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ORGB 327 Final Questions and Correct Answers the Latest Update
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ORGB 327 Final Questions and Correct Answers the Latest Update
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ORGB 327 Final Questions and
Correct Answers the Latest Update
Compensation maxim
✓ An ethical principle that describes how compensation should be determined.
Determinants of pay
✓ The factors that influence pay, including external factors, organizational factors, job
factors, and individual factors.
Individual wage decision
✓ The wage decision that considers the issue of whether individuals performing the
same job should all receive the same rate of pay or different rates of pay.
Labor markets
✓ Segments of the overall job market used for analyzing wage and salary levels.
Pay secrecy
✓ A policy that restricts employees from discussing their pay and limits the amount of
information about pay that can be made public.
Salary
✓ A compensation arrangement that pays employees on a period basis rather than an
hourly one.
Wage-level decision
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✓ The wage decision that compares the wages paid in one organization with the pay in
other organizations for employees performing similar work.
Wage-structure decision
✓ The wage decision that examines how much money is paid for different jobs within
the same organization.
Wage survey
✓ A review of the wages, salaries, and benefits offered by different organizations.
Which of the following is NOT one of the three major decisions that must be
decided in designing a compensation system?
wage structure decision
wage compression decision
wage level decision
individual wage decision
✓ wage compression decision
✓
✓ The development of a sound wage and salary system requires three basic decisions.
(1) The wage-level decision concerns the overall level of an organization's
compensation. (2) The wage-structure decision concerns the pay awarded to
different jobs within an organization. (3) The individual wage decision concerns
individual incentives and merit pay.
Secret pay systems are better than open pay systems when
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the company is able to pay large incentives for performance.
employees tend to underestimate the pay of upper management.
there are large, unexplained wage differentials.
the performance of employees can be accurately measured.
✓ there are large, unexplained wage differentials.
✓
✓ If there are large, unexplained wage differentials in a company's pay structure, a
secret pay system would be preferable to an open system.
Which compensation objective is least compatible with the objective of
providing an adequate income?
compensation should be equitable
compensation should be cost-benefit effective
compensation should be motivating
compensation should be secure
✓ compensation should be cost-benefit effective
✓
✓ High wages that are adequate and able to attract qualified employees are inconsistent
with the objective of being cost-benefit effective.
Which of the following is NOT a strategic objective of compensation?
It should be consistent with all federal, state, and local laws.
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It should be fixed to guarantee the employee a stable income.
It should be motivating to the employee.
It should be cost-benefit effective for the organization.
✓ It should be fixed to guarantee the employee a stable income.
✓
✓ The strategic objectives of compensation are that it be legal, be adequate, be
motivating, be equitable, provide security, and be cost-benefit effective.
The pay ratio for lower-paid blue-collar workers versus highly-paid blue-collar
workers is about
1:5
1:7
1:3
1:10
✓ 1:3
✓
✓ The pay range for high- and low-paying jobs is usually a ratio between 1:2 and 1:3.
Pay levels for professionals are determined mainly by
union affiliation
profitability of the business.
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