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C12: Variable Pay: Improving Performance with Variable Pay Exam/29 Q’s and A’s
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C12: Variable Pay: Improving Performance with Variable Pay Exam/29 Q’s and A’s
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C12: Variable Pay: ImprovingPerformance with Variable Pay Exam/29
Q’s and A’s
Which of the following describes a purpose of variable pay?
(A) To reward individuals for acquisition of new skills and competencies
(B) To ensure the individuals' value relative to the labor market
(C) To differentiate the pay of individuals who achieve results from those
who do not
(D) To reward individuals for their sustained performance over time. - -(C) To
differentiate the pay of individuals who achieve results from those who do
not
- What business strategy often includes a combination of price, quality,
dependability and ease of purchase that competitors cannot match?
(A) Operational excellence
(B) Product/service leadership
(C) Customer intimacy - -(A) Operational excellence
- Which of the following business objectives would relate most to a
product/service leadership strategy?
(A) Improve operational efficiency
(B) Time from innovation to market
(C) Customer attraction and retention
(D) Reduce costs - -(B) Time from innovation to market
- In which of the following stages of the business life cycle would an
organization generally be focused on maintaining/increasing market share,
improving productivity and reducing cost of sales?
(A) Start-up
(B) Growth
(C) Mature
(D) Decline - -(C) Mature
- Which of the following business objectives would relate most to the start-
up stage of a business life cycle?
(A) Maximize profits
(B) Product quality
(C) Maintain/increase market share
, (D) Obtaining capital - -(D) Obtaining capital
- What influences can variable pay provide in relation to organizational
performance?
(A) Customer satisfaction, brand awareness and product quality
(B) Focus, alignment, motivation and reinforcement
(C) Attraction, penetration, innovation and collaboration
(D) Growth, efficiency and capability - -(B) Focus, alignment, motivation and
reinforcement
- What are the three categories of variable pay?
(A) Cash, noncash and equities
(B) Quarterly, annual and spot bonuses
(C) Incentives, bonuses and recognition - -(C) Incentives, bonuses and
recognition
- Which of the following plans is a type of long-term incentive plan?
(A) Equity-based plan
(B) Profit-sharing plan
(C) Individual performance-based plan
(D) Performance-sharing plan - -(A) Equity-based plan
- Which individual performance-based plan would be most appropriate for an
account representative with a high degree of influence over company sales?
(A) Performance against predetermined objectives (MBO) plan
(B) Output-based plan
(C) Commission plan - -(C) Commission plan
- Which of the following is an example of an appreciation-only equity-based
plan?
(A) Performance shares
(B) Restricted stock
(C) Stock grant
(D) Stock options - -(D) Stock options
- Which of the following is considered an objective for long-term nonequity-
based plans?
(A) Allow flexibility of design
(B) Utilize stock
(C) Promote a more balanced approach
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