Comp Exam 2

Maximum period an eligible person can collect unemployment benefits for (in most states)

26 weeks

Nina is a high-performing individual who works best alone. Which of the following companies is the most appropriate for her?

A company that uses a hierarchical pay structure to pay its employees based on performance

Which of the following is NOT true of the usage of multiple plans versus single job evaluation plans?

A single universal plan is acceptable to employees if the work covered is highly diverse.

Which of the following is the reason why skill-based pay plans have maximum flexibility?

They pay employees for the highest level of skill they have achieved regardless of the work they perform.

A survey of chief executive officers found that nearly 90% of people believe benefits are very important for attraction and retention

True

All employers with MORE than 20 employees most comply with the Consolidated Omnibus Budget Reconciliation Act

True

Both external and organization factors shape internal pay structures.

True

Employees in a multi-skill system earn pay increases:

by acquiring new knowledge.

________ allows employees who resign or are laid off through no fault of their own to continue receiving health coverage under their employer's plan at a cost borne by the employee.

The Consolidated Omnibus Budget Reconciliation Act (1984)

Vesting refers to the length of time an employee must work for an employer before he or she is entitled to employer payments made into a pension plan.

True

Which of the following benefits is federally administered? a. Workers Comp b. Occupational Safety and Health Act c. Social Security

Social Security

A study of 400 compensation specialists revealed that:

market data had a substantially larger effect on pay decisions than job evaluation data.

The 3 factors used to determine the relevant labor markets:

1. Competitors 2. Occupation 3. Geography

What are the three legally mandated benefits?

1. workers' compensation 2. social security 3. unemployment insurance

How many weeks of leave does the Family Medical Leave Act (1993) mandate for all workers (who meet eligibility criteria) at companies that employ 50 or more people?

12 Weeks

In the content of job analysis, what is the smallest unit of analysis?

A task

Which of the following is NOT a characteristic of a benchmark job?

They have unstable pay differentials.

In the context of the job analysis process, verification often involves the jobholders as well as their supervisors to determine whether the proposed job description is accurate and complete.

True

Pay differences among levels in an organization are called differentials

True

**If a benefit forecast suggests future cost containment may be difficult, the benefit should:

be offered to employees only on a cost-sharing basis

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

employers that pay federal and state unemployment insurance.

The exchange value of a job is its

external market value.

Managers whose employers use ________ plans focus on placing the right people in the right job.

job-based

Studies found that the only two specific benefits that curtailed employee turnover were pensions and medical coverage.

True

The final result of the job analysis-job description-job evaluation process is a hierarchy of work.

True

Traditional job analysis that make distinctions among levels of jobs is known to reinforce rigidity in orgs

True

**_________ are defined benefit plans that look like a defined contribution plan

Cash Balance Plans

Which is NOT a required step in a conventional job analysis procedure?

Classifying jobs into organization structure.

The well-defined jobs at McDonald's and their small differences in pay are an example of a(n) ________ internal pay structure.

Closely tailored/Hierarchical/Layered

In the context of the point method of job evaluation, ________ are job attributes that provide the basis for evaluating the relative growth of jobs inside an organization

Compensable Factors

Organizations in a turbulent and unpredictable environment requiring flexibility in jobs and work processes are likely to be more successful with a(n) ________ internal pay structure.

Delayered, Egalitarian

**_______ are related to greater performance when the work flow depends on group efforts

Egalitarian/Delayered structures

**Experts attribute the stabilization in the dollar cost of workers' compensation since 2010 to:

Employer safety programs

Who among the following is most likely to be working for a company that uses a competency-based pay plan?

Faiza, a manager who focuses on choosing the employees best suited for job roles

All employee benefits provided by employers are taxable.

False

Employees are the sole contributors to their cash balance plans.

False

Pay structure refers to the array of pay rates for different work or skills between competing companies.

False

Retirement plan costs are of no concern to employees as the employer covers all the costs.

False

The number of job evaluation plans required by the employer depends only upon the number of employees in the organization.

False

The reliability and validity of the quantitative methods of job analysis have significantly reduced the importance of human judgment in job analysis.

False

True or False: There is always a one-to-one correspondence between internal job value and pay rates.

False

**"employer of choice" offers employees choices in the pay mix

False, has to do w attracting talent with the company's reputation

A benefit plan that allocates a set dollar amount to employees and allows them to select benefit is called a

Flexible benefit

An employer experiencing high turnover and seeking to reduce pension costs is likely to prefer:

Full vesting after three years

A typical employee can recall ___ percent of the benefits they receive

less than 15

**Which of the following statements is true of employee benefits?

Group insurance has relatively easy qualification standards.

