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| Chapter 14
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| Multiple Choice Questions
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This activity contains 17 questions.
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Providing equal pay for jobs of equal nature based on job evaluation ensures _______ in compensation administration.
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| external equity
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| internal equity
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| neutrality
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| None of the above
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Payment of cash rewards for the work extracted from the employee is normally called
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| direct compensation
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| indirect compensation
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| non-monetary compensation
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| None of the above
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Which of the following is the fixed component in compensation packages?
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| Profit-sharing
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| Base salary
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| Gain-sharing
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| Equity stock options
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Insurance schemes, retirement benefits and leave travel concession are examples of
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| indirect monetary compensation
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| direct monetary compensation
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| non-monetary compensation
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| None of the above
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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
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| equity theory
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| expectancy theory
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| agency theory
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| contingency theory
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Which of the following theory states that the employees work hard in the job only when they are sure of positive outcomes from that job?
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| Equity theory
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| Expectancy theory
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| Agency theory
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| Contingency theory
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Managers never own complete responsibility for the all the decisions made by them since they are not the owners of the business is the assumption of
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| equity theory
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| expectancy theory
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| agency theory
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| contingency theory
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Wages which are usually positioned above the minimum wages but below the living wages are described as
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| real wages
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| fair wages
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| minimum wages
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| living wages
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_______ ensure that the employees get an income which is sufficient for meeting their present and future necessities and contingencies.
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| Real wages
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| Minimum wages
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| Living wages
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| None of the above
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Wages usually adjusted for the prevailing rate of inflation is called
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| real wages
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| fair wages
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| minimum wages
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| living wages
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When there are several pay grades in a pay structure, it is called
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| traditional pay structure
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| broad-graded structure
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| job family structure
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| None of the above
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Which of the following factors is not an external influencing factor in wages and salary administration?
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| Cost of living
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| Labour legislations
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| Labour market conditions
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| Ability to pay
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Which of the following factors is not an external influencing factor in wages and salary administration?
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| Capacity of the organization to pay
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| Corporate policies and philosophy
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| Performance evaluation report
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| None of the above
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Which of the following is not an objective of executive compensation plans?
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| Separating ownership interest and controlling interest
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| Enhancing employee motivation, involvement and commitment
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| Promoting managerial efficiency
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| Attracting and retaining the best executives
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Provision for cars, parking lots and membership in country club are examples of
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| base salary of executives
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| short-term incentive plans
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| executive perks
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| None of the above
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Stock option and performance shares are examples of
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| base salary
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| short-term incentive plan
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| long-term incentive plan
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| All of the above
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Performance-based annual bonuses are an example of
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| base salary
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| short-term incentive plan
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| long-term incentive plan
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| All of the above
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Which internal factors influence the wage and salary administration?
Factors influencing wage and salary structure of an organization.
The organizations ability to pay..
Supply and demand of labour..
The prevailing market rate..
The cost of living..
Living wage..
Productivity..
Trade unions bargaining power..
Job requirements..
What are the 4 factors that affect wages?
Type of Employment..
Demand and Supply of Labor: Demand and supply is one of the important factors which influence the wage rates. ... .
Ability to Pay: Payment of wages also depends on the ability of a company to pay. ... .
Working Hours: ... .
Cost of Living:.
Which of the following factors is not an external influencing factors in wage and salary?
Ability of organization to pay.
Which of the following factors does not affect the wages?
The organisation structure is the correct option.