TEST BANK for Compensation 6th Canadian Edition by Margaret Yap, Jerry Newman and Bruce Gerhart. ISBN 9781264159437, ISBN: 9781260065886 _TABLE OF CONTENTS_ Chapter 1 The Pay Model Chapter 2 Stra tegy: The Totality of Decisions PART I Internal Alignment: Determining the Structure Chapter 3 Defining...
Version 1 1 Chapter 1 The Pay Model TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) Paying executives based on company performance measures such as shareholder return can help keep executives focused on the best interests of the company ⊚ true ⊚ false 2) Compensation refers to all forms of non -financial returns and intangible services and benefits that employees receive as part of an employment relationship. ⊚ true ⊚ false 3) Total compensation includes psychological aspects of work such as recognition and status, challenging work, and learning opportunities. ⊚ true ⊚ false 4) Base pay is the cash compensation an employer pays for the work performed. ⊚ true ⊚ false 5) Cost-of-living adjustment refers to percentage increment to base pay provided to employees based on their performance. ⊚ true ⊚ false 6) Incentives may be long-term or short -term. ⊚ true ⊚ false Version 1 2 7) Total compensation only includes salary and incentives; not benefits. ⊚ true ⊚ false 8) Making contributions to Workers' Compensation is at discretion of the employer. ⊚ true ⊚ false 9) Allowances are rewards given to employees based on their performance. ⊚ true ⊚ false 10) Compliance means an organization cares about how its results are achieved ⊚ true ⊚ false 11) External competitiveness refers to pay comparisons between different skill levels in an organization. ⊚ true ⊚ false 12) While external competitiveness directly affects efficiency, it does not affect fairness. ⊚ true ⊚ false MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers the question. 13) Which of the following is NOT a contributing factor to wage determination? Version 1 3 A) gender B) education C) size of organization D) volunteer experience E) tenure 14) Pay for executives should supposedly to be tied to: A) the company's financial performance B) the company's reputation C) the financial needs of the employee D) the company's growth potential E) the cost of living index 15) Which of the following refers to a multiple meaning of compensation? A) societal B) employee C) stockholder D) relational E) personal 16) Which of the following is NOT part of an employee's total compensation? A) paid vacation B) health insurance C) relational returns D) cost-of-living adjustments E) pay 17) Which of the following best describes relational returns?
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