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)
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
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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
(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)
(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)
(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)
(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)
(TCO 5) Discuss the importance of Title VII related to compensation, including disparate treatment and disparate impact.(Points : 30)
(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)
(TCO 3) Distinguish between the arithmetic mean, the median, the standard deviation, quartiles, and percentiles. Provide examples of each.(Points : 30)
(TCO 1) Compare and contrast employers’, employees’, and government’s goals in the compensation system. Provide at least three examples.(Points : 30)
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