SAINT HRM562 FINAL EXAM 2016 (A+++ Guarantee)

QuestionQuestion 1.1. What does it mean when the distribution of data is skewed to the right? (Points : 1)There is a lower frequency of larger values and the median is greater than the mean.There is a higher frequency of larger values and the median is greater than the mean.There is a lower frequency of larger values and the mean is greater than the median.There is a higher frequency of larger values and the mean is greater than the medianQuestion 2.2. These are reference points against which jobs within the company are judged. (Points : 1)Benchmark jobsRelevant labor marketsInternal labor marketsHuman resource capabilitiesQuestion 3.3. These represent the horizontal dimension of pay structures. (Points : 1)Pay rangesPay gradesJob evaluation pointsPay spreadsQuestion 4.4. In establishing pay grades, which pay rate is established first? (Points : 1)Minimum pay rateMidpointThird quartileMaximum pay rateQuestion 5.5. Alejandro Martinez is responsible for setting up the pay structure for his company. He believes that newly hired employees should not be paid as much as established employees. Accordingly, what type of pay structure should Mr. Martinez use? (Points : 1)BroadbandingSales incentivesTwo-tieredMerit payQuestion 6.6. What types of companies are most likely to utilize two-tier wage systems? (Points : 1)Unionized firmsSales firmsPublic sector companiesPrivate sector companiesQuestion 7.7. When examining competitors’ compensation offerings this term is used to describe the percentage of employer compensation costs that are applied to compensation and benefits. (Points : 1)MixQuartileStandard percentileNominal dollarsQuestion 8.8. In the regression analysis formula, what does the X represent? (Points : 1)Predicted salaryJob evaluation pointsThe slopeThe Y interceptQuestion 9.9. This theory suggests that an employee must regard his own ratio of merit increase pay to performance as similar to the ratio for other comparably performing people in the company. (Points : 1)Comparable ratio theoryComparable pay theoryEquality theoryEquity theoryQuestion 10.10. Which scenario would be appropriate for using a salary-only plan? (Points : 1)The salesperson is selling high-priced products with long lead times.The salesperson has substantial influence over sales.The company is looking to save money due to budget constraints.The company is looking to create competition among its sales staff.Question 11.11. This type of commission draw acts as a salary because employees are not obligated to repay the loans if they do not sell enough to cover the amount. (Points : 1)Nonrecurring drawSafe drawNonrecoverable drawGraduated drawQuestion 12.12. Which compensation policy best fits with a lowest-cost competitive strategy? (Points : 1)Market lead policyMarket lag policyMarket match policyAny of the above would be appropriateQuestion 13.13. In the regression analysis formula, what does the b represent? (Points : 1)Predicted salaryJob evaluation pointsThe slopeThe Y interceptQuestion 14.14. Jose Escobar conducts a survey of salaries at UB2 Enterprises and finds that 50% of the workers fall below the market pay average of $32,000. In which quartile do the workers at ERL Enterprises fall? (Points : 1)FirstSecondThirdFourthQuestion 15.15. In regression, what does it mean when the R2 = 1? (Points : 1)All the variation in market pay can be explained by the company’s job structure.None of the variation in market pay can be explained by the company’s job structure.All the variation in market pay can be explained by the company’s external pay rates.All of the variation in market pay can be explained by the benchmark rates.Question 16.16. With which type of sales commission plan does an employee earn a higher rate of commission for all sales made in a given period if the sales level exceeds a predetermined level? (Points : 1)Commission-plus-draw planStraight commissionMultiple-tiered commissionGraduated commissionQuestion 17.17. What represents the relationship between a company’s valuation of jobs based on job evaluation and the valuation of jobs within the external market, as assessed by compensation surveys? (Points : 1)Market-competitive pay structurePay gradePay rangeMarket pay lineQuestion 18.18. The NCS provided incidence and extensive data on which two types of compensation benefits? (Points : 1)Health insurance & retirementRetirement & stock optionsHealth insurance & payPay & stock optionsQuestion 19.19. What would Yolanda’s salary of $165,000 be considered if the means salary for B42DA, Inc., is $30,000 and the median salary is $32,000? (Points : 1)OverlieOutsiderOutlierOver layerQuestion 20.20. How are compa-ratios calculated? (Points : 1)Dividing the green circle rates mid-point by the normal pay rangeDividing the employee’s pay rate by the market line rateDividing an employee’s pay rate by the pay range midpointDividing the red circle rates by the normal pay rangeQuestion 21.21. Which of the following is a characteristic of integrated paid time off policies? (Points : 1)Such policies distinguish among reasons for absenceIndividuals have to justify reason for taking time offHoliday, vacation, sick leave, and personal leave are combinedCan lead to increased unscheduled absencesQuestion 22.22. Discretionary benefits are generally divided into which three categories? (Points : 1)Health benefits, intellectual enhancements, and paid time-offPension benefits, protection programs, and health benefitsServices, paid time-off, and protection programsIntellectual enhancements, health benefits, and servicesQuestion 23.23. A short-term incentive plan would most likely be used for which company employee? (Points : 1)A sanitation workerA new employee in trainingA mid-level managerThe company’s CEOQuestion 24.24. What is the most common type of life insurance policy offered by companies? (Points : 1)Group life insuranceTerm life insuranceWhole life insuranceUniversal insuranceQuestion 25.25. Companies establish retirement plans following which of these three design configurations? (Points : 1)Defined benefit, defined contribution, hybridQualified benefit, qualified contribution, hybridQualified benefit, nonqualified benefit, hybridFunded, unfunded, hybridQuestion 26.26. These rights provide employees with an opportunity to purchase a number of stocks at a designated price within a specified period of time. (Points : 1)Stock optionStock grantDispositionExercise of one’s grantQuestion 27.27. Which of the following NOT a condition manifesting short-term disability? (Points : 1)PregnancyRecovery from surgeryRecovery from illnessRecovery from major injuriesQuestion 28.28. Which of the following is an example of a welfare practice? (Points : 1)Overtime payRegular wagesWorkers’ compensation lawsEmployee recreational areasQuestion 29.29. Which type of contingent worker tends to have specialized skills that are in relatively limited supply in the labor market? (Points : 1)Part-time employeesTemporary employeesLeased employeesIndependent contractorsQuestion 30.30. Their placement fees are either a percentage of the client company’s payroll or a fixed fee per employee. (Points : 1)Temporary agency workerIndependent contractorsFreelancersLeased employeesQuestion 31.31. The average monthly benefit for all retired workers earning old age benefits as of April 2010 was how much? (Points : 1)$425$780$1,170$1,712Question 32.32. MomPop’s General Store can avoid paying workers’ compensation taxes if it keeps its staff to less than how many employees? (Points : 1)125010025Question 33.33. What is it called when Tanesha and Jaunita both work part-time to complete the duties of one full-time position? (Points : 1)Job sharingFreelancingDual staffingSafe harboringQuestion 34.34. Approximately how much was the cost per hour worked rate the legally required benefits cost in an average manufacturing company in 2010? (Points : 1)$24.63$2.30$2.64$2.27Question 35.35. This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A & B). (Points : 1)Medicare SelectMedicare Prescription Drug ProgramMedicare AdvantageMedigapQuestion 36.36. Medicare Part A is based on what type of health care option? (Points : 1)Preferred provider planMedical savings accountManaged care planFee-for-serviceQuestion 37.37. Full or partial reimbursement of training costs is which type of benefit? (Points : 1)Financial assistanceEmployee assistanceTuition reimbursementSabbatical leaveQuestion 38.38. Which of the following are the two main components of current core compensation? (Points : 1)Base pay & bonusesBase pay & legally-required benefitsBonuses & legally-required benefitsBase pay & discretionary benefitsQuestion 39.39. The safe harbor rule requires that the contingent worker be covered by whosepension plan? (Points : 1)The leasing companyThe client companyDepends on the contractual arrangement between the leasing company and the employerThe employee is responsible for his or her own pensionQuestion 40.40. This type of discretionary benefit would allow an employee to get help dealing with the effects of domestic violence. (Points : 1)Family assistance programEmployee assistance programWellness programEmployer assistance programQuestion 41.41. For part-time employees to