Compensation Final Study Guide

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

How many weeks of leave does the FMLA (1993) mandate for all workers at companies that employ 50 or more people?

12 weeks

A benefit plan that allocates as et dollar amount to employees and allows them to select benefits is called__________ plan.

A Flexible benefit or cafeteria benefit plan

In situations where the nature of the tasks is so much uncertain that it may be difficult to specify expected goals, the most appropriate rating format is:

A standar rating scales

If you had repair work done one your car, the shop most likely used_________ to pay the mechanic

A standard hour plan

Paying a dime for every bottle collected and turned to a collection center is an example of:

A straight piecework system

The purpose of equity incentive programs such as restricted stock or stock options is:

Align employee goals with goals of the shereholders

In which of the following jobs is it most appropriate to use behavioral anchored rating scales?

An assembly line job that involves tightening nuts on an engine

One common feature of ALL types of incentive plans is:

An established standard of performance that us used to determine the magnitude of the incentive pay

Total compensation or total rewards typically refers to

Base-pay, incentive pay, and employee benefits

When a job involves very routine, mechanistic task, the most appropriate appraisal format is:

Behavioral Anchored Rating Scales (BARS)

Which of the following is the best appraisal format in terms of legal defensibility?

Behavioral Anchored Rating Scales (BARS)

Which of the following ratings formats has the lower rating errors?

Behavioral Anchored Rating Scales (BARS)

Which of the following groups can qualify for the exemptions under the Fair Labor Standards Act of 1938?

Computer Employees

Which of the following is a measure of changes in prices of goods and services in the product and service markets over time?

Consumer price index

In which of the following types of cases is the focus on the discriminatory consequences rather than the intent to discriminate?

Disparate Impact

The amount of fairness, in this case amount of pay, given to employees refers to:

Distributive justice

Evaluating pay programs is important; which one is not an evaluation perspective

Employee perceptions, understanding and behavior SWAT analysis Financial and operational impact Administrative reliability and efficiency

__________, a software package, allows workers to make health-care choices, allocate savings to 401(k)s or other savings vehicles, and access vacation schedules.

Employee self-service

Experts attribute the stabilization in the dollar cost of worker's comp since 2010 to:

Employer safety programs

In the majority of states, unemployment insurance is financed exclusively by:

Employers that pay federal and state unemployment insurance

Which of the following is a factor to control in order to manage labor costs in a simple labor cost model?

Employment

_____________ is a variable pay plan where payout depends not on company level performance such as labor cost saving, but rather on performance at some subunit; plant or facility

Gain sharing or scanlon plan

Which Statement is true for tipped employees according to the Fair Labor Standards Act of 1938?

If an employee tips do not get the employee up to the minimum wage, the employers makes up the difference.

Is it illegal to pay women less than men if:

If their jobs are different If their pay difference is based on gender if their pay difference is upon performance All of the above are legal reasons why women can ve paid less than men

Which of the following is a negative outcome of the management by objectives method?

Increase in performance pressure and stress

The determination of pay discrimination on jobs of dissimilar content requires a standard that allows jobs of dissimilar content to be declared comparable and that allows pay differences for jobs that are not comparable. This standard is

Job Evaluation

In the context of the performance evaluation process, which of the following ensures that raters are motivated to rate accurately?

Making sure that managers are graded on how well they utilize and develop Human Resources

The most common form out outcome based appraisal is:

Management by objectives

Which of the following is a reward that recognizes outstanding past performance?

Marit Pay

Susan Works for a landscaping company. Is her employer required to pay her for travel?

Only when she travels between jobs during the workday

The ______________ provides an alternative to employer provided healthcare insurance

Patient Protection and Affordable Care Act

Which of the following is a disadvantage of gain- sharing plans?

Payouts can occur even if a company's financial performance is poor

Various studies have found that only two specific benefits curtailed employee turnover, namely____________ and ______________.

Pensions; medical coverage

A major criticism of standard rating scales is that

Raters have different definitions of scales levels

A major advantage of a ________ is that it reduces benefits costs, something that the other cost-cutting options ordinarily do not achieve.

