Compensation Management
Final Examination Booklet
Compensation Management
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Compensation Management
EXAMINATION NUMBER:
41271000
Complete the following exam by answering the questions and
compiling your answers into a word-processing document. When
you’re ready to submit your answers, refer to the instructions at
the end of your exam booklet.
Part A: Answer each of the following questions in one or two
paragraphs. Each answer is worth 15 points.
1. Compare and contrast the pay and employment practices
common in Japan with the pay and employment practices
common in Germany.
2. What are the factors that affect external competitiveness in
pay levels? How does each factor contribute to the overall
pay level and mix decisions?
3. What are some of the ways used to judge a job analysis to
ensure it’s an effective organizational tool?
Part B: Answer each of the following questions in one to four
sentences. Each answer is worth 5 points.
1. How can describing a present value of a stream of earnings
be used to help a possible new hire overcome objections to
a small starting salary?
2. Define differentials and discuss some of the major factors
that go into determining them.
3. List and describe the four major cost-containment strategies
for benefits.
Compensation Management
4. List and describe the four policy decisions that make up the
left side of the pay model.
5. Which type of performance appraisal is considered the
most effective for employee development? Why is this one
considered more effective than the others?
6. Describe what should happen with a performance-based pay
system if you’re using reinforcement theory as a basis for
your actions.
7. What are some of the characteristics of an executive,
according to the Fair Labor Standards Act exemptions?
8. What are the three objectives to using the balance sheet
approach when determining the wage level for expatriates?
9. List the main differences between a health maintenance
organization (HMO) and a preferred provider organization
(PPO).
10. Explain how an Improshare is developed and executed.
11. Define ranking and discuss the pros and cons of using this
as a job evaluation method.
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Examination 33
SUBMITTING YOUR ASSIGNMENT You can submit your final exam online:
1. On your computer, save a revised and corrected version of your project. Be sure to include your student number and exam number on your saved documents.
2. Go to http:www.pennfoster.edu and log in.
3. Go to Student Portal.
4. Click on Take Exam next to the lesson you’re working on.
5. Enter your e-mail address in the box provided. (Note: This information is required for online submission.)
6. Attach your file or files as follows:
a. Click on the Browse box.
b. Locate the file you wish to attach.
c. Double-click on the file.
d. Click on Upload File.
e. If you have more than one file to attach, repeat steps a–d.
7. Click on Submit Files.
Be sure to keep a backup copy of your completed assignment!