be eligible to be in a company’s retirement plan, which two qualifications must be met? (Points : 1)age 21 or older & worked 2000 hours in a year of serviceage 21 or older & worked 1000 hours in a year of serviceage 18 or older & worked 2000 hours in a year of serviceage 18 or older & worked 1000 hours in a year of serviceQuestion 42.42. Outplacement assistance programs are best suited for which condition? (Points : 1)New plant openingsMergers and acquisitionsWorkforce increasesGlobal operationsQuestion 43.43. Approximately what percentage of part-time employees had access to employer-sponsored health insurance programs in 2010? (Points : 1)10%25%50%67%Question 44.44. In which state would an employee be eligible for an additional 13 weeks of emergency unemployment insurance (for a total of 33 weeks) under the Unemployment Compensation Act of 2008 due to excessively high state unemployment? (Points : 1)AlabamaNorth DakotaMichiganMontanaQuestion 45.45. This type of flexible work schedule allows employees to work four 10-hour days a week. (Points : 1)FlextimeCompressed work weekJob sharingRelaxed work standardsQuestion 46.46. A new employee comes into your office and ask you how many hours a year he has to work to qualify as a year towards his vesting requirements. What would you tell him? (Points : 1)1,0001,4008001,200Question 47.47. Who is responsible for compensating on-call employees? (Points : 1)The independent contractorThe hiring companyThe temporary agencyThe governmentQuestion 48.48. As of 2011, how much would you have to earn to qualify for one quarter of credit for OASDI coverage? (Points : 1)$625 a month$625 a year$920 a month$1,090 a yearQuestion 49.49. What is the economic reality test used to check for? (Points : 1)The financial dependence of independent contractorsThe solvency of employment agenciesThe financial background of new hiresHow close an employee is to being able to retire comfortablyQuestion 50.50. Which of the following is covered by Medicare Part A? (Points : 1)Home health careIV drugsSurgery expensesDoctor’s billsQuestion 51.51. An employee living in which place would benefit most from telecommuting due to minimizing expenses and commute time? (Points : 1)BostonOshkosh, WisconsinRural AlabamaWalla Walla, WashingtonQuestion 52.52. To receive OASDI disability benefits, Sung Lee’s disability would have to be expected to last at least how long? (Points : 1)6 months12 months3 months18 monthsQuestion 53.53. Using this executive compensation theory, shareholders negotiate the compensation contracts with the executive in hopes of aligning the executive’s interests with theirs. (Points : 1)AgencyTournamentSocial comparisonStrategicQuestion 54.54. In 2008, the average CEO earned how much more annually than the average food service worker? (Points : 1)12 times greater38 times greater74 times greater138 times greaterQuestion 55.55. As the vice-president, Sheila will receive short-term incentive compensation awards based on which two conditions? (Points : 1)Her rank and compensation levelHer age and departmentHer department and rankHer age and compensation levelQuestion 56.56. Which executive bonus amount varies with the extent to which a pre-established minimum performance level is met? (Points : 1)Target planPredetermined allocationPerformance-contingentDiscretionaryQuestion 57.57. Restricted stock generally allows the executives ownership of the stock after how many years? (Points : 1)20-305-103-51-3Question 58.58. In the end, Yolanda beat Tristen and Michel in a series of competitions among top-level managers to become CEO of National LemGlass. Which compensation theory did the company probably use? (Points : 1)TournamentCompetitionComparisonAgencyQuestion 59.59. These entitle an executive to purchase company stock in the future for a predetermined price. (Points : 1)Nonstatutory stock optionsIncentive stock optionsRestricted stock optionsPhantom stock optionsQuestion 60.60. The IRS considers Sylvia to be a highly compensated employee for Beautiful Pictures, Inc., which means she has at least one of which of the following qualifications in the preceding year? (Points : 1)1% owner in the top paid employee group5% owner in the top paid employee groupMade over $50,000Made over $75,000Question 61. 61. What are the considerations HR professionals should take into account when designing fringe benefit programs for expatriates? Your response should be 200-250 words in length. (Points : 45)Question 62. 62. Who are the key players in setting executive compensation? Detail their different roles. Your response should be 200-250 words in length. (Points : 45)