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QUESTION 4
As experience with competencies has grown, organizations are placing
QUESTION 4
As experience with competencies has grown, organizations are placing greater emphasis on business related descriptions of behaviors. True False
1 points QUESTION 5
Leadership, customer orientation, and functional expertise are examples of which group of competencies?Personal characteristics
Organization specific
Visionary
Team dynamics
1 points QUESTION 6
In the point method, the second step in designing a plan is to:scale the factors.
prepare a job evaluation manual.
determine the compensable factors.
conduct job analysis.
1 points QUESTION 7
One way to measure the validity of job evaluation is through_______ – the degree to which the job evaluation plan matches an agreed-upon pay structure for benchmark jobs.depth
hit rates
tacit work
skill blocks
1 points QUESTION 8
Which of the following is often used to set pay ranges?Weighted mean
Quartiles and percentiles
Median
Standard deviation
1 points QUESTION 9
A study of 400 compensation specialists revelad that:current pay data had a larger effect on pay decisions than market data
job evaluation data had a larger effect on pay decisions than market data.
job titles had a larger effect on pay decisions than job evaluation data.
market data had a substantially larger effect on pay decisions than job evaluation data.
1 points QUESTION 10
________ are the observable behaviors that indicate the level of competency within each competency set.Core competencies
Behavior scale points
Competency indicators
Competency generators.
1 points QUESTION 11
Which of the following reasons makes competencies a risky foundation for a pay system?Vagueness and subjectivity
Openness and nonquantifiable nature
The number of stakeholders and the lack of a global standard
Lack of motivation and objectivity
1 points QUESTION 12
MXB, Incorporated is a carwash service provider. It orders the jobs in the company on the basis of the least important job to the most important job. In this case, MXB is most likely using the:paired-comparison method
alternation-ranking method
classification method
point method
1 points QUESTION 13
Evidence shows that in manufacturing, _______ is positively correlated with hourly wage level.total cost
turnover
productivity
a job description
1 points QUESTION 14
Which of the following is a disadvantage of the ranking method of job evaluation?It is initially more expensive than other job evaluation methods.
It is difficult to explain to employees.
It fails to tell employees what is important about their jobs.
It consumes more time than other job evaluation methods. 1 points QUESTION 15
Which of the following statistical measures shows how similar or dissimilar the market rates are from each other?Median
Standard deviation
Weighted mean
Mean
1 points QUESTION 16
By encouraging employees to take charge of their own development, skill-based plans may give them more control over their work lives. True False
1 points QUESTION 17
In the context of job evaluation methods, two common ways of ranking are alternation ranking andclassification scaling
paired comparison
policy capturing
1 points QUESTION 18
Employees in a multiskill system earn pay increasesby acquiring new knowledge
by increasing their productivity
based on job assignments
based on job content
1 points QUESTION 19
Each organization operates in a single homogenous labor market True False
1 points QUESTION 20
The final major decision in setting externally competitive pay and designing the corresponding pay structures is to interpret survey results and construct the market line.
select relevant market competitors.
design grades and ranges or bands.
construct a pay policy line that reflects external pay policy.
1 points QUESTION 21
________ minimizes the distortion of the central tendency cause by outliers.Mean
Weighted mean
Median
Mode
1 points QUESTION 22
Which of the following is a job evaluation method that can group a wide range of work together in one system but leave too much room for manipulation?Scaling
Classification
Ranking
Point
1 points QUESTION 23
An employee’s focus in a job-based approach is to acquire skills.
acquire competencies.
seek promotions to earn more pay.
utilize skills efficiently.
1 points QUESTION 24
The first major decision in setting externally competitive pay and designing the corresponding pay structures is toconduct a job evalution.
specify the employer’s competitive pay policy.
construct a pay policy line that reflects external pay policy.
select relevant market competitors
1 points QUESTION 25
In determining the compensation strategy, a major strategic decision is whether to mirror what competitors are paying. True False
1 points QUESTION 26
Who among the following is most likely to be working for ac ompany that uses a competency-based pay plan?Julia, who focuses on getting promoted to get a pay increase
Carlos, who focuses on obtaining certifications in her field to get a pay increase
Juan, a manager who focuses on controlling costs through budgets and work assignmetns
Faiza, a manager who focuses on choosing the employees best suited for job roles
1 points QUESTION 27
In the past, compensation managers handled the appeal review procedures, but increasingly teams of managers and even peers are used. True False
1 points QUESTION 28
Employers continue to hire until the margninal revenue of the last hire equals his or her wage rate. This is based on the first labor market theory assumption that: markets are competitive.
workers are homogeneous and interchangeable.
employers seek to maximize profits.
pay rates reflect all costs of employment.
