Question: 3. Quality guru W. Edwards Deming advocates the use of A. merit-pay sy

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Question: 3. Quality guru W. Edwards Deming advocates the use of A. merit-pay systems. B. stock options. C. group incentives. D. piecework incentives.

4. The Scanlon plan is a variation of which type of incentive? A. Individual B. Gainsharing C. Profit sharing D. Merit pay

5. From which source do most retirees receive the largest percentage of their retirement income? A. Earnings from personal assets B. Disability insurance C. Private pensions D. Social Security

6. In 2003, a company employee received an option to purchase the company's stock at $45 per share. If the stock is trading at $40 a share in 2005, the employee will most likely A. try changing the price in the original option agreement to improve the stock's performance. B. hold on to the option, hoping the stock price will increase in the future. C. exercise the option, receiving a gain of $40. D. exercise the option, receiving a gain of $5.

7. An employee earns $10 an hour and receives a weekly attendance award of $20. That employee works 50 hours this week and thus earns a total compensation of A. $550.00. B. $577.50. C. $570.00. D. $557.50.

8. On average, out of every dollar spent on compensation, about _______ cents go to benefits. A. 17 B. 45 C. 30 D. 8

9. Employees who have met the enrollment and length-of-service requirements to receive a pension at retirement, regardless of whether they remained with the employer until that time, are said to be A. expatriates. B. pensioners. C. vested. D. retirees.

10. Organizations being squeezed between labor and product markets need to A. change their strategic mission and direction, moving to more attractive industries. B. move their operations overseas. C. move from job-based pay structures to skill-based pay systems, where employees are empowered and jobs are more enriched. D. couple pay policies with creative HR, production, and marketing management to make workers' contributions more valuable and products more profitable.

11. Which of the following is a false statement about key jobs? A. Key jobs are common to many organizations. B. Key jobs are relatively stable in content. C. Key jobs have many incumbents within the organization. D. Key jobs are jobs on which it's possible to obtain market-pay survey data.

12. By law, what percent of assets must an ESOP invest in its company's stock? A. 100 percent B. 10 percent C. 80 percent D. 51 percent

13. Which of the following is a false statement about the Fair Labor Standards Act? A. The overtime rate under the FLSA is one and a half times the employee's hourly rate, including any bonuses and piece-rate payments. B. The FLSA requires federal contractors to pay prevailing wage rates. C. The FLSA permits a subminimum training wage equal to 85 percent of the minimum wage. D. Nonexempt employees are covered by FLSA and include most hourly workers.

14. Three of the following are types of defined-contribution pension plans. Which of the following is not a type of defined-contribution pension plan? A. Employee stock option plan B. Gainsharing plan C. Section 401(k) plan D. Money purchase plan

15. Three of the following are objectives of the unemployment insurance program. Which is not an objective of the unemployment insurance program? A. To provide an incentive for employers to stabilize employment B. To offset lost income during involuntary unemployment C. To offset lost income during a labor dispute D. To preserve investments in worker skills by providing income during short-term layoffs

16. Which of the following is an advantage of group incentives? A. Encouraging team members to compete with each other so they can achieve their goal B. Groups trying to outdo one another in satisfying customers C. Group more likely using a broad range of performance measures D. Rewarding the performance of all employees at a facility

17. If employees conclude that they're underrewarded, they're likely to make up the difference in three of the following ways. Which is not a way in which employees who feel underrewarded are likely to make up the difference? A. Finding a way to reduce their outcomes B. Withdrawing by leaving the organization C. Refusing to cooperate D. Reducing their inputs

18. Which of the following is not an advantage of a balanced scorecard? A. A balanced scorecard balances the disadvantages of one type of incentive pay with the advantages of another type. B. A balanced scorecard allows for a combination of performance measures that are directed toward both the company's longand short-term objectives. C. A balanced scorecard links external pay rates with internal job structures, allowing organizations to gain both internal and external pay equity. End of exam D. Communicating a balanced scorecard helps employees understand the organization's goals and how they might contribute to these goals.

19. Which level of child care is most frequently provided by organizations with 100 or more employees? A. The organization offers no support within this area. B. The organization supplies and helps employees collect information about the cost and quality of available child care. C. The organization operates a day-care center at or near the workplace. D. The organization provides vouchers or discounts for employees to use at existing child-care facilities.

20. An organization is adjusting pay to better match a local labor market in which the cost of living is rising sharply. These adjustments are called A. green-circle rates. B. pay differentials. C. bonuses. D. rank-and-file adjustments. 3. Quality guru W. Edwards Deming advocates the use of A. merit-pay systems. B. stock options. C. group incentives. D. piecework incentives.

Explanation / Answer

Q3) Quality guru W. Edwards Deming advocates the use of C. group incentives

Q4) The Scanlon plan is a variation of B. Gainsharing incentive

Q5) From which source do most retirees receive the largest percentage of their retirement income?

D. Social Security

Q6) n 2003, a company employee received an option to purchase the company's stock at $45 per share. If the stock is trading at $40 a share in 2005, the employee will most likely B. hold on to the option, hoping the stock price will increase in the future.

Q7) An employee earns $10 an hour and receives a weekly attendance award of $20. That employee works 50 hours this week and thus earns a total compensation of C.$570.00.

500+20+10%* (520) = 570 $ approx

Q8) On average, out of every dollar spent on compensation, about C)30 cents go to benefits

Q9) Employees who have met the enrollment and length-of-service requirements to receive a pension at retirement, regardless of whether they remained with the employer until that time, are said to be C)vested.

Q10) Organizations being squeezed between labor and product markets need to D) couple pay policies with creative HR, production, and marketing management to make workers' contributions more valuable and products more profitable.

Q11) Which of the following is a false statement about key jobs?

C) Key jobs have many incumbents within the organization.

Q12)  By law, D) 51 percent of assets must an ESOP invest in its company's stock

Q13) Which of the following is a false statement about the Fair Labor Standards Act?

C) The FLSA permits a subminimum training wage equal to 85 percent of the minimum wage.

Q14) D. Money purchase plan is not a type of defined-contribution pension plan

Q15) C) To offset lost income during a labor dispute is not an objective of the unemployment insurance program

Q16) A. Encouraging team members to compete with each other so they can achieve their goal is an advantage of group incentives

Q17)  A. Finding a way to reduce their outcomes is not a way in which employees who feel underrewarded are likely to make up the difference.

Q18) C. A balanced scorecard links external pay rates with internal job structures, allowing organizations to gain both internal and external pay equity is not an advantage of a balanced scorecard

Q19) B. The organization supplies and helps employees collect information about the cost and quality of available child care. This is the level of child care which is most frequently provided by organizations with 100 or more employees.

Q20) An organization is adjusting pay to better match a local labor market in which the cost of living is rising sharply. These adjustments are called B. pay differentials

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