HRM

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Question 1

The difference between profit sharing and stock ownership is:

Answer

		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.

4 points

Question 2

Which of the following examples would represent the ethical behavior of an executive?

Answer

		Inflate stock prices to receive bonuses and stock options
		Boost stock value through efficient operations, and effective leadership
		Buying or selling stock based on knowledge about the company's future
		Stretching accounting practices to present company performance in the best light

4 points

Question 3

Vesting rights are the rights of the:

Answer

		employee to receive a pension at retirement age regardless of the length of time he/she was employed with the company.
		employer to transfer or terminate employees before reaching retirement so they can avoid paying pension benefits.
		employee to receive a pension at retirement age as long as he/she was employed for a specified amount of time.
		employer to keep employee contributions to pension plans if they leave the company before the specified amount of time.

4 points

Question 4

Which of the following states that employees MUST have a choice about whether to retire?

Answer

		Employee Retirement Income Security Act (ERISA)
		Pension Benefit Guarantee Corporation (PBGC)
		Age Discrimination in Employment Act (ADEA)
		Older Workers Benefit Protection Act (OWBPA)

4 points

Question 5

The difference between a cash balance plan and a defined-benefit plan is:

Answer

		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.

4 points

Question 6

Which of the following is an example of an employee being paid based on a piecework rate?

Answer

		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

4 points

Question 7

Which of the following is a legally required benefit an employer must provide?

Answer

		Disability insurance
		Life insurance
		Worker's compensation
		Paid leave

4 points

Question 8

In addition to pay, what are some important aspects of making incentives work?

Answer

		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

4 points

Question 9

What is the difference between a straight piecework plan and a differential piecework plan?

Answer

		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.

4 points

Question 10

Stock options and stock purchase plans would be an example of which of the following?

Answer

		Long-term incentive-pay for executives
		Short-term incentive-pay for executives
		Employee empowerment for executives
		Performance measures for executives

List and explain the advantages and disadvantages of incentive pay, and describe how companies can overcome the disadvantages. Your response should be at least 75 words in length.

Compare and contrast the three common types of retirement plans offered by employers, and indicate whether they are contributory or noncontributory plans. What are the advantages and disadvantages of each one to the employee and to the employer?

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 should be at least 75 words in length.