TEST 10 November 2020, questions and answers PDF

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HRM TEST PREP- UNIT 7 AND UNIT 8 Compensation Management – Multiple Choice Questions (MCQ) with Answers https://scholarexpress.com/compensation-management-multiple-choice-questions-mcq-with-answers/ 1-Compensation can be _____ benefits. Monetary Non-monetary both ‘a’ and ‘b’ None of the above (Ans: c) 2-Wages represents _____ rates of pay. Hourly Daily Weekly Monthly (Ans: a) 3-_______ are also called ‘payments by results’. allowances claims incentives fringe benefits (Ans: c) 4-Incentives depends upon productivity sales profits All of the above (Ans: d) 5-The following is paid only at the time of employees exit after serving more than five years Perquisites Claims Gratuity Allowances (Ans: c) 6-The following is a perquisites. Club membership Provident fund Medical allowance Group insurance (Ans: a) Page 1 of 4

HRM TEST PREP- UNIT 7 AND UNIT 8 7-‘A behaviour which has rewarding experience is likely to be repeated’ is postulated by Reinforcement and expectancy theory Equity theory Agency theory None of the above (Ans: a) 8-‘A fair day work for fair day pay’ denotes a sense of _______ felt by employees. Responsibility Equity Happiness Respect (Ans: b) 9-The remuneration system needs to meet the following type(s) of equity Internal External Individual All of the above (Ans: d) 10-Which of the following factor influence(s) employee compensation? Labour market Cost of living Labour unions All of the above (Ans: d) 11-Match the following

Business strategy A. Invest to grow B. Manage earnings – protect markets C. Harvest earnings – reinvest elsewhere

Compensation strategy 1. Stress on cost control 2. Stimulate entrepreneurialism 3. Reward management skills

The correct answer is A-1, B-2, C-3 A-2, B-1, C-3 A-2, B-3, C-1 A-3, B-1, C-2 (Ans: c) Page 2 of 4

HRM TEST PREP- UNIT 7 AND UNIT 8 12-Any compensation plan must be Understandable, workable, acceptable Reasonable, workable, acceptable Understandable, feasible, acceptable Understandable, workable, compensable (Ans: a)

13-The following is not a part of remuneration model Job description Job evaluation Job hierarchy Job analysis (Ans: d) 14-Elitist remuneration systems are prevalent among Well established firms Companies with mature products Companies with limited competition All of the above (Ans: d) 15-In organized industrial establishments pay review takes place once in ____ years. Three Seven Ten Fifteen (Ans: a) 16-Equal remuneration Act 1976, prohibits discrimination in matters relating to remuneration on the basis of Religion Region Sex All of the above (Ans: d) 17-The following is not a concept of wage Daily wages Minimum wages Fair wages Living wages (Ans: a) 18-_______ can be fixed by comparison with an accepted standard wage Page 3 of 4

HRM TEST PREP- UNIT 7 AND UNIT 8 Minimum wages Fair wages Living wages All of the above (Ans: b) 19-A ______ must be fixed considering the general economic conditions of the country. Minimum wages Fair wages Living wages All of the above (Ans: c) 20-In India, _____ wage is determined mainly for sweated industries Minimum Fair Living Standard (Ans: a)

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