Reduction in force

Which of the following motivational theories states that performance based payments work best when they closely follow performance?

Reinforcement Theory

A compa-ratio reflects the

Relationship of the average actual salary in each ranch to the midpoint of the range

A survey shows that most employers are responding to increased benefits cost by

Requiring employees to pay higher deductibles and copays

Jennifer is hurt at work while driving a forklift. Her employer claims that she was injured as a result of her careless driving and its therefore not eligible for worker's comp. What will be the outcome of the employer's challenge to her worker's compensation claim?

She will likely receive worker's compensation benefits

Which of the following benefits is a federally administered program desinged to help workers when they retire?

Social Security

_________ have indirect pay performance links and require employees to put up money to exercise grants

Stock options plans

Which of the following is a test that must be met to qualify for the administrative exemption?

The employee must be compensated on salary basis at a rate not less than $455 per week.

Deming's major argument regarding performance appraisals is that:

The work situation is the major determinant of performance

Why don't employees share pay information with employees?

These are all good reasons for not sharing pay information with employees

Which of the following is an advantage of team incentives?

They are effective in stimulating ideas and problem solving.

Which of the following is a feature of defined contribution plans?

They are faster to vest than defined benefit plans

Which of the following statements is true of individual spot awards?

They are given to employees for exceptional performance as an add on bonus

Which of the following statements is true of merit bonuses?

They are viewed as less of an entitlement than merit pay

Which of the following is an advantage of gain sharing plans?

They increase employee's knowledge of business

Which of the following is an advantage of flexible benefit plan?

They increase the involvement of employees in choosing benefit plans

Changes in wages in labor markets are measured

Through pay surveys

Which of the following is an objective of the unemployment insurance program?

To provide an incentive for employers to stabilize employement

When employees are paid more than the maximum of their pay grade, these rates are called?

Bonuses and profit sharing

_______________ has produced more comparable worth pay increases than any other approach

Collective Bargaining

_________, designed for employees or managers, explain compensation policies and practices, answer frequently asked questions, and explain how these systems affect their pay.

Communication portals

Under the_______, employers must pay men and women equally for the same work.

Equal Pay Act

According to__________ theory, relative pay is important as employees evaluate the adequacy of their pay via comparisons with other employees

Equity Theory

The_______ theory of motivation states that employee motivation is the product on instrumentality and valence

Expectancy Theory

In the context of evaluation formats, which of the following is true of the alternation ranking method?

It recognizes that raters are better at ranking people at extreme ends of a distribution

Jacob, and 18 year old, has been working at HoldVille Corp. for a year. If HoldVille offers full vesting after one year, which of the following statements is true?

Jacob is NOT eligible for pensions as he is nit over 21

Who among the following has violated the FLSA of 1938?

Jeremy, who employs his 16 year old cousin in his meat packing plant

Survey show that the most highly valued employee benefit is:

Medical Insurance

The Equal Pay Act requires

Men and women to be paid the same for the same job

Which of the following includes a provision that requires public companies to set policies to allow executive compensation to be taken back if it was based on inaccurate financial statements that did not comply with accounting standards?

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Which of the following statements is true regarding rater training?

Training to reduce halo error and improve accuracy has been most successful

The __________ recognizes the fact that when people leave an organization, they typically are replaced by employees who earn a lower wage.

Turnover effect

An exempt employee (from the FLSA) must be paid

When they go to a dental appointment during the workday

Which of the following benefits is NOT mandated by either the state of federal government?

Work/life balance

Which of the following statements is true of merit pay?

Merit Pay programs are commonly designed to pay different amounts depending on the level of performance

What factors changes are transforming the workplace?

Technology Globalization Workforce demographics All of these factors are transforming the workplace

Regarding pay differences for different jobs

Courts continue to uphold the use of market data to justify differences

Replacing merit grids with __________ eliminates the link between the pay increase and the employees' salary position in the range and performance rating.

Bonuses


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