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(Strategic Compensation in Canada, 7e Parbudyal Singh, Richard Long) Test Bank
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(Strategic Compensation in Canada, 7e Parbudyal Singh, Richard Long)2024-2025 Test Bank
Chapters 1-13
(Correct Answer are marked with an aesterik *)
Chapter 1
1. Chapter 01-001
There is no one best compensation system that fits all
firms.
*a. True
b. False
2. Chapter 01-002
An effective compensation system is important to most
organizations because it can mean the difference between
company success and failure.
*a. True
b. False
3. Chapter 01-003
The main similarity between extrinsic rewards and intrinsic
rewards is that they both satisfy so-called higher order
needs such as survival and security.
a. True
*b. False
4. Chapter 01-004
A reward strategy is the plan for the mix of rewards to be
provided to organization members along with the means
through which they will be provided.
*a. True
b. False
5. Chapter 01-005
Compensation strategy includes the “how― and “how
much― in terms of compensation to be paid.
*a. True
b. False
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7. Chapter 01-007
A compensation system has two components: base pay and
performance pay.
a. True
*b. False
8. Chapter 01-008
The optimal compensation system is one that adds the most
value to the organization, after considering all its costs.
*a. True
b. False
9. Chapter 01-009
There is often one so-called best compensation system that
applies to a broad spectrum of organizations.
a. True
*b. False
10. Chapter 01-010
According to the "Road Map to Effective Compensation," the
first step is formulating your reward and compensation
strategy.
a. True
*b. False
11. Chapter 01-011
Which of the following statements is supported by evidence
in the textbook?
a. Canadian firms spend 50 to 80 percent of their
capital budgets on compensation.
b. Properly designed compensation systems usually
promote unproductive behaviour.
c. Reward systems should be static and rarely
reviewed.
*d. Canadian firms spend 40 to 70 percent of their
operating budgets on compensation.
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12. Chapter 01-012
Which of the following statements most accurately describes extrinsic
rewards?
a. They focus on factors inherent in the work itself-the job content.
b. They satisfy higher-order human needs.
*c. They include monetary and nonmonetary rewards and
come from the job context.
d. They involve skill variety, task identity, task
significance, autonomy, and feedback.
13. Chapter 01-013
Jackson, a service manager, loves his job. He particularly
appreciates the level of autonomy his job provides. From a
rewards perspective, which kind of reward appears to be
motivating Jackson?
a. Extrinsic
b. Incentives
*c. Intrinsic
d. Compensation
14. Chapter 01-014
Compensation means different things to different
stakeholders. For shareholders, what is an important
consideration?
a. take-home pay of employees
b. effectiveness of the compensation system in
attracting employees
*c. financial value of the compensation system to the
firm’s bottom line
d. fairness of the compensation system
15. Chapter 01-015
As a small business owner committed to the total rewards
approach to compensation, what do you need to establish
before you start to develop your compensation system?
a. a reward system
b. an incentive program
c. a compensation strategy
*d. a reward strategy
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16. Chapter 01-016
Which item is considered part of a compensation system?
*a. performance pay
b. flexible work schedules
c. positive organizational culture
d. work/life programs
17. Chapter 01-017
Which of the following best describes the term “reward
strategy―?
a. the means through which performance bonuses are
paid
*b. the mix of rewards provided to organization
members
c. the means for recognizing outstanding achievement
d. the means for identifying the key contextual
variables for an organization
18. Chapter 01-018
An owner of an enterprise asks you to describe the major
components of a compensation system. What would you exclude
from your description?
a. base salary
b. performance pay
c. employee benefits
*d. flexible work schedules and some element of job
autonomy
19. Chapter 01-019
Which of the following best explains intrinsic rewards?
a. Intrinsic rewards focus on increasing an
employee’s financial position.
*b. Intrinsic rewards are provided by job content.
c. Intrinsic rewards provide security and employee
services.
d. Intrinsic rewards relate to bonuses based on
performance.
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