1. Which of the following laws established the first national minimum wage?
Fair Labor Standards Act (1938)
Davis–Bacon Act (1931)
McNamara–O'Hara Service Contract Act (1965)
Walsh–Healey Act (1936)
2. The gatekeeper in a managed care health insurance plan is the
primary care physician
insurance cost monitor
the HR representative
3. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a
4. Which of the following is NOT another name for gain sharing?
The Scanlon plan
The Rucker plan
5. 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.
employee stock ownership plan
competency-based pay system
organizational reward system
6. One downside of team incentives is that
managers do not feel that incentives motivate employees equally
it does nothing to educate employees about the factors of business success and capitalism
most employees do not feel that their jobs have a direct impact on profits
it does not provide retirement income to employees
7. ______________cover 128 million workers in the United States.
Workers’ compensation programs
8. Open pay systems tend to work best when
business strategy matches the organizational development stage
there is a union to negotiate pay increases
job performance can be measured objectively
effort and performance are related closely over a long time span
9. ________________ 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.
A point-of-service plan
A preferred provider payment
10. In the United States, salary discussions among employees are protected under
the Equal Pay Act (1963)
the Fair Labor Standards Act (1938)
the National Labor Relations Act (1935)
11. Evidence indicates that the perceived value of benefits rises when employers introduce
choice through a flexible benefits package
12. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it.
13. Gain sharing plans consist of all EXCEPT which of the following elements:
An involvement system
A financial bonus
An internal equity
A philosophy of cooperation
14. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?
15. The Sarbanes–Oxley Act of 2002 requires that
executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company
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
the minimum wage change each year
16. One strategic issue that should influence the design of benefits is an organization’s
value to employees
plan to pay panel
stage of development
17.__________ bridge the gap between organizational objectives and individual expectations and aspirations.
Corporate compensation systems
18. 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 willingness to reduce the size of the workforce
the marginal productivity
the percent of company offerings
the concern with pay for position
19. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is
20. 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.
the internal labor market
the external labor market
21. What is driving the increasing costs of healthcare?
Increasing numbers of legal immigrants
Rising cost of childcare
Passage of the health care exchanges
Aging population and an increase in obesity