Evaluation Multiple Choice Quiz

1.

Compensation comprises these components ___ (choose all that apply).

A.

Benefits
B.

job security
C.

Incentives
D.

base pay

Correct Answer(s)
A. Benefits
C. Incentives
D. base pay

Explanation
Compensation comprises various components that contribute to an employee's overall remuneration. These components include benefits, incentives, and base pay. Benefits refer to additional perks or advantages provided by the employer, such as health insurance or retirement plans. Incentives are rewards or bonuses given to employees based on their performance or achievements. Base pay is the fixed amount of money an employee receives for their work, typically expressed as an hourly rate or annual salary. Therefore, the correct answer includes benefits, incentives, and base pay as the components of compensation.

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2.

This method of job evaluation allows a firm to generate a score for each job so that each job is placed most objectively in a hierarchical order of importance ___ (choose all that apply).

A.

. Job ranking
B.

Job classification
C.

Point factor method
D.

None of the above

Correct Answer
C. Point factor method

Explanation
The point factor method is a job evaluation method that allows a firm to generate a score for each job based on factors such as skill, effort, responsibility, and working conditions. This score helps to objectively place each job in a hierarchical order of importance, ensuring that jobs are classified and ranked accurately based on their relative value to the organization. Job ranking and job classification are not specific methods, but rather general concepts that can be used in job evaluation. Therefore, the point factor method is the correct answer as it directly addresses the question and provides a specific method for generating scores and ordering jobs.

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3.

This method of job evaluation allows a firm to place each job subjectively in a group of hierarchical order of importance ___.

A.

Job ranking
B.

Job classification
C.

Point factor method
D.

None of the above

Correct Answer
B. Job classification

Explanation
Job classification is the method of job evaluation that allows a firm to place each job subjectively in a group of hierarchical order of importance. This method involves categorizing jobs into different classes or grades based on their level of skill, responsibility, and importance within the organization. Each job is assigned to a specific class or grade, which helps in determining the appropriate salary, benefits, and career progression for employees. Job classification is a common method used by organizations to establish a clear and structured hierarchy of jobs within the company.

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4.

Factor weights represent ___:

A.

Job attributes such as the nature of job duties or KSAs that the company values and pays employees to possess as they help the company achieve its objectives
B.

The level of difficulty of job duty or KSA requirements faced by the employee
C.

The level of importance of the job duty or KSA requirement that the company values
D.

None of the above

Correct Answer
C. The level of importance of the job duty or KSA requirement that the company values

Explanation
Factor weights represent the level of importance of the job duty or KSA requirement that the company values.

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5.

Factor levels represent ____:

A.

Job attributes such as the nature of job duties or KSAs that the company values and pays employees to possess as they help the company achieve its objectives
B.

The level of difficulty of job duty or KSA requirements faced by the employee
C.

The level of importance of the job duty or KSA requirement that the company values
D.

none of the above

Correct Answer
B. The level of difficulty of job duty or KSA requirements faced by the employee

Explanation
Factor levels represent the level of difficulty of job duty or KSA requirements faced by the employee. This means that factor levels indicate the complexity or skill level needed for a particular job duty or knowledge, skills, and abilities (KSAs) required by the company. It helps the company determine the appropriate compensation and recognize the value of these job duties and KSAs in achieving its objectives.

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6.

Compensable factors in the point factor method are derived from the following dimensions from the Equal Pay Act of 1963 (please choose all appropriate answers):

A.

job duties
B.

Responsibility
C.

effort
D.

working conditions
E.

Educational requirements
F.

Skill

Correct Answer(s)
B. Responsibility
C. effort
D. working conditions
F. Skill

Explanation
The compensable factors in the point factor method are derived from the dimensions of responsibility, effort, working conditions, and skill. These factors are important in determining the value of a job and ensuring equal pay for equal work. Job duties, educational requirements, and other factors may also be considered, but they are not specifically mentioned in the Equal Pay Act of 1963 as the dimensions from which the compensable factors are derived.

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7.

Compensable factors represent ___:

A.

Ob attributes such as the nature of job duties or KSAs that the company values and pays employees to possess as they help the company achieve its objectives
B.

The level of difficulty of job duty or KSA requirements faced by the employee
C.

The level of importance of the job duty or KSA requirement that the company values
D.

None of the above

Correct Answer
A. Ob attributes such as the nature of job duties or KSAs that the company values and pays employees to possess as they help the company achieve its objectives

Explanation
Compensable factors represent job attributes such as the nature of job duties or KSAs (Knowledge, Skills, and Abilities) that the company values and pays employees to possess as they help the company achieve its objectives. This means that these factors are considered important by the company and are rewarded through compensation. They can include the level of difficulty of job duties or KSA requirements faced by the employee, as well as the level of importance of the job duty or KSA requirement that the company values.

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8.

Jobs are arranged in a hierarchical order based on their level of importance to the company to achieve ___ (please choose all appropriate answers):

A.

internal equity
B.

External equity
C.

Individual equity
D.

None of the above

Correct Answer
A. internal equity

Explanation
Jobs are arranged in a hierarchical order based on their level of importance to the company to achieve internal equity. Internal equity refers to the fairness and consistency in the compensation and rewards given to employees within the organization. By arranging jobs in a hierarchical order based on their importance, the organization ensures that employees are compensated fairly based on the value and significance of their roles in achieving the company's goals.

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9.

To ensure that the salaries in an organization are externally competitive, firms need to consider ___ (please choose all appropriate answers):

A.

The pay grade the job is in
B.

The market salaries of similar jobs
C.

the employee's own work experience the employee's own work performance
D.

. the employee's own work experience
E.

the employee's own level of seniority in the company

Correct Answer
B. The market salaries of similar jobs

Explanation
Firms need to consider the market salaries of similar jobs to ensure that the salaries in their organization are externally competitive. This means that they need to compare the salaries they offer to the salaries being offered by other organizations for similar positions. By doing so, they can ensure that their salaries are in line with industry standards and competitive enough to attract and retain top talent. Considering the pay grade, employee's work experience, work performance, and level of seniority in the company are also important factors in determining salaries, but they are not directly related to ensuring external competitiveness.

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10.

Each employee's base pay is determined by ___ (please choose all appropriate answers):

A.

the pay grade the job is in
B.

The market salaries of similar jobs
C.

The employee's own work experience
D.

The employee's own work performance
E.

the employee's own level of seniority in the company

Correct Answer(s)
A. the pay grade the job is in
B. The market salaries of similar jobs
C. The employee's own work experience
D. The employee's own work performance
E. the employee's own level of seniority in the company

Explanation
The base pay of each employee is determined by the pay grade of the job, the market salaries of similar jobs, the employee's own work experience, the employee's own work performance, and the employee's own level of seniority in the company. These factors are taken into consideration to ensure that the employee's pay is fair and reflective of their skills, experience, and performance, as well as the market value of the job and the employee's level of seniority within the organization.

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