MQM 323 Exam 3 Question and answer verified to pass
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Course
MQM 323
Institution
MQM 323
MQM 323 Exam 3 Question and answer verified to pass
Equity theory of motivation is based off of? - correct answer The premise that people try to maintain a balance between what they perceive as their contribution and reward
When an employee is on a short-term overseas assignment, what kind ...
MQM 323 Exam 3 Question and answer
verified to pass
Equity theory of motivation is based off of? - correct answer ✔The premise
that people try to maintain a balance between what they perceive as their
contribution and reward
When an employee is on a short-term overseas assignment, what kind of
salary plan would eliminate the need to make frequent changes in the
employee's base salary? - correct answer ✔home-based salary plan
What is a job evaluation? - correct answer ✔A systematic comparison of jobs
to determine the worth of the job
What is job classification? - correct answer ✔It groups jobs as having the
approximate same value for pay purposes
What is the first step to the market-competitive plan using the point-factor
method? - correct answer ✔choosing benchmark jobs
What is an advantage to using pay ranges for each pay range? - correct
answer ✔They allow employers to be more flexible when attracting
experienced candidates
What is job complexity? - correct answer ✔It reflects span of control when
determining compensation for senior managers
Competency-based plan plays employees for? - correct answer ✔The skills
and knowledge they are capable of using instead of title of the job currently
held
,What does broadbanding decrease? - correct answer ✔The number of
salary grades but expands the range of jobs and pay levels in each
Dodd-Frank Laws - correct answer ✔Give stakeholders in an organization
the opportunity to impact executive pay levels
What can the company do when they hire an independent contractor to
perform work? - correct answer ✔They are able to maintain control over the
rest of the work
Mechanics are an example of what type of employee according to the Fair
Labor Standards Act? - correct answer ✔Nonexempt
What are market-competitive plans? - correct answer ✔Plans that balance
the relative value of each job internally with external rates paid by other
employers for similar positions
What is a pay grade? - correct answer ✔Grouping together relatively equal
jobs from different departments for pay purposes
What is a "red circle" pay rate? - correct answer ✔A pay rate that is too high
relative to other jobs
What are factors in determining executive pay? - correct answer ✔Company
size and performance, the executive's human capital, job complexity and the
ability to pay
What is least likely to be used in an analytical job? - correct answer
✔Leadership
, What is the purpose of the Sarbanes-Oxley Act? - correct answer ✔To make
executives personally liable for lapses in oversight of the company's finances
What are total rewards? - correct answer ✔Non-financial and intangible
rewards
Promotions are an example of what type of rewards in regards to
compensation management? - correct answer ✔Intangible rewards
What is employee compensation? - correct answer ✔all forms of pay or
rewards related to one's job
What type of method is used when the organization makes an ordered list of
each job based on overall difficulty? - correct answer ✔The ranking method
What is an example of a form of an intangible reward a company might offer?
- correct answer ✔Casual office climate
What are two powerful motivators? - correct answer ✔Job design and
responsibility
What type of rewards can help companies have less turnover? - correct
answer ✔Non-financial rewards
Earnings-at-risk are an example of what type of pay plan? - correct answer
✔Variable pay plan
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