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Q:
The incentive stock option that gives an executive the right to purchase stock is priced higher than the market price.
Q:
Stock awards and stock options, identified as a means for rewarding performance, are well suited for meeting short-run objectives.
Q:
Reliability is defined as the extent to which the measure used to define performance is correlated with some criterion of organizational performance.
Q:
The lowest level recommended for a PFP system is four percent of the base salary in order for the money to be considered significant and for the PFP system to be effective.
Q:
One reason for the failure of PFP systems is that employees do not understand the connection between their performance and changes in pay.
Q:
An important determinant of effective PFP is the incentive being valued relative to other rewards.
Q:
Explain the demerits of the traditional approach to pay.
Q:
What are the different ways in which an organization structures its base salary program?
Q:
List a few criteria's that will help an organization choose the type and the depth of the compensation analysis.
Q:
What are the objectives of an effective compensation system?
Q:
Explain the few ways in which reward systems can influence a companys success (or failure).
Q:
Describe how you would use job evaluation to create internal equity. What are the pros and cons of using different job evaluation systems?
Q:
Define and explain the differences between external and internal equity. What is a basic technique used to ensure each?
Q:
What is comparable worth? How is it different from equal pay as defined by the Equal Pay Act?
Q:
List all the criteria that must be met to qualify for the executive employee exemption.
Q:
A computer consulting company wants to determine the market rate for jobs within the organization. Discuss the steps the company should go through and the relevant factors that should be considered.
Q:
You have a business in south Florida. The minimum wage under the FLSA is $7.50/hour. Florida has set its minimum wage at $8.00/hour. You are required to pay your secretary:
A) Base pay of $7.50 plus benefits
B) Market rate regardless of if it is lower than either minimum standard
C) Base pay of $8.00/hour and minimum of $7.50/hour in medical benefits
D) Premium pay of $7.50/hour
E) Base pay of $8.00/hour
Q:
All of the following are forms of direct compensation except?
A) Base salary
B) Dental benefits
C) Vacation
D) 401K
E) Defined contribution pension
Q:
Reasons why a company could see and increase in the cost of their unemployment insurance include?
A) Aggressively fighting unjustified claims for unemployment
B) Establishing an effective performance management system
C) Ensure that terminations are based on employee misconduct
D) Making a decision to have a mass layoff of 58% of the workforce
E) All of the above
Q:
All of the following are benefit programs that are federally mandated with the exception of:
A) Social Security
B) Vacation
C) Workers compensation
D) Unemployment compensation
E) All of the above, there are no exceptions
Q:
What aspect of pay equity do wage and salary surveys help monitor?
A) Internal equity
B) Internal fairness
C) Individual equity
D) External utility
E) External equity
Q:
Which of the following is not a component of compensation for international assignments?
A) Base salary
B) Foreign service premiums
C) Allowances
D) Benefits
E) Pay for performance
Q:
The __________ program provides for medical expenses and pay in cases where the illness or injury is work related.
A) employee welfare
B) social security
C) workers' compensation insurance
D) unemployment compensation insurance
E) employee services
Q:
Under the __________ program, eligible individuals are covered by a comprehensive program of retirement, survivor, disability, and health benefits.
A) employee welfare
B) social security
C) long-term capital accumulation
D) time-off plans
E) employee services
Q:
The __________ policy requires a pay structure that is based on an internal assessment of job worth.
A) pay equity
B) supplement
C) compensation
D) minimum wage
E) labor
Q:
In order to qualify for the executive employee exemption, the employee must be compensated on a salary basis at a rate not less than __________ per week.
A) $454
B) $545
C) $554
D) $544
E) $455
Q:
You have just been hired into a job and you find that you are being paid at the max of the range for the grade. You hope to have a long career with this company and are hoping for a promotion within the year. Your reaction should be:
A) Glee, because they are showing how much they truly value you.
B) Anxiety, because you have no room for financial growth in this position.
C) Happiness, because you are making more than the guy hired after you.
D) Frustration, because of external equity factors.
E) Start looking for another job because you are being undervalued.
Q:
Which of the following law amended the FLSA to include a prohibition against pay differentials based on gender?
A) Minimum Wage Law of 1938
B) Equal Pay Act (EPA) of 1963
C) Davis-Bacon Act of 1931
D) Walsh-Healey Act of 1936
E) Services Contract Act of 1965
Q:
Which law focuses on three main areas: minimum wage, overtime pay, and child labor rules.
A) Fair Labor Standards Act (FLSA) of 1938
B) Equal Pay Act (EPA) of 1963
C) Davis-Bacon Act of 1931
D) Walsh-Healey Act of 1936
E) Services Contract Act of 1965
Q:
Which of the following law has a provision that workers employed in construction industry must be paid at the prevailing local pay rate when working on government contracts?
