Compensation Management - 7

LIST OF ATTEMPTED QUESTIONS AND ANSWERS 1st

Multiple Choice Single Answer
Question The wage and salary administration is concerned with the financial aspect of need, reward and :-
Correct Answer Motivation
Your Answer Motivation

Multiple Choice Multiple Answer
Question Documents used for wage analysis are :-
Correct Answer Job cards , Wage sheets
Your Answer Job cards , Wage sheets

Multiple Choice Single Answer
Question Basic purpose of Wage and Salary administration is to establish and maintain an equitable :-
Correct Answer Wage and Salary structure
Your Answer Compensation structure

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

Francis A Walker 1840 - 1897 1772 - 1823

David Ricardo 1772 - 1823 1849 - 1883

Adam Smith 1723 - 1790 1723 - 1790

Karl Marx 1849 - 1883 1840 - 1897


True/False
Question Many companies have chosen some what shady reimbursement or perquisite in order to contain the overall cost in the assumption of being non taxable.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Differential piece rate system is suitable where :-
Correct Answer Fixed costs are higher in proportion to veriable cost , It is possible to count production accurately , There are standardised methods of production
Your Answer Fixed costs are higher in proportion to veriable cost , It is possible to count production accurately , There are standardised methods of production

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

Multiple Choice Multiple Answer
Question Salesmen are usually given incentives in the form of sales commission because of :-
Correct Answer Unsupervised nature of most sales work , Tradition in the market , Assumption that incentives are needed to motivate salesman
Your Answer Unsupervised nature of most sales work , Tradition in the market , Assumption that incentives are needed to motivate salesman

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

Multiple Choice Multiple Answer
Question In dotcom companies, there is :-
Correct Answer Direct interaction with customers and client organizations , Reduction of capital cost , Huge no of employees
Your Answer Direct interaction with customers and client organizations , Reduction of capital cost , Huge no of employees

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

True/False
Question Rate of change in the working force of an organisation during a period of time is known as employee turnover.
Correct Answer True
Your Answer True

True/False
Question Compensation given to an employee on termination or dismissal is considered as Salary Income.
Correct Answer True
Your Answer False

Select The Blank
Question The nature and extent of wage differential are conditioned by a ________.
Correct Answer Set of factors
Your Answer Set of conditions

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

Select The Blank
Question ________ is that portion of Dearness Allowance which Government declares to be paid for all purposes.
Correct Answer Dearness Pay
Your Answer Dearness Pay

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

Multiple Choice Single Answer
Question As industrialization taking place, the family values have :-
Correct Answer Changed
Your Answer Changed

Select The Blank
Question ________ are also aid to executives a certain percentage of the profits.
Correct Answer Bonuses
Your Answer Bonuses

Multiple Choice Single Answer
Question Wages of security men in a production unit comes under :-
Correct Answer Indirect labour
Your Answer Indirect labour

True/False
Question Time booking helps to ascertain direct and indirect labour costs.
Correct Answer True
Your Answer False

Multiple Choice Single Answer
Question Characteristic of a good compensation system is :-
Correct Answer Higher the efficiency of worker, higher is compensation.
Your Answer Higher the efficiency of worker, higher is compensation.

True/False
Question To maintain best manpower in the organization, Management Incentive Plan based on the individual performance is necessary.
Correct Answer True
Your Answer True

Select The Blank
Question Payment to out workers is done on ________ basis.
Correct Answer Monthly
Your Answer Piece rate.

Multiple Choice Single Answer
Question Expenses incurred by business for packing & packaging, advertisement, sales promotion is called :-
Correct Answer Overheads
Your Answer Overheads

True/False
Question With about 2-5 years of experience, an employee can move upto manager level from executive level in IT industry.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question Variance analysis is done in case of :-
Correct Answer Standard costing
Your Answer Standard costing

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

True/False
Question Economic system does result in the concentration of wealth.
Correct Answer False
Your Answer True

Select The Blank
Question ________ provides benefits at the time of retirement/ death / following disability of worker.
Correct Answer Deferred plan
Your Answer Deferred plan

Multiple Choice Single Answer
Question The expenditure on remuneration of workers/employees responsible for conversion of raw material into finished products is called :-
Correct Answer Direct labour
Your Answer Direct expenses

Multiple Choice Single Answer
Question If the employment is merely incidental to the exercise of a profession, the gains from such employment would be :-
Correct Answer Professional earnings
Your Answer Professional earnings

Select The Blank
Question Leave pay of current year is treated as ________.
Correct Answer Direct Expenses
Your Answer Direct Expenses

True/False
Question Group incentive system is more widely prevalent in the Indian industry than the system of individual incentive.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question The wage structure or grade is comprised of jobs of appropriately equal difficulty or importance as determined by :-
Correct Answer Job evaluation
Your Answer Job evaluation

Select The Blank
Question ________ is financial / quantitative statement prepared & approved prior to a period of time.
Correct Answer Budget
Your Answer Budget

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 Objectives laid down by I.L.O. are :-
Correct Answer Abolish malpractices , Abuse in wage payment , Promote Trade Union
Your Answer Abolish malpractices , Abuse in wage payment , Promote Trade Union

Multiple Choice Multiple Answer
Question Level II in junior managers comprises of :-
Correct Answer Engineers , Officers , Senior Engineers
Your Answer Engineers , Officers , Senior Engineers

Match The Following
Question Correct Answer Your Answer

Bonus to top management Overall corporate results Overall corporate results

Time' incentive plan Delays in work are frequent Unsupervised nature of job

Output' Incentive plan Units of output are measurable Units of output are measurable

Commission' to salesmen Unsupervised nature of job Group incentive


Multiple Choice Multiple Answer
Question Major components of compensation :-
Correct Answer Salary , Basic salary , Consolidated salary
Your Answer Salary , Consolidated salary

Multiple Choice Multiple Answer
Question Incentive schemes suffer because of :-
Correct Answer Tendency among workers to sacrifice quality for quantity , Rapid progress in technology , Disregard for safety regulations by workers
Your Answer Tendency among workers to sacrifice quality for quantity , Rapid progress in technology , Disregard for safety regulations by workers

Multiple Choice Multiple Answer
Question Aspects which were considered while determining pay ranges are :-
Correct Answer Maintain adequate difference between supervisors & subordinates , Attention must be given to handling upward changes in wage structure
Your Answer Maintain adequate difference between supervisors & subordinates , Attention must be given to handling upward changes in wage structure

Multiple Choice Single Answer
Question In recent times, in addition to stock options, employees of dotcom companies are demanding :-
Correct Answer Cash bonus
Your Answer Cash bonus

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