)False

Question 6

Explain the difference between standard deviation and quartiles and percentiles.

Accepted Answer

Standard deviation tells us how tightly

Question 7

What is a survey? What purpose does it serve in terms of compensation?

Accepted Answer

A survey is the systematic process of co

Question 8

For organizations using a skill-competency-based pay system or generic job descriptions, the best approach for pricing jobs is _____.

Accepted Answer

A) benchmark-job approach 
B) low-high approach 
C) survey leveling 
D) benchmark conversion 
A) benchmark-job approach 
B) low-high approach 
C) survey leveling 
D) benchmark conversion

Question 9

Which of the following is often used to set pay ranges?

Accepted Answer

A) Median 
B) Weighted mean 
C) Quartiles and percentiles 
D) Standard deviation 
A) Median 
B) Weighted mean 
C) Quartiles and percentiles 
D) Standard deviation

Question 10

Identifying pay survey participants by company name is considered price fixing under the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 11

Pay ranges:

Accepted Answer

A) are flexible enough to deal with differences in quality but not with the productivity or value of these quality variations. 
B) usually lead to an increase in employee turnover. 
C) reflect the differences in performance or experience that an employer wishes to recognize with pay. 
D) cause employees to believe that their compensation cannot increase in the same job. 
A) are flexible enough to deal with differences in quality but not with the productivity or value of these quality variations. 
B) usually lead to an increase in employee turnover. 
C) reflect the differences in performance or experience that an employer wishes to recognize with pay. 
D) cause employees to believe that their compensation cannot increase in the same job.

Question 12

Which of the following statistical measures shows how similar or dissimilar the market rates are from each other?

Accepted Answer

A) Weighted mean 
B) Mean 
C) Standard deviation 
D) Median 
A) Weighted mean 
B) Mean 
C) Standard deviation 
D) Median

Question 13

In cases where the content of an organization's jobs does not sufficiently match that of the jobs in the salary survey, an effort can be made to quantify the difference via benchmark conversion.

Accepted Answer

A) True 
 B)False

Question 14

Adjustments to forms of pay occur more often than adjustments to overall pay level.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is an example of a company that uses broad banding?

Accepted Answer

A) A company in which there is more lateral movement with no pay adjustment than promotions 
B) A company that has pay guidelines and controls designed right into the pay system 
C) A company that has unlimited total salary budget 
D) A company that pays all its employees the same salary 
A) A company in which there is more lateral movement with no pay adjustment than promotions 
B) A company that has pay guidelines and controls designed right into the pay system 
C) A company that has unlimited total salary budget 
D) A company that pays all its employees the same salary

The _____ pay strategy emphasizes external competitiveness and deemphasizes internal alignment.

Market pricers emphasize any unique or difficult-to-imitate aspects of an organization's pay structure.

Explain the low-high approach in selecting jobs for inclusion in a compensation survey.

In the regression equation, y = a + bx, job evaluation points are denoted by _____.

A pay range exists when at least two employees in the same job are paid different rates.

Explain the difference between standard deviation and quartiles and percentiles.

What is a survey? What purpose does it serve in terms of compensation?

For organizations using a skill-competency-based pay system or generic job descriptions, the best approach for pricing jobs is _____.

Which of the following is often used to set pay ranges?

Identifying pay survey participants by company name is considered price fixing under the Sherman Act.

Pay ranges:

Which of the following statistical measures shows how similar or dissimilar the market rates are from each other?

In cases where the content of an organization's jobs does not sufficiently match that of the jobs in the salary survey, an effort can be made to quantify the difference via benchmark conversion.

Adjustments to forms of pay occur more often than adjustments to overall pay level.

Which of the following is an example of a company that uses broad banding?

Pay-For-Performance: The Evidence

Strategy: The Totality of Decisions

Defining Internal Alignment

R: Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters

Exam 8: Designing Pay Levels, Mix, and Pay

The _____ pay strategy emphasizes external competitiveness and deemphasizes internal alignment.

Market pricers emphasize any unique or difficult-to-imitate aspects of an organization's pay structure.

Explain the low-high approach in selecting jobs for inclusion in a compensation survey.

In the regression equation, y = a + bx, job evaluation points are denoted by _____.

A pay range exists when at least two employees in the same job are paid different rates.

Explain the difference between standard deviation and quartiles and percentiles.

What is a survey? What purpose does it serve in terms of compensation?

For organizations using a skill-competency-based pay system or generic job descriptions, the best approach for pricing jobs is _____.

Which of the following is often used to set pay ranges?

Identifying pay survey participants by company name is considered price fixing under the Sherman Act.

Pay ranges:

Which of the following statistical measures shows how similar or dissimilar the market rates are from each other?

In cases where the content of an organization's jobs does not sufficiently match that of the jobs in the salary survey, an effort can be made to quantify the difference via benchmark conversion.

Adjustments to forms of pay occur more often than adjustments to overall pay level.

Which of the following is an example of a company that uses broad banding?

Pay-For-Performance: The Evidence

Strategy: The Totality of Decisions

Defining Internal Alignment

R: Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters