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Hrm 324 Final Exam Guide

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HRM 324 Final Exam Guide
To Buy This material Click below link http://www.uoptutors.com/HRM-324/HRM-324-Final-Exam-Guide Base pay defined is?
Pay by the drink
Hourly or annual salary
Service fees
A fee that is paid per project
How is base pay adjusted over time?
Cost of living adjustments
Seniority pay, merit pay
Incentive pay, person focused pay
All of the above
Extrinsic compensation includes?
Base salaries and bonuses
Jobs that provide autonomy
Both monetary and nonmonetary rewards
Traditional pay
4) Competency based can be defined as?
Two basic types of focused pay programs, pay for knowledge and skill base pay
Compensation for longevity
Phased wage approach
Retirement compensation
5) Pay for knowledge can be defined as?
a) Rewards for managerial, service, or professional workers for successfully learning specific curricula
b) Consultant fees
c) Measures labor productivity
6) Skill-based pay defined is?
a) Employees who work on computers
b) A term used mostly for employees who do physical work
c) Trade that deals mainly with the restaurants industry
d) Skills considered supervisory
7) Incentive pay defined is?
Augments employees base pay
Appears as a one-time payment
Employees usually receive a combination of recurring base pay and incentive pay
All of the above
8) Incentive pay plans can be broadly classified into what 3 categories.
a) Store sales, profit levels, customer quality
b) Cost savings, reduction, services
c) Individual incentive plans, group incentive plans, company wide plans
d) Number of units produced, amount of sales, error rate
9) Individual incentive pay plans are most appropriate under what 3 conditions?
a) Where employee’s performance can be measured objectively, employees have sufficient control over work outcomes; incentive plans do not create a level of unhealthy competition
b) Piecework plans, management incentive plans, referral plans
c) Pay and performance relationships, strive for excellence, incentive awards with job performance
10) Pension plans that entitle employers and employees to substantial tax benefits are known as:
Qualified plans
Nonqualified plans
Plan termination and procedures
PBGC
11) Qualified pension plans posses’ 13 fundamental characteristics.
a) True
b) False

12) Qualified pension plans are subject to minimum accrual rules based on the Internal Revenue Code and ERISA.
a) True
b) False

13) Under an international setting, Home Country-Based Method is?
A method that compensates expatriates’ the amount they would receive if they were performing similar work in the United States
Court compensation
A standard benefit program
Hardship allowance
14) How many methods are there for calculating base pay for U.S. expatriates.
a) 1
b) 3
c) 2
d) 4

15) Hardship allowances compensate expatriates for their sacrifices while on assignment’s.
True
False

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