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5 Written Questions

5 Matching Questions

  1. Three types of quartile strategies companies use to determine thier pay level
  2. How much is the overtime rate?
  3. What effect does an open pay system have on the organization?
  4. What is the current minimum wage?
  5. Exempt vs. non-exempt employees
  1. a •Meet the market
    •Lag the market
    •Lead the market
  2. b 1.5 times the normal pay rate for all hours over 40/week an employee works
  3. c Exempt employees are not required to be paid overtime, nonexempt have to be paid overtime
  4. d $7.25
  5. e Has a positive affect on employee retention and org effectiveness

5 Multiple Choice Questions

  1. Benefit
  2. •Calculate hourly rate
    •Multiply hourly rate by 1.5, this is overtime rate
    •Multiple overtime rate by hours of overtime worked
    •Add this overtime pay to normal weekly pay
  3. Require overtime payment and prevailing wage for any employee hours worked over eight hours in one day; applies only to federal contracts, not the private sector
  4. Pays for what the actual job is worth to the company
  5. Using Below-market levels because of low funds, an abundance of workers, good benefits; it increases turnover

5 True/False Questions

  1. Comp timeTime off with pay given to the employee instead of overtime pay


  2. Leading the marketHigher than average pay, attracts better workers


  3. Common overtime issuesTime off with pay given to the employee instead of overtime pay


  4. Fair Labor Standard ActEstablishes a minimum wage
    •Child labor rules
    •Overtime rules


  5. Competancy payRewards employees for what they are capable of doing, instead of what they actually do on the job


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