Complete the mcq:
1 What is the difference between a straight piecework plan and a differential piecework plan?
Straight piecework is the same rate per piece; differential piecework is when the rate increases if a greater amount is produced.
Differential piecework is the same rate per piece; straight piecework is when the rate increase if a greater amount is produced.
Straight piecework is pay for extra work done in a certain amount of time; differential piecework is when the rate increases if a greater amount is produced.
Differential piecework is pay for extra work done in a certain amount of time; straight piecework is when the rate increases if a greater amount is produced.
2 When a company has a well-designed and effective incentive pay plan:
employees see no value in the rewards given.
employees feel they cannot meet performance standards.
employees believe the reward system is fair.
employees may ignore goals that are rewarded.
3 By the year 2014, health insurance will NO longer be an optional benefit. Automatic enrollment in health insurance will be required for:
small businesses (up to 25 employees).
medium companies (25-50 employees).
companies with more than 50 employees.
companies with more than 200 employees.
4 In addition to pay, what are some important aspects of making incentives work?
Performance measures are preset, passed down by upper management and unclear
Employee participation and communication are welcomed, clear, and frequent
Employees participate initially then management makes changes without regard to employees
Performance measures are decided without employee involvement but clearly communicated
5 Stock options and stock purchase plans would be an example of which of the following?
Long-term incentive-pay for executives
Short-term incentive-pay for executives
Employee empowerment for executives
Performance measures for executives
6 Which of the following is an example of an employee being paid based on a piecework rate?
A pay increase based on performance appraisal ratings
Being paid extra for work done in less than a specified amount of time
Pay calculated as a percentage of sales
Pay based on the amount of product produced
7 Which of the following are provided by the Social Security Act and the amendments that were later added by Congress and referred to as
Old Age, Survivors, Disability, and Health Insurance (OASDHI)?
Survivors, disability, hospital, and supplemental medical insurance
Survivors, dismemberment, hospital, and medical insurance
Supplemental, death, hospital, and medical insurance
Supplemental, dismemberment, hospital, and medical insurance
8 The difference between profit sharing and stock ownership is:
there is more risk involved with profit sharing than with stock ownership.
profit sharing becomes part of a base salary and stock ownership does not.
stock ownership becomes part of a base salary and profit sharing does not.
profit sharing encourages ownership thinking and stock ownership is ownership.
9 Which of the following states that employees MUST have a choice about whether to retire?
Employee Retirement Income Security Act (ERISA)
Pension Benefit Guarantee Corporation (PBGC)
Age Discrimination in Employment Act (ADEA)
Older Workers Benefit Protection Act (OWBPA)
10 The difference between a cash balance plan and a defined-benefit plan is:
a cash balance plan earns interest at a predefined rate, and a defined-benefit plan guarantees a certain level of retirement income.
a defined-benefit plan earns interest at a predefined rate, and a cash balance plan guarantees a certain level of retirement income.
a cash balance plan specifies the size of investment, and a defined-benefit plan earns interest at a predefined rate.
a defined-benefit plan specifies the size of investment, and a cash balance plan guarantees a certain level of retirement income.
11 Give a brief description of the 5 types of individual performance pay, and recommend which type of job would benefit by using which type of performance pay.
Your response be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
12 In your opinion, what types of optional benefits have come to be "expected" by employees, and why would it be a good idea for employers to offer them as part of their benefits package?
Your response be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations
13 You are the HR Supervisor responsible for developing the company objectives that will be listed in the new benefits package. What needs to be considered when selecting employee benefits?
Your response be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
14 Option 1: Identify a form of incentive pay you have earned at a job. Discuss how it was determined or what it was based on, and if you feel that it was really an incentive.
Option 2: Discuss the benefits you have had at a job. Were there any additional benefits other than those required by law and did you consider them of value? Do you feel they were easy to access? Were they easy to understand?