WGU C202 MANAGING HUMAN CAPITAL FINAL EXAM
QUESTIONS AND VERIFIED ANSWERS () / A+
GRADE
unemployment insurance - CORRECT ANSWERS-provides temporary income during periods of
involuntary unemployment
workers' compensation insurance - CORRECT ANSWERS-pays for medical costs and
sometimes time off if an employee suffers a job-related sickness or accident, and survivor benefits in the
case of an employee's death in exchange for relinquishing the employee's right to sue the employer for
negligence
Family and Medical Leave Act of 1993 - CORRECT ANSWERS-requires most employers to
provide employees up to 12 weeks of unpaid leave to care for family members
Consolidated Omnibus Budget Reconciliation Act - CORRECT ANSWERS-provides a
continuation of group health coverage for employees and qualified beneficiaries that might otherwise be
terminated when an employee experiences a qualifying event
Customary benefits - CORRECT ANSWERS-commonly provided benefits that are viewed as an
entitlement by employees
insurance, retirement plans
Life Insurance - CORRECT ANSWERS-pays a beneficiary or beneficiaries a sum of money after
the death of an insured individual
Disability insurance - CORRECT ANSWERS-supplements workers' compensation insurance to
provide continued income in the event of an employee becoming disabled
health insurance - CORRECT ANSWERS-health care coverage for employees and their
dependents
,presenteeism - CORRECT ANSWERS-an employee physically comes to work but does not
function at his or her full potential
resource dependence theory - CORRECT ANSWERS-proposition that organizational decisions
are influenced by both internal and external agents who control critical resources
wage differentials - CORRECT ANSWERS-differences in wage between various workers, groups
of workers, or workers within a career field
labor market - CORRECT ANSWERS-all of the potential employees located within a geographic
area from which the organization might be able to hire
cost of living allowances - CORRECT ANSWERS-clauses in union contacts that automatically
increase wages base on the U.S. Bureau of Labor Statistics' cost of living index
market pricing - CORRECT ANSWERS-uses external sources of information about how others
are compensating a certain position to assign value to a company's similar job
Compensation surveys - CORRECT ANSWERS-surveys of other organizations conducted to
learn what they are paying for specific jobs or job classes
benchmark jobs - CORRECT ANSWERS-jobs that tend to exist across departments and across
diverse organizations allowing them to be used as a basis for compensation comparisons
job evaluation - CORRECT ANSWERS-a systematic process that uses expert judgement to
assess differences in value between jobs
ranking methos - CORRECT ANSWERS-subjectively compares jobs to each other based on
their overall worth to the organization
job classification method - CORRECT ANSWERS-subjectively classifies jobs into an exiting
hierarchy of grades and categories
,point factor method - CORRECT ANSWERS-uses a set of compensable factors to determine a
job's value. skill, resp, effort, working cond.
compensable factor - CORRECT ANSWERS-any characteristic used to provide a basis for
judging a job's value
skills, responsibilities, effort, working conditions - CORRECT ANSWERS-Four categories of
compensable factors
Hay Group Guide Chart - Profile Method - CORRECT ANSWERS-a point-factor system is used
to produce both a profile and a point score for each position.
know how
problem solving
accountability
working conditions
Know-how, problem solving, accountability, working conditions - CORRECT ANSWERS-Hay
Group Method based on four main factors
Position Analysis Questionnaire - CORRECT ANSWERS-a structured job evaluation
questionnaire that is statistically analyzed to calculate pay rates based on how the labor market is valuing
worker characteristics. a copyrighted, standardized, structured job analysis questionnaire. 6 sections
covering 187 job elements.
job pricing - CORRECT ANSWERS-the generation of salary structures and pay levels for each
job based on the job evaluation data
single rate system, pay grades and broadbanding - CORRECT ANSWERS-Three most common
job pricing systems
pay grade (pay scale) - CORRECT ANSWERS-the range of possible pay for a group of jobs
, broadbanding - CORRECT ANSWERS-using very wide pay grades to increase pay flexibility
internal equity - CORRECT ANSWERS-when employees perceive their pay to be fair relative to
the pay of other jobs in the organization
employee equity - CORRECT ANSWERS-the perceived fairness of the relative pay between
employees performing similar jobs for the same organization
external equity - CORRECT ANSWERS-when an organization's employees believe that their
pay is fair when compared to what other employers pay their employees who perform similar jobs
comparable worth - CORRECT ANSWERS-if two jobs have equal difficulty requirements, the
pay should be the same, regardless of who fills them
wage rate compression - CORRECT ANSWERS-starting salaries for new hires exceed the
salaries paid to experienced employees
golden parachute - CORRECT ANSWERS-lucrative benefits given to executives in the event the
company is taken over
Cost-of-living adjustments - CORRECT ANSWERS-pay increases to account for a higher cost of
living in one country versus another
Housing allowance - CORRECT ANSWERS-payments to subsidize or cover housing and related
costs
hardship premiums - CORRECT ANSWERS-increased salary for living in an area with a lower
quality of life, less safety, etc.
