- Description
HRM 531 Week 2 Knowledge Check
The material presented below is not meant to be a comprehensive list of all you need to know in the content area. Rather it is a starting point for building your knowledge and skills. Additional study materials are recommended in each area below to help you master the material.
Personalized Study Guide Results:
Score: 21 / 21
Concepts Mastery Questions
Components and Objectives of Organizational Reward Systems 100% • 1
- 2• 3
Determinants of Pay Structure and Level 100% • 4
- 5• 6
Policy Issues in Pay Planning and Administration 100% • 7
- 8• 9
Organization-wide Incentives 100% • 10
- 11
- 12
Strategic Considerations in the Design of Benefit Programs 100% • 13
- 14
- 15
Components of the Benefits Package 100% • 16
- 17
- 18
Cost-Containment Strategies for Benefits 100% • 19
- 20
- 21
Concept: Components and Objectives of Organizational Reward Systems
Mastery : 100% Questions : • 1
- 2• 3
Materials on the concept:
- Components and Objectives of Organizational Reward Systems
1.
At a comprehensive point of view, a(n) _____ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions.
- A.
competency-based pay system
- B.
employee stock ownership plan
- C.
organizational reward system
- D.
merit-pay method
2.
___________ bridge the gap between organizational objectives and individual expectations and aspirations.
- A.
Financial systems
- B.
Corporate compensation systems
- C.
Employment practices
- D.
Rewards
3.
Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow the equity norm and to use it as a basis for distributing rewards.
- A.
equity theory
- B.
the external labor market
- C.
organizational needs
- D.
the internal labor market
Concept: Determinants of Pay Structure and Level
Mastery : 100% Questions : • 4
- 5• 6
Materials on the concept:
- Determinants of Pay Structure and Level
4.
In labor economics, __________________ theory holds that unless an employee can produce a value equal to the value received in wages, it will not be worthwhile to hire that worker.
- A.
the marginal productivity
- B.
the percent of company offerings
- C.
the willingness to reduce the size of the workforce
- D.
the concern with pay for position
5.
Which of the following laws established the first national minimum wage?
- A.
Davis–Bacon Act (1931)
- B.
Fair Labor Standards Act (1938)
- C.
Walsh–Healey Act (1936)
- D.
McNamara–O’Hara Service Contract Act (1965)
6.
The Sarbanes–Oxley Act of 2002 requires that
- A.
companies can seek repayment for incentives paid that were later found to be materially inaccurate
- B.
the Securities and Exchange Commission meet annually to discuss bonuses
- C.
the minimum wage change each year
- D.
executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company
Concept: Policy Issues in Pay Planning and Administration
Mastery : 100% Questions : • 7
- 8• 9
Materials on the concept:
- Alternatives to Pay Systems Based on Job Evaluation
- Policy Issues in Pay Planning And Administration
7.
In the United States, salary discussions among employees are protected under
- A.
the Equal Pay Act (1963)
- B.
the National Labor Relations Act (1935)
- C.
Salary.com
- D.
the Fair Labor Standards Act (1938)
8.
Open pay systems tend to work best when
- A.
there is a union to negotiate pay increases
- B.
business strategy matches the organizational development stage
- C.
job performance can be measured objectively
- D.
effort and performance are related closely over a long time span
9.
Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is
- A.
pay secrecy
- B.
pay compression
- C.
pay security
- D.
pay inequality
Concept: Organization-wide Incentives
Mastery : 100% Questions : • 10
- 11
- 12
Materials on the concept:
- Organizationwide Incentives
- Team Incentives
10.
Gain sharing plans consist of all EXCEPT which of the following elements:
- A.
An internal equity
- B.
A philosophy of cooperation
- C.
A financial bonus
- D.
An involvement system
11.
Which of the following is NOT another name for gain sharing?
- A.
The Scanlon plan
- B.
The Rucker plan
- C.
Control-based compensation
- D.
Improshare
12.
One downside of team incentives is that
- A.
managers do not feel that incentives motivate employees equally
- B.
it does not provide retirement income to employees
- C.
most employees do not feel that their jobs have a direct impact on profits
- D.
it does nothing to educate employees about the factors of business success and capitalism
Concept: Strategic Considerations in the Design of Benefit Programs
Mastery : 100% Questions : • 13
- 14
- 15
Materials on the concept:
- Long-Term Strategic Business Plans
- Strategic Considerations in the Design of Benefits Programs
13.
One strategic issue that should influence the design of benefits is an organization’s
- A.
plan to pay panel
- B.
value to employees
- C.
shareholder’s form
- D.
stage of development
14.
Evidence indicates that the perceived value of benefits rises when employers introduce
- A.
higher salaries
- B.
more jobs
- C.
flexible supervisors
- D.
choice through a flexible benefits package
15.
Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?
- A.
COBRA (1985)
- B.
HIPAA (1996)
- C.
ERISA (1974)
- D.
ADA (1990)
Concept: Components of the Benefits Package
Mastery : 100% Questions : • 16
- 17
- 18
Materials on the concept:
- Workers’ Compensation
- Disability Insurance
- Components of the Benefits Package
16.
______________cover 128 million workers in the United States.
- A.
Workers’ compensation programs
- B.
Defined-benefit programs
- C.
Defined-contribution programs
- D.
Point-of-service programs
17.
________________ provides a supplemental, one-time payment when death is accidental, and it provides a range of benefits when employees become disabled—that is, when they cannot perform the main functions of their occupations.
- A.
A preferred provider payment
- B.
Medical underwriting
- C.
Disability coverage
- D.
A point-of-service plan
18.
The type of private pension plan in which an employer promises to pay a retiree a stated pension is a
- A.
defined-benefit plan
- B.
defined-performance plan
- C.
defined-retirement plan
- D.
defined-contribution plan
Concept: Cost-Containment Strategies for Benefits
Mastery : 100% Questions : • 19
- 20
- 21
Materials on the concept:
- Cost-Containment Strategies
- Severance Pay
19.
What is driving the increasing costs of healthcare?
- A.
Passage of the health care exchanges
- B.
Aging population and an increase in obesity
- C.
Increasing numbers of legal immigrants
- D.
Rising cost of childcare
20.
The gatekeeper in a managed care health insurance plan is the
- A.
primary care physician
- B.
insurance cost monitor
- C.
the employee
- D.
the HR representative
21.
__________ is not legally required, and, because of unemployment compensation, many firms do not offer it.
- A.
Retirement pay
- B.
Short-term disability
- C.
Severance pay
- D.
Cost shifting