SAINT HRA562 FINAL EXAM 2017 (A+++++ Answer)

QuestionQuestion 1 (1 point) Question 1 UnsavedWhich term is used to describe the situation where the pay spread between newly hired employees and more qualified job incumbents is small?Question 1 options:Pay structuresRed circle pay ratesPay compressionGreen circle pay ratesSaveQuestion 2 (1 point) Question 2 UnsavedIn March 2011, U.S. companies spent approximately how much per employee for discretionary benefits?Question 2 options:$3,050$15,000$1,200$28,995SaveQuestion 3 (1 point) Question 3 UnsavedHow are compa-ratios calculated?Question 3 options:Dividing the green circle rates mid-point by the normal pay rangeDividing an employee's pay rate by the pay range midpointDividing the employee's pay rate by the market line rateDividing the red circle rates by the normal pay rangeSaveQuestion 4 (1 point) Question 4 UnsavedThis type of commission draw acts as a salary because employees are not obligated to repay the loans if they do not sell enough to cover the amount.Question 4 options:Graduated drawNonrecurring drawNonrecoverable drawSafe drawSaveQuestion 5 (1 point) Question 5 UnsavedWhich of the following are the three measures of dispersion?Question 5 options:Percentile standard, deviation, arithmetic meanArithmetic mean, percentile, quartileStandard deviation, quartile, percentileQuartile, arithmetic mean, standard deviationSaveQuestion 6 (1 point) Question 6 UnsavedThis federal Act requires contractors with federal contracts worth over $2,000 to pay wages at least equal to those prevailing in the area where the work is being done.Question 6 options:Davis-Bacon ActFair Labor Standards ActCivil Rights Act of 1964Equal Pay ActSaveQuestion 7 (1 point) Question 7 UnsavedThis term refers to a group of two or more jobs that are based on similar work characteristics, duties, and responsibilities.Question 7 options:Market pay lineBenchmark jobsQuartilesOccupational classificationSaveQuestion 8 (1 point) Question 8 UnsavedMarket lag policies are generally set to which quartile in the salary survey?Question 8 options:2nd4th1st3rdSaveQuestion 9 (1 point) Question 9 UnsavedThis is a loan from the company to the employee that is carried forward indefinitely until the employee sells enough to repay it.Question 9 options:An interest-free loanA non-recoverable drawA recoverable drawCommission-plus-draw planSaveQuestion 10 (1 point) Question 10 UnsavedThe Consumer Price Index represents the average price changes for the price of goods and services in how many regions?Question 10 options:8642SavePrevious PageNext PageQuestion 11 (1 point) Question 11 UnsavedWhich BLS survey covers the incidence and detailed provisions of selected benefit plans, with the data being presented as a percentage of employees who have access to the benefit plans?Question 11 options:Employer Costs for Employee CompensationNational Compensation SurveyNational Benefit IndexEmployment Cost IndexSaveQuestion 12 (1 point) Question 12 UnsavedIf the company adopts a market lag policy, how will that company's pay range midpoint compare to the market average?Question 12 options:The midpoint will be lower than the market average.There is not enough information to determine the answer.The midpoint will be the same as the market average.The midpoint will be higher than the market average.SaveQuestion 13 (1 point) Question 13 UnsavedWhen these are used to develop pay grade widths, the grades are based on a set number of job evaluation points for each grade that increases as an employee moves up the pay structure.Question 13 options:Pay rate spreadsAbsolute job evaluation points spreadsPercentage-based job evaluation point spreadsPay range spreadsSaveQuestion 14 (1 point) Question 14 UnsavedMarket match policies are generally set to which quartile in the salary survey?Question 14 options:1st3rd4th2ndSaveQuestion 15 (1 point) Question 15 UnsavedThis term refers to the groupings of jobs based on compensable factors, for the purpose of applying pay policies.Question 15 options:Pay gradesMarket-competitive pay structuresPay rangesMarket linesSaveQuestion 16 (1 point) Question 16 UnsavedThese are tools used by employers to determine the pay levels needed to recruit highly qualified employees.Question 16 options:External market surveysCompensation surveysStrategic surveysInternal market surveysSaveQuestion 17 (1 point) Question 17 UnsavedThis type of pay rate applies to an employee who is demoted but is paid more than the maximum rate for the pay grade he is now in.Question 17 options:Green circleMulti-tier payRed circleGraduated paySaveQuestion 18 (1 point) Question 18 UnsavedWhat does it mean when the distribution of data is skewed to the right?Question 18 options:There is a lower frequency of larger values and the median is greater than the mean.There is a higher frequency of larger values and the median is greater than the mean.There is a lower frequency of larger values and the mean is greater than the median.There is a higher frequency of larger values and the mean is greater than the medianSaveQuestion 19 (1 point) Question 19 UnsavedThis theory suggests that an employee must regard his own ratio of merit increase pay to performance as similar to the ratio for other comparably performing people in the company.Question 19 options:Comparable ratio