tax equalization payments - CORRECT ANSWERS-increased salary to make up for higher taxes
that reduce take-home pay and decrease employee's purchasing power
QUESTIONS AND VERIFIED ANSWERS () / A+
GRADE
unemployment insurance - CORRECT ANSWERS-provides temporary income during periods of
involuntary unemployment
workers' compensation insurance - CORRECT ANSWERS-pays for medical costs and
sometimes time off if an employee suffers a job-related sickness or accident, and survivor benefits in the
case of an employee's death in exchange for relinquishing the employee's right to sue the employer for
negligence
Family and Medical Leave Act of 1993 - CORRECT ANSWERS-requires most employers to
provide employees up to 12 weeks of unpaid leave to care for family members
Consolidated Omnibus Budget Reconciliation Act - CORRECT ANSWERS-provides a
continuation of group health coverage for employees and qualified beneficiaries that might otherwise be
terminated when an employee experiences a qualifying event
Customary benefits - CORRECT ANSWERS-commonly provided benefits that are viewed as an
entitlement by employees
insurance, retirement plans
Life Insurance - CORRECT ANSWERS-pays a beneficiary or beneficiaries a sum of money after
the death of an insured individual
Disability insurance - CORRECT ANSWERS-supplements workers' compensation insurance to
provide continued income in the event of an employee becoming disabled
health insurance - CORRECT ANSWERS-health care coverage for employees and their
dependents
,presenteeism - CORRECT ANSWERS-an employee physically comes to work but does not
function at his or her full potential
resource dependence theory - CORRECT ANSWERS-proposition that organizational decisions
are influenced by both internal and external agents who control critical resources
wage differentials - CORRECT ANSWERS-differences in wage between various workers, groups
of workers, or workers within a career field
labor market - CORRECT ANSWERS-all of the potential employees located within a geographic
area from which the organization might be able to hire
cost of living allowances - CORRECT ANSWERS-clauses in union contacts that automatically
increase wages base on the U.S. Bureau of Labor Statistics' cost of living index
market pricing - CORRECT ANSWERS-uses external sources of information about how others
are compensating a certain position to assign value to a company's similar job
Compensation surveys - CORRECT ANSWERS-surveys of other organizations conducted to
learn what they are paying for specific jobs or job classes
benchmark jobs - CORRECT ANSWERS-jobs that tend to exist across departments and across
diverse organizations allowing them to be used as a basis for compensation comparisons
job evaluation - CORRECT ANSWERS-a systematic process that uses expert judgement to
assess differences in value between jobs
ranking methos - CORRECT ANSWERS-subjectively compares jobs to each other based on
their overall worth to the organization
job classification method - CORRECT ANSWERS-subjectively classifies jobs into an exiting
hierarchy of grades and categories
,point factor method - CORRECT ANSWERS-uses a set of compensable factors to determine a
job's value. skill, resp, effort, working cond.
compensable factor - CORRECT ANSWERS-any characteristic used to provide a basis for
judging a job's value
skills, responsibilities, effort, working conditions - CORRECT ANSWERS-Four categories of
compensable factors
Hay Group Guide Chart - Profile Method - CORRECT ANSWERS-a point-factor system is used
to produce both a profile and a point score for each position.
know how
problem solving
accountability
working conditions
Know-how, problem solving, accountability, working conditions - CORRECT ANSWERS-Hay
Group Method based on four main factors
Position Analysis Questionnaire - CORRECT ANSWERS-a structured job evaluation
questionnaire that is statistically analyzed to calculate pay rates based on how the labor market is valuing
worker characteristics. a copyrighted, standardized, structured job analysis questionnaire. 6 sections
covering 187 job elements.
job pricing - CORRECT ANSWERS-the generation of salary structures and pay levels for each
job based on the job evaluation data
single rate system, pay grades and broadbanding - CORRECT ANSWERS-Three most common
job pricing systems
pay grade (pay scale) - CORRECT ANSWERS-the range of possible pay for a group of jobs
, broadbanding - CORRECT ANSWERS-using very wide pay grades to increase pay flexibility
internal equity - CORRECT ANSWERS-when employees perceive their pay to be fair relative to
the pay of other jobs in the organization
employee equity - CORRECT ANSWERS-the perceived fairness of the relative pay between
employees performing similar jobs for the same organization
external equity - CORRECT ANSWERS-when an organization's employees believe that their
pay is fair when compared to what other employers pay their employees who perform similar jobs
comparable worth - CORRECT ANSWERS-if two jobs have equal difficulty requirements, the
pay should be the same, regardless of who fills them
wage rate compression - CORRECT ANSWERS-starting salaries for new hires exceed the
salaries paid to experienced employees
golden parachute - CORRECT ANSWERS-lucrative benefits given to executives in the event the
company is taken over
Cost-of-living adjustments - CORRECT ANSWERS-pay increases to account for a higher cost of
living in one country versus another
Housing allowance - CORRECT ANSWERS-payments to subsidize or cover housing and related
costs
hardship premiums - CORRECT ANSWERS-increased salary for living in an area with a lower
quality of life, less safety, etc.
tax equalization payments - CORRECT ANSWERS-increased salary to make up for higher taxes
that reduce take-home pay and decrease employee's purchasing power
