HRM 324 Complete Class
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HRM 324 Final Exam
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1. Base pay defined is?
a. Pay by the drink
b. Hourly or annual salary
c. Service fees
d. A fee that is paid per project
2. How is base pay adjusted over time?
a. Cost of living adjustments
b. Seniority pay, merit pay
c. Incentive pay, person focused pay
d. All of the above
3. Extrinsic compensation includes?
a. Base salaries and bonuses
b. Jobs that provide autonomy
c. Both monetary and nonmonetary rewards
d. Traditional pay
4) Competency based can be defined as?
a. Two basic types of focused pay programs, pay for knowledge and skill base pay
b. Compensation for longevity
c. Phased wage approach
d. 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?
a. Augments employees base pay
b. Appears as a one-time payment
c. Employees usually receive a combination of recurring base pay and incentive pay
d. 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...