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HRM 531 Week 2 Knowledge Check PaperScholar Study Aids
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HRM 531 Week 2 Knowledge Check

HRM 531 Week 2 Knowledge Check

1. 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.
• A.competency-based pay system
• B.employee stock ownership plan
• C.organizational reward system
• D.merit-pay method

2. ___________ bridge the gap between organizational objectives and individual expectations and aspirations.
• A.Financial systems
• B.Corporate compensation systems
• C.Employment practices
• D.Rewards

3. Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow the equity norm and to use it as a basis for distributing rewards.

• A.equity theory
• B.the external labor market
• C.organizational needs
• D.the internal labor market

4. 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.
• A.the marginal productivity
• B.the percent of company offerings
• C.the willingness to reduce the size of the workforce
• D.the concern with pay for position

5. Which of the following laws established the first national minimum wage?
• A.Davis–Bacon Act (1931)
• B.Fair Labor Standards Act (1938)
• C.Walsh–Healey Act (1936)
• D.McNamara–O’Hara Service Contract Act (1965)

6. The Sarbanes–Oxley Act of 2002 requires that
• A.companies can seek repayment for incentives paid that were later found to be materially inaccurate
• B.the Securities and Exchange Commission meet annually to discuss bonuses
• C.the minimum wage change each year
• D.executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company

7. In the United States, salary discussions among employees are protected under
• A.the Equal Pay Act (1963)
• B.the National Labor Relations Act (1935)
• C.Salary.com
• D.the Fair Labor Standards Act (1938)

8. Open pay systems tend to work best when
• A.there is a union to negotiate pay increases
• B.business strategy matches the organizational development stage
• C.job performance can be measured objectively
• D.effort and performance are related closely over a long time span

9. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is
• A.pay secrecy
• B.pay compression
• C.pay security
• D.pay inequality

10. Gain sharing plans consist of all EXCEPT which of the following elements:
• A.An internal equity
• B.A philosophy of cooperation
• C.A financial bonus
• D.An involvement system

11. Which of the following is NOT another name for gain sharing?
• A.The Scanlon plan
• B.The Rucker plan
• C.Control-based compensation
• D.Improshare

12. One downside of team incentives is that
• A.managers do not feel that incentives motivate employees equally
• B.it does not provide retirement income to employees
• C.most employees do not feel that their jobs have a direct impact on profits
• D.it does nothing to educate employees about the factors of business success and capitalism

13. One strategic issue that should influence the design of benefits is an organization’s
• A.plan to pay panel
• B.value to employees
• C.shareholder’s form
• D.stage of development

14. Evidence indicates that the perceived value of benefits rises when employers introduce
• A.higher salaries
• B.more jobs
• C.flexible supervisors
• D.choice through a flexible benefits package

15. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?
• A.COBRA (1985)
• B.HIPAA (1996)
• C.ERISA (1974)
• D.ADA (1990)

16. ______________cover 128 million workers in the United States.
• A.Workers’ compensation programs
• B.Defined-benefit programs
• C.Defined-contribution programs
• D.Point-of-service programs

17. ________________ 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.

• A.A preferred provider payment
• B.Medical underwriting
• C.Disability coverage
• D.A point-of-service plan

18. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a
• A.defined-benefit plan
• B.defined-performance plan
• C.defined-retirement plan
• D.defined-contribution plan

19. What is driving the increasing costs of healthcare?

• A.Passage of the health care exchanges
• B.Aging population and an increase in obesity
• C.Increasing numbers of legal immigrants
• D.Rising cost of childcare

20. The gatekeeper in a managed care health insurance plan is the
• A.primary care physician
• B.insurance cost monitor
• C.the employee
• D.the HR representative

21. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it.
• A.Retirement pay
• B.Short-term disability
• C.Severance pay
• D.Cost shifting