NCSU MIE 330 Exam 4 Ritter Spring 2025 Questions With
Complete Solutions
Balanced Scorecard Correct Answers a combination of
performance measures directed toward the company's long and
short term goals and used as the basis for awarding incentive
pay
Benchmarking Correct Answers a process by which a company
compares its performance with that of high-performing
organizations
Cash Balance Plan Correct Answers retirement plan in which
the employer sets up an individual account for each employee
and contributes a percentage of the employee's salary; the
account earns interest at a predefined rate
Compa-Ratio Correct Answers average/midpoint
compensable factors Correct Answers 1.Experience
2.Education
3.Complexity
4.Working conditions
5.Responsibility
Conditions for Effective Gainsharing Correct Answers
1.Management commitment
2.Need for change or commitment to continuous improvement
3.Management acceptance and encouragement of worker input
4.High levels of cooperation and interaction
5.Employment security
, 6.Information sharing on productivity and costs
7.Goal setting
8.Commitment of all parties to process improvement
9.Performance standards and calculations that are fair, relevant,
and understandable
10.Employees who value working in groups
Consolidated Omnibus Budget Reconciliation Act (COBRA)
Correct Answers Federal law that requires employers to permit
employees or their dependents to extend their health insurance
coverage at group rates for up to 36 months following a
qualifying event, such as a layoff, reduction in hours, or the
employee's death.
Contributory plan Correct Answers retirement plan funded by
contributions from the employer and employee
defined benefit plan Correct Answers pension plan that
guarantees a specified level of retirement income
defined contribution plan Correct Answers retirement plan in
which the employer sets up an individual account for each
employee and specifies the size of the investment into that
account
Delayering Correct Answers Reducing the number of levels in
the organization's job structure
Differential Piece Rates Correct Answers incentive pay in
which the piece rate is higher when a greater amount is
produced.
Complete Solutions
Balanced Scorecard Correct Answers a combination of
performance measures directed toward the company's long and
short term goals and used as the basis for awarding incentive
pay
Benchmarking Correct Answers a process by which a company
compares its performance with that of high-performing
organizations
Cash Balance Plan Correct Answers retirement plan in which
the employer sets up an individual account for each employee
and contributes a percentage of the employee's salary; the
account earns interest at a predefined rate
Compa-Ratio Correct Answers average/midpoint
compensable factors Correct Answers 1.Experience
2.Education
3.Complexity
4.Working conditions
5.Responsibility
Conditions for Effective Gainsharing Correct Answers
1.Management commitment
2.Need for change or commitment to continuous improvement
3.Management acceptance and encouragement of worker input
4.High levels of cooperation and interaction
5.Employment security
, 6.Information sharing on productivity and costs
7.Goal setting
8.Commitment of all parties to process improvement
9.Performance standards and calculations that are fair, relevant,
and understandable
10.Employees who value working in groups
Consolidated Omnibus Budget Reconciliation Act (COBRA)
Correct Answers Federal law that requires employers to permit
employees or their dependents to extend their health insurance
coverage at group rates for up to 36 months following a
qualifying event, such as a layoff, reduction in hours, or the
employee's death.
Contributory plan Correct Answers retirement plan funded by
contributions from the employer and employee
defined benefit plan Correct Answers pension plan that
guarantees a specified level of retirement income
defined contribution plan Correct Answers retirement plan in
which the employer sets up an individual account for each
employee and specifies the size of the investment into that
account
Delayering Correct Answers Reducing the number of levels in
the organization's job structure
Differential Piece Rates Correct Answers incentive pay in
which the piece rate is higher when a greater amount is
produced.