A) Fair Labor Standards Act (FLSA) of 1938
B) Equal Pay Act (EPA) of 1963
C) Davis-Bacon Act of 1931
D) Walsh-Healey Act of 1936
E) Services Contract Act of 1965
Q:
__________ means a company's pay practices are similar to the practices of other organizations competing for the same talent.
A) Externally equitable
B) Internally equitable
C) Market pricing
D) Benchmarking
E) Relevant salary market
Q:
Which of the following is true about the point-factor plan?
A) Point-factor plans rank jobs in an organization purely based on a comparison of one against another.
B) The point-factor approach does not break jobs down into component parts and assigns point values for various characteristics.
C) Point-factor plans are inexpensive to design.
D) Point-factor plans tend to have a high level of integrity.
E) Difficult for organization to trace, analyze, and document differences among jobs.
Q:
Know-how, problem solving, and accountability are the three major factors within the Hay plan. Which of the following is a sub factor of know-how?
A) Freedom to act
B) The thinking environment in which problems are solved
C) Interpersonal skills
D) Magnitude
E) The impact of the job on end results
Q:
__________ involves comparing a specific position to the generic descriptors and deciding which level fits best.
A) Job ranking
B) Job analysis
C) Point-factor plans
D) Job classification
E) Job description
Q:
Which of the following are elements of cash compensation?
A) Base pay and pay contingent on performance
B) Legally required programs and discretionary programs
C) Base pay and discretionary programs
D) Discretionary programs and pay contingent on performance
E) base programs and legal contingency
Q:
The defined benefit plans purchase insurance with the __________, which insures pension moneys in the event that the company goes bankrupt.
A) EEOC
B) DC
C) PBGC
D) FLSA
E) COBRA
Q:
Which of the following is an example of job family?
A) Secretary, receptionist, assembler
B) Word processor, receptionist, administrative assistant
C) Scientist, engineer, doctor
D) Lawyer, doctor, engineer
E) Psychologist, teacher, doctor
Q:
Which of the following are three major factors of the Hay plan?
A) Know-how, problem solving, accountability.
B) Problem solving, job rank, accountability.
C) Know-how, interpersonal skills, problem solving.
D) Physical demands, interpersonal skills, working conditions.
E) Education, experience, interpersonal skills.
Q:
The __________ pension plan guarantees a specific payment based on a percentage of pre-retirement income.
A) accumulation
B) defined contribution
C) defined benefit
D) profit sharing
E) 401K
Q:
A loan clerk evaluating his/her pay relative to that of a teller within the company is an example of __________.
A) internal equity
B) external equity
C) pay equity
D) worth equity
E) wage equity
Q:
A group of jobs having the same basic nature of work but requiring different levels of skill, effort, responsibility or working conditions are known as __________.
A) job classification
B) job family
C) job broadbanding
D) job evaluation
E) job hierarchy
Q:
When communicating benefits information to employees it is best to focus on general information that is relevant to all employees rather than focus on individual customized reports that explain the employees coverages and costs.
Q:
Determining a fair rate of pay for expatriates is complicated by issues such as exchange rates fluctuations.
Q:
When considering what level of benefits to provide to an expatriate, tax implications need to be considered.
Q:
Foreign service premiums are provided with the intention to offer an incentive to take an expatriate assignment.
Q:
When considering the compensation package of an expatriate moving to a location where housing costs are substantially lower than the home country, management should consider providing a housing allowance.
Q:
In the tax protection approach, firms withhold taxes based on the home-country tax obligation and pay all taxes in the host country.
Q:
The Consolidated Omnibus Budget Reconciliation Act and the Family and Medical Leave Act both address an employees right to maintain their health care benefits.
Q:
The job title should be the determinative factor when deciding whether jobs are substantially equal.
Q:
FLSAs overtime provisions establish that employers pay workers at least 0.5 times their regular hourly rate for all work in excess of 45 hours in any workweek.
Q:
Where an employee is subject to both the state (or city) and federal minimum wage laws, the employee is entitled to the lower of the two minimum wages.
Q:
The Equal Pay Act (EPA) of 1963 sets minimum wage, overtime pay requirements, and rules governing child labor.
Q:
The use of broadbanding is suited to situation where the compensation system should support team based pay plans.
Q:
Team pay plans are based on the assumption that professional competence increases with training and longevity.
Q:
Broadbanding can increase worker productivity and product quality, while decreasing absenteeism, turnover, and accident rates.
Q:
Broadbanding allows managers to make very precise differentiations in pay through the large number of pay grades.
Q:
Pay rates provide increased flexibility that enables managers to consider particular job-related characteristics of individual employees or job candidates.
Q:
The most common traditional pay structure involves grouping similar jobs into pay grades and assigning a salary range, with a minimum, midpoint, and maximum.
Q:
Salary survey is the principal tool for establishing market pricing approach.
