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Distribution of data

Saint HRm562 Final exam 2016 (A+++++) Question Question 1.1. What does it mean when the distribution of data is skewed to the right? (Points : 1) There is a lower frequency of larger values and the median is greater than the mean. There is a higher frequency of larger values and the median is greater than the mean. There is a lower frequency of larger values and the mean is greater than the median. There is a higher frequency of larger values and the mean is greater than the median Question 2.2. These are reference points against which jobs within the company are judged. (Points : 1) Benchmark jobs Relevant labor markets Internal labor markets Human resource capabilities Question 3.3. These represent the horizontal dimension of pay structures. (Points : 1) Pay ranges Pay grades Job evaluation points Pay spreads Question 4.4. In establishing pay grades, which pay rate is established first? (Points : 1) Minimum pay rate Midpoint Third quartile Maximum pay rate Question 5.5. Alejandro Martinez is responsible for setting up the pay structure for his company. He believes that newly hired employees should not be paid as much as established employees. Accordingly, what type of pay structure should Mr. Martinez use? (Points : 1) Broadbanding Sales incentives Two-tiered Merit pay Question 6.6. What types of companies are most likely to utilize two-tier wage systems? (Points : 1) Unionized firms Sales firms Public sector companies Private sector companies Question 7.7. When examining competitors’ compensation offerings this term is used to describe the percentage of employer compensation costs that are applied to compensation and benefits. (Points : 1) Mix Quartile Standard percentile Nominal dollars Question 8.8. In the regression analysis formula, what does the X represent? (Points : 1) Predicted salary Job evaluation points The slope The Y intercept Question 9.9. This theory suggests that an employee must regard his own ratio of merit increase pay to performance as similar to the ratio for other comparably performing people in the company. (Points : 1) Comparable ratio theory Comparable pay theory Equality theory Equity theory Question 10.10. Which scenario would be appropriate for using a salary-only plan? (Points : 1) The salesperson is selling high-priced products with long lead times. The salesperson has substantial influence over sales. The company is looking to save money due to budget constraints. The company is looking to create competition among its sales staff. Question 11.11. This type of commission draw acts as a salary because employees are not obligated to repay the loans if they do not sell enough to cover the amount. (Points : 1) Nonrecurring draw Safe draw Nonrecoverable draw Graduated draw Question 12.12. Which compensation policy best fits with a lowest-cost competitive strategy? (Points : 1) Market lead policy Market lag policy Market match policy Any of the above would be appropriate Question 13.13. In the regression analysis formula, what does the b represent? (Points : 1) Predicted salary Job evaluation points The slope The Y intercept Question 14.14. Jose Escobar conducts a survey of salaries at UB2 Enterprises and finds that 50% of the workers fall below the market pay average of $32,000. In which quartile do the workers at ERL Enterprises fall? (Points : 1) First Second Third Fourth Question 15.15. In regression, what does it mean when the R2 = 1? (Points : 1) All the variation in market pay can be explained by the company’s job structure. None of the variation in market pay can be explained by the company’s job structure. All the variation in market pay can be explained by the company’s external pay rates. All of the variation in market pay can be explained by the benchmark rates. Question 16.16. With which type of sales commission plan does an employee earn a higher rate of commission for all sales made in a given period if the sales level exceeds a predetermined level? (Points : 1) Commission-plus-draw plan Straight commission Multiple-tiered commission Graduated commission Question 17.17. What represents the relationship between a company’s valuation of jobs based on job evaluation and the valuation of jobs within the external market, as assessed by compensation surveys? (Points : 1) Market-competitive pay structure Pay grade Pay range Market pay line Question 18.18. The NCS provided incidence and extensive data on which two types of compensation benefits? (Points : 1) Health insurance & retirement Retirement & stock options Health insurance & pay Pay & stock options Question 19.19. What would Yolanda’s salary of $165,000 be considered if the means salary for B42DA, Inc., is $30,000 and the median salary