BUSMHR 3100 - Exam 3 Questions with
complete solution
Incentive Pay - correct answer ✔Forms of pay linked to an employee's
performance as an individual, group member, or organization member
Pay for Individual Performance - correct answer ✔1.) Piecework rates
2.) Standard hour plans
3.) Merit pay
4.) Individual bonuses
5.) Sales commissions
Piecework Rate - correct answer ✔A wage based on the amount workers
produce
Straights Piecework Plan - correct answer ✔Incentive pay in which the
employer pays the same rate per piece, no matter how much the worker
produces
Differential Piece Rates - correct answer ✔Incentive pay - the piece rate is
high when a greater amount is produced
Standard Hour Plan - correct answer ✔An incentive plan that pays workers
extra for work done in less than a present "standard time"
Merit Pay - correct answer ✔A system of linking pay increases to ratings on
a performance scale
,Gainsharing - correct answer ✔Group incentive program that measures
improvements in productivity and effectiveness and distributes a portion of
each to employees
Types of Pay for Organizational Performance - correct answer ✔1.) Profit
sharing
2.) Stock options
3.) Employee stock ownership plans (ESOP)
Profit Sharing - correct answer ✔Incentive pay in which payments are a
percentage of the organization's profits and do not become part of the
employees' base salary
Is it clear that profit sharing helps an organization perform better? - correct
answer ✔No
Stock Options - correct answer ✔Rights to buy certain number of shares of
stock at a specified price - granted to executives
Employee Stock Ownership Plans (ESOP) - correct answer ✔Arrangement
in which the organization distributes shares of stock to all its employees by
placing it in a trust - most common form of ownership*
Balanced Scorecard - correct answer ✔A combination of performance
measures directed toward the company's long and short term goals and used
as the basis for awarding incentive pay
Categories of Balanced Scorecard - correct answer ✔1.) Financial
2.) Customer
3.) Internal
, 4.) Learning and growing
Short-term Incentives - correct answer ✔Bonuses based on ROI, year
profits, or other measures related to organizations goals
Long-term Incentives - correct answer ✔Include stock options and stock
purchase plans
Social Security - correct answer ✔Employers and employees share social
security cost through a payroll tax. The percentage is set by law.
Unemployment Insurance - correct answer ✔Federally mandated program
administered by states to minimize unemployment hardships
Unemployment Insurance determined by? - correct answer ✔Size of
unemployment tax imposed on each employer depends on the employer's
experience rating
Unemployment Insurance Requirements - correct answer ✔1.) Previously
employed
2.) Available for work
3.) Actively seeking work
4.) Not previously discharged
Workers' Compensation - correct answer ✔State programs that provide
benefits to workers who suffer work-related injuries or illness, or to their
survivors (no-fault liability)
complete solution
Incentive Pay - correct answer ✔Forms of pay linked to an employee's
performance as an individual, group member, or organization member
Pay for Individual Performance - correct answer ✔1.) Piecework rates
2.) Standard hour plans
3.) Merit pay
4.) Individual bonuses
5.) Sales commissions
Piecework Rate - correct answer ✔A wage based on the amount workers
produce
Straights Piecework Plan - correct answer ✔Incentive pay in which the
employer pays the same rate per piece, no matter how much the worker
produces
Differential Piece Rates - correct answer ✔Incentive pay - the piece rate is
high when a greater amount is produced
Standard Hour Plan - correct answer ✔An incentive plan that pays workers
extra for work done in less than a present "standard time"
Merit Pay - correct answer ✔A system of linking pay increases to ratings on
a performance scale
,Gainsharing - correct answer ✔Group incentive program that measures
improvements in productivity and effectiveness and distributes a portion of
each to employees
Types of Pay for Organizational Performance - correct answer ✔1.) Profit
sharing
2.) Stock options
3.) Employee stock ownership plans (ESOP)
Profit Sharing - correct answer ✔Incentive pay in which payments are a
percentage of the organization's profits and do not become part of the
employees' base salary
Is it clear that profit sharing helps an organization perform better? - correct
answer ✔No
Stock Options - correct answer ✔Rights to buy certain number of shares of
stock at a specified price - granted to executives
Employee Stock Ownership Plans (ESOP) - correct answer ✔Arrangement
in which the organization distributes shares of stock to all its employees by
placing it in a trust - most common form of ownership*
Balanced Scorecard - correct answer ✔A combination of performance
measures directed toward the company's long and short term goals and used
as the basis for awarding incentive pay
Categories of Balanced Scorecard - correct answer ✔1.) Financial
2.) Customer
3.) Internal
, 4.) Learning and growing
Short-term Incentives - correct answer ✔Bonuses based on ROI, year
profits, or other measures related to organizations goals
Long-term Incentives - correct answer ✔Include stock options and stock
purchase plans
Social Security - correct answer ✔Employers and employees share social
security cost through a payroll tax. The percentage is set by law.
Unemployment Insurance - correct answer ✔Federally mandated program
administered by states to minimize unemployment hardships
Unemployment Insurance determined by? - correct answer ✔Size of
unemployment tax imposed on each employer depends on the employer's
experience rating
Unemployment Insurance Requirements - correct answer ✔1.) Previously
employed
2.) Available for work
3.) Actively seeking work
4.) Not previously discharged
Workers' Compensation - correct answer ✔State programs that provide
benefits to workers who suffer work-related injuries or illness, or to their
survivors (no-fault liability)
