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Q:
Which of the following represents the horizontal dimension of pay structures?
A) pay ranges
B) pay grades
C) job evaluation points
D) pay spreads
Q:
When ________ spreads are used to develop pay grade widths, the grades are based on a set number of job evaluation points for each grade that increases as an employee moves up the pay structure.
A) pay rate
B) percentage-based job evaluation point
C) pay range
D) absolute job evaluation points
Q:
For the purpose of applying pay policies, this term refers to the groupings of jobs based on compensable factors.
A) market lines
B) market-competitive pay structures
C) pay grades
D) pay ranges
Q:
Which of the following represents the relationship between a company's valuation of jobs based on job evaluation and the valuation of jobs within the external market as assessed by compensation surveys?
A) market-competitive pay structure
B) pay grade
C) pay range
D) market pay line
Q:
This federal act requires contractors with federal contracts worth over $2,000 to pay wages at least equal to those prevailing in the area where the work is being done.
A) Fair Labor Standards Act
B) Davis-Bacon Act
C) Equal Pay Act
D) Civil Rights Act of 1964
Q:
Elaborate on the link between a company's pay level policy and its strategic mandate.
Q:
What is an appropriate pay policy mix?
Q:
The market ________ policy most closely follows the typical market pay rates because companies pay according to the market pay line.
Q:
The market ________ policy distinguishes a company from competition by compensating employees less than most competitors.
Q:
Companies pursuing a differentiation strategy are most likely to use which pay level policy?
A) market lead
B) market average
C) market lag
D) market match
Q:
Market lag policies are generally set to which quartile in the salary survey?
A) 1st
B) 2nd
C) 3rd
D) 4th
Q:
Market match policies are generally set to which quartile in the salary survey?
A) 1st
B) 2nd
C) 3rd
D) 4th
Q:
XYZ Inc. pursues a low-cost strategy in its industry and generally needs lower skilled employees. As a result, their management team decided to establish a compensation policy that pays less than the marketplace. In recent years, the company became susceptible to labor shortages and high turnover. Which kind of pay level policy does XYZ Inc. follow?
A) market match
B) market lag
C) market lead
D) market pay line
Q:
The XYZ Company is a world leader in medical device manufacturing. Aiming to continue its market position in this industry, the XYZ Company pursues a differentiation strategy. As a result, this company compensates its employees higher than competitors in order to attract and retain the best employees. What kind of pay level policy does the XYZ Company follow?
A) market match
B) market lag
C) market lead
D) market pay line
Q:
________ analyses enable compensation professionals to establish pay rates for a set of jobs that are consistent with typical pay rates for jobs in the external market.
Q:
Compensation professionals in the XYZ Company use regression analysis to determine the pay rates of its marketing professionals. There are 4 different marketing job titles in the XYZ Company. Compensation professionals use job evaluation points assigned to each marketing job title and a salary survey data. In other words, they regress job evaluation points on the salary data to indicate the amount of variation in market pay rates that can be explained by a company's job structure. Which of the following best describes this amount of variation when the R2value turns out to be 0.85?
A) All of the variation in market pay
B) None of the variation in market pay
C) A large amount of the variation in market pay
D) A small amount of the variation in market pay
Q:
The R2statistic tells us how well the variation in the company's valuation of jobs based on job evaluation points explains the variation in market pay rates from the compensation survey. What does it mean when the R2= 1?
A) All of the variation in market pay can be explained by the company's job structure.
B) None of the variation in market pay can be explained by the company's job structure.
C) All of the variation in market pay can be explained by the company's external pay rates.
D) All of the variation in market pay can be explained by the benchmark rates.
Q:
In the regression analysis formula, what does the X represent?
A) predicted salary
B) job evaluation points
C) the slope
D) the Y intercept
Q:
When using compensation survey data, statistical analyses are used to integrate this with the external market, in order to determine pay rates.
A) internal pay scales
B) nominal pay rates
C) internal pay benchmarks
D) internal job structures
Q:
Explain the three reasons why companies often choose not to develop their own compensation surveys.
Q:
The ________ is the most commonly used method for tracking cost changes throughout the United States.
Q:
________ allow compensation professionals to describe the distribution of data based on four groupings.
Q:
________ represents the amount of spread or dispersion in a set of data.
Q:
The ________ is the middle value in an ordered sequence of numerical data.
Q:
HR professionals rely on ________ jobs as reference points for setting pay levels.
