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1. (TCO 1) Which pay structures represent companies’ compensation policies that fit with their business objectives? (Points : 5)

Market competitive
Internally consistent
Equitable
Analytical

Question 2.2. (TCO 2) This term is defined as an in-depth examination of the external and internal environmental factors that are likely to have the greatest impact on the future of the company. (Points : 5)

Market-competitive pay structure
Regression analysis
Competitive strategy
Strategic analysis

Question 3.3. (TCO 3) When examining competitors’ compensation offerings, this term is used to describe the percentage of employer compensation costs that are applied to compensation and benefits. (Points : 5)

Range
Grade
Mix
Quartile

Question 4.4. (TCO 4) This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specific profit goal. (Points : 5)

Fluctuating first dollar of profits
Differed first dollar of profits
Graduated first dollar of profits
Fixed first dollar of profits

Question 5.5. (TCO 5) Which of the following laws set prevailing wage rates for companies that provide services to the U.S. government? (Points : 5)

Civil Rights Act of 1991
Equal Pay Act of 1938
Fair Labor Standards Act of 1938
Davis-Bacon Act of 1931

Question 6.6. (TCO 6) This term describes a set of skills necessary to perform a specific job or a group of similar jobs. (Points : 5)

Skill range
Skill grade
Skill block
Skill structure

Question 7.7. (TCO 7) Acme Company pays a portion of company profits to its employees. What kind of companywide incentive plan does Acme Co. offer? (Points : 5)

Employee stock option plan
Deferred profit-sharing plan
Current profit-sharing plan
Employee stock ownership plan

Question 8.8. (TCO 8) Which type of compensation program is based, in part, on the human capital theory? (Points : 5)

Merit pay
Seniority pay
Incentive pay
Skill-based pay

Question 9.9. (TCO 9) This term refers to the percentage of the health bill the insured employee is required to pay. (Points : 5)

Copayment
Copremiums
Coinsurance
Coadmission

Question 10.10. (TCO 10) Which type of stock option does not give executives favorable tax treatment? (Points : 5)

Restricted
Incentive
Nonstatutory
Phantom

Question 11.11. (TCO 9) These represent a series of payments for the life of the participant and beneficiary. (Points : 5)

Collateral payments
Lump sum distributions
Periodic payments
Annuities

Question 12.12. (TCO 3) Which qualitative job evaluation techniques uses neither job analysis nor job descriptions? (Points : 5)

Job content
Rankings
Point method
Market based

 

  1. (TCO 10) Discuss the three main types of bonuses common in executive compensation. Please discuss in detail and provide examples of each type of bonus.(Points : 30)

 

  1. (TCO 8) Compare and contrast the various multi-skill-based pay systems—the stair-step model, the skill blocks model, the job-point accrual method, and the cross-departmental model. Please discuss in detail and provide examples.(Points : 30)

 

  1. (TCO 7) Discuss in detail the factors that compensation professionals use in determining the appropriate compensation mix for salespeople. Provide at least three examples.(Points : 30)

 

  1. (TCO 6) After completing the job analysis, your boss has asked you to conduct a job evaluation of the various positions in the company. Detail the steps you would take in accomplishing this task. Provide an example of a point factor evaluation system with at least two factors.(Points : 30)

 

  1. (TCO 5) Discuss the importance of Title VII related to compensation, including disparate treatment and disparate impact.(Points : 30)
  2. (TCOs 1, 2, 3, and 6) Explain how an incentive pay system, when properly applied, can contribute to companies meeting the goals of lowest cost and differentiation strategies. Provide an example.(Points : 30)

 

 

  1. (TCO 3) Distinguish between the arithmetic mean, the median, the standard deviation, quartiles, and percentiles. Provide examples of each.(Points : 30)
  2. (TCO 1) Compare and contrast employers’, employees’, and government’s goals in the compensation system. Provide at least three examples.(Points : 30)