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SAINT HRM562 FINAL EXAM 2016 (PERFECT ANSWER)
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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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  • SAINT HRM562 FINAL EXAM 2016 (PERFECT ANSWER)
    $50.00

    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. (P

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