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HRM 531 Week 2 Quiz

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HRM 531 Week 2 Quiz -

1. Which of the following laws established the first national minimum wage?

  1. Fair Labor Standards Act (1938)
  2. Davis–Bacon Act (1931)
  3. McNamara–O'Hara Service Contract Act (1965)
  4. Walsh–Healey Act (1936)

2. The gatekeeper in a managed care health insurance plan is the

  1. the employee
  2. primary care physician
  3. insurance cost monitor
  4. the HR representative

3. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a

  1. defined-contribution plan
  2. defined-benefit plan
  3. defined-performance plan
  4. defined-retirement plan

4. Which of the following is NOT another name for gain sharing? 

  1. Control-based compensation
  2. Improshare
  3. The Scanlon plan
  4. The Rucker plan

5. At a comprehensive point of view, a(n) _____ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions. 

  1. employee stock ownership plan
  2. merit-pay method
  3. competency-based pay system
  4. organizational reward system

6. One downside of team incentives is that  

  1. managers do not feel that incentives motivate employees equally
  2. it does nothing to educate employees about the factors of business success and capitalism
  3. most employees do not feel that their jobs have a direct impact on profits
  4. it does not provide retirement income to employees

7. ______________cover 128 million workers in the United States.

  1. Workers’ compensation programs
  2. Defined-benefit programs
  3. Defined-contribution programs
  4. Point-of-service programs

8. Open pay systems tend to work best when

  1. business strategy matches the organizational development stage
  2. there is a union to negotiate pay increases
  3. job performance can be measured objectively
  4. effort and performance are related closely over a long time span

9. ________________ provides a supplemental, one-time payment when death is accidental, and it provides a range of benefits when employees become disabled—that is, when they cannot perform the main functions of their occupations.

  1. Medical underwriting
  2. A point-of-service plan
  3. A preferred provider payment
  4. Disability coverage

10. In the United States, salary discussions among employees are protected under

  1. Salary.com
  2. the Equal Pay Act (1963)
  3. the Fair Labor Standards Act (1938)
  4. the National Labor Relations Act (1935)

11. Evidence indicates that the perceived value of benefits rises when employers introduce

  1. flexible supervisors
  2. more jobs
  3. choice through a flexible benefits package
  4. higher salaries

12. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it.

  1. Retirement pay
  2. Severance pay
  3. Short-term disability
  4. Cost shifting

13. Gain sharing plans consist of all EXCEPT which of the following elements:

  1. An involvement system
  2. A financial bonus
  3. An internal equity
  4. A philosophy of cooperation

14. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?

  1. COBRA (1985)
  2. ADA (1990)
  3. ERISA (1974)
  4. HIPAA (1996)

15. The Sarbanes–Oxley Act of 2002 requires that

  1. executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company
  2. the Securities and Exchange Commission meet annually to discuss bonuses
  3. companies can seek repayment for incentives paid that were later found to be materially inaccurate
  4. the minimum wage change each year

16. One strategic issue that should influence the design of benefits is an organization’s

  1. value to employees
  2. plan to pay panel
  3. shareholder’s form
  4. stage of development

17.__________ bridge the gap between organizational objectives and individual expectations and aspirations.

  1. Corporate compensation systems
  2. Financial systems
  3. Rewards
  4. Employment practices

18. In labor economics, __________________ theory holds that unless an employee can produce a value equal to the value received in wages, it will not be worthwhile to hire that worker.

  1. the willingness to reduce the size of the workforce
  2. the marginal productivity
  3. the percent of company offerings
  4. the concern with pay for position

19. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is

  1. pay inequality
  2. pay secrecy
  3. pay security
  4. pay compression

20. Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow a norm of fairness and to use it as a basis for distributing rewards.

  1. the internal labor market
  2. the external labor market
  3. organizational needs
  4. equity theory

21. What is driving the increasing costs of healthcare?

  1. Increasing numbers of legal immigrants
  2. Rising cost of childcare
  3. Passage of the health care exchanges
  4. Aging population and an increase in obesity

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