Compensation Fundamentals

The following must be true in order to view the Total Rewards report: (Select two)

A. An employee matches the criteria specified in the total rewards rule. C. A total rewards template uses the rule.

What are three examples of how compensation eligibility rules can be used?

A. Default compensation plans. B. Eligibility for grade profiles. D. Roll out and remove plans.

Propose Compensation Hire is a subprocess for which three business processes?

A. Hire C. Add Additional Job E. Start International Assignment

Which statement is true? A. Managers can only assign compensation plans for which the employee is eligible. B. Managers can only assign compensation plans which are included in the employee's compensation package, and for which the employee is eligible. C. Managers can assign any compensation plan to any employee in any subordinate organization. D. Managers can assign any compensation plan to any of their direct reports

A. Managers can only assign compensation plans for which the employee is eligible.

The following are used to calculate the severance date and payout: (Select two correct answers.)

A. Severance Matrix C. Severance Package

What is the function of the compensation element?

A. Ties compensation to payroll.

What are the three compensation bases that are Workday delivered?

A. Total Base Pay B. Total Salary & Allowances C. Eligible Earnings Override

A future payment plan does not include the following option:

B. All allowance payments or selected allowance payments.

Which report is used to view survey jobs that match to a job profile?

B. Compensation Survey Jobs and Matches

A unit salary plan:

B. Defines a salary based on a unit of work. For example, you are paid for each bushel of bananas picked.

If you correct a compensation event:

B. Each correction is a standalone change and will not impact events with a later effective date.

True or False? Most compensation business processes use the template-driven UI, which provides additional help text options and domain security for each compensation section.

C. Bonus Plans

During an Employee Compensation Step Progression process, a worker will automatically be progressed to a new pay rate within their assigned grade or grade profile based on:

C. Duration in step and/or an optional progression rule.

Which of the three delivered compensation bases can be loaded using EIB?

C. Eligible Earnings Override

Which of the following are not commonly used compensation eligibility rule criteria?

C. Job Segments

The Propose Compensation Change subprocess can be routed to a support role based on the employee's ____________ or ____________ supervisory organization.

Current or Proposed

The Schedule Automatic Step Progression process can be scheduled to run: A. Once in the Future B. Daily Recurrence C. Weekly Recurrence D. All of the Above

D. All of the Above

Which is a false statement?

D. It is recommended you use compensation eligibility rules, position compensation, requisition compensation, and offer compensation in combination.

True or False? A percentage-based bonus and merit plan can be configured to calculate using any delivered or configured compensation basis.

False

True or False? A severance worksheet can only be created for an employee who hasn't been terminated yet.

False

True or False? Compensation changes are made by initiating a compensation business process, or they can occur automatically when you edit eligibility rules.

False

True or False? If using job requisitions, the request compensation change step is required.

False

True or False? Pay range segments are calculated by Workday and cannot be overridden.

False

True or False? The Request Compensation Change business process is only initiated through the ad hoc task found from the employee's Related Actions.

False

True or False? The Total Rewards report is pulling in compensation targets, but cannot include actuals from payroll.

False

True or False? Workday cannot weight compensation survey results.

False

True or False? You will need to create a salary plan for each country you are tracking in Workday.

False

True or False: As a compensation partner, you can edit grade ranges.

False: As a compensation partner, you can view a grade range when completing a transaction. Typically, compensation administrators edit and maintain compensation grade ranges.

True or False: Compensation eligibility rules are required when creating a compensation plan.

False: The compensation eligibility rule field is not required when creating a compensation plan. such as an allowance plan. Although, it is a best practice to have at least one rule on each plan created.

True or False? The Update Stock Grants task is used to enter information, such as grant price and board approval, for individual stock awards or for a population.

True

True or False? The adjustment process performs two functions; changes a compensation plans target or value and allows you the option of changing the employee-level data.

True

True or False? The one or more elements and/or element groups assigned to a grade define Total Base Pay.

True

True or False? The primary goal of a compensation eligibility rule is to define an eligible population and allow the system to correctly default compensation components during a staffing event

True

True or False? Total Base Pay can include allowance plans.

True

True or False? The Propose Compensation Change business process does not reevaluate eligibility. Current compensation component assignments are retained and can be manually edited.

True

True or False? Most compensation business processes use the template-driven UI, which provides additional help text options and domain security for each compensation section.

True

True or False? On the hourly plan, there is a minimum wage field. This field defines the lowest value that can be entered. Anything below will trigger an error message. Anything equal to or above this value is acceptable.

True

Which statement is correct? A. One-time payment plans are commonly included in compensation packages and have an eligibility rule so they default into an employee's compensation. B. If a one-time payment plan does not have an eligibility rule attached it can be selected for any employee. No restrictions. C. If an eligibility rule is not attached to a one-time payment plan only a compensation partner or administrator can select the plan when awarding a one-time payment

B. If a one-time payment plan does not have an eligibility rule attached it can be selected for any employee. No restrictions.

Rounding rules can be used when creating which of the following compensation plans?

B. Merit Plans C. Bonus Plans D. Stock Plans

How are compensation components grouped to ensure accurate defaulting?

B. Pulled together in a compensation package.

The Gross Up checkbox indicates that:

B. You want Workday to automatically adjust the target so the employee receives the full amount after taxes.

You can control which compensation components a manager can view and modify:

By editing the business process security policy, so managers cannot initiate a compensation change, would work, but the question is making the assumption that managers are involved in a compensation change.

A compensation grade provides a:

Reference when entering a salary.

What domain must be enabled to use Compensation Survey Management?

Set Up: Compensation Surveys and Survey Jobs

True or False? One-time payment plans give you the ability to have payment plan profiles to provide localizations.

True

A stock plan can be created as an amount-, percent-, or Unit plan.

True

True or False? A different Total Rewards template can be used for different employee populations.

True

True or False? All compensation plans, excluding merit and stock plans, must be linked to a compensation element.

True

True or False? Defaulting using compensation eligibility rules only occurs when the employee is eligible for a compensation package and an eligible plan is in the package.

True

True or False? Eligibility is NOT evaluated when a Request Compensation Change business process is initiated.

True

True or False? If an employee is eligible for more than one compensation basis, the highest ranked will be their primary compensation basis.

True

True or False? If an employee is participating in a parallel compensation event at step progression run time, the process does not move them to the next step until the next run after the parallel process completes.

True