Inquizitive - 4 | Compensation & Benefits

20 Questions | Total Attempts: 1256

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Inquizitive - 4 | Compensation & Benefits - Quiz


Questions and Answers
  • 1. 
    Compensation can be __ benefits.
    • A. 

      Monetary

    • B. 

      Non - monetary

    • C. 

      Both 1 & 2

    • D. 

      None of the above

  • 2. 
    Which of the following is a perquisite?
    • A. 

      Club Membership

    • B. 

      Provident Fund

    • C. 

      Medical Allowance

    • D. 

      Group Insurance

  • 3. 
    Which of the following is not an exemption to the Equal Pay Act for Equal Work? 
    • A. 

      Geographical Location

    • B. 

      Performance

    • C. 

      Seniority

    • D. 

      Overtime

  • 4. 
    Which of the following is not a part of direct compensation?
    • A. 

      HRA

    • B. 

      Medical Reimbursement

    • C. 

      Medical Assistance

    • D. 

      Bonus

  • 5. 
    A compensation program should address which of the following objectives?
    • A. 

      Legal compliance with all appropriate laws and regulations

    • B. 

      Cost-effectiveness for the organisation

    • C. 

      Internal, external and individual equity for employees

    • D. 

      All of the above

  • 6. 
    Variable pay is also known as
    • A. 

      Incentives

    • B. 

      Group Pay

    • C. 

      Performance Pay

    • D. 

      Both 2 and 3

  • 7. 
    Compensation management is ______ & _______ total compensation package with a systematic approach to providing value to employees in exchange for work performance.
    • A. 

      Designing & Implementing

    • B. 

      Planning & Implementing

    • C. 

      Designing & Paying

    • D. 

      None of the above

  • 8. 
    Most common and usual form of direct compensation paid in organisations is
    • A. 

      Base Pay & Benefits

    • B. 

      Base & Variable Pay

    • C. 

      Variable Pay & Benefits

    • D. 

      All of the above

  • 9. 
    Compensation given with base pay linked to individual team or organisational performance is classified as
    • A. 

      Variable Pay

    • B. 

      Salaries

    • C. 

      Base Pay

    • D. 

      Wages

  • 10. 
    Among the given below points, which is not an objective of compensation?
    • A. 

      To increase or maintain morale

    • B. 

      To determine basic wage and salary

    • C. 

      To improve the performance

    • D. 

      To reward the job performance

  • 11. 
    Wages usually adjusted for the prevailing rate of inflation are called
    • A. 

      Minimum Wages

    • B. 

      Real Wages

    • C. 

      Living Wages

    • D. 

      None of the above

  • 12. 
    Performance-based annual bonuses are an example of
    • A. 

      Base Salary

    • B. 

      Short-term Incentive Plan

    • C. 

      Long-term Incentive Plan

    • D. 

      None of the above

  • 13. 
    A security benefit voluntarily offered by employers to employees who lose their jobs
    • A. 

      COBRA

    • B. 

      Severance Pay

    • C. 

      Unemployment Compensation

    • D. 

      Supplemental Pay

  • 14. 
    Which of the following acts deals directly with discrimination in compensation?
    • A. 

      Payment of Wages Act

    • B. 

      Equal Remuneration Act

    • C. 

      Davis-Bacon Act

    • D. 

      Fair Labor Standards Act

  • 15. 
    Indirect compensation is represented by which of the following:
    • A. 

      Social Security Benefits 

    • B. 

      Short-term Incentive Pay

    • C. 

      Differential Pay

    • D. 

      Merit Pay

  • 16. 
    Which of the following is a legally mandated benefit?
    • A. 

      Social Security

    • B. 

      Unemployment Compensation

    • C. 

      Workers’ Compensation

    • D. 

      All of the above

  • 17. 
    Ensuring a fair balance between an employee’s contributions to the job and the rewards received in return from that job is the essence of
    • A. 

      Expectancy Theory

    • B. 

      Equity Theory

    • C. 

      Agency Theory

    • D. 

      None of the above

  • 18. 
    The competency based pay plan is more ________?
    • A. 

      Person Oriented

    • B. 

      Job Oriented

    • C. 

      Tenure Oriented

    • D. 

      Evaluation Oriented

  • 19. 
    The job evaluation process in which the raters categorize jobs into groups is called?
    • A. 

      Point Method

    • B. 

      Job Classification

    • C. 

      Job Grading

    • D. 

      Aligned Reward Strategy

  • 20. 
    Which compensation model gives flexibility to employees to choose his/her salary components from the basket of components offered by the company?
    • A. 

      Traditional Approach

    • B. 

      Combined Approach

    • C. 

      Cafeteria Approach

    • D. 

      Rationalized Approach

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