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5 Written questions

5 Matching questions

  1. Three types of quartile strategies companies use to determine thier pay level
  2. Comp time
  3. Retirement contribution is an example of what kind of pay?
  4. When an employer wants to pay employees for what theyre capable of and not what theyre actually doing, they want to use these pay systems
  5. How are compensation practices changing?
  1. a •Meet the market
    •Lag the market
    •Lead the market
  2. b •Skill-based pay
    • Competency based pay
  3. c Companies are moving away from traditional compensation towards total compensation involving pay for performance
  4. d Benefit
  5. e Time off with pay given to the employee instead of overtime pay

5 Multiple choice questions

  1. $7.25
  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. •Comp time off
    •Incentives for non exempt employees
    •Training time
    •Travel time
  4. Variable pay
  5. Exempt employees are not required to be paid overtime, nonexempt have to be paid overtime

5 True/False questions

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


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


  3. Fair Labor Standard ActAllows workers to talk to each other about their pay


  4. How much is the overtime rate?1.5 times the normal pay rate for all hours over 40/week an employee works


  5. Job-based payPays for what the actual job is worth to the company