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SAINT HRM562 FINAL EXAM 2016 (A+++ Guarantee)
Question
Question 1.1. What does it mean when the distribution of data is skewed to the right? (Points : 1)
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 median
Question 2.2. These are reference points against which jobs within the company are judged. (Points : 1)
Benchmark jobs
Relevant labor markets
Internal labor markets
Human resource capabilities
Question 3.3. These represent the horizontal dimension of pay structures. (Points : 1)
Pay ranges
Pay grades
Job evaluation points
Pay spreads
Question 4.4. In establishing pay grades, which pay rate is established first? (Points : 1)
Minimum pay rate
Midpoint
Third quartile
Maximum pay rate
Question 5.5. Alejandro Martinez is responsible for setting up the pay structure for his company. He believes that newly hired employees should not be paid as much as established employees. Accordingly, what type of pay structure should Mr. Martinez use? (Points : 1)
Broadbanding
Sales incentives
Two-tiered
Merit pay
Question 6.6. What types of companies are most likely to utilize two-tier wage systems? (Points : 1)
Unionized firms
Sales firms
Public sector companies
Private sector companies
Question 7.7. When examining competitors' compensation offerings this term is used to describe the percentage of employer compensation costs that are applied to compensation and benefits. (Points : 1)
Mix
Quartile
Standard percentile
Nominal dollars
Question 8.8. In the regression analysis formula, what does the X represent? (Points : 1)
Predicted salary
Job evaluation points
The slope
The Y intercept
Question 9.9. This 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. (Points : 1)
Comparable ratio theory
Comparable pay theory
Equality theory
Equity theory
Question 10.10. Which scenario would be appropriate for using a salary-only plan? (Points : 1)
The salesperson is selling high-priced products with long lead times.
The salesperson has substantial influence over sales.
The company is looking to save money due to budget constraints.
The company is looking to create competition among its sales staff.
Question 11.11. This 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. (Points : 1)
Nonrecurring draw
Safe draw
Nonrecoverable draw
Graduated draw
Question 12.12. Which compensation policy best fits with a lowest-cost competitive strategy? (Points : 1)
Market lead policy
Market lag policy
Market match policy
Any of the above would be appropriate
Question 13.13. In the regression analysis formula, what does the b represent? (Points : 1)
Predicted salary
Job evaluation points
The slope
The Y intercept
Question 14.14. Jose 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? (Points : 1)
First
Second
Third
Fourth
Question 15.15. In regression, what does it mean when the R2 = 1? (Points : 1)
All the variation in market pay can be explained by the company's job structure.
None of the variation in market pay can be explained by the company's job structure.
All the variation in market pay can be explained by the company's external pay rates.
All of the variation in market pay can be explained by the benchmark rates.
Question 16.16. With which type of sales commission plan does an employee earn a higher rate of commission for all sales made in a given period if the sales level exceeds a predetermined level? (Points : 1)
Commission-plus-draw plan
Straight commission
Multiple-tiered commission
Graduated commission
Question 17.17. What represents the relationship between a company's valuation of jobs based on job evaluation and the valuation of jobs within the external market, as assessed by compensation surveys? (Points : 1)
Market-competitive pay structure
Pay grade
Pay range
Market pay line
Question 18.18. The NCS provided incidence and extensive data on which two types of compensation benefits? (Points : 1)
Health insurance & retirement
Retirement & stock options
Health insurance & pay
Pay & stock options
Question 19.19. What would Yolanda's salary of $165,000 be considered if the means salary for B42DA, Inc., is $30,000 and the median salary is $32,000? (Points : 1)
Overlie
Outsider
Outlier
Over layer
Question 20.20. How are compa-ratios calculated? (Points : 1)
Dividing the green circle rates mid-point by the normal pay range
Dividing the employee's pay rate by the market line rate
Dividing an employee's pay rate by the pay range midpoint
Dividing the red circle rates by the normal pay range
Question 21.21. Which of the following is a characteristic of integrated paid time off policies? (Points : 1)
Such policies distinguish among reasons for absence
Individuals have to justify reason for taking time off
Holiday, vacation, sick leave, and personal leave are combined
Can lead to increased unscheduled absences
Question 22.22. Discretionary benefits are generally divided into which three categories? (Points : 1)
Health benefits, intellectual enhancements, and paid time-off
Pension benefits, protection programs, and health benefits
Services, paid time-off, and protection programs
Intellectual enhancements, health benefits, and services
Question 23.23. A short-term incentive plan would most likely be used for which company employee? (Points : 1)
A sanitation worker
A new employee in training
A mid-level manager
The company's CEO
Question 24.24. What is the most common type of life insurance policy offered by companies? (Points : 1)
Group life insurance
Term life insurance
Whole life insurance
Universal insurance
Question 25.25. Companies establish retirement plans following which of these three design configurations? (Points : 1)
Defined benefit, defined contribution, hybrid
Qualified benefit, qualified contribution, hybrid
Qualified benefit, nonqualified benefit, hybrid
Funded, unfunded, hybrid
Question 26.26. These rights provide employees with an opportunity to purchase a number of stocks at a designated price within a specified period of time. (Points : 1)
Stock option
Stock grant
Disposition
Exercise of one's grant
Question 27.27. Which of the following NOT a condition manifesting short-term disability? (Points : 1)
Pregnancy
Recovery from surgery
Recovery from illness
Recovery from major injuries
Question 28.28. Which of the following is an example of a welfare practice? (Points : 1)
Overtime pay
Regular wages
Workers' compensation laws
Employee recreational areas
Question 29.29. Which type of contingent worker tends to have specialized skills that are in relatively limited supply in the labor market? (Points : 1)
Part-time employees
Temporary employees
Leased employees
Independent contractors
