Exam: 412715RR - Compensating Human Resources
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Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. Due to increasing diversity within the workplace, many employers are extending benefits to A. domestic partners.
B. anyone living within the employee's household.
C. independent contractors.
D. extended-family members.
2. 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
3. Three of the following are objectives of the unemployment insurance program. Which is not an objective of the unemployment insurance program?
A. To offset lost income during a labor dispute
B. To offset lost income during involuntary unemployment
C. To provide an incentive for employers to stabilize employment
D. To preserve investments in worker skills by providing income during short-term layoffs
4. 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. Section 401(k) plan
B. Employee stock option plan C. Money purchase plan
D. Gainsharing plan
5. Which of the following is a false statement about the Fair Labor Standards Act? A. The FLSA requires federal contractors to pay prevailing wage rates.
B. The overtime rate under the FLSA is one and a half times the employee's hourly rate, including any bonuses and piece-rate payments.
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.
6. Why are growing numbers of employers opting for defined-contribution plans? A. PGBC makes annual contribution of $33 per participant.
B. Employers are free from the risk of poor performance of the plans.
C. Defined-contribution plans are required by ERISA.
D. They guarantee a specified level of retirement income.
7. Which level of child care is most frequently provided by organizations with 100 or more employees? A. The organization provides vouchers or discounts for employees to use at existing child-care facilities.
B. The organization operates a day-care center at or near the workplace.
C. The organization supplies and helps employees collect information about the cost and quality of available child care.
D. The organization offers no support within this area.
8. The Scanlon plan is a variation of which type of incentive? A. Gainsharing
C. Profit sharing
D. Merit pay
9. 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. pay differentials.
B. rank-and-file adjustments. C. bonuses.
D. green-circle rates.
10. 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. pensioners. B. vested.
11. Three of the following are vesting rights. Which is not a vesting right?
A. A guarantee that the employer won't switch the pension plan from defined-benefit to defined-contribution plan
B. In most cases, a waiting period of no more than five years or a three- to seven-year period, with 20 percent in the third and each year thereafter
C. The right to a pension regardless of whether or not the employee remains with the employer until retirement D. The right to a pension at retirement
12. Chief executives of large U.S. businesses earn over _______ times as much as manufacturing employees in their companies.
A. 20 B. 60 C. 40 D. 10
13. 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. Group more likely using a broad range of performance measures
C. Groups trying to outdo one another in satisfying customers
D. Rewarding the performance of all employees at a facility
14. Which act permits a lower training wage, which employers may pay to workers under the age of 20 for a period of up to 90 days?
A. ADA B. ERISA C. FLSA D. FMLA
15. Pay specifically designed to energize, direct, or control employees' behavior is known as A. incentive pay.
B. indirect pay.
C. empowerment pay.
D. exempt pay.
16. From which source do most retirees receive the largest percentage of their retirement income? A. Social Security
B. Disability insurance
C. Private pensions
D. Earnings from personal assets
17. An employee produces 10 components in an hour and earns $8.00 ($.80 × 10), while an employee who produces 12 components per hour earns $9.60 ($.80 × 12). This arrangement is an example of a _______ plan.
A. straight-piecework B. straight-salary
C. differential-piece-rate D. commission
18. 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. exercise the option, receiving a gain of $5.
C. hold on to the option, hoping the stock price will increase in the future.
D. exercise the option, receiving a gain of $40.
19. By law, what percent of assets must an ESOP invest in its company's stock? A. 100 percent
B. 10 percent
C. 51 percent
D. 80 percent
20. Quality guru W. Edwards Deming advocates the use of A. piecework incentives.
B. merit-pay systems.
C. stock options.
D. group incentives.
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