Quiz 1: Strategic Compensation: A Component Of Human Resource Systems

Strategic Compensation

Business
43
Questions
0
True/False
30
Choices
13
Essay
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Questions

Q1
Free

What is the primary factor that will prevent companies from growing in the next decade?

Multiple Choice
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A) increased government regulations
B) the inability to attract and retain employees
C) caps on executive pay in some organizations
D) increased global competition
Answer:
B) the inability to attract and retain employees
Q2
Free

Protection programs are what type of compensation benefits?

Multiple Choice
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A) external
B) non-monetary
C) internal
D) monetary
Answer:
B) non-monetary
Q3
Free

Which of the following would be an example of a non-monetary reward?

Multiple Choice
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A) medical insurance
B) vacations
C) day care assistance
D) all of the above
Answer:
D) all of the above
Q4

This law made it illegal to pay women less for performing equal work as men.

Multiple Choice
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A) Equal Pay Act of 1963
B) Civil Rights Act of 1964
C) Davis — Bacon Act of 1931
D) Fair Labor Standards Act of 1938
Answer:

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Q5

What is the typical annual Cost-of-living adjustments (COLAs) in recent years?

Multiple Choice
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A) 0 to 1 percent
B) 2 to 3 percent
C) 3 to 5 percent
D) 8 to 10 percent
Answer:

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Q6

What type of pay system rewards employees for partially or completely attaining a predetermined work objective?

Multiple Choice
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A) seniority pay
B) merit pay
C) incentive pay
D) skill-based pay
Answer:

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Q7

Jason works at a call center for an insurance company and he has been answering calls regarding auto insurance. Recently, he started to attend a training program about home insurance. Upon successful completion of this training program, Jason will be able to handle home insurance questions and queries as well. If this insurance company has a compensation policy that rewards Jason's completion of this training, then what type of pay system does it employ?

Multiple Choice
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A) incentive pay
B) merit pay
C) seniority pay
D) pay-for-knowledge
Answer:

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Q8

Which of the following is NOT one of the three broad categories that discretionary benefits fall into?

Multiple Choice
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A) worker's compensation laws
B) paid time off
C) protection programs
D) services
Answer:

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Q9

Samuel is a recently hired HR professional working at XYZ Motor Co. His current project involves recording the time it takes assembly workers to complete their tasks. With the help of industrial engineers in the manufacturing plant, the aim of this project is to identify the most effective ways of assembly operations. Which of the following is NOT related to Samuel's project?

Multiple Choice
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A) scientific management practices
B) time-and-motion studies
C) job analysis
D) welfare practices
Answer:

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Q10

These are positive employer gestures that beyond what was required by law, created in part to thwart potential union activity.

Multiple Choice
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A) employee benefit plans
B) welfare practices
C) scientific management practices
D) compensable factors
Answer:

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Q11

A company's ability to sustain market share and profitability for several years running is referred to by what term?

Multiple Choice
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A) differentiation
B) personnel administration
C) compensation practices
D) competitive advantage
Answer:

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Q12

This term suggests that a loss is likely for the firm, and that the individual will be left with little control.

Multiple Choice
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A) reverse opportunity
B) negative equity
C) threat
D) foreclosure
Answer:

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Q13

What strategy describes the use of benefit and compensation packages in order to support both HR and competitive strategies?

Multiple Choice
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A) worker welfare strategies
B) total compensation strategies
C) total quality management strategies
D) worker satisfaction strategies
Answer:

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Q14

Ryanair uses one type of aircraft in its fleet and requires their passengers to carry their luggage to the plane. Ryanair's decisions exemplify which of the following competitive strategies?

Multiple Choice
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A) differentiation strategy
B) high quality strategy
C) brand notoriety
D) lowest-cost strategy
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Q15

A company using this competitive strategy seeks to offer a product or service that is completely unique from other competitors in their market segment.

Multiple Choice
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A) differentiation strategy
B) defender strategy
C) prospector strategy
D) lowest-cost strategy
Answer:

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Q16

Which of these actions would HR seek to encourage in attempting to create a lowest-cost competitive strategy?

Multiple Choice
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A) an employee long-term focus
B) unpredictable employee behavior
C) high concern for the quantity of output
D) high concern for the quality of output
Answer:

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Q17

This group is directly involved in producing goods and delivering services for a company.

Multiple Choice
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A) staff employees
B) line employees
C) managers
D) executives
Answer:

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Q18

These describe the terms of employment that are set between management and union bargaining representatives.