Question 30.30. Their placement fees are either a percentage of the client company's payroll or a fixed fee per employee. (Points : 1)
Temporary agency worker
Independent contractors
Freelancers
Leased employees
Question 31.31. The average monthly benefit for all retired workers earning old age benefits as of April 2010 was how much? (Points : 1)
$425
$780
$1,170
$1,712
Question 32.32. MomPop's General Store can avoid paying workers' compensation taxes if it keeps its staff to less than how many employees? (Points : 1)
12
50
100
25
Question 33.33. What is it called when Tanesha and Jaunita both work part-time to complete the duties of one full-time position? (Points : 1)
Job sharing
Freelancing
Dual staffing
Safe harboring
Question 34.34. Approximately how much was the cost per hour worked rate the legally required benefits cost in an average manufacturing company in 2010? (Points : 1)
$24.63
$2.30
$2.64
$2.27
Question 35.35. This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A & B). (Points : 1)
Medicare Select
Medicare Prescription Drug Program
Medicare Advantage
Medigap
Question 36.36. Medicare Part A is based on what type of health care option? (Points : 1)
Preferred provider plan
Medical savings account
Managed care plan
Fee-for-service
Question 37.37. Full or partial reimbursement of training costs is which type of benefit? (Points : 1)
Financial assistance
Employee assistance
Tuition reimbursement
Sabbatical leave
Question 38.38. Which of the following are the two main components of current core compensation? (Points : 1)
Base pay & bonuses
Base pay & legally-required benefits
Bonuses & legally-required benefits
Base pay & discretionary benefits
Question 39.39. The safe harbor rule requires that the contingent worker be covered by whose
pension plan? (Points : 1)
The leasing company
The client company
Depends on the contractual arrangement between the leasing company and the employer
The employee is responsible for his or her own pension
Question 40.40. This type of discretionary benefit would allow an employee to get help dealing with the effects of domestic violence. (Points : 1)
Family assistance program
Employee assistance program
Wellness program
Employer assistance program
Question 41.41. For part-time employees to be eligible to be in a company's retirement plan, which two qualifications must be met? (Points : 1)
age 21 or older & worked 2000 hours in a year of service
age 21 or older & worked 1000 hours in a year of service
age 18 or older & worked 2000 hours in a year of service
age 18 or older & worked 1000 hours in a year of service
Question 42.42. Outplacement assistance programs are best suited for which condition? (Points : 1)
New plant openings
Mergers and acquisitions
Workforce increases
Global operations
Question 43.43. Approximately what percentage of part-time employees had access to employer-sponsored health insurance programs in 2010? (Points : 1)
10%
25%
50%
67%
Question 44.44. In 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? (Points : 1)
Alabama
North Dakota
Michigan
Montana
Question 45.45. This type of flexible work schedule allows employees to work four 10-hour days a week. (Points : 1)
Flextime
Compressed work week
Job sharing
Relaxed work standards
Question 46.46. A new employee comes into your office and ask you how many hours a year he has to work to qualify as a year towards his vesting requirements. What would you tell him? (Points : 1)
1,000
1,400
800
1,200
Question 47.47. Who is responsible for compensating on-call employees? (Points : 1)
The independent contractor
The hiring company
The temporary agency
The government
Question 48.48. As of 2011, how much would you have to earn to qualify for one quarter of credit for OASDI coverage? (Points : 1)
$625 a month
$625 a year
$920 a month
$1,090 a year
Question 49.49. What is the economic reality test used to check for? (Points : 1)
The financial dependence of independent contractors
The solvency of employment agencies
The financial background of new hires
How close an employee is to being able to retire comfortably
Question 50.50. Which of the following is covered by Medicare Part A? (Points : 1)
Home health care
IV drugs
Surgery expenses
Doctor's bills
Question 51.51. An employee living in which place would benefit most from telecommuting due to minimizing expenses and commute time? (Points : 1)
Boston
Oshkosh, Wisconsin
Rural Alabama
Walla Walla, Washington
Question 52.52. To receive OASDI disability benefits, Sung Lee's disability would have to be expected to last at least how long? (Points : 1)
6 months
12 months
3 months
18 months
Question 53.53. Using this executive compensation theory, shareholders negotiate the compensation contracts with the executive in hopes of aligning the executive's interests with theirs. (Points : 1)
Agency
Tournament
Social comparison
Strategic
Question 54.54. In 2008, the average CEO earned how much more annually than the average food service worker? (Points : 1)
12 times greater
38 times greater
74 times greater
138 times greater
Question 55.55. As the vice-president, Sheila will receive short-term incentive compensation awards based on which two conditions? (Points : 1)
Her rank and compensation level
Her age and department
Her department and rank
Her age and compensation level
Question 56.56. Which executive bonus amount varies with the extent to which a pre-established minimum performance level is met? (Points : 1)
Target plan
Predetermined allocation
Performance-contingent
Discretionary
Question 57.57. Restricted stock generally allows the executives ownership of the stock after how many years? (Points : 1)
20-30
5-10
3-5
1-3
Question 58.58. In 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? (Points : 1)
Tournament
Competition
Comparison
Agency
Question 59.59. These entitle an executive to purchase company stock in the future for a predetermined price. (Points : 1)
Nonstatutory stock options
Incentive stock options
Restricted stock options
Phantom stock options
Question 60.60. The 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? (Points : 1)
1% owner in the top paid employee group
5% owner in the top paid employee group
Made over $50,000
Made over $75,000
Question 61. 61. What are the considerations HR professionals should take into account when designing fringe benefit programs for expatriates? Your response should be 200-250 words in length. (Points : 45)
Question 62. 62. Who are the key players in setting executive compensation? Detail their different roles. Your response should be 200-250 words in length. (Points : 45)
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