HRM531 HRM/531 WEEK 2 QUIZ (100 % ANSWER) - 77627

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1. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is pay inequality pay secrecy pay compression pay security 2. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service? ADA (1990) ERISA (1974) HIPAA (1996) COBRA (1985) 3. ___________bridge the gap between organizational objectives and individual expectations and aspirations. Employment practices Corporate compensation systems Rewards Financial systems 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. the percent of company offerings the concern with pay for position the willingness to reduce the size of the workforce the marginal productivity 5. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a defined-benefit plan defined-contribution plan defined-retirement plan defined-performance plan 6. In the United States, salary discussions among employees are protected under the Fair Labor Standards Act (1938) the Equal Pay Act (1963) Salary.com the National Labor Relations Act (1935) 7. One downside of team incentives is that it does nothing to educate employees about the factors of business success and capitalism it does not provide retirement income to employees managers do not feel that incentives motivate employees equally most employees do not feel that their jobs have a direct impact on profits 8. Evidence indicates that the perceived value of benefits rises when employers introduce flexible supervisors higher salaries choice through a flexible benefits package more jobs 9. What is driving the increasing costs of healthcare? Aging population and an increase in obesity Rising cost of childcare Passage of the health care exchanges Increasing numbers of legal immigrants 10. Which of the following laws established the first national minimum wage? Walsh–Healey Act (1936) Fair Labor Standards Act (1938) Davis–Bacon Act (1931) McNamara–O'Hara Service Contract Act (1965) 11. One strategic issue that should influence the design of benefits is an organization’s shareholder’s form plan to pay panel stage of development value to employees 12. The Sarbanes–Oxley Act of 2002 requires that the Securities and Exchange Commission meet annually to discuss bonuses companies can seek repayment for incentives paid that were later found to be materially inaccurate executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company the minimum wage change each year 13. Which of the following is NOT another name for gain sharing? Control-based compensation The Scanlon plan The Rucker plan Improshare 14. 14. 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. organizational reward system employee stock ownership plan competency-based pay system merit-pay method 15. Gain sharing plans consist of all EXCEPT which of the following elements: A financial bonus An internal equity A philosophy of cooperation An involvement system 16. The gatekeeper in a managed care health insurance plan is the insurance cost monitor primary care physician the employee the HR representative 17. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it. Severance pay Short-term disability Retirement pay Cost shifting 18. ______________cover 128 million workers in the United States. Point-of-service programs Defined-contribution programs Defined-benefit programs Workers’ compensation programs 19. Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow a norm of fairness and to use it as a basis for distributing rewards. organizational needs equity theory the internal labor market the external labor market 20. ________________ 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. Medical underwriting Disability coverage A preferred provider payment A point-of-service plan 21. Open pay systems tend to work best when effort and performance are related closely over a long time span job performance can be measured objectively there is a union to negotiate pay increases business strategy matches the organizational development stage
Solution Description

1. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is

pay inequality

pay secrecy

pay compression

pay security

2. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?

ADA (1990)

ERISA (1974)

HIPAA (1996)

COBRA (1985)

3. ___________bridge the gap between organizational objectives and individual expectations and aspirations.

Employment practices 

Corporate compensation systems

Rewards

Financial systems

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.

the percent of company offerings

the concern with pay for position

the willingness to reduce the size of the workforce

the marginal productivity 

5. The type of private pension plan in which an employer promises to pay a retiree a stated

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HRM531_HRM531_Week_2_Quiz_(2121).doc
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