is $32,000? (Points : 1) Overlie Outsider Outlier Over layer Question 20.20. How are compa-ratios calculated? (Points : 1) Dividing the green circle rates mid-point by the normal pay range Dividing the employee’s pay rate by the market line rate Dividing an employee’s pay rate by the pay range midpoint Dividing the red circle rates by the normal pay range Question 21.21. Which of the following is a characteristic of integrated paid time off policies? (Points : 1) Such policies distinguish among reasons for absence Individuals have to justify reason for taking time off Holiday, vacation, sick leave, and personal leave are combined Can lead to increased unscheduled absences Question 22.22. Discretionary benefits are generally divided into which three categories? (Points : 1) Health benefits, intellectual enhancements, and paid time-off Pension benefits, protection programs, and health benefits Services, paid time-off, and protection programs Intellectual enhancements, health benefits, and services Question 23.23. A short-term incentive plan would most likely be used for which company employee? (Points : 1) A sanitation worker A new employee in training A mid-level manager The company’s CEO Question 24.24. What is the most common type of life insurance policy offered by companies? (Points : 1) Group life insurance Term life insurance Whole life insurance Universal insurance Question 25.25. Companies establish retirement plans following which of these three design configurations? (Points : 1) Defined benefit, defined contribution, hybrid Qualified benefit, qualified contribution, hybrid Qualified benefit, nonqualified benefit, hybrid Funded, unfunded, hybrid Question 26.26. These rights provide employees with an opportunity to purchase a number of stocks at a designated price within a specified period of time. (Points : 1) Stock option Stock grant Disposition Exercise of one’s grant Question 27.27. Which of the following NOT a condition manifesting short-term disability? (Points : 1) Pregnancy Recovery from surgery Recovery from illness Recovery from major injuries Question 28.28. Which of the following is an example of a welfare practice? (Points : 1) Overtime pay Regular wages Workers’ compensation laws Employee recreational areas Question 29.29. Which type of contingent worker tends to have specialized skills that are in relatively limited supply in the labor market? (Points : 1) Part-time employees Temporary employees Leased employees Independent contractors Question 30.30. Their placement fees are either a percentage of the client company’s payroll or a fixed fee per employee. (Points : 1) Temporary agency worker Independent contractors Freelancers Leased employees Question 31.31. The average monthly benefit for all retired workers earning old age benefits as of April 2010 was how much? (Points : 1) $425 $780 $1,170 $1,712 Question 32.32. MomPop’s General Store can avoid paying workers’ compensation taxes if it keeps its staff to less than how many employees? (Points : 1) 12 50 100 25 Question 33.33. What is it called when Tanesha and Jaunita both work part-time to complete the duties of one full-time position? (Points : 1) Job sharing Freelancing Dual staffing Safe harboring Question 34.34. Approximately how much was the cost per hour worked rate the legally required benefits cost in an average manufacturing company in 2010? (Points : 1) $24.63 $2.30 $2.64 $2.27 Question 35.35. This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A & B). (Points : 1) Medicare Select Medicare Prescription Drug Program Medicare Advantage Medigap Question 36.36. Medicare Part A is based on what type of health care option? (Points : 1) Preferred provider plan Medical savings account Managed care plan Fee-for-service Question 37.37. Full or partial reimbursement of training costs is which type of benefit? (Points : 1) Financial assistance Employee assistance Tuition reimbursement Sabbatical leave Question 38.38. Which of the following are the two main components of current core compensation? (Points : 1) Base pay & bonuses Base pay & legally-required benefits Bonuses & legally-required benefits Base pay & discretionary benefits Question 39.39. The safe harbor rule requires that the contingent worker be covered by whose pension plan? (Points : 1) The leasing company The client company Depends on the contractual arrangement between the leasing company and the employer The employee is responsible for his or her own pension Question 40.40. This type of discretionary benefit would allow an employee to get help dealing with the effects of domestic violence. (Points : 1) Family assistance program Employee assistance program Wellness program Employer assistance program Question 41.41. For part-time employees to be eligible to