1 points QUESTION 29
The ____________ pay strategy emphasizes external competitiveness and demphasizes internal alignment.broad banding
reference rate
market pricing
job structure
1 points QUESTION 30
The reliability of job evaluation techniques is measured by:surveying employee attitudes about the evaluation.
determining hit rates.
determining if different evaluators produce the same results.
asking the question “What does the evaluation measure?”
1 points QUESTION 31
___________ is the additional output associated with the employment of one additional human resource unit, with other production factors held constant.Productivy
The marginal product of labor
Incremental productivity.
The marginal revenue of labor
1 points QUESTION 32
Person-based plans have the potential to clarify new standards and behavioral expectations. True False
1 points QUESTION 33
_________measures reveal competitors’ use of performance-based cash payments.Base pay
Total cash
Short-term incentive pay
Long-term incentive pay
1 points QUESTION 34
A job structure based upon job value orders jobs on the basis of the relative contribution of the skills, duties, and responsibilities of each job to the organization’s goals. True False
1 points QUESTION 35
If Company A raises its pay rate by one dollar per hour to hire additional workers and competitors immediately match the increase, what will be the most likely result?Competitors of Company A will lose employees to Company A.
Company A will hire the needed workers at a higher wage rate.
The labor costs for Company A will increase, but it will be unable to hire additional workers.
Company A will hire higher quality workers.
1 points QUESTION 36
A small lawn care company has two mowers and four employees. If it hires another employee and the factors of production remain the same, how ill the productivity of the fifth employee compare to that of the current four employees?There is not enough information to determine productivity.
The productivity will increase.
The productivity will reduce.
The productivity will remain the same.
1 points QUESTION 37
Graduating students usually find themselves in a quoted-labor market. True False
1 points QUESTION 38
Core competencies are often linked to mission statements that express an organization’s philosophy, values, business strategies, and plans. True False
1 points QUESTION 39
Research shows that the weights assigned to compensable factors can affect the resulting pay structure. True False
1 points QUESTION 40
It may be that an employer’s pay level will not gain any competitive advantage; however, the wrong pay level may put the organization at a serious disadvantage. True False
1 points QUESTION 41
Communication and employee involvement are crucial for acceptance of resulting pay structures. True False
1 points QUESTION 42
Which of the following is a characteristic of benchmark jobs?They have unstable pay differentials.
They are unique to specific employers.
Their contents are obscure and change over time.
They employ a reasonable proportion of the workforce.
1 points QUESTION 43
_________is the process of systematically determining the relative worth of jobs to create a job structure for an organization.Job descriptions
Job restructuring
Job evaluation
Job analysis
1 points QUESTION 44
Which of the following is an example of the demand side of labor?The locations of potential employees.
The level of pay appicants will accept.
The pay level offered by an employer.
The qualifications of applicants.
1 points QUESTION 45
In most organizations, the responsibility for managing a pay survey lies withtop management.
the compensation manager.
outside consultants.
The facility or plant manager.
1 points QUESTION 46
Research shows that a lead pay strategy reduces turnover. True False
1 points QUESTION 47
Advocates of competencies say that by focusing on optimum performance rather than average performance competencies can help employees maintain their marketability. True False
1 points QUESTION 48
Skill-based plans establish single flat rates for each skill level regadless of performance or seniority. True False
1 points QUESTION 49
The estimates of competitors’ pay rates will be incorrect and the pay level and pay mix inappropriately established if:employees demand for an increase in wages.
the cost for procuring labor is high.
the marginal revenue generated is low.
markets are incorrectly defined.
1 points QUESTION 50
In cases where the content of an organization’s jobs does not sufficiently match that of the jobs in the salary survey, an effort can be made to quantify the difference via benchmark conversion. True False
1 points QUESTION 51
When building a skill-based plan executive management is the source of information on defining the skills, arranging them into hierarchy, bundling them into skill blocks, and certifying whether a person actually possesses the skills. True False
1 points QUESTION 52
The pay-level policy that is most likely to reduce pay dissatisfaction is a(n)match policy.
employer of choice policy.
lag policy.
lead policy.