**The ________ is designed to lessen an employer's ability to deny coverage to an employee for a preexisting condition.

HIPPA (Health Insurance Portability and Accountability Act)

Today, job analysis is typically performed by

HR generalists and supervisors

**_______ are related to greater performance when the work flow depends on individual contributors

Hierarchical/Layered structures

________ refers to the education, experience, knowledge, abilities, and skills required to perform work.

Human Capital

Which of the following is true of internal alignment?

It addresses relationships inside an organization.

Which of the following is a disadvantage of the point method?

It can become bureaucratic and rule-bound.

Which of the following is true about a job specification?

It is the list of knowledge, skills, and abilities that are necessary for an individual to have to perform a specific job.

**Which of the following is true of the Affordable Care Act?

It was aimed at expanding health care coverage through an individual mandate to purchase health insurance and an employer mandate to provide qualifying health insurance coverage.

In the context of internal alignment, which of the following is the correct sequence?

Job Analysis > Job description > Job evaluation > Job structure

The systematic process of collecting information that identifies the similarities and differences among jobs is known as:

Job analysis

Which policy may force employers to increase wages of current employees to avoid misalignment?

Lead pay-level policy

The reservation wage means that the pay ______.

Must meet some minimal level

**The _____ is the average of the array of rates inside an organization

Pay-level

**________ decisions focus on 2 objectives: 1. Control costs/Increase revenues 2. Attract/Retain employees

Pay-level and Pay-mix decisions

In the context of cost containment, which of the following best describes the practice of "copay"?

Requiring that employees pay a fixed amount or percentage for coverage

Which of the following benefits is a federally administered program?

Social Security

**Shared choice offers employees choices with pay mix to give 'employee-as-customer' perspective.

True

A disadvantage of flexible benefit programs is that they increase administrative burdens and expenses.

True

A disadvantage of the ranking method is that the criteria on which the jobs are ranked are usually poorly defined.

True

A job structure based upon job value arranges jobs on the basis of the relative contribution of the skills, duties, and responsibilities of each job to the organization's goals.

True

What is the first question that should be asked when determining the amount of retirement income an employer should provide?

What level of retirement compensation would the employer like to set as a target, expressed in relation to preretirement earnings?

If a lag pay-level policy joins with higher future returns, can it increase productivity?

Yes

James says, "I don't trust the way the company determines pay rates in my department." If James feels this way despite being happy with his current salary, he is most likely concerned about:

a. procedural justice

A major decision in job evaluation is to:

choose among alternative approaches

Trumbrella Corp. is a pharmaceutical company. One of its employees reports that he has suffered an on-the-job injury caused by the slippery factory floor that resulted in severe damage to his backbone. When Trumbrella initiates its claims processing, it should first:

determine whether the accident actually happened.

**A ________ plan is a hybrid health plan combining the benefits of a health maintenance organization and a ________.

point-of-service; preferred provider organization

Jane works as a copy editor at TreeTime, Inc. She receives an email from the company's human resources department with a link to a questionnaire that asks her to rate the necessary attributes required for her job. In this scenario, the approach used by TreeTime is characterized as:

quantitative job analysis.

An employee's focus in a job-based approach is to:

seek promotions to earn more pay.

One of the most preferred benefits is

stock plans

Lisa is the owner of Ghostbusters, Inc. When she hires other scientists to help her study paranormal activity, her focus is on hiring individuals with certain credentials or skillsets to join her team. Which of the following pay plans will Lisa most likely be using?

A skill-based plan

Which of the following is a benefit under Social Security?

Lump-sum death payments

DrenchFort Corp. is a small company that pays high wages. As its wages are high, it does not provide any benefits. Recently, it has noticed that its employee turnover has increased, so it decides to provide benefits to retain employees. Which of the following benefits is most likely to reduce turnover?

Medical coverage

Michael was laid off by his company owing to budget cuts. Before being laid off, he earned $1,000 per week. If he has been receiving unemployment insurance benefits for 26 weeks, which of the following statements is true in this scenario?

Michael is no longer eligible for unemployment benefits.

Mike, a job analyst, conducts a job analysis at Great Bread, Inc. George, a first-level supervisor at Great Bread, conducts an initial tour of the work site for Mike. According to the conventional job analysis procedures developed by the U.S. federal government, which of the following steps should Mike perform immediately after the initial tour?

Mike should conduct an interview with George to get an overview of the job and to understand how the major duties fit together.

A _________-based structure orders jobs on the basis of relative contribution of the skills, duties, and responsibilities of each job as related to the organizations' goals. Contrarily, a _________ -based structure links pay to the depth or breadth of the skills, abilities and knowledge that a person acquires that are relevant to the work.

job-based; skills-based