be in a company’s retirement plan, which two qualifications must be met? (Points : 1) age 21 or older & worked 2000 hours in a year of service age 21 or older & worked 1000 hours in a year of service age 18 or older & worked 2000 hours in a year of service age 18 or older & worked 1000 hours in a year of service Question 42.42. Outplacement assistance programs are best suited for which condition? (Points : 1) New plant openings Mergers and acquisitions Workforce increases Global operations Question 43.43. Approximately what percentage of part-time employees had access to employer-sponsored health insurance programs in 2010? (Points : 1) 10% 25% 50% 67% Question 44.44. In which state would an employee be eligible for an additional 13 weeks of emergency unemployment insurance (for a total of 33 weeks) under the Unemployment Compensation Act of 2008 due to excessively high state unemployment? (Points : 1) Alabama North Dakota Michigan Montana Question 45.45. This type of flexible work schedule allows employees to work four 10-hour days a week. (Points : 1) Flextime Compressed work week Job sharing Relaxed work standards Question 46.46. A new employee comes into your office and ask you how many hours a year he has to work to qualify as a year towards his vesting requirements. What would you tell him? (Points : 1) 1,000 1,400 800 1,200 Question 47.47. Who is responsible for compensating on-call employees? (Points : 1) The independent contractor The hiring company The temporary agency The government Question 48.48. As of 2011, how much would you have to earn to qualify for one quarter of credit for OASDI coverage? (Points : 1) $625 a month $625 a year $920 a month $1,090 a year Question 49.49. What is the economic reality test used to check for? (Points : 1) The financial dependence of independent contractors The solvency of employment agencies The financial background of new hires How close an employee is to being able to retire comfortably Question 50.50. Which of the following is covered by Medicare Part A? (Points : 1) Home health care IV drugs Surgery expenses Doctor’s bills Question 51.51. An employee living in which place would benefit most from telecommuting due to minimizing expenses and commute time? (Points : 1) Boston Oshkosh, Wisconsin Rural Alabama Walla Walla, Washington Question 52.52. To receive OASDI disability benefits, Sung Lee’s disability would have to be expected to last at least how long? (Points : 1) 6 months 12 months 3 months 18 months Question 53.53. Using this executive compensation theory, shareholders negotiate the compensation contracts with the executive in hopes of aligning the executive’s interests with theirs. (Points : 1) Agency Tournament Social comparison Strategic Question 54.54. In 2008, the average CEO earned how much more annually than the average food service worker? (Points : 1) 12 times greater 38 times greater 74 times greater 138 times greater Question 55.55. As the vice-president, Sheila will receive short-term incentive compensation awards based on which two conditions? (Points : 1) Her rank and compensation level Her age and department Her department and rank Her age and compensation level Question 56.56. Which executive bonus amount varies with the extent to which a pre-established minimum performance level is met? (Points : 1) Target plan Predetermined allocation Performance-contingent Discretionary Question 57.57. Restricted stock generally allows the executives ownership of the stock after how many years? (Points : 1) 20-30 5-10 3-5 1-3 Question 58.58. In the end, Yolanda beat Tristen and Michel in a series of competitions among top-level managers to become CEO of National LemGlass. Which compensation theory did the company probably use? (Points : 1) Tournament Competition Comparison Agency Question 59.59. These entitle an executive to purchase company stock in the future for a predetermined price. (Points : 1) Nonstatutory stock options Incentive stock options Restricted stock options Phantom stock options Question 60.60. The IRS considers Sylvia to be a highly compensated employee for Beautiful Pictures, Inc., which means she has at least one of which of the following qualifications in the preceding year? (Points : 1) 1% owner in the top paid employee group 5% owner in the top paid employee group Made over $50,000 Made over $75,000 Question 61. 61. What are the considerations HR professionals should take into account when designing fringe benefit programs for expatriates? Your response should be 200-250 words in length. (Points : 45) Question 62. 62. Who are the key players in setting executive compensation? Detail their different roles. Your response should be 200-250 words in length. (Points : 45)

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