1 points QUESTION 53
A market pay linelinks a company’s benchmark jobs with market rates paid by competitors.
compares an organizaiton’s minimum and maximum pay rates for each skill level.
provides an accurate prediction of an organization’s entry level pay rates.
reflects an organization’s pay scale based on the ratings given by its employees.
1 points QUESTION 54
Regression smoothes large amounts of data while minimizing variations. True False
1 points QUESTION 55
Routine work is also termedtacit work.
hygiene work. transactional work.
system work.
1 points QUESTION 56
Which of the following is linked to high pay levels?Higher training time
Reduced vacancy rates
Poorly performing employees
Increased absenteeism
1 points QUESTION 57
For organizations using a skill-competency-based pay system or generic job descriptions, the best approach for pricing jobs isthe benchmark job approach.
The low-high approach.
survey leveling.
benchmark conversion
1 points QUESTION 58
There is far less uniformity in the use of terms in person-based plans than there is in job-based plans. True False
1 points QUESTION 59
The final result of the job analysis-job description-job evaluation process is a hierarchy of work. True False
1 points QUESTION 60
Because employers are raising employee pay at various times during the year, survey data must updated using a process calledmatching.
leading.
aging.
gaining.
1 points QUESTION 61
KayDen Coproration, a small organization with 15 employees, conducts job evaluation using the least expensive method for the first time. In this case, KayDen is most likely to have used the ranking method.
Hay plan.
classification method.
point method.
1 points QUESTION 62
Both pay-level and pay-mix decisions focus on two objectives: 1. control costs and increase revenues and2. attract and retain employees. True False
1 points QUESTION 63
The three factors usually used to determine the relevant labor markets are the occupation, geography, and competitors. True False
1 points QUESTION 64
When designing the survey, three basic types of data are typically collected: information about the organization, information about the total compensation system, and specific pay data on each incumbent in the jobs under study. True False
1 points QUESTION 65
An employer offering lower base pay with high bonuses is likely signal that it is seeking risk-taking employees. True False
1 points QUESTION 66
________are more likley to conduct job evaluations of senior management jobs.Compensation analysts
Compensation managers
Peers
Junior incumbents
1 points QUESTION 67
Human capital theory assumes that people are paid at the value of their marginal product. True False
1 points QUESTION 68
Which of the follwoing is a disadvantage of the point method?It can become bureaucratic and rule-bound.
It does not communicate what is valued.
It does not allow for comparisons.
It can leave too much room for manipulation.
1 points QUESTION 69
The second major decision in setting externally competitive pay and designing the corresponding pay structures is todesign grades and ranges.
specify relevant markets.
define the purpose of the survey.
specify the pay-level policy.
1 points QUESTION 70
The _________ method of job evaluation uses compensable factors.ranking
Position Analysis Questionnaire
point
classification
1 points QUESTION 71
The reliability of a job evaluation can be improved by using evaluators who are familiar with the work and trained in the job evaluation process. True False
1 points QUESTION 72
A pay range exists whenever two or more rates are paid to employees in the same job. True False
1 points QUESTION 73
Which of the following is an example of a company that uses broad banding?A company in which there are more lateral movements with no pay adjustments and few promotions
A company that pays all its employees the same salary
A company that has pay guidelines and controls designed right into the pay system
A company that has an unlimited total salary budget
1 points QUESTION 74
When there is an unusual level of turnover in a job, an employer is likely to conduct a market survey. True False
1 points QUESTION 75
Gramhold, Inc. a pharaceutical company, reduces its ten salary grades to just three broad bands. Which of the following statement is most likely to be true in this case?Gramhold will experience more career moves within bands than career moves between bands.
Gramhold will face difficulty in defining job responsibilities broadly with the new structure.
Gramhold will find that the new structure hinders cross-functional growth.
Gramhold will offer recognition via titles rather than through cross-funtional experience and lateral progression.
1 points QUESTION 76
Which of the following is a difference between ranges and bands?Ranges offer recognition via titles or career progression, whereas bands offer cross-functional experience and lateral progression.
Ranges are used by companies with global operations, whereas bands are used by companies with domestic operations.
