module 1

Question 1

represents the rewards employees receive for performing their jobs

Answer 1

compensation

Question 2

represents employees’ critical psychological state that result from performing their jobs

Answer 2

intrinsic compensation

Question 3

includes both monetary and nonmonetary rewards

Answer 3

extrinsic compensation

Question 4

refers to the design and implementation of compensation systems to reinforce the objectives of both hr strategies and competitive business strategies

Answer 4

strategic compensation

Question 5

financial capital
equipment capital
human capital

Answer 5

competitive business strategy

Question 6

the use of multiple hr practices to reinforce the competitive business strategy

Answer 6

human resource strategies

Question 7

key to giving employees the necessary knowledge and skill to use new workplace technology effectively

Answer 7

pay for knowledge and skill based pay programs

Question 8

refers to the factors that enable companies to generate income, higher stock prices and economic value and reputation

Answer 8

capital

Question 9

refers to sets of collective skills, knowledge and abilities that employees can apply to create value for the employers

Answer 9

human capital

Question 10

reinforce excellent job performance

Answer 10

well-designed merit pay and incentive programs

Question 11

focus on being the lowest cost producer/seller of goods

Answer 11

lowest cost strategy

Question 12

focus on offering unique goods or service to the public

Answer 12

differentiation strategy

Question 13

core compensation
adjustments to core compensation
legally require employee benefits
discretionary employee benefits

Answer 13

focuses of extrinsic compensation

Question 14

hourly wage

annual salary

Answer 14

base pay

Question 15

skill level
effort
level of responsibility
severity of the working conditions

Answer 15

compensable factors

Question 16

cost of living adjustments
seniority pay
merit pay
incentive pay
person-focused pay or competency pay

Answer 16

how base pay is adjusted over time

Question 17

represent periodic base pay increases that are founded on changes in prices as indexed by the consumer price index

Answer 17

COLAS- cost of living adjustments

Question 18

systems that reward employees with periodic additions to base pay according to employees length of service in performing their jobs

Answer 18

seniority pay

Question 19

assumes that employees’ compensation over time should be determined at least in part by differences in job performance

Answer 19

merit pay

Question 20

rewards employees for partially or completely attaining a predetermined work objective

Answer 20

Incentive

Question 21

rewards managerial, service or professional workers for successfully learning specific curricula

Answer 21

pay for knowledge plans

Question 22

is used mostly for employees who perform physical work and increased these workers pay as they master new skills

Answer 22

skill-based pay

Question 23

provide family benefits, promote health an guard against income loss cause by such catastrophic factors as unemployment disability or serious illness

Answer 23

protection programs

Question 24

provides employee with pay for time when they are not working

Answer 24

PTO

Question 25

provides such enhancements as tuition reimbursement and day care assistance to employees and their families

Answer 25

services

Question 26

promote worker safety and health maintain family income assist families in crisis provide assistance in case of disability and unemployment

Answer 26

legally required benefits

Question 27

determined by employees' credentials, job knowledge and job performance

Answer 27

pay structures

Question 28

based on compensable factors

Answer 28

pay grades

Question 29

pay ranges

Answer 29

built on grades, uses midpoint min and max pay rates

Question 30

``` merit plans sales compensation plans broadband structures two-tier wage structures executive compensation contingent worker compensation expatriate compensation conpensation structures in countries other than the us ```

Answer 30

alternative pay structure confgurations

Question 31

directly involved in producing companies' goods or delivering their services such as manufacturing leaders

Answer 31

line employees

Question 32

support the line functions, human resource professional and accountants are examples of

Answer 32

staff employees

Question 33

report directly to the corporation's ceo or head of a major division

Answer 33

executives

Question 34

perform tasks in a variety of hr-related areas such as involvement in most or all of the compensation functions

Answer 34

generalists

Question 35

work within only one of the areas of compensation practice such as compensation survey development

Answer 35

specialists

Question 36

``` recruitment relocation selection performance appraisal training career development labor-management relations employment termination legislation ```

Answer 36

practices implemented by hr professionals

Question 37

employees line managers executives unions us govt

Answer 37

entities directly affected by compensation practices

Question 38

- rely on compensation professionals to: develop and implement systematic training programs, inform them of training pay link, and offer discretionary benefits that provide income protection, paid time off, services

Answer 38

employees

Question 39

-- rely on compensation professionals to ensure knowledge of relevant laws to help make sound compensation judgments, advise for establishing pay differentials and train them how to properly evaluate jobs

Answer 39

line managers

Question 40

- rely on compensation professionals to develop and manage sound compensation systems, insure the company's practices are legally consistent, sufficiently attractive to recruit and retain

Answer 40

executives

Question 41

- rely on compensation professionals to:a bide by their collective bargaining agreements, ensure they get their COLA adjustments and seniority pay

Answer 41

unions

Question 42

the - - requires compensation professionals to: keep updated and comply with all employment legislation, demonstrate that alleged discriminatory pay practices are not in fact discriminatory; or, are a business necessity

Answer 42

u.s. govt