MGT 420 Final Exam | Verified Exam Questions and Answers | Latest
Updated Study Material 2026
Question:
MGT 420 Final Exam | Comprehensive
Pay structure
Answer:
They way in which an organization apples pay rates
to different jobs, skills or competencies
Question:
Reward system
Answer:
The policies, procedures, and practices used by an
organization to determine the amount and types of returns individuals, teams, and the
organization receive in exchange for their membership and contributions
Question:
Total compensation
Answer:
Package of compensation and benefits that
employees receive
Question:
Relational returns
Answer:
NOnmonetary incentives and rewards, such as
new learning and developmental opportunities
Question:
Benefits
Answer:
Employee rewards that are sometimes referred to as
indirect pay and include heath, life, and disability insurance; retirement programs; and work-life
balance programs
,Question:
Equity theory
Answer:
Provides a way of understanding how an
individual's sense of fairness is influenced by others with who, they compare themselves
Question:
Organizational justice theory and the types of justice (e.g. distributive,procedural, etc.)
Answer:
A theory that focuses on perceptions of fairness in the workplace
Question:
Distributive justice
Answer:
The perceived fairness or equity regarding the
allocation of an outcome or resource, which can induce rewards, punishments, or other
organizational consequences
Question:
Procedural Justice
Answer:
The perceived fairness of the process used to
determine how an outcome or resource is determined and distributed
Question:
Interactional Justice
Answer:
The perceived fairness of an interpersonal or
informational interactions-for example, being treated with respect and consideration or receiving
adequate explanation about a process
Question:
Internal equity
Answer:
The fairness of pay rates across jobs within an
organization
, Question:
Compa-ratio
Answer:
A ratio that reflects how much employees are
actually paid for a given job or pay grade as compared to the espoused pay structure and policies
and thus can be used to assess whether systematic compression or inversion are occurring
Question:
Job structure
Answer:
The ranking of jobs within an organization based on
their respective worth
Question:
Job evaluation and the methods
Answer:
A systematic process used to
determine the relative worth of jobs within an organization
Question:
Broadbanding
Answer:
The process of collapsing multiple pay grades into
one large grade with a single minimum and maximum
Question:
Market strategies (re: ensuring external equity)
Answer:
Question:
Aging
Answer:
A process whereby previously collected market pay data
are adjusted and updated based on market changes due to merit based increases, cost of living
adjustments, and other factors that affect pay.
Updated Study Material 2026
Question:
MGT 420 Final Exam | Comprehensive
Pay structure
Answer:
They way in which an organization apples pay rates
to different jobs, skills or competencies
Question:
Reward system
Answer:
The policies, procedures, and practices used by an
organization to determine the amount and types of returns individuals, teams, and the
organization receive in exchange for their membership and contributions
Question:
Total compensation
Answer:
Package of compensation and benefits that
employees receive
Question:
Relational returns
Answer:
NOnmonetary incentives and rewards, such as
new learning and developmental opportunities
Question:
Benefits
Answer:
Employee rewards that are sometimes referred to as
indirect pay and include heath, life, and disability insurance; retirement programs; and work-life
balance programs
,Question:
Equity theory
Answer:
Provides a way of understanding how an
individual's sense of fairness is influenced by others with who, they compare themselves
Question:
Organizational justice theory and the types of justice (e.g. distributive,procedural, etc.)
Answer:
A theory that focuses on perceptions of fairness in the workplace
Question:
Distributive justice
Answer:
The perceived fairness or equity regarding the
allocation of an outcome or resource, which can induce rewards, punishments, or other
organizational consequences
Question:
Procedural Justice
Answer:
The perceived fairness of the process used to
determine how an outcome or resource is determined and distributed
Question:
Interactional Justice
Answer:
The perceived fairness of an interpersonal or
informational interactions-for example, being treated with respect and consideration or receiving
adequate explanation about a process
Question:
Internal equity
Answer:
The fairness of pay rates across jobs within an
organization
, Question:
Compa-ratio
Answer:
A ratio that reflects how much employees are
actually paid for a given job or pay grade as compared to the espoused pay structure and policies
and thus can be used to assess whether systematic compression or inversion are occurring
Question:
Job structure
Answer:
The ranking of jobs within an organization based on
their respective worth
Question:
Job evaluation and the methods
Answer:
A systematic process used to
determine the relative worth of jobs within an organization
Question:
Broadbanding
Answer:
The process of collapsing multiple pay grades into
one large grade with a single minimum and maximum
Question:
Market strategies (re: ensuring external equity)
Answer:
Question:
Aging
Answer:
A process whereby previously collected market pay data
are adjusted and updated based on market changes due to merit based increases, cost of living
adjustments, and other factors that affect pay.