Ranges eliminate layers of managerial jobs, wehreas bands emphasize the imporance of several layers of managerial jobs.
Ranges give managers “freedom to manage” pay, whereas bands give managers “freedom with guidelines.”
1 points QUESTION 77
Work-related documentation helps gain acceptance by employees and managers, is easier to understand, and can withstand a variety of challenges to the pay structure. True False
1 points QUESTION 78
_________ is a crucial factor that affects the perception of fairness of a skill-based plan.The number of compensable factors
The design of the certification process
The extent of alignment with an organization’s strategy
the number of weights and factor degrees
1 points QUESTION 79
Among pay-mix alternatives, the percentage of base pay is highest in a performance-driven policy.
work/life balance policy.
security or commitment policy.
market match policy.
1 points QUESTION 80
_________are often linked to mission statements that express an organization’s philosophy, values, business strategies, and plans.Core competencies
Job-based systems
Skill-based systems
Bureaucratic systems
1 points QUESTION 81
A pure market pricing strategy carried to its extreme tends to ignore internal alignment completely. True False
1 points QUESTION 82
__________focuses attention on the competitive positions reflected in the pay relationships among organizations.External competitiveness
Pay satisfaction
Utility theory
Labor demand
1 points QUESTION 83
Which of the following statements is true of pay level?Pay level is directly proportional to labor costs.
The higher the pay level relative to what competitors pay, the lower the relative costs to provide similar products or services.
Pay level is independent of the number of employees in an organization.
Pay level is the same across all organizations for the same job.
1 points QUESTION 84
In the United States, the _______ is a major source of publicly available pay data, and it also calculates the consumer price index.Department of Economics
Bureau of Labor Statistics
Chamber of Commerce
Compensation Association
1 points QUESTION 85
Validity refers to the degree to which an evaluation assesses the relative worth of of jobs to an organization. True False
1 points QUESTION 86
Which of the following statements is true regarding broad bands?They foster cross-functional growth.
They remove limits on total salary budgets.
They support recognition via titles or career progression.
They increase the hierarchical nature of organizations.
1 points QUESTION 87
In the context of internal alignment, which of the following is the correct sequence?Pay structure > Job description > Job evaluation > Job analysis
Job description > Job evaluation > Job structure
Job evaluation > Job description > Job structure
Job description > Pay structure > Job evaluation
1 points QUESTION 88
Competencies are derived from the _________ beliefs about the organization and its strategic intent.competitors’ executive leadership’s
customers’
stakeholders’
1 points QUESTION 89
A major decison in job evaluation is to: figure out how to eliminate the use of mulitple plans.
choose among alternative approaches.
figure out how to eliminate the use of single plans.
choose which stakeholders to eliminate in the process. 1 points QUESTION 90
From an external competitiveness perspective, the range is a control device. True False
1 points QUESTION 91
Generic factors and vague descriptions may be attractive to managers looking for flexibility, but they also reduce control and guidelines which make it more difficult to ensure people are treated fairly. True False
1 points QUESTION 92
Which of the following statements is true of pay ranges?They usually lead to an increase in employee turnover.
They reflect the differences in performance or experience that an employer wishes to recognize with pay.
They cause employees to believe that their compensation cannot increase in the same job.
They are flexible enough to deal with differences in quality but not with the productivity of value or these quality variations. 1 points QUESTION 93
Managers often regard external market data as more objective than internal job evaluation. True False
1 points QUESTION 94
A ________approach controls cots by paying only as much as the work performed is worth, regardless of any greater skills the employee may posses.competency-based
performance-based
skill-based
job-based
1 points QUESTION 95
Pay ranges for top-level management positions are smaller than pay ranges for entry-level managerial positions. True False
1 points QUESTION 96
Which of the following is least likely to be used in establishing skill-based certification methods?On-the-job demonstration
College degree
Peer review
Tests
1 points QUESTION 97
Skill-based plans tend to work best in organizations using a(n)__________strategy.laissez-faire
cost-cutter
innovator
defender
1 points QUESTION 98
The majority of application of skill-based pay have been in:service industries.
education industries.
health-care industries.
manufacturing industries.
1 points QUESTION 99
The leadership of any organization is the best source of information on where the business should be going and how it is going to get there. True False
1 points QUESTION 100
A manager of a company could be a factor affecting the company’s external competitiveness. True False
1 points
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