theoryEquality theoryComparable pay theoryEquity theorySaveQuestion 20 (1 point) Question 20 UnsavedJose Escobar conducts a survey of salaries at UB2 Enterprises and finds that 50% of the workers fall below the market pay average of $32,000. In which quartile do the workers at ERL Enterprises fall?Question 20 options:FourthFirstThirdSecondSavePrevious PageNext PageQuestion 21 (1 point) Question 21 UnsavedDiscretionary benefits are generally divided into which three categories?Question 21 options:Intellectual enhancements, health benefits, and servicesHealth benefits, intellectual enhancements, and paid time-offServices, paid time-off, and protection programsPension benefits, protection programs, and health benefitsSaveQuestion 22 (1 point) Question 22 UnsavedWhat specifies the rate at which participants accumulate benefits?Question 22 options:Combination proceduresSarbanes-OxleyBuild-up rulesAccrual rulesSaveQuestion 23 (1 point) Question 23 UnsavedWhich type of contingent worker tends to have specialized skills that are in relatively limited supply in the labor market?Question 23 options:Temporary employeesLeased employeesPart-time employeesIndependent contractorsSaveQuestion 24 (1 point) Question 24 UnsavedMarty's employer has a prescription drug plan that will only make him pay 20% of cost of his prescription, if he goes only to certain pharmacies. What type of prescription drug plan does he have?Question 24 options:Mail order prescription drug planPrescription reimbursement planMedical reimbursement planPrescription card programSaveQuestion 25 (1 point) Question 25 UnsavedWhich of the following is associated with 401(k) plans?Question 25 options:Employees cannot deduct their contributions from taxable income.Employees pay taxes on their contribution.Investment gains are taxed.Employees do not pay taxes on their contributions.SaveQuestion 26 (1 point) Question 26 UnsavedWhat is the term used when a company offers stock to its employees?Question 26 options:Stock grantStock allocationStock dispositionStock optionSaveQuestion 27 (1 point) Question 27 UnsavedWho has the authority to define a "year of service" for pension protection purposes?Question 27 options:The U.S. Department of LaborThe unionThe human resources departmentThe chief executive officerSaveQuestion 28 (1 point) Question 28 UnsavedHow many hours (including all paid time for performing work and paid time off) will Jamal have to work to complete a "year of service"?Question 28 options:100270125185SaveQuestion 29 (1 point) Question 29 UnsavedA short-term incentive plan would most likely be used for which company employee?Question 29 options:A new employee in trainingThe company's CEOA mid-level managerA sanitation workerSaveQuestion 30 (1 point) Question 30 UnsavedWhat is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)?Question 30 options:MichiganAlaskaFloridaCaliforniaSavePrevious PageNext PageQuestion 31 (1 point) Question 31 UnsavedTo be fully insured under OASDI, Simone would have to work at least how long?Question 31 options:5 years10 years12 months24 monthsSaveQuestion 32 (1 point) Question 32 UnsavedThis type of consumer driven health care program allows employees to carry-over the unused funds still in their account.Question 32 options:Health reimbursement accountHealth savings accountFlexible spending accountFlexible savings accountSaveQuestion 33 (1 point) Question 33 UnsavedThe approximate annual cost of employee assistance programs (EAPs) is usually no more than how much?Question 33 options:$60$10$200$100SaveQuestion 34 (1 point) Question 34 UnsavedWhich type of contingent worker would work for a company on a long-term basis, presumably on an indefinite basis?Question 34 options:Temporary employeesLeased employeesPart-time employeesIndependent contractorsSaveQuestion 35 (1 point) Question 35 UnsavedWhat is the only state where employers are not required to fund workers’ compensation programs?Question 35 options:TexasNew YorkMichiganOregonSaveQuestion 36 (1 point) Question 36 UnsavedWhen a telecommuting employee works from a remote extension from the employer's office that includes a clerical staff and a full-time manager, that employee is said to be working at what type of office?Question 36 options:Neighborhood work centerRemote work officeNomadic work centerSatellite work centerSaveQuestion 37 (1 point) Question 37 UnsavedThe safe harbor rule requires that the contingent worker be covered by whosepension plan?Question 37 options:The leasing companyThe client companyThe employee is responsible for his or her own pensionDepends on the contractual arrangement between the leasing company and the employerSaveQuestion 38 (1 point) Question 38 UnsavedIn which state would an employee be eligible for an additional 13 weeks of emergency unemployment insurance (for a total of 33 weeks) under the Unemployment Compensation Act of 2008 due to excessively high state unemployment?Question 38 options:MontanaAlabamaMichiganNorth DakotaSaveQuestion 39 (1 point) Question 39 UnsavedHow many days must temporary and seasonal employees work to meet ERISA requirements to participate in a company's qualified retirement plan?Question 39 options:200100125250SaveQuestion 40 (1 point) Question 40 UnsavedOutplacement assistance programs are best suited for which condition?Question 40 options:Workforce