Pay differences are usually smaller in egalitarian pay structures

	True
	False

Base salary is not an element of performance-based pay

	True
	False

To compare the relative worth of jobs within a single company, a compensation analyst needs to conduct__________

	Pay determination
	Job evaluation
	Job analysis
	Job structure

When creating a salary structure for the company in our group project, one team in our class matched pay for all jobs with rates paid in the external market. Job with similar pays were then grouped together to form different pay ranges. The process is called_________

	Market pricing
	Pay line
	Point line
	Market line

Place the following steps of job evaluation in a correct order:

1234	Rank jobs based on compensable factors
1234	Determine compensable factors
1234	Select benchmark jobs
1234	Decide weight for each compensable factors

To promote team culture, an organization should design their incentive pay system focusing on........

	Merit bonus
	Gain sharing plans
	Variable pay
	Merit increase

At the end of the year, an employee with high performance gets an merit-based pay of $6000, equivalent to 3% of their base pay. If instead of getting $6000, employee gets a base raise of 3%, this raise is called"...................

	Long term incentive
	Short term incentive
	Merit bonus
	Merit increase

Which of the following is an individual incentive plan?

	A straight piecework system
	A balanced scorecard system
	A gain-sharing plan
	A stock ownership plan

From managers' perspective, merit bonus is generally

costly than merit increase.

If the midpoint of a pay range is $25,000 and the range is 25% above and below the midpoint, what is the minimum of the pay range?

	$16,000
	$15,000
	$18,750
	$22,000