HRM 531 Week 2 Knowledge Check

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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
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