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C17 Exam Dumps - Market Pricing - Conducting a Competitive Pay Analysis

Question # 4

Which survey data might incur a higher investment of time as well as the potential for antitrust violation?

A.

Conducting own survey

B.

Custom third-party surveys

C.

Published surveys

D.

All of the above

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Question # 5

How is the value of stock awards typically shown in survey data?

A.

As part of total cash compensation

B.

As a monetary figure

C.

As the number of shares granted

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Question # 6

Which kind of bonuses are included in the salary survey data?

A.

Retention bonuses

B.

Spot bonuses

C.

Project completion bonuses

D.

Annual bonuses

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Question # 7

How are salary ranges typically established in a salary survey?

A.

By taking the average of reported salaries

B.

By taking the median of reported salaries

C.

By using a statistical formula to determine the range

D.

By taking the highest and lowest reported salaries and creating a range

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Question # 8

What factors should be considered when weighting market data?

A.

Compensation philosophy and strategy only

B.

Quality of surveys only

C.

Quality of job match only

D.

Sample size only

E.

Compensation philosophy and strategy, quality of surveys, quality of job match, sample size

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Question # 9

What method can be used to establish a unique market rate for a hybrid job?

A.

Averaging

B.

Blending

C.

Extrapolation

D.

Regression

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Question # 10

Which of the short-term variable pay program involves more measures than a single financial performance measure?

A.

Spot bonuses

B.

Performance bonuses

C.

Incentive bonuses

D.

Performance sharing

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Question # 11

What are the tips for compensation communication?

A.

Convey a different message to different employees

B.

Align with individual goals

C.

Encourage secrecy

D.

Convey a consistent message, align with mission, vision, and business strategy, encourage feedback, follow-up on feedback

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Question # 12

What makes compensation professional a valuable contributor in the organization's mission to succeed?

A.

Offering higher compensation than competitors

B.

Providing only monetary compensation

C.

Determine the right mix of reward components that meet the goals of attracting the right talent while staying within the budget

D.

Offering only non-monetary rewards

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Question # 13

Which of the short-term variable pay programs involves setting targets for multiple performance measures?

A.

Performance sharing

B.

Spot bonus

C.

Referral bonus

D.

Sales commission

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Question # 14

When using market-based job evaluation, what is the percentage of jobs in the organization that should be benchmarked?

A.

At least 30%

B.

At least 50%

C.

At least 70%

D.

At least 90%

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Question # 15

In the context of compensation, what is a "benchmark job"?

A.

A job that is critical to the organization's success

B.

A job that is used to determine the market rate for similar jobs

C.

A job that is used as a model for performance evaluations

D.

A job that is used to set the maximum pay level for all employees

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Question # 16

When is it appropriate to practice open communications regarding pay decisions?

A.

Only when pay decisions are positive

B.

If the HR department supports open communication

C.

If employees have a union representative

D.

If the organizational culture supports open communication

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Question # 17

Which of the following is a consideration in determining if a survey should receive greater weight?

A.

Surveys with higher response rates

B.

Surveys with lower numbers of companies and/or incumbents reported

C.

Surveys with older data

D.

Surveys with lower quality benchmarks jobs

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Question # 18

Which of the following is a characteristic of a good survey?

A.

Short and vague questions

B.

Biased questions

C.

Survey sources are identified

D.

Low response rate

E.

All of the above

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Question # 19

Which of the following is an advantage of market-based job evaluation and pay structure design?

A.

Any market inequities are built in

B.

Simple to administer

C.

TAkes into consideration the company's perceived value of a job

D.

Legally defensible based on job content.

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Question # 20

What is a job offer letter?

A.

A letter to an employee announcing a promotion

B.

A letter to an employee terminating their employment

C.

A letter to a candidate offering them a job

D.

A letter to an employee outlining their performance evaluation

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Question # 21

Which of the following is an advantage of a published survey?

A.

You can customize the survey to meet your specific needs

B.

You have full control over the survey data and methodology

C.

You can negotiate the survey pricing with the vendor

D.

You may receive a substantial discount if you participate in the survey

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Question # 22

What is a primary objective of stock-based compensation?

A.

Attracting new employees

B.

Retaining employees

C.

Motivating employees

D.

All of the above

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Question # 23

Which of the following data is typically requested by surveys?

A.

Wage rate or salary

B.

Employee gender

C.

Employee age

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Question # 24

What is a benchmark job?

A.

A job that is easy to perform

B.

A job that is unique to a particular industry

C.

A job that has never been performed before

D.

A standard job used to make pay comparisons, and is easily defined and found in other organizations

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