MGT 422 - Chapter 11 Quiz - Pay Structures

MGT 422 - JSU - Chapter 11 Quiz - Pay Structures

It can be generated using statistical procedures, such as a regression analysis.

HR management at the Star Corporation needs assistance in developing a formal pay system. None of the HR managers have a strong background in compensation and benefits. They ask you to help them develop a pay policy line for their pay system but do not know what it really is or how to create one. How would you respond?

It is used to determine the correspondence between the actual and intended pay.

It reduces the number of job levels to achieve more flexibility in job assignments.

It can be generated using statistical procedures, such as a regression analysis.

It groups together jobs that have similar worth or content.

It is a tool used to calculate the compa-ratio.

Actual pay exceeds that of pay policy.

Romeo Lopez, a business analyst at the Quantum Corporation, has a current annual salary of $110,000. The salary range for the business analyst job is $80,000 to $120,000annually. Based on this information, what can you conclude?

Actual pay is less than that of pay policy.

Actual pay exceeds that of pay policy.

The company’s pay policy does not match that of its competitors.

Actual pay equals that of pay policy.

The pay policy does not meet federal guidelines.

the possibility of generating a large bureaucracy

Which of the following is a disadvantage of skill-based pay?

the possibility of generating a large bureaucracy

decreased worker flexibility

centralization of decision making

decision making authority not given to knowledgeable employees

not adaptive to a shortage of supply

paid vacation

Which of the following is part of benefits offered to employees?

stock options

paid vacation

salary

merit increases

bonuses

administrative employees

Which group of employees is exempt from the Fair Labor Standards Act?

police

teachers

paramedics

first responders

administrative employees