Multiple Choice
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A) employee relationship agreements
B) collective bargaining agreements
C) joint employment agreements
D) workplace requisite agreements
Answer:

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Q19

Sandra's position changed from supervisor at the planning department to supervisor at the new projects department. In terms of career development, which of the following is more applicable to Sandra's situation?

Multiple Choice
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A) maintaining focus with less responsibilities
B) a lateral move across the company's hierarchy
C) moving upward through a company's hierarchy
D) maintaining the focus and assume greater responsibilities
Answer:

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Q20

Which of these is a company sponsored program that provides income to workers throughout their retirement?

Multiple Choice
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A) pension plans
B) severance plans
C) loyalty plans
D) longevity plans
Answer:

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Q21

This is a way in which companies often trim their payroll responsibilities by encouraging higher paid workers with more seniority to voluntarily leave the company earlier than previously planned.

Multiple Choice
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A) resignation plans
B) severance plans
C) early retirement programs
D) employee expenditure plans
Answer:

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Q22

What U.S. federal law established a national minimum wage for employees involved in commerce (rather than just those employed by companies working for the U.S. government), as well as prohibit most employment of minors in oppressive child labor?

Multiple Choice
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A) The Equal Pay Act of 1963
B) The Civil Rights Act of 1964
C) The Fair Labor Standards Act of 1938
D) The Family and Medical Leave Act of 1993
Answer:

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Q23

These ordered sets of jobs make it easy for compensation managers to give a clear relative value for all jobs within a company.

Multiple Choice
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A) externally consistent compensation systems
B) internally consistent compensation systems
C) market-wide consistent compensation systems
D) comparably consistent compensation systems
Answer:

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Q24

What is a systematic process for gathering, documenting, and analyzing information in order to describe jobs?

Multiple Choice
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A) job evaluation
B) internal consistency
C) job analysis
D) strategic analysis
Answer:

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Q25

What do compensation managers use to recognize differences in the relative net worth of jobs and to establish pay differentials based upon management priorities?

Multiple Choice
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A) job evaluation
B) internal consistency
C) job analysis
D) strategic analysis
Answer:

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Q26

These compensation systems go a long way in attracting and retaining the most qualified employees, and are based upon market surveys and compensation surveys.

Multiple Choice
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A) internally consistent compensation systems
B) market-competitive pay systems
C) job evaluation compensation systems
D) externally consistent compensation systems
Answer:

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Q27

This allows business professionals to determine where they currently stand in the market based on both the external market context and internal factors.

Multiple Choice
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A) market analysis
B) comparative analysis
C) 360 degree analysis
D) strategic analysis
Answer:

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Q28

What represents the pay rate differences for jobs and employee contributions of unequal worth to a company?

Multiple Choice
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A) merit pay
B) incentive pay
C) retention pay
D) pay structures
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Q29

These build upon pay grades, and include maximum, minimum, and mid-point pay rates for jobs in particular pay grades.

Multiple Choice
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A) pay ranges
B) pay slopes
C) piece rates
D) pay determinates
Answer:

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Q30

Which of the following are stakeholders within a company?

Multiple Choice
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A) line managers
B) executives
C) unions
D) all of the above
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Q31

________ compensation refers to the mental state of employees as a result of their performance on the job.

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Q32

________ pay systems reward employees with base pay raises according to their length of service on the job.

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Q33

________ decisions are made in order to support the fulfillment of strategic decisions.

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Q34

Strategic management involves distinguishing between ________ and ________ in attempting to achieve company goals, thus making strategic management an inexact process.

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Q35

Competitive ________ is the use of company resources (such as capital, technology, and human resources) to promote and sustain competitive advantage.

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Q36

P&G uses ________ strategy based on brand image and price premium in between its Iams and Eukanuba brands.

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Q37

Human resource professionals are ________ employees, because they exist to provide support services for line employees.

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Q38

Companies that are implementing ________ plans generally increase the amount of classroom and on-the-job training, as these types of plans make training necessary rather than optional.

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Q39

Employment ________ occurs when an employee's agreement to perform work is ended, be it voluntarily or involuntarily.

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Q40

Due to recent economic downturn, XYZ Co. decided to shut down one of its appliance manufacturing plants in the United States and therefore around 300 workers need to be laid off. XYZ Co. will award these laid off workers with 6 months of ________ pay.

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Q41

What is merit pay? Explain the role of performance appraisals in merit pay programs.

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Q42

What is pay-for-knowledge plan? Explain the role of training in pay-for-knowledge plans.

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Q43

What is a constituency? How does it affect the HR department?

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