Compensation Management

Final Examination Booklet

Compensation Management

1

E x

a m

in a

tio n

E x

a m

in a

tio n

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.

2

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!