HRMN 3420 KEY EXAM 2 Questions And
CORRECT Answers
which is the first step in constructing a pay structure? - CORRECT ANSWERS deciding on
the number of pay structures
which of the following describes midpoint pay value - CORRECT ANSWERS halfway mark
on the pay range of minimum and maximum rates
compensation budgets - CORRECT ANSWERS blueprints that describe the allocation of
monetary resources
what is the key advantage associated with nonrecurring merit pay increases - CORRECT
ANSWERS non-recurring merit pay increases strengthen the pay-for-performance link and
contain costs for the company
Juan works as a salesperson for a major farming equipment manufacturer. Usually, there is
considerable lead time between when he approaches a prospective client and when the sale is
finalized. Juan typically generates demand for the product and another member of the sales
team closes the sale. What type of commission would be most appropriate for Juan? - CORRECT
ANSWERS salary-only plan
which type of plan spreads the risk of selling between the company and its sales professionals -
CORRECT ANSWERS salary-plus-commission
Skill blocks are sets of skills (knowledge) necessary to perform a job. Before grouping skills into
blocks, a company needs to - CORRECT ANSWERS develop job descriptions; organize jobs
into job families
, Skills assessment is a consideration when going from job-based pay to person-focused pay.
Which of the following questions is NOT relevant to skills assessment? - CORRECT
ANSWERS which input should customers provide in the skills assessment process?
What major trend are companies following by using the broadbanding concept to consolidate
existing pay grades and ranges into fewer pay grades and wider ranges? - CORRECT
ANSWERS making the organizations flatter
a major limitation of the two-tiered pay system is that - CORRECT ANSWERS the company
has difficulty recruiting and retaining new hires who are brought in at a lower pay scale
when a company thoroughly examines its external market context and its internal factors, it is,
in essence, - CORRECT ANSWERS conducting a strategic analysis
in recent years, ________ have become part of compensation surveys because they are key
elements of market-competitive pay systems - CORRECT ANSWERS employee benefits
key piece of information that compensation specialists hope to gain from compensation surveys
is about - CORRECT ANSWERS the pay practices of their competitors and employee
preferences for different forms of compensation
which statement about compensation surveys is false - CORRECT ANSWERS published
compensation surveys are mostly inaccurate
what is the correct equation that models the prediction of the market pay line - CORRECT
ANSWERS predicted salary equals the Y intercept plus the slope multiplied by job
evaluation points
CORRECT Answers
which is the first step in constructing a pay structure? - CORRECT ANSWERS deciding on
the number of pay structures
which of the following describes midpoint pay value - CORRECT ANSWERS halfway mark
on the pay range of minimum and maximum rates
compensation budgets - CORRECT ANSWERS blueprints that describe the allocation of
monetary resources
what is the key advantage associated with nonrecurring merit pay increases - CORRECT
ANSWERS non-recurring merit pay increases strengthen the pay-for-performance link and
contain costs for the company
Juan works as a salesperson for a major farming equipment manufacturer. Usually, there is
considerable lead time between when he approaches a prospective client and when the sale is
finalized. Juan typically generates demand for the product and another member of the sales
team closes the sale. What type of commission would be most appropriate for Juan? - CORRECT
ANSWERS salary-only plan
which type of plan spreads the risk of selling between the company and its sales professionals -
CORRECT ANSWERS salary-plus-commission
Skill blocks are sets of skills (knowledge) necessary to perform a job. Before grouping skills into
blocks, a company needs to - CORRECT ANSWERS develop job descriptions; organize jobs
into job families
, Skills assessment is a consideration when going from job-based pay to person-focused pay.
Which of the following questions is NOT relevant to skills assessment? - CORRECT
ANSWERS which input should customers provide in the skills assessment process?
What major trend are companies following by using the broadbanding concept to consolidate
existing pay grades and ranges into fewer pay grades and wider ranges? - CORRECT
ANSWERS making the organizations flatter
a major limitation of the two-tiered pay system is that - CORRECT ANSWERS the company
has difficulty recruiting and retaining new hires who are brought in at a lower pay scale
when a company thoroughly examines its external market context and its internal factors, it is,
in essence, - CORRECT ANSWERS conducting a strategic analysis
in recent years, ________ have become part of compensation surveys because they are key
elements of market-competitive pay systems - CORRECT ANSWERS employee benefits
key piece of information that compensation specialists hope to gain from compensation surveys
is about - CORRECT ANSWERS the pay practices of their competitors and employee
preferences for different forms of compensation
which statement about compensation surveys is false - CORRECT ANSWERS published
compensation surveys are mostly inaccurate
what is the correct equation that models the prediction of the market pay line - CORRECT
ANSWERS predicted salary equals the Y intercept plus the slope multiplied by job
evaluation points
