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(Fully read the instructions on the front page: answer sheet.) Multiple Choice: Identify the choice that best completes the statement or answers the question. 1. Bonuses are less costly to the organization than general wage increases, because a. bonuses are frequently given in the form of non-cash items. b. the annual amount given as a bonus tends to be smaller than the annual amount given as a raise. (C. bonuses do not become part of employees' base wages. d. bonuses receive preferential tax treatment. 2. The derived from the pay survey is/are used to develop pay range minimums and maximums. a. the lesser of the statistical average or the median pay level of the market bands b. minimum and the maximum of the pay ranges in the survey with outliers eliminated c. minimum and maximum of the pay ranges in the survey (d. midpoint of the survey average 3. The CEO of MasterFiber Textiles attended a conference where he spoke with the CEO of Golden Fleece Manufacturing. Golden Fleece has had great suceess in implementing an individual pay-for-performance system. The CEO of MasterFiber has directed the vice president of HR to implement the Golden Fleece method at MasterFiber. The FIRST concern of the VP of HR should be a. Does the plan reward the appropriate employee actions? b. Can MasterFiber afford the plan? c. Can the plan be administered properly? (d) Does the plan fit with the business strategies and culture at MasterFiber? 4. Marie has been offered work as an employee trainer for AgriEnterprise. In this job, Marie will use the employer's training materials, and she will train employees at AgriEnterprise's three locations at the times that the company determines. Marie has been promised that the company will continue to use her services as long as her performance is satisfactory. Marie has agreed not to work as a trainer for any other company while she is working for AgriEnterprise. The company is paying Marie as an independent contractor. Which of the following statements is correct? a. Marie is an independent contractor with only one client. b. Marie would properly be classified as a creative professional employee. c. Marie is a contractor. (4) Marie is an employee. 5. In order to show how the rate of compensation changes compares with the rate of changes in the organization's revenues overall a. compensation metrics should be calculated for regular employees (excluding compensation for part time employees) and compared with previous years' metrics. b. total compensation is charted against total revenues, and any upward change in total compensation is analyzed. (c. compensation metrics should be calculated each year and compared with previous years' metrics. d. the board of directors should have compensation metrics calculated on a rotating basis: Human value added one year, return on human capital invested the next year, and so. forth. This provides the "big picture" strategically. 6. Steven, the vice president of manufacturing for a U.S. textile firm that is opening up a plant in India, taieet decide how to pay the hourly workers in the Indian plant. After much consultation with his peers at other companies he decides to follow the common practice of a. paying wages negotiated with the local community leaders in India. b. paying higher than the local Indian wages, but lower than the equivalent U.S. wage. (c) paying local Indian wages. d. paying the U.S. wage in lndian rupees. 7. Gigantic Motor Vehicles, which manufactures the Behemoth, the main competitor to the Hummer, has experienced huge losses for the last three years due to collapsing sales of their gas-guzaling vehicles. GMV's stock has plummeted on Wall Street because it has not met projected profits for the 24th straight quarter. GMV has moved to a pure pay-for-performance system that is tied to achievement of organizational profit goals. Which of the statements below are most likely to be true? a. No GMV employee can expect he/she will receive a pay increase, regardless of his/her performance. b. Only high performers at GMV can be certain that they will receive a pay increase. c. All employees except those who are the worst performers can expect that they will receive a pay increase. d. GMV will be able to attract high performing employees from its competitors. 8. Angela, one of the company's best administrative employees, has made an appointment with you, the vice president of HR. Angela is extremely upset because she has done an Internet search on compensation levels for her particular job. She has found that her salary falls below both the industry median and industry average, even though she has been with the company for four years and has had outstanding performance reviews. Angela is a valuable employee and she would be difficult to replace. In addition, if Angela's morale declines, her attitude will strongly affect her co-workers. The compensation system at your company has a strong emphasis on internal equity, and it is a solid and legal system. Which of the following arguments would be LEAST effective for retaining Angela and maintaining her morale? a. Demonstrate that your company offers higher benefits than does the average company listed in the surveys she has found. (b) Tell Angela that the company has done extensive job evaluation studies, and although she is a highly-valued employee, you can't justify paying her any more. c. Point out to Angela that your company is located in a small, rural town and that the data she has gathered from the Internet is based on companies that operate in all geographic locations. d. Explain that Angela's job does not include responsibility for budgeting that the benchmark job in the Intemet survey includes. 9. Compared to other developed nations, the United States is unusual in that a. labor unions fund health benefits for unionized workers. b. retiree health benefit plans are under financial pressure. c. health benefits are provided for most part-time workers. d. health benefits are provided directly by employers