Q:
________ refers to a group of two or more jobs that are based on similar work characteristics, duties, and responsibilities.
Q:
________ represent the fields of potentially qualified candidates for particular jobs.
Q:
The Consumer Price Index represents the average price changes for the price of goods and services in how many regions?
A) 2
B) 4
C) 6
D) 8
Q:
How often is the Consumer Price Index calculated for the United States?
A) daily
B) weekly
C) monthly
D) twice a year
Q:
What does it mean when the distribution of data is skewed to the right?
A) a lower frequency of larger values and the median is greater than the mean
B) a higher frequency of larger values and the median is greater than the mean
C) a lower frequency of larger values and the mean is greater than the median
D) a higher frequency of larger values and the mean is greater than the median
Q:
What does Quartile 3 represent?
A) figures that are above 25%
B) figures that fall below 25%
C) figures that are above 75%
D) figures that fall below 75%
Q:
Jose Escobar conducts a survey of salaries at ERL Enterprises and finds that 50% of the workers fall below the market pay average of $32,000. In which quartile do the workers at ERL Enterprises fall?
A) first
B) second
C) third
D) fourth
Q:
This term refers to the distance of each salary figure from the mean.
A) standard deviation
B) quartile
C) percentile
D) deviated mean
Q:
Suppose that a compensation professional would like to calculate the median salary. He orders four salaries as follows: $20,000, $22,000, $24,000, $26,000. What is the median salary for this data set?
A) $21,000
B) $22,000
C) $23,000
D) $24,000
Q:
Which of the following are the three measures of dispersion?
A) percentile standard, deviation, arithmetic mean
B) standard deviation, quartile, percentile
C) quartile, arithmetic mean, standard deviation
D) arithmetic mean, percentile, quartile
Q:
Which of the following are the two types of central tendency measures that are pertinent to compensation?
A) mode and arithmetic mean
B) median and mode
C) mode and quartile
D) arithmetic mean and median
Q:
In statistical analysis, which of the following is used to signify extreme observations?
A) deviations
B) extremities
C) outliers
D) variants
Q:
If the means salary for B42DA, Inc., is $30,000 and the median salary is $32,000, what would Yolanda's salary of $165,000 be considered?
A) overlie
B) outsider
C) outlier
D) over layer
Q:
This causes compensation survey data to become obsolete fairly quickly.
A) the lag time between data collection and data usage
B) pay compression
C) changes in the unemployment rate
D) changes in the company's geographic location
Q:
These are used as reference points for setting pay levels.
A) mean pay
B) median pay
C) market-competitive pay
D) benchmark jobs
Q:
Which of the following are reference points against which jobs within the company are judged?
A) benchmark jobs
B) relevant labor markets
C) internal labor markets
D) human resource capabilities
Q:
Which process can companies use to make corrections for differences between their jobs and external benchmark jobs?
A) job evaluation
B) job leveling
C) job analysis
D) compensation surveys
Q:
Identify and describe the four steps for establishing market competitive pay systems.
Q:
Which of the following surveys are tools used by employers to determine the pay levels needed to recruit highly qualified employees?
A) strategic
B) external market
C) compensation
D) internal market
Q:
Compensation professionals integrate the internal job structure with the external market pay rates identified through compensation surveys, and this integration reveals which of the following?
A) pay rates that reflect both the company's and the external market's valuations of jobs
B) changes in wages and salaries over time
C) changes in employee benefits over time
D) changes in labor costs between geographic locations
Q:
Which of the following entails an examination of a company's external market context and internal factors?
A) compensation survey
B) strategic analysis
C) regression analysis
D) compensation plan
Q:
In which type of document do compensation professionals represent the selection and implementation of pay level and pay mix policies over a specified time period, usually one year?
A) compensation plan
B) job structure reports
C) strategic compensation plan
D) pay structure reports
Q:
Compensation surveys are typically focused on which two factors?
A) competitors' promotion and advancement opportunities
B) internal promotion and advancement opportunities
C) competitors' wage and salary practices
D) internal wage and salary practices
Q:
________ is defined as an in-depth examination of the external and internal environmental factors that are likely to have the greatest impact on the future of the company.
A) Market-competitive pay structure
B) Regression analysis
C) Competitive strategy
D) Strategic analysis
Q:
George owns a small public relations firm and customer courtesy is considered to be the most important factor in all of the jobs. Which job-content evaluation approach is George likely to use?