Q:
In a point-factor plan, a jobs relative worth is the sum of the numerical values for each degree within each factor.
Q:
Know-how, problem solving, and accountability are the three major factors within the Hay plan. The impact of the job on end results is one of the sub factors of know-how.
Q:
Uniform allowances and merit increases are examples of fringe compensation.
Q:
Cash compensation is the direct pay provided by employers for work performed.
Q:
Managers should execute a compensation strategy that is in line with the organizations long-term strategy and as a consequence there is no need to consider the firms ability to pay.
Q:
According to equity theory, pay satisfaction is a function of the comparisons of an individuals inputoutcome ratio with his or her perceptions about the inputoutcome ratios of referent others.
Q:
The term pay refers to all forms of financial returns and tangible benefits that employees receive as part of an employment relationship.
Q:
Explain the benefits of a career development system for an organization.
Q:
Describe at least three problems that repatriates face in their companies and suggest how the company might solve the problem.
Q:
Describe several career development programs that are methods for evaluating employees' potential for growth and development within an organization.
Q:
Your organization has decided to develop a career development system and you have been asked to lead this project. What steps would you take to develop such a system?
Q:
You are the manager of an employee who is scheduled to return from an expatriate assignment. In planning for their return you should?
A) Actually, there is no need to plan for their return. The employee will be placed in whatever position is open in the department when they return
B) Place them in a position that is one step below the position that they left in order to become re-acclimated with the organization and department
C) Review the employees level of compensation from their last U.S. based job and plan to place them in a job that is at that level of compensation.
D) Let the employee know that they will be placed in a temporary position when they return, and reviewed over a 9-month period for potential permanent placement
E) Have a discussion with the employee before they return and consider jobs that will utilize the skills they acquired while overseas
Q:
Which of the following is true about career development?
Career development is:
A) a stand alone program, independent of the corporate strategy and other HR activities
B) useful and important at the beginning of an individuals career, but not necessary for mid-level managers or average performers
C) focused primarily on the strengths and weaknesses of the organization, and structured around corporate strategy
D) linked to both organizational and individual performance, and both short and long term goals
E) an exercise that stems from the wish list of the employees promotional aspirations, not actual performance and realistic goals.
Q:
Which of the following is TRUE about entrenched employees?
A) The organization should understand that this is a natural progression in a career and there is nothing to be done except wait it out.
B) Career planning is not a solution to entrenchment. Employees need to have stability and preserve their positions.
C) One method to decrease entrenchment and the negative organizational impact, is to offer severance and portability of benefits to employees
D) Employee who have become entrenched need to continue to focus on their current job and stick with what they do best
E) Managers should focus on their newest employees and not waste resources on employees with long service.
Q:
Your company is reorganizing based on an alignment with the introduction of a new strategy and product offering. You will be prepared to be a part of the new structure if you?
A) Maintain your current skill set and rigidly adhere to your personal definition of your job
B) Keep focused on ensuring that your current job remains relevant through the reorganization
C) Stay true to individual contribution, ensuring that management is aware of the work you do on an individual basis
D) Be careful not to look too far in the future, focus on past lessons and accomplishments
E) Develop self knowledge and remain adaptable and flexible in your skill set, and your definition of career
Q:
Tips for managers to be better coaches include the following EXCEPT:
A) Support the employees learning by asking them about the actions they have taken and how successful they were.
B) Provide positive feedback to employee regarding the career development steps taken by the employee.
C) Outline minimum performance requirements you expect of the employee in their current job.
D) Help employee to work on easiest career goal first.
E) Actively listen to the employee.
Q:
Programs that provide information on an organization's policies, procedures, rules, work requirements, and other sources of information are called __________
A) orientation programs
B) socialization programs
C) executive coaching programs
D) repatriation programs
E) supervisor training programs
Q:
A number of organizational change initiatives can affect an individual's career. These include the following EXCEPT:
A) downsizing
B) competency re-measurement
C) IT innovations
D) work-family balance
E) reorganizations
Q:
Succession planning is primarily the organizations ability to?
A) Plan for specific international assignments for individuals
B) Provide opportunities for employees to understand their strengths and weaknesses
C) Understand future goals and identify a talent pipeline for senior positions
D) Test individuals potential early in their career
E) Train managers as coaches and mentors
Q:
All of the following are benefits of a career development system EXCEPT:
A) evaluation of career tools and practices.
B) realistic staff and development planning.
C) helpful assistance with career decisions.
D) clarification of goals of the organization.
E) enhanced reputation s a people developer.
Q:
Which of the following uses questions and exercises to guide individuals in determining their strengths and weaknesses, job and career opportunities, and necessary steps for achieving their goals?
A) Succession planning
B) Realistic recruitment
C) Career workbooks
D) Skills inventory
E) Career center