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A compensation plan that compensates employees for their job-related skills and knowledge,

A compensation plan that compensates employees for their job-related skills and knowledge, not for their job titles is referred to as

A) variable pay.

B) competency based pay.

C) lump sum pay.

D) skill-based pay.

82) Which performance-based pay system assumes that employees who know more are more valuable to the firm and, therefore, they deserve a reward for their efforts in acquiring new skills? 

A) variable pay

B) merit pay

C) lump sum pay

D) skill-based pay

 

83) What is a compensation plan called that rewards employees for the capabilities they attain? 

A) variable pay

B) competency based pay

C) lump sum pay

D) skill-based pay

 

84) As a basis for compensation changes, labor unions tend to favor

A) employee job performance.

B) experience.

C) seniority.

D) employee skill.

 

85) The provision of vacation days is generally provided on the basis of

A) organizational performance.

B) seniority.

C) membership in the organization.

D) experience.

 

86) The statement, "It's not what you know, it's who you know"

A) is absolutely not true.

B) contains an element of truth.

C) tells the entire story.

D) if reflected in management decisions, it would have little effect on employee morale.

 

87) The two executives mentioned in your text who credited their success to being at the right place at the right time, also emphasized

A) political pull.

B) sheer luck.

C) ability.

D) relatives.

88) Which type incentive plan bases rewards on overall team performance?

A) team-based pay

B) piece work

C) incentive

D) defined

 

89) A compensation plan that results in the distribution of a predetermined percentage of the firm's profits to employees is referred to as

A) team sharing.

B) piece work.

C) profit sharing.

D) defined sharing.

 

90) A profit sharing plan that provides payment to employees in cash or stock as soon as profits have been determined is referred to as

A) deferred plan.

B) current plan.

C) profit plan.

D) defined plan.

Dec 11 2019 View more View Less

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