quiz 58

 

1. Which of the following is NOT another name for gain sharing? 

 

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Improshare

 

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The Rucker plan

 

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The Scanlon plan

 

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Control-based compensation

 

 

 

2. Gain sharing plans consist of all EXCEPT which of the following elements:

 

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An involvement system

 

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A financial bonus

 

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An internal equity

 

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A philosophy of cooperation

 

 

 

3. Open pay systems tend to work best when

 

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there is a union to negotiate pay increases

 

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business strategy matches the organizational development stage

 

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effort and performance are related closely over a long time span

 

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job performance can be measured objectively

 

 

 

4. The Sarbanes–Oxley Act of 2002 requires that

 

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executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company

 

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the minimum wage change each year

 

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companies can seek repayment for incentives paid that were later found to be materially inaccurate

 

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the Securities and Exchange Commission meet annually to discuss bonuses

 

 

 

 5. ________________ 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.

 

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A point-of-service plan

 

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Disability coverage 

 

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Medical underwriting

 

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A preferred provider payment

 

 

 

6. In the United States, salary discussions among employees are protected under

 

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Salary.com

 

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the Fair Labor Standards Act (1938)

 

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the Equal Pay Act (1963)

 

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the National Labor Relations Act (1935)

 

 

 

7. ______________cover 128 million workers in the United States.

 

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Defined-benefit programs

 

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Point-of-service programs

 

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Defined-contribution programs

 

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Workers’ compensation programs 

 

 

 

8. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a

 

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defined-performance plan

 

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defined-contribution plan

 

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defined-benefit plan

 

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defined-retirement plan

 

 

 

 9. Which of the following laws established the first national minimum wage?

 

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Walsh–Healey Act (1936)

 

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Fair Labor Standards Act (1938)

 

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McNamara–O’Hara Service Contract Act (1965)

 

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Davis–Bacon Act (1931)

 

 

 

10. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is

 

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pay secrecy

 

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pay compression

 

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pay security

 

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pay inequality

 

 

 

11. 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. 

 

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merit-pay method

 

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employee stock ownership plan

 

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organizational reward system

 

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competency-based pay system

 

 

 

12. What is driving the increasing costs of healthcare?

 

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Rising cost of childcare

 

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Aging population and an increase in obesity

 

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Increasing numbers of legal immigrants

 

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Passage of the health care exchanges

 

 

 

13. 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.

 

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the concern with pay for position

 

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the percent of company offerings

 

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the willingness to reduce the size of the workforce

 

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the marginal productivity 

 

 

 

14. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?

 

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HIPAA (1996)

 

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ADA (1990)

 

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COBRA (1985)

 

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ERISA (1974)

 

 

 

15. ___________bridge the gap between organizational objectives and individual expectations and aspirations.

 

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Corporate compensation systems

 

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Financial systems

 

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Employment practices 

 

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Rewards

 

 

 

16. 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.

 

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organizational needs

 

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equity theory

 

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the external labor market

 

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the internal labor market

 

 

 

17. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it.

 

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Retirement pay

 

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Cost shifting

 

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Short-term disability

 

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Severance pay

 

 

 

18. The gatekeeper in a managed care health insurance plan is the

 

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insurance cost monitor

 

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primary care physician

 

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the employee

 

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the HR representative

 

 

 

19. One downside of team incentives is that 

 

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most employees do not feel that their jobs have a direct impact on profits

 

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it does not provide retirement income to employees

 

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it does nothing to educate employees about the factors of business success and capitalism

 

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managers do not feel that incentives motivate employees equally

 

 

 

20. Evidence indicates that the perceived value of benefits rises when employers introduce

 

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more jobs

 

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higher salaries

 

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choice through a flexible benefits package

 

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flexible supervisors

 

 

 

 

 

 

 

21. One strategic issue that should influence the design of benefits is an organization’s

 

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plan to pay panel

 

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stage of development

 

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value to employees

 

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shareholder’s form