ADMN 2230 - HRM Exam ACTUAL
Questions And CORRECT Answers
Competency-based pay - CORRECT ANSWER - Pay based on an employee's skill level,
variety of skills possessed, or increased job knowledge
Consumer Price Index (CPI) - CORRECT ANSWER - measure for the average change in
prices over time in a fixed "market basket" of goods and services
Escalator Clause - CORRECT ANSWER - clause in collective agreements that provide
quarterly cost cost-of-living adjustments in wages, basing the adjustments on changes in the CPI
Hourly Work - CORRECT ANSWER - Work paid on an hourly basis
Peicework - CORRECT ANSWER - work paid for according to the amount produced.
Real Wages - CORRECT ANSWER - wage increase larger than the rise in the CPI, that is
the real earning power of the wage
job evaluation - CORRECT ANSWER - The systematic process of determining the
relative worth of jobs in order to establish which jobs should be paid more than others within an
organization.
job ranking system - CORRECT ANSWER - The simplest and oldest system of job
evaluation by which jobs are arrayed on the basis of their relative worth
job classification system - CORRECT ANSWER - a system of job evaluation in which
jobs are classified and grouped according to a series of predetermined wage grades
, point system - CORRECT ANSWER - A quantitative job evaluation procedure that
determines the relative value of a job by the total points assigned to it
work valuation - CORRECT ANSWER - A job evaluation system that seeks to measure a
job's worth through its value to the organization
Hay profile method - CORRECT ANSWER - A job evaluation technique using three
factors - knowledge, mental activity, and accountability - to evaluate executive and managerial
positions
wage and salary survey - CORRECT ANSWER - A survey of the wages paid to
employees of other employers in the surveying organization's relevant labor market
wage curve - CORRECT ANSWER - A curve in a scattergram representing the
relationship between relative worth of jobs and pay rates
pay grades - CORRECT ANSWER - groups of jobs within a particular class that are paid
the same rate
Red-circle rates - CORRECT ANSWER - payment rates above the maximum of the pay
range
pay equity - CORRECT ANSWER - equal pay for work of equal value
wage rate compression - CORRECT ANSWER - Compression of differentials between job
classes, particularly the differential between hourly workers and their managers
variable pay - CORRECT ANSWER - Tying pay to some measure of individual, group, or
organizational performance
Questions And CORRECT Answers
Competency-based pay - CORRECT ANSWER - Pay based on an employee's skill level,
variety of skills possessed, or increased job knowledge
Consumer Price Index (CPI) - CORRECT ANSWER - measure for the average change in
prices over time in a fixed "market basket" of goods and services
Escalator Clause - CORRECT ANSWER - clause in collective agreements that provide
quarterly cost cost-of-living adjustments in wages, basing the adjustments on changes in the CPI
Hourly Work - CORRECT ANSWER - Work paid on an hourly basis
Peicework - CORRECT ANSWER - work paid for according to the amount produced.
Real Wages - CORRECT ANSWER - wage increase larger than the rise in the CPI, that is
the real earning power of the wage
job evaluation - CORRECT ANSWER - The systematic process of determining the
relative worth of jobs in order to establish which jobs should be paid more than others within an
organization.
job ranking system - CORRECT ANSWER - The simplest and oldest system of job
evaluation by which jobs are arrayed on the basis of their relative worth
job classification system - CORRECT ANSWER - a system of job evaluation in which
jobs are classified and grouped according to a series of predetermined wage grades
, point system - CORRECT ANSWER - A quantitative job evaluation procedure that
determines the relative value of a job by the total points assigned to it
work valuation - CORRECT ANSWER - A job evaluation system that seeks to measure a
job's worth through its value to the organization
Hay profile method - CORRECT ANSWER - A job evaluation technique using three
factors - knowledge, mental activity, and accountability - to evaluate executive and managerial
positions
wage and salary survey - CORRECT ANSWER - A survey of the wages paid to
employees of other employers in the surveying organization's relevant labor market
wage curve - CORRECT ANSWER - A curve in a scattergram representing the
relationship between relative worth of jobs and pay rates
pay grades - CORRECT ANSWER - groups of jobs within a particular class that are paid
the same rate
Red-circle rates - CORRECT ANSWER - payment rates above the maximum of the pay
range
pay equity - CORRECT ANSWER - equal pay for work of equal value
wage rate compression - CORRECT ANSWER - Compression of differentials between job
classes, particularly the differential between hourly workers and their managers
variable pay - CORRECT ANSWER - Tying pay to some measure of individual, group, or
organizational performance
