MIE 330 FINAL EXAM 2024 WITH 100%
CORRECT ANSWERS
What are the three characteristics of an employer's side on pay? - correct answer✔✔ 1. Powerful tool
for meeting org goals
2. Impacts employees attitudes and behaviors
3. Influences the kinds of people attracted to/remain with the org
What are the two characteristics of an employee's side on pay? - correct answer✔✔ 1. Care about
fairness
2. Attach great importance on pay decisions when evaluating relationships with employers
Pay is a large (primarily fixed) _____ to orgs, so it must be what? - correct answer✔✔ Cost; managed
What two aspects are important to create a pay structure? - correct answer✔✔ 1. Job structure
2. Pay level
What are the four types of issues developing in a pay structure? - correct answer✔✔ 1. Legal
requirements
2. Market forces
3. Org goals
4. Pay level, job structure, and pay structure decisions
What are four legal requirement issues? - correct answer✔✔ 1. Equal pay for equal work
2. Minimum wage
3. Overtime pay
4. Restrictions on child labor
, What are two market force issues? - correct answer✔✔ 1. Product market
2. Labor market
What are four org goal issues? - correct answer✔✔ 1. High-quality workforce
2. Cost control
3. Equity/fairness
4. Legal compliance
What are four pay level, job structure, and pay structure decision issues? - correct answer✔✔ 1. Pay
rates
2. Pay grades
3. Pay ranges
4. Pay differentials
Government _____ affect pay structure! - correct answer✔✔ Regulations
What are the five areas of government regulations that affect pay structure? - correct answer✔✔ 1. EEO
2. Minimum wage
3. Overtime pay
4. Child labor
5. Prevailing wages
What law does the EEO support? - correct answer✔✔ Equal Pay Act
What are the six protected statuses of the Equal Pay Act? - correct answer✔✔ 1. Race
2. Sex
3. National Origin
4. Ethnicity
5. Age
CORRECT ANSWERS
What are the three characteristics of an employer's side on pay? - correct answer✔✔ 1. Powerful tool
for meeting org goals
2. Impacts employees attitudes and behaviors
3. Influences the kinds of people attracted to/remain with the org
What are the two characteristics of an employee's side on pay? - correct answer✔✔ 1. Care about
fairness
2. Attach great importance on pay decisions when evaluating relationships with employers
Pay is a large (primarily fixed) _____ to orgs, so it must be what? - correct answer✔✔ Cost; managed
What two aspects are important to create a pay structure? - correct answer✔✔ 1. Job structure
2. Pay level
What are the four types of issues developing in a pay structure? - correct answer✔✔ 1. Legal
requirements
2. Market forces
3. Org goals
4. Pay level, job structure, and pay structure decisions
What are four legal requirement issues? - correct answer✔✔ 1. Equal pay for equal work
2. Minimum wage
3. Overtime pay
4. Restrictions on child labor
, What are two market force issues? - correct answer✔✔ 1. Product market
2. Labor market
What are four org goal issues? - correct answer✔✔ 1. High-quality workforce
2. Cost control
3. Equity/fairness
4. Legal compliance
What are four pay level, job structure, and pay structure decision issues? - correct answer✔✔ 1. Pay
rates
2. Pay grades
3. Pay ranges
4. Pay differentials
Government _____ affect pay structure! - correct answer✔✔ Regulations
What are the five areas of government regulations that affect pay structure? - correct answer✔✔ 1. EEO
2. Minimum wage
3. Overtime pay
4. Child labor
5. Prevailing wages
What law does the EEO support? - correct answer✔✔ Equal Pay Act
What are the six protected statuses of the Equal Pay Act? - correct answer✔✔ 1. Race
2. Sex
3. National Origin
4. Ethnicity
5. Age
