RE: Introduction

Topics: Pension, Answer, 401(k) Pages: 16 (1410 words) Published: October 29, 2013
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Question 1
1.  
A company which wishes to attract highly skilled employees would tend to follow which pay policy? Answer

Lead
  

Lead/Lag
  

Lag
  

Unweighted means
2 points   
Question 2
1.  
Joe is a mechanic and has a compa-ratio of 0.90.  This means that his pay:

  
2. Answer

Is 10% above the intended pay policy

  
Is 90% of minimum
  

Is 90% of maximum
   

Is 90% of midpoint
2 points   
Question 3
1.  
This occurs when the pay range of a lower level position overlaps a higher level position too much   
2. Answer

Fruit basket upset
  

Regression
  

A lag pay policy
  

Compression
2 points   
Question 4
1.  
The organization's pay relative to its competitors:

  
2. Answer

Broadbanding
  

Internal equity
  

External competitiveness
  

Regession
2 points   
Question 5
1.  
In determining internal job structure, what is the correct order for the process?

  
2. Answer

Job analysis, job evaluation, job descriptions, job structure    

Job analysis, job descriptions, job evaluation, job structure   

Job descriptions, job analysis, job structure, job evaluation   

Job descriptions, job analysis, job evaluation, job structure 2 points   
Question 6
1.  
According to the efficiency wage theory:
  
2. Answer

Efficiency increases by hiring better employees
  

Efficiency is affected by the law of diminishing returns
  

Efficiency is the net result of of the advantages and disadvantages of compensating differentials   

Signals that employers deliberately design pay levels and mix as part of the strategy that signals the kinds of pay that are sought 2 points   
Question 7
1.  
"Pay directs and motivates employee performance" describes the Expectancy Motivation Theory?

  
2. Answer True  False
2 points   
Question 8
1.  
Discuss the compensation choices that organizations consider to retain, obtain or discontinue to help ensure they remain competitive with other organizations/businesses. Answer

Path:body

5 points   
Question 9
1.  
Which employee would find the following mix of investment funds most appealing? 90% equities; 5% bonds; 5% cash

  
  
2. Answer

Employee who will retire in less than five years
  

Employee who is ready to retire
  

Employee who is 10 years from retirement
   

Employee who is 20 years from retirement
2 points   
Question 10
1.  
Identify the four kinds of employee behaviors that can assist an organization in achieving its strategic objectives. Answer

Path:body

5 points   
Question 11
1.  
Identify the primary reasons for the growth in employee benefits. Answer

Path:body

5 points   
Question 12
1.  
Explain how management of the pay system affects the pay objectives. Answer

Path:body

5 points   
Question 13
1.  
It is probable that an employee who is 60 years old and wants to retire in a couple of years would be more favorable to which type of benefit?

2. Answer

Defined benefit retirement plan
  

Defined contribution retirement plan
  

401k
  

Concierge services
2 points   
Question 14
1.  
Identify the two characteristics that distinguish special groups. Answer

Path:body

5 points   
Question 15
1.  
If travel and training are accomplished in one day, what hours are compensable?

   
2. Answer

The training hours only
   

Travel and training hours which coincide with the normal work schedule   

The commute time only

All hours spent traveling and in training
  
2 points   
Question 16
1.  
Explain why internal alignment is an important pay...

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