Compensation Management - 4

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
Surprise check on calculation & disbursement of payments is necessary to avoid any fraud.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Dotcom companies were founded to go beyond :-
Correct Answer
Physical business
Your Answer
National boundaries

Select The Blank
Question
Piece workers come under ________ class of workers.
Correct Answer
Semi - skilled
Your Answer
Unskilled

Select The Blank
Question
Persons interested in enhancing their reputations and receiving recognition may respond to ________.
Correct Answer
Verbal praise
Your Answer
Decision making authority

True/False
Question
Direct labour costs are included in cost of production of each unit.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
In co-partnership Incentive system, there is division of :-
Correct Answer
Surplus profit
Your Answer
Surplus profit

Multiple Choice Single Answer
Question
Wage & salary administration refers to the establishment and implementation of sound policies and practices of employee :-
Correct Answer
Compensation
Your Answer
Compensation

Multiple Choice Single Answer
Question
Remuneration paid for the service of the labour in production is :-
Correct Answer
Wage
Your Answer
Wage

Multiple Choice Multiple Answer
Question
Which of the following are used to compensate major executives?
Correct Answer
Straight salaries , Bonuses , Profit sharing
Your Answer
Straight salaries , Bonuses , Profit sharing

Multiple Choice Single Answer
Question
Carpenters engaged in cutting of wood in a furniture making shop is an example of :-
Correct Answer
Direct labour
Your Answer
Direct labour

Select The Blank
Question
Employee's State Insurance Act, ________ is a pioneering measure in the field of social insurance of our country.
Correct Answer
1948
Your Answer
1948

Multiple Choice Multiple Answer
Question
Following are avoidable causes of employees turnover :-
Correct Answer
Unsatisfactory pay package , Absence of job satisfaction
Your Answer
Unsatisfactory pay package , Better prospects outside , Absence of job satisfaction

Match The Following
Question
Correct Answer
Your Answer
Francis A Walker
1840 - 1897
1849 - 1883
David Ricardo
1772 - 1823
1723 - 1790
Adam Smith
1723 - 1790
1728 - 1794
Karl Marx
1849 - 1883
1772 - 1823

Multiple Choice Single Answer
Question
Marriages were supposed to be made in :-
Correct Answer
Heaven
Your Answer
Heaven

Multiple Choice Multiple Answer
Question
Wage differentials are of following factors :-
Correct Answer
Difference in labour efficiency , Social esteem , Occupation
Your Answer
Difference in labour efficiency , Social esteem , Occupation

Multiple Choice Multiple Answer
Question
In India, Group incentive plans face problems like :-
Correct Answer
High norms of standard work , Illiterate workforce , Numerous slabs in rate structure
Your Answer
Numerous slabs in rate structure , High norms of standard work , Illiterate workforce

Multiple Choice Single Answer
Question
HR or Personnel department realises the relative worth of jobs by :-
Correct Answer
Job evaluation
Your Answer
Job evaluation

Multiple Choice Multiple Answer
Question
Scanlon plan of profit sharing aims at :-
Correct Answer
Reduction of cost of operation of increased production , Sharing in gains , Workers participation
Your Answer
Workers participation , Reduction of cost of operation of increased production , Sharing in gains

Select The Blank
Question
Ratio of number persons over 4 years of service at present to total employed 4 years ago is called ________
Correct Answer
Skill wastage index
Your Answer
Skill wastage index

Multiple Choice Single Answer
Question
To minimize disparity in wages & levels, following act is passed :-
Correct Answer
Minimum wages Act
Your Answer
Minimum wages Act

Multiple Choice Single Answer
Question
In developmental phase, the dotcom companies concentrate on :-
Correct Answer
Building brand
Your Answer
Launching IPO

Multiple Choice Multiple Answer
Question
Employees are paid incentives on 'Output' basis if :-
Correct Answer
Units of output can be measured , Direct relationship between employee efforts and quantity of output , Jobs are standardised
Your Answer
Units of output can be measured , Direct relationship between employee efforts and quantity of output , Jobs are standardised

Select The Blank
Question
Compensation system should reduce ________.
Correct Answer
Employee turnover
Your Answer
Overheads

Multiple Choice Multiple Answer
Question
Article 43 reads: State shall endeavour to secure by suitable legislation to all :-
Correct Answer
Agricultural workers , Industrial , Working in a living wage
Your Answer
Agricultural workers , Industrial , Working in a living wage

Select The Blank
Question
To perform a ________ function by way of determining the social status of workers.
Correct Answer
Social
Your Answer
Social

True/False
Question
If workers do not understand relationship between performance and rewards, incentive plans cannot motivate workers.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Sequence of operations for a job is clear in case of :-
Correct Answer
Job cards.
Your Answer
Daily time sheet.

Multiple Choice Multiple Answer
Question
Level II in senior managers include or comprises of :-
Correct Answer
General Manager , Senior General Manager , Deputy General Manager
Your Answer
General Manager , Senior General Manager , Deputy General Manager

Multiple Choice Single Answer
Question
Group incentive plans are best suited for :-
Correct Answer
Small work groups
Your Answer
Small work groups

Select The Blank
Question
compensation should be ________ efficiency & result .
Correct Answer
Directly proportional
Your Answer
Directly proportional

True/False
Question
IT jobs still remain the best paying jobs in the country.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Good compensation system
Avoid exploitation
Avoid exploitation
High demand & Low supply
High compensation
High compensation
Equal work
Equal pay
Equal pay
Unskilled worker
Lower compensation
Lower compensation

Select The Blank
Question
If the idle time is controllable and normal, its cost is treated as ________ cost.
Correct Answer
Indirect
Your Answer
Direct

Select The Blank
Question
Life and Medical insurance or reimbursement of medical bills is considered as a part of ________.
Correct Answer
Perks
Your Answer
Perks

True/False
Question
Overtime paid because of inefficiency of other department is charged to the job.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Effectiveness of incentive system is ascertained with the help of :-
Correct Answer
Efficiency report.
Your Answer
Efficiency report.

Multiple Choice Multiple Answer
Question
Demerits of time rate system at ordinary level are :-
Correct Answer
No distinction between efficient and inefficient workers at regards output , Increase the cost of production in case of low productivity
Your Answer
No distinction between efficient and inefficient workers at regards output , Increase the cost of production in case of low productivity , Simple to understand

Multiple Choice Multiple Answer
Question
Job analysis describes :-
Correct Answer
Duties , Responsibilities , Working conditions
Your Answer
Duties , Responsibilities , Working conditions

Multiple Choice Multiple Answer
Question
A good incentive scheme should have :-
Correct Answer
Elasticity , Parity , Less operational costs
Your Answer
Elasticity , Parity , Less operational costs

True/False
Question
Employee turnover rate focuses on stability of employee in the organisation.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Employees cost to the company includes :-
Correct Answer
Basic wages , Incentives
Your Answer
Cost of personnel administration , Basic wages , Dearness allowance

True/False
Question
The cost of time lost in strikes is charged to Profit & Loss Account.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
When a dotcom company starts earning profits, promoters are focused on the launch of:-
Correct Answer
IPO
Your Answer
New business deals

Multiple Choice Single Answer
Question
The total of direct material, direct labour, direct expenses is called :-
Correct Answer
Prime cost
Your Answer
Prime cost

True/False
Question
Insurance of a worker is a part of gross salary.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
At germination stage, to attract and retain talent, dotcom companies offer :
Correct Answer
Stock option
Your Answer
Stock option

Select The Blank
Question
The ________ criterion is usually regarded as an automatic minimum equity pay criterion.
Correct Answer
Cost of living pay
Your Answer
Supply & demand of labour