BUSI 645 Midterm

BUSI 645 Midterm Liberty University

1. A common, but mistaken assumption, is that high demand for workers applies only to which kind of jobs?
2. Market match policies are generally set to which quartile in the salary survey?
3. Which of the following are the two main reasons given for adopting person-focused programs?
4. Which is the fundamental principle of internally consistent compensation system
5. This term suggests that a loss is likely for the firm, and that the individual will be left with little control.
6. One of the essential skills that software development engineers must have is the proficiency in at least one of the modern computer programming languages, such as Java or C++. This must be indicated in which part of the job analysis description?
7. Suppose that a compensation professional would like to calculate the median salary. He orders four salaries as follows: $20,000, $22,000, $24,000, $26,000. What is the median salary for this data set?
8. These are used as reference points for setting pay levels.
9. Which of the following would be considered as an advantage of broadbanding?
10. In 2017, employees were expected to earn average merit increases of what percent?
11. Which of following enables companies to generate income, higher company stock prices, economic value, strong positive brand identity, and reputation?
12. Wherever proprietary information is the subject of training, a company most often relies on which of the following sources of expertise?
13. John and Mark hold equivalent secretarial jobs, but John, who makes 20 percent more than Mark, is employed by a manufacturing firm while Mark is employed by a department store. Based on this information, which of the following best explains this pay differential?
14. This appraisal system is the most defensible in court because it is based on observable job performance behaviors.
15. This performance appraisal system is based on employees and supervisors identifying on- the-job behaviors and behavioral outcomes that distinguish levels of job performance.
16. Which pay plan generally rewards employees for meeting work objectives?
17. Wei is the HR manager of a manufacturing facility that has used the cross-departmental system and has noticed that absenteeism rates have been significantly lower since implementing this system. As a result, Wei may tell the managers that the company is able to do which of the following?
18. Which two factors should compensation professionals consider before endorsing the use of merit pay systems?
19. Which of the following pay systems is used by unions and contractors to reward their carpenters for increasing carpentry abilities?
20. In the regression analysis formula, what does the X represent?
21. Which evaluation system requires that supervisors compare each employee to every other employee?
22. Jamie earned a raise in pay when he finished the training for the Technician 2 position. He will receive another raise when he finishes the training for the Technician 3 position. The company is probably using which type of model?
23. If the company wants to lead the market, how will that company’s pay range midpoint compare to the market average?
24. What was the main effect created by the revisions to the ADA regulations passed in 2008?
25. What type of pay system rewards employees for partially or completely attaining a predetermined work objective?
26. This section concisely summarizes the job with two to four descriptive statements.
27. In which type of document do compensation professionals represent the selection and implementation of pay level and pay mix policies over a specified time period, usually one year?
28. Which of the following type of job evaluation plans is used when the company chooses to assign job pay rates that are neither too low nor too high relative to the market?
29. Which of the following costs is NOT associated with the use of person-focused pay programs?
30. A human resource manager of a company decides to change the current job-content valuation technique by using a quantitative methodology. He thinks that the old approach fails to balance internal and external considerations while evaluating jobs. Which type of job evaluation technique do you suggest for this HR manager?
31. Which gainsharing plan bases incentives on the ratio between labor costs and sales value of production (SVOP)?
32. 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. Which type of pay structure should Mr. Martinez use?
33. Which of the following is one of the four “universal compensable factors”?
34. is/are guiding principles that influence the way individuals and organizations behave within the society that they operate
35. Abilities, interests and work styles are elements for which O*NET category?
36. Since the economic recession (2007-2009) ended, fewer companies have offered pay increases, and those that do are offering lower amounts. Approximately, how much have pay increases been?
37. Which of the following is based on the human capital theory?
38. As a result of this law enacted by Congress, employers must now show that employment practices that create disparate impact are a business necessity. This law also made it legal for S. citizens working abroad for U.S. companies to file suit.
39. There are 15 animal keepers working for the XYZ Zoo. Their supervisor is required to rate the performance of these workers based on the following criteria: 30% of the animal keepers will be rated as below-average, 40% of the animal keepers will be rated as average, and 30% of the animal keepers will be rated as above average. What type of performance appraisal is used?
40. Which pay model promotes learning and skills development for a wide variety of jobs from different job families?