MGMT 494 Quiz Questions
Most factor scales have _____ degrees.
4-8
Recent surveys show that, on average, an outstanding performer receives a _____ merit increase, an average performer a _____ merit increase, and a poor performer a 0.4% merit increase.
4.4%; 2.8%
TreeWind Inc. is a bookstore that uses skill and responsibility as its compensable factors. It assigns 20 percent weight to responsibility and 80 percent weight to skill. If the responsibility factor scores a 60 after multiplying the subfactors with their corresponding weights, and if the skill factor has two subfactors that are rated as 4 and 5, what is the total weightage given to the job?
420
Which of the following tests of competitive advantage is probably the easiest test to pass?
Alignment test
Which of the following is an example of a relational return?
Employment security
Which of the following statements is NOT true?
Focusing only on one dimension of the pay strategy is a best practice.
Which of the following is a disadvantage of the point method?
It can become bureaucratic and rule-bound.
Which of the following statements is true of a job evaluation plan?
It is developed using benchmark jobs and then applied to nonbenchmark jobs.
In the context of internal alignment, which of the following is the correct sequence?
Job description > Job evaluation > Job structure
In the formula predicting performance, the component most closely related to compensation is _____.
M
Which of the following companies is taking efforts to improve the work/life balance of its employees?
MH Corp. increases the number of paid holidays given to its senior employees.
GreenRain Corp. faces an increase in employee turnover rate. The CEO calls for a board meeting with the senior executives to discuss the issue. Who among the following suggests increasing the relational returns that employees receive to reduce the turnover rate at GreenRain?
Tom suggests increasing the decision-making authorities given to the employees to make work more challenging.
Which of the following is NOT a question to ask for determining if research has value?
Was the research conducted by PhD researchers?
MXB Inc. is a carwash service provider. It orders the jobs in the company on the basis of the least important job to the most important job. In this case, MXB is most likely using a(n):
alternation-ranking method.
Union preferences are a major factor in _____ a total compensation strategy.
assessing
In the context of the point method of job evaluation, _____ are those characteristics in the work that an organization values; that help it pursue its strategy and achieve its objectives.
compensable factors
A compensation system focusing on system control and work specifications is most closely associated with a(n) _____ strategy.
cost-cutter
A difference between incentives and merit increases is that incentives:
do not increase the base wage, whereas merit increases the base wage.
The exchange value of a job is its _____.
external market value
Robert, the CEO of GameTrack Corp., wants to restructure the pay plan without increasing the labor costs in the long run. He is most likely to achieve this, while retaining his top employees, by:
increasing incentive pay and decreasing base pay.
Flexible-generic job descriptions would most likely be used with a(n) _____ strategy.
innovator
One of the reasons why 8 in 10 of the uninsured in the United States are from working families is that _____.
many small employers are much less likely than larger employers to offer health insurance to their employees
The second step of developing a total compensation strategy is to:
map the strategy.
According to the Hudson survey, _____ is the single thing that would make 41 percent of the U.S. workers happier.
more money
In mapping a total compensation strategy, the question of how important compensation is in the overall HR strategy is part of _____.
objectives
Managers seek internal alignment within their organization by:
paying on the basis of similarities among jobs.
When organization performance declines
performance-based pay plans do not pay off.
The _____ method of job evaluation is the most commonly used method in the United States and Europe.
point
The _____ method of job evaluation uses compensable factors.
point
Incentives do not permanently increase labor costs because:
they are one-time payments.