WGU C236 COMPENSATION AND BENEFITS
FINAL FULLY SOLVED EXAM PAPER GRADED A+
◉ The first step in setting competitive pay and designing a pay
structure is to _______.
Answer: specify a pay level policy
◉ The second major decision in pay level determination is to _______.
Answer: define the purpose of a survey
◉ The final major decision in pay level determination is to_____.
Answer: design grades and ranges or bands
◉ Which of the following is true regarding the Employment Context
Index (ECI)?
Answer: It allows comparison of changes in its average cost to an all
industry average.
◉ Which of the following jobs would most likely fall into a fuzzy
market?
Answer: The position of senior director of future vision services that
was filled by a software engineer with e commerce, marketing and
theater experience.
,◉ In most organizations, the responsibility for managing a pay
survey lies following statements is true about with _________.
Answer: The compensation manager
◉ The _____ publishes extensive information on various occupations
in different geographic areas. It is a major source of publicly
available compensation data.
Answer: Bureau of Labor Statistics
◉ A company using a skill based pay system prices the job of lead
assembler between 10 and 22 dollars per hour. Survey data showed
that the job of assembler averaged 10 per hour and the job of
assembly supervisor averaged 22 per hour. The company is using
the ___________ method of job matching.
Answer: Low High Method of Job Matching
◉ For organizations using a skill competency based pay system or
generic job descriptions, the best approach for pricing jobs is ______.
Answer: The low high approach
◉ ______ measures reveal competitors use of performance based cash
payments.
Answer: Total Cash
, ◉ A common first step in interpreting survey data is to _____.
Answer: check for the accuracy of job matches.
◉ The process of multiplying survey data by some factor judged to
reflect the difference between a survey benchmark job and a
company job is called _____
Answer: survey leveling
◉ All of the following are examples of potential anomalies EXCEPT
________.
Answer: a large variation in average base pay for a job across
companies.
◉ Which of the following is often used to set pay ranges?
Answer: quartiles and percentiles
◉ The ____ minimizes the distortion of the central tendency caused
by outliers.
Answer: median
◉ Which of the following statistical measures shows how similar or
dissimilar market rates are from each other?
FINAL FULLY SOLVED EXAM PAPER GRADED A+
◉ The first step in setting competitive pay and designing a pay
structure is to _______.
Answer: specify a pay level policy
◉ The second major decision in pay level determination is to _______.
Answer: define the purpose of a survey
◉ The final major decision in pay level determination is to_____.
Answer: design grades and ranges or bands
◉ Which of the following is true regarding the Employment Context
Index (ECI)?
Answer: It allows comparison of changes in its average cost to an all
industry average.
◉ Which of the following jobs would most likely fall into a fuzzy
market?
Answer: The position of senior director of future vision services that
was filled by a software engineer with e commerce, marketing and
theater experience.
,◉ In most organizations, the responsibility for managing a pay
survey lies following statements is true about with _________.
Answer: The compensation manager
◉ The _____ publishes extensive information on various occupations
in different geographic areas. It is a major source of publicly
available compensation data.
Answer: Bureau of Labor Statistics
◉ A company using a skill based pay system prices the job of lead
assembler between 10 and 22 dollars per hour. Survey data showed
that the job of assembler averaged 10 per hour and the job of
assembly supervisor averaged 22 per hour. The company is using
the ___________ method of job matching.
Answer: Low High Method of Job Matching
◉ For organizations using a skill competency based pay system or
generic job descriptions, the best approach for pricing jobs is ______.
Answer: The low high approach
◉ ______ measures reveal competitors use of performance based cash
payments.
Answer: Total Cash
, ◉ A common first step in interpreting survey data is to _____.
Answer: check for the accuracy of job matches.
◉ The process of multiplying survey data by some factor judged to
reflect the difference between a survey benchmark job and a
company job is called _____
Answer: survey leveling
◉ All of the following are examples of potential anomalies EXCEPT
________.
Answer: a large variation in average base pay for a job across
companies.
◉ Which of the following is often used to set pay ranges?
Answer: quartiles and percentiles
◉ The ____ minimizes the distortion of the central tendency caused
by outliers.
Answer: median
◉ Which of the following statistical measures shows how similar or
dissimilar market rates are from each other?