increasesGlobal operationsNew plant openingsMergers and acquisitionsSavePrevious PageNext PageQuestion 41 (1 point) Question 41 UnsavedTo be covered by FLSA overtime and minimum wage provisions, seasonal employees must work for a company that is open how many months in a year?Question 41 options:412117SaveQuestion 42 (1 point) Question 42 UnsavedMost contingent workers were employed as what, in 2005?Question 42 options:Temporary employeesIndependent contractorsOn-call employeesLeased employeesSaveQuestion 43 (1 point) Question 43 UnsavedAs of March 2011, discretionary benefits accounted for as much as what percentage of an employer’s total payroll costs?Question 43 options:50%60%75%30%SaveQuestion 44 (1 point) Question 44 UnsavedA worker considered part-time is working less than how many hours in a week?Question 44 options:25393530SaveQuestion 45 (1 point) Question 45 UnsavedThis term refers to the percentage of the health bill the insured employee is required to pay.Question 45 options:CoinsuranceCo-admissionCo-paymentCo-premiumsSaveQuestion 46 (1 point) Question 46 UnsavedWhich of the following would be considered an act as part of a company’s wellness program?Question 46 options:Offering anti-smoking coursesGiving out cigars to expecting fathersPutting a soda machine in the break roomGiving employees free pizza at lunchSaveQuestion 47 (1 point) Question 47 UnsavedJulio wants to apply for unemployment benefits, how much will he have to have earned, in the last four quarters, to qualify?Question 47 options:$1,000 total$10,000 total$100 total$5,000 totalSaveQuestion 48 (1 point) Question 48 UnsavedMomPop's General Store can avoid paying workers' compensation taxes if it keeps its staff to less than how many employees?Question 48 options:255012100SaveQuestion 49 (1 point) Question 49 UnsavedThe IRS uses the term "highly compensated employees" for what purpose?Question 49 options:Fo determine the necessity of top-heavy provisions in health insurance plansFor non-discrimination rules in employer-sponsored health insurance benefitsTo determine the necessity of top-heavy provisions in qualified retirement plansFor non-discrimination rules in employer-sponsored retirement benefitsSaveQuestion 50 (1 point) Question 50 UnsavedAs of 2011, how much would you have to earn to qualify for one quarter of credit for OASDI coverage?Question 50 options:$920 a month$1,090 a year$625 a month$625 a yearSavePrevious PageNext PageQuestion 51 (1 point) Question 51 UnsavedAccording to the safe harbor rules, leased employees can make-up no more than what percentage of your company's total workforce?Question 51 options:20%10%25%33%SaveQuestion 52 (1 point) Question 52 UnsavedWhich type of contingent worker is most likely to be involved in a job sharing arrangement?Question 52 options:Part-time employeesTemporary employeesIndependent contractorsLeased employeesSaveQuestion 53 (1 point) Question 53 UnsavedThis is the difference between the stock price at the time of purchase and the lower stock price at the time an executive receives the stock option.Question 53 options:Fair market valueCapital gainsDiscounted valueDisposition valueSaveQuestion 54 (1 point) Question 54 UnsavedWhich executive bonus amount varies with the extent to which a pre-established minimum performance level is met?Question 54 options:Target planDiscretionaryPerformance-contingentPredetermined allocationSaveQuestion 55 (1 point) Question 55 UnsavedIn the end, Yolanda beat Tristen and Michel in a series of competitions among top-level managers to become CEO of National LemGlass. Which compensation theory did the company probably use?Question 55 options:CompetitionComparisonAgencyTournamentSaveQuestion 56 (1 point) Question 56 UnsavedThis type of executive bonus is based on a bonus pool that is determined by a fixed-formula that is not determined by the executive's performance.Question 56 options:Predetermined allocationTarget planPerformance-contingentDiscretionarySaveQuestion 57 (1 point) Question 57 UnsavedA golden parachute clause can be triggered by which of the following?Question 57 options:RetirementDisabilityCorporate takeoverResignationSaveQuestion 58 (1 point) Question 58 UnsavedThe SEC requires compensation information on the CEO and how many of the highest paid executives?Question 58 options:27104SaveQuestion 59 (1 point) Question 59 UnsavedWhen he became CEO, Duane was given a stock option that does not require him to exercise his options in order to receive income. Which plan is it?Question 59 options:Golden parachuteStock appreciation rightsRestricted stockDiscount stockSaveQuestion 60 (1 point) Question 60 UnsavedThe IRS considers Sylvia to be a highly compensated employee for Beautiful Pictures, Inc., which means she has at least one of which of the following qualifications in the preceding year?Question 60 options:1% owner in the top paid employee groupMade over $75,000Made over $50,0005% owner in the top paid employee groupSaveQuestion 61 (45 points) Question 61 UnsavedWhat are hardship allowances? What are their features? How does the U.S. Department of State determine the value of these allowances? Your response should be 200-250 words in length.Who are the key players in setting executive compensation? Detail their different roles. Your response should be 200-250 words in length.