Hrmt 301 002 Quiz # 2
HRMT 301 002 Quiz #2 assesses understanding of key HR concepts such as internal equity, profit-sharing plans, and flexible benefits programs. It focuses on the socialization process between employee and employer, and components of total rewards, crucial for students and professionals in HR.
Quiz Preview
- 2.
Pay rates must be equitable for each employee relative to other pay rates inside the organization. This is known as
-
Internal equity
-
External equity
-
wage compensation
-
Compensation plan
Correct Answer
A. Internal equityExplanation
Internal equity refers to the fairness and equality of pay rates within an organization. It means that each employee's pay rate should be equitable in relation to the pay rates of other employees in similar positions. This ensures that there is no discrimination or bias in the compensation structure and promotes a sense of fairness and equality among employees.Rate this question:
-
- 3.
A type of incentive plan that is organization-wide and that provides employees with a share of the organization's profits in a specified period is a(n)
-
Individual incentive plan
-
Gainsharing plan
-
Group incentive plan
-
Profit-sharing plan
Correct Answer
A. Profit-sharing planExplanation
A profit-sharing plan is a type of incentive plan that is organization-wide and provides employees with a share of the organization's profits in a specified period. This means that employees are rewarded based on the overall profitability of the company, rather than their individual performance. It encourages employees to work towards the success of the organization as a whole and can help to foster a sense of ownership and teamwork among employees.Rate this question:
-
- 4.
The following are one of the five components of total rewards except
-
Compensation
-
Incentive Pay
-
Development and career opportunities
-
Work-life programs
Correct Answer
A. Incentive PayExplanation
Incentive pay is not considered as one of the five components of total rewards. Total rewards typically include compensation, development and career opportunities, work-life programs, and other benefits that an organization offers to its employees. Incentive pay, on the other hand, is a form of additional compensation that is given to employees as a reward for achieving certain goals or targets. While it is an important aspect of employee motivation and performance, it is not classified as a component of total rewards.Rate this question:
-
- 5.
Compensable factors are broken down into the following categories except for
-
Level
-
Skill
-
Working Conditions
-
Responsibilty
Correct Answer
A. LevelExplanation
Compensable factors are aspects or characteristics of a job that are used to determine its value and the appropriate level of compensation. These factors typically include skill requirements, working conditions, and responsibilities associated with the job. However, "level" is not a category of compensable factors. It is likely that "level" refers to the hierarchical position or grade of an employee within an organization, which is not considered a compensable factor.Rate this question:
-
- 6.
Individualized benefit plans to accommodate employee needs and preferences are known as
-
Supplemental unemployment benefit (SUB)
-
Flexible Benefits Programs
-
Extended Health Care Benefits
-
Standard Benefits Program
Correct Answer
A. Flexible Benefits ProgramsExplanation
Flexible Benefits Programs are individualized benefit plans that are designed to accommodate the specific needs and preferences of employees. These programs offer a range of benefits and allow employees to choose the ones that best suit their personal circumstances. This flexibility ensures that employees have access to the benefits that are most relevant to them, promoting employee satisfaction and engagement. By tailoring the benefits to individual needs, Flexible Benefits Programs can help attract and retain top talent within an organization.Rate this question:
-
- 7.
The final step in the training process is the
-
Instructional Design
-
Implementation
-
Evaluation of Training
-
Needs Assessment
Correct Answer
A. Evaluation of TrainingExplanation
The final step in the training process is the evaluation of training. This step involves assessing the effectiveness of the training program to determine if it has achieved its objectives and if the participants have gained the necessary knowledge and skills. Evaluation helps identify any areas that need improvement and provides feedback for future training programs. It allows organizations to measure the return on investment of their training initiatives and make informed decisions about future training needs.Rate this question:
-
- 8.
A graphic description of the relationship between the value of the job and the average wage paid for this job is a
-
Job Class
-
Pay Range
-
Graphic Rating Scale
-
Wage curve
Correct Answer
A. Wage curveExplanation
A wage curve is a graphic representation that shows the relationship between the value of a job and the average wage paid for that job. It provides a visual depiction of how wages vary based on the value or importance of a particular job. The curve can help employers determine appropriate wage levels for different job classes and ensure that employees are fairly compensated based on the value they bring to the organization.Rate this question:
-
- 9.
A share unit plan that provides units subject to achievement or financial targets.
-
Restricted Share Unit Plan
-
Performance Share Unit Plan
-
Deferred Shared Unit Plan
-
Joint Share Unit Plan
Correct Answer
A. Performance Share Unit PlanExplanation
The correct answer is Performance Share Unit Plan. This type of plan provides share units to employees based on their achievement of specific performance or financial targets. It is designed to incentivize and reward employees for their individual or team performance. Unlike other share unit plans, such as the Restricted Share Unit Plan or Deferred Share Unit Plan, the Performance Share Unit Plan focuses specifically on performance-based criteria for the allocation of share units. The Joint Share Unit Plan is not a commonly known term and does not align with the description provided.Rate this question:
-
- 10.
The Canada/Quebec Pension Plan (C/QPP) is a program the provides the following benefits except
-
Retirement Income
-
Old Age Security
-
Survivor or death benefits
-
Disability Benefits
Correct Answer
A. Old Age SecurityExplanation
The Canada/Quebec Pension Plan (C/QPP) provides retirement income, survivor or death benefits, and disability benefits. However, it does not provide Old Age Security. Old Age Security is a separate program in Canada that provides a basic income to seniors who meet certain eligibility criteria.Rate this question:
-
- 11.
Unpaid time off to rejuvenate or pursue personal goals are known as
-
Compassionate Care Leave
-
Maternity Leave
-
Vacation
-
Sabbaticals
Correct Answer
A. SabbaticalsExplanation
Sabbaticals refer to unpaid time off that employees can take to rejuvenate or pursue personal goals. Unlike compassionate care leave, which is typically taken to care for a seriously ill family member, or maternity leave, which is specific to new parents, sabbaticals are more general in nature and can be used for various purposes. Similarly, vacation time is also a form of time off, but it is usually paid and used for relaxation or travel. Sabbaticals, on the other hand, are unpaid and often longer in duration, allowing employees to take an extended break from work to recharge or focus on personal interests.Rate this question:
-
Quiz Review Timeline (Updated): Mar 18, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 18, 2023Quiz Edited by
ProProfs Editorial Team -
Mar 13, 2016Quiz Created by
EMN24
Back to top