Exam 9: Managing Compensation

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Which type of legislation is concerned with minimum wage rates and overtime payments?

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What is the scope of the impacts of collective bargaining agreements?

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An advantage of published wage surveys is compatibility with the organization's jobs.

(True/False)
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Granting wage increases solely on the basis of the CPI helps compress pay rates within a pay structure,thereby ensuring equity among those who receive the wage increase.

(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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Wage compression can be avoided by granting wage increases solely on the basis of the CPI.

(True/False)
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Tiffany works as an IT specialist at Nortel.She is compensated based on such skills as programming and service to clients.It is likely that she is paid under which of the following pay plans?

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The employment standards acts set minimum requirements with respect to wages,hours of work,and overtime.

(True/False)
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Which of the following is an example of nonfinancial compensation?

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Broadbanding refers to collapsing many traditional salary grades into a few wide salary bands.

(True/False)
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What's a key objective of wage and salary surveys?

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A point manual can be used to determine the external equity of a job.

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In collective agreements,what are escalator clauses associated with?

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Assume Microsoft wants to link its overall organizational strategy to its wage and benefit policies in the strategic plan.How can the company best do this?

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According to the textbook,which job evaluation method is considered the most valid?

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How would you describe "an increase in real wages"?

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A wage curve represents the relationship between the relative worth of jobs and their wage rates.

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Employees who earn pay for hourly work are referred to as salaried employees.

(True/False)
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Jambrone Foods and CUPE Local 5000 have a collective agreement in place that allows for wages to be paid at more than the minimum wage set by the Employment Standards Act.Which of the following best describes this agreement?

(Multiple Choice)
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Which of the following is NOT a potential outcome of wage-rate compression?

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