C236 Compensation and Benefits Exam with Answers
1. Total Rewards refers to all forms of pay and
compensation, tangible bene-
fits, and other intangible re-
wards that an organization pro-
vides.
2. Cash compensation influences:
Management perception
Government perception
Market perception...
3. base pay basic wage or salary paid em-
ployees in exchange for doing
their jobs
4. fringe benefits or perks Any financial extras beyond
the regular pay check, such
as health insurance, life insur-
ance, paid vacation and/or re-
tirement
5. To have an effective rewards system, you Employees previous salary
will NOT need to understand:
Profitability
Market conditions
Customer needs
Employees' previous salary
6. Portal-to-Portal Act of 1947 defines the term hours worked
that appears in the FLSA
, C236 Compensation and Benefits Exam with Answers
7. In loco parentis ("in the place of a parent") A principle whereby a person
(coach or teacher), by under-
taking the care and control of
a minor child, takes on the par-
ent's rights, duties and respon-
sibilities.
8. top-down budgeting Involves estimating the pay in-
crease budget for an entire
organisation and then allocat-
ing an amount to each man-
ager orsupervisor and then
the managers and supervisors
are then responsible for dis-
tributing the budget increases
among the members of their
groups
9. merit increase grid a grid that combines an em-
ployee's performance rating
with the employee's position in
a pay range to determine the
size and frequency of his or her
pay increases
10. total rewards includes base salary and benefits ONLY
11. meaningful work is or isn't considered a ISNT
discretionary employee benefit
12. discretionary employee benefit employment benefits that are
not mandated by law. They can
include a range of employee
benefits, such as health in-
surance, sick leave, maternity
leave, vacation leave, pension
plans, life insurance, and pre-
scription drug insurance.
, C236 Compensation and Benefits Exam with Answers
13. to create a strategic total rewards plan, benefits
you need to understand all of the follow-
ing except:
market
benefits
customers
none of the above
14. organizational performance includes all employee satisfaction
but:
new market share
profits
meeting customer needs
employee satisfaction
15. Business Strategy The collection of decisions, ap-
proaches, and activities that al-
low an organization to compete
and win
16. cost leadership strategy keep the costs, and hence
prices, of a product or service
below those of competitors and
to target a wide market
17. The average number of paid holidays per 8
year is
18. sabbatical leave When an employee is on leave
for performing work that has
value to society or that en-
hances their professional com-
petence. For example, some
executives are asked by their
companies to become involved
in urban development projects
and other full-time civic activi-
ties.
19. regular workweek
, C236 Compensation and Benefits Exam with Answers
Seven consecutive periods of
24-hour days
20. Regular rate of pay basic hourly rate of pay plus
any non-discretionary bonus-
es, shift differentials, produc-
tion bonuses, and commis-
sions earned.
21. Differentiation strategy Distinguishing an organiza-
tion's products from the prod-
ucts of competitors on dimen-
sions such as product design,
quality, or after-sales service.
22. Niche/Focus Strategy An organisation choose a
small and segmented market
and competes only in that
small arena
23. SWOT analysis identifying internal strengths
(S) and weaknesses (W) and
also examining external oppor-
tunities (O) and threats (T)
24. Critical Success Factors (CSFs) crucial steps companies per-
form to achieve their goals and
objectives and implement their
strategies
25. Human Resource Management (HRM) the policies, practices, and sys-
tems that manage the interface
between the organization and
its employees in order to en-
able long-term organizational
performance.
26. Total rewards strategy the combination of pay forms,
plans, policies, and practices
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