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Strategic Compensation in Canada 4th Edition By Richard Long - Test Bank

Strategic Compensation in Canada 4th Edition By Richard Long – Test Bank

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Strategic Compensation in Canada 4th Edition By Richard Long – Test Bank

Chapter 5: Performance Pay Choices

TRUE/FALSE

1.Merit bonuses represent a permanent increase to base pay.

ANS: F PTS: 1 REF: 163 OBJ: 2

2.If an organization has a “promote from within” policy, it doesn’t really need any other rewards to motivate behaviour.

ANS: F PTS: 1 REF: 164 OBJ: 1

3.Attendance programs are less risky for organizations in which intrinsic motivation is low in the first place.

ANS: T PTS: 1 REF: 172 OBJ: 1

4.All things being equal, goal sharing programs are thought to be less motivational than gain sharing programs.

ANS: F PTS: 1 REF: 177 OBJ: 2

5.To qualify as having an employee profit sharing plan a firm must have a formal program in which payments based on profits are made to a wide cross section of employees.

ANS: T PTS: 1 REF: 179 OBJ: 2

6.The three types of profit sharing plans are the current distribution plan, the deferred payout plan, and the amortization plan.

ANS: F PTS: 1 REF: 181 OBJ: 3

7.The three main types of employee stock plans are: stock bonus plans, stock purchase plans and stock option plans.

ANS: T PTS: 1 REF: 184 OBJ: 3

8.Employee stock plans are simpler to implement in privately-held rather than publicly-traded corporations.

ANS: F PTS: 1 REF: 187 OBJ: 3

9.Profit sharing plans can reduce the need for employee supervision.

ANS: T PTS: 1 REF: 189 OBJ: 3

10.The use of long-term incentive plans is of little value to most firms.

ANS: T PTS: 1 REF: 189 OBJ: 3

MULTIPLE CHOICE

1.Which of the following pay plans is geared to individual performance?

a.

Profit sharing

b.

Competency-based

c.

Gain-sharing

d.

Piece rates

ANS: D PTS: 1 REF: 151 OBJ: 1

BLM: Remember

2.What is the most common form of performance pay used by medium to large Canadian firms?

a.

Merit raises

b.

Profit sharing

c.

Merit bonuses

d.

Commissions

ANS: A PTS: 1 REF: 152 OBJ: 1

BLM: Understand

3.A typical tree planter should be able to plant thirty trees in an hour. You have determined the average amount of money a worker with the skills and abilities to plant trees should earn hourly is $18. What is the straight piece rate paid to your employees?   

a.

$30

b.

$1.66

c.

$0.60

d.

$18

ANS: C PTS: 1 REF: 153 OBJ: 1

BLM: Apply

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