Compensation & Benefits

Topics: Employment compensation, Executive compensation, Employment Pages: 8 (1892 words) Published: October 26, 2014
Compensation & Benefits
BUS455
Final Exam
This is an open book and open notes exam. You may use whatever materials you feel necessary. I strongly recommend that you refer to the text and Lecture Notes that you read. There are a total of sixty (60) points available on this exam. Multiple Choice

1) Which of the following is least likely to be used as a skill-based certification method? a. tests
b. college degree
c. peer review
d. on-the-job demonstration
2) An inappropriate way to assess the acceptability of a job evaluation plan and its resulting job structure is __________________.
a. examine the number of formal appeals
b. examine the number of requests for reanalysis
c. conduct employee attitude surveys
d. examine the number of job offers not accepted
3) Teaching raters what constitutes good, average and poor performance is ____________ training.
a. performance-standard
b. rater-error
c. performance-dimension
d. Six-Sigma
4) In which form of pay structure do employees earn more as they learn more? a. breadth-focused skill-based
b. depth-focused skill-based
c. job-based
d. both breadth- and depth-focused skill-based
5) Which of the following types of labor would most likely be recruited only locally? a. office and clerical workers
b. scientists
c. managers
d. executives

1

6) All of the following except ________ are benefits under Social Security. a. lump-sum death payments
b. medical expenses for work-related injuries
c. benefits for dependents of retired workers
d. benefits for surviving family members of deceased workers 7) Calculations of pay level include all except _________.
a. value of stock options
b. benefits
c. bonuses
d. health care
8) Which of the following is an advantage when the organization pay policy is to lead? a. Ease of attracting prospective employees.
b. Better-quality employees.
c. Reduced turnover and absenteeism.
d. All of the above.
9) An organization's pay compared to its competitors is __________. a. comparative pay level
b. external competitiveness
c. market equity
d. external equity
10) A pay policy most likely to reduce pay dissatisfaction is ____________. a. lead
b. employer of choice
c. hybrid
d. match
11) There is a growing trend toward linking sales compensation to ____________. a. the organization’s profits
b. the amount of units purchased by customers
c. customer satisfaction measures
d. the price of the organizations stock
12) The primary responsibility for conducting a pay survey is ___________. a. top management
b. the facility or plant manager
c. outside consultants
d. the compensation manager

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13) Competency indicators are
a. observable behaviors indicating level of competency
b. anchor the degree of competency required
c. are similar degrees in the point method
d. All of these
14) Once a pay policy is established, the next step is to ____________. a. design pay grades and ranges
b. analyze competitors' performance
c. compare competitors' pay grades
d. compare competitors' labor costs
15) Employee performance depends on three general factors: Employee performance = f (M, A, E) where:
a. M = Motivation; A = Ability; and E = Education
b. M = Money; A = Attainment; and E = Eagerness
c. M = Motivation; A = Ability; and E = Environment
d. M = Morality; A = Attitude; and E = Education
16) In what type of system are annual goals established and passed down through the organization?
a. Performance standards review
b. Management by objectives
c. Forced distribution
d. Total Quality Management
17) A SHRM survey found that the type of compensation most valued by "top employees" was _______________.
a. profit sharing
b. short-term incentives
c. spot awards
d. annual pay raise
18) Which of the following employee benefits are affected by statutory law: a. workers’ compensation
b. social security
c. unemployment compensation
d. All of the above
19) The trend in pay-for-performance plans is toward...
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