A) alternation ranking
B) simple ranking plans
C) paired comparison
D) classification plans
Q:
Which type of jobs provides reference points to judge against other jobs within a company?
A) standardized jobs
B) high-value jobs
C) benchmark jobs
D) hierarchical jobs
Q:
A human resource manager of a company decides to change the current job-content valuation technique by using a quantitative methodology. He thinks that the old approach fails to balance internal and external considerations while evaluating jobs. Which type of job evaluation technique do you suggest for this HR manager?
A) job-content evaluation
B) market-based evaluation
C) point method
D) simple ranking plan
Q:
Market-based job evaluation uses which approach to collect data to determine prevailing pay rates?
A) behavioral observation
B) interviews
C) self-assessment
D) surveys
Q:
Which of the following is one of the four "universal compensable factors"?
A) cognitive ability
B) personality
C) effort
D) motivation
Q:
Universal compensable factors are derived from which federal Act?
A) Fair Labor Standards Act
B) Civil Rights Act of 1963
C) Equal Pay Act
D) Americans with Disabilities Act
Q:
These are the salient job characteristics that are the general basis for job evaluations and are used to establish relative pay rates.
A) job descriptions
B) compensable factors
C) occupation descriptions
D) ranking plans
Q:
Valid and reliable job evaluations result from which two conditions?
A) consistent results; using multiple collection methods
B) consistent results; data obtained under similar conditions
C) data from multiple sources; using multiple collection methods
D) data from multiple sources; data obtained under similar conditions
Q:
Which of the following two are considered job evaluation techniques?
A) market-based and appeals-based
B) compensable content and job-based
C) market-based and job content
D) compensable content and job content
Q:
Summarize the five main activities of job analysis work.
Q:
________ skills information describes developed capacities that facilitate learning or the more rapid acquisition of knowledge.
Q:
________ describe preferences for work environments and outcomes.
Q:
________ information describes physical and social factors that influence the nature of work.
Q:
According to the EEOC, ________ refers to a present competence to perform an observable behavior.
Q:
A reliable ________ yields consistent results under similar conditions, when multiple analysts reach the same conclusion about the major duties that comprise a position.
Q:
A ________ is a collection of tasks constituting the total work assignment of a single worker.
Q:
In an auto manufacturing company, installing a windshield on the assembly line represents a ________.
Q:
________ are the social context or physical environment where work will be performed.
Q:
Abilities, interests and work styles are elements for which O*NET category?
A) occupation
B) experience
C) worker characteristics
D) worker requirements
Q:
Generalized work activities, organizational context, and work context are requirements under which O*NET category?
A) experience
B) occupation
C) requirements
D) labor market characteristics
Q:
What was the main effect created by the revisions to the ADA regulations passed in 2008?
A) Costs will be contained much more than in the past.
B) There are more hurdles for individuals seeking protection under the ADA to pass through in order to weed out false claims.
C) It is now easier for an individual seeking protection under the ADA to establish a disability within the meaning of the ADA.
D) Companies may no longer perform job analyses to see if they comply with the Americans with Disabilities Act.
Q:
This section concisely summarizes the job with two to four descriptive statements.
A) job summary
B) job duties
C) job titles
D) job preview
Q:
These indicate the name of each job within a company's job structure.
A) job specifications
B) job summaries
C) position headings
D) job titles
Q:
A job analysis method is ________ if it accurately assesses each job's duties.
A) reliable
B) complete
C) valid
D) market-based
Q:
Which source is generally able to provide the most extensive and detailed information about how job duties are performed?
A) job analysts
B) supervisors
C) job incumbents
D) benchmark jobs
Q:
One of the essential skills that software development engineers must have is the proficiency in at least one of the modern computer programming languages, such as Java or C++. This must be indicated in which part of the job analysis description?
A) working conditions
B) job evaluation
C) worker requirement
D) job content
Q:
This is a systematic process for gathering, documenting, and analyzing information in order to describe jobs.
A) job characterization
B) job description
C) job evaluation
D) job analysis
Q:
Explain two possible limitations associated with establishing internally consistent compensation systems.
Q:
Compare and contrast job analysis and job evaluation.
Q:
________ is a descriptive process.
Q:
Who leads the process of analyzing jobs?
A) compensation generalists
B) HR specialists
C) HR generalists
D) compensation specialists