HRM 531 Week 2 Knowledge Check

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HRM 531 Week 2 Knowledge Check
HRM 531 Week 2 Knowledge Check
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Year: 2015
  • 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