Compensation and Reward Management (HR712)-Semester III

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1st Module Assessment

Question 1. Compensation structure includes all of the following except ________.

Select one:

a. House Rent Allowance

b. Conveyance

c. Dearness Allowance

d. Performance Appraisal

Clear my choice

_________ is the process of evaluating the relative worth of the Job.

Select one:

a. Job Analysis

b. Job Evaluation

c. Performance Management

d. Employee Engagement

Question 2. _________ is a systematic approach to providing monetary value to employees in exchange for work performed.

Select one:

a. Compensation

b. Appreciation

c. Recognition

d. Training

Clear my choice

Question 3. Which of these is the bare wage that an employee is entitled to in his employment?

Select one:

a. Minimum Wage

b. Bonus Pay

c. Incentive

d. Performance Pay

Clear my choice

Question 4. In which of these wage systems, payment is given to employees on the basis of time spent on job?

Select one:

a. Piece Wage System

b. Direct wage System

c. Time rate System

d. Indirect wage System

Clear my choice

Question 5. Under the “Hay Guide” Method 3, the important factors are Accountability, Know How and ________.

Select one:

a. Comparisons

b. Creativity

c. Reasoning

d. Problem Solving

Clear my choice

Question 6. Quantative method of Job Evaluation is also called ____________.

Select one:

a. Non-Analytical

b. Analytical

c. Bargaining

d. Ranking

Clear my choice

Question 7. The primary objective of the compensation is ______.

Select one:

a. Training

b. Equity

c. Promotion

d. Development

Clear my choice

Question 8. According to _______ theory of wage, labors are paid according to their production in production.

Select one:

a. Subsistence

b. Marginal

c. Economical

d. Legal

Clear my choice

Question 9. Following factors play a major role in selecting wages except ________.

Select one:

a. Level of Education

b. Skill Set

c. Personal Hobbies

d. Labor market

Clear my choice

Question 10. Which of these wages is between the Living Wage and the Minimum Wage?

Select one:

a. Base Wage

b. DA

c. Fair Wage

d. Contingent Wage

Clear my choice

Question 11. In this method of job evaluation, job is break down in various identifiable criteria like skill, effort and points are assigned to this.

Select one:

a. Job Ranking Method

b. Job Grading Method

c. Factor Comparison

d. Point Rating method

Clear my choice

Question 12. In this system fixed DA is provided to employees according to their slabs

Select one:

a. Graduated Rate

b. Flat Rate

c. Price Index

d. Not Linked with Price Index

Clear my choice

Question 13. Compensation system according to pay model is designed to achieve ________

Select one:

a. Organizational Objective

b. Personal Objective

c. Strategic Ob jective

d. Departmental Objective

Clear my choice

Question 14. Component including in wage structure to meet the needs of cost of living is called _______.

Select one:

a. Conveyance Allowance

b. Dearness Allowance

c. House Rent Allowance

d. City compensatory Allowance

According to which theory “Wages should be given to employees, so thet they shold not starve in long run”?

Select one:

a. Modern theory

b. Economic Theory

c. Subsistence Theory

d. Equity Theory

Question 15. The first step in the process of Job Evaluation is ________.

Select one:

a. Selection of Benchmark Jobs

b. Selecting Method of Evaluation

c. Determining Job Ranking

d. Gathering basic Information about Job

Clear my choice

Question 16. _______ is the statutory body to decide the wages of different industry.

Select one:

a. Wage Board

b. Pay Commision

c. Minimum Wages Act

d. Payment Wages Act

Clear my choice

Question 17. _________ includes all the benfits and allowances.

Select one:

a. Gross Salary

b. Take Home Salary

c. CTC

d. Basic Salary

2nd Module Assessment

competitiveness means organization’s pay relative to its competitors.

External competitivenes

Question 1. To be eligible for gratuity the employee suppose to work regular for the period of ______ years.

Select one:

a. 5

b. 7

c. 10

d. 3

Clear my choice

Question 2. Which act states that remuneration should not be differentiated on the basis of male and female?

Select one:

a. Minimum Wages Act

b. Payment of Wages Act

c. Equal Remuneration Act

d. Gratuity Act

Clear my choice

Question 3. Which of these is a tripartite body with representative of employer and employee, presided over by Independent representative by government to decide the wages?

Select one:

a. Grievance Commision

b. Trade Union

c. Wage Board

d. Government of India

Clear my choice

Question 4. The employee’s contribution in Provident Fund (PF) is ________

Select one:

a. 13.10%

b. 15.60%

c. 12.00%

d. 18.00%

Clear my choice

Question 5. The sum total pay given to employees included all the benefits without deductions is called _______.

Select one:

a. Gross Pay

b. Net Pay

c. CTC

d. Takr Home Pay

Clear my choice

Question 6. Which administrative system is designed to work upon the salary of Government Employees?

Select one:

a. Wage Board

b. Pay Commision

c. Pay Progression

d. HR Department

Clear my choice

Question 7. One of the important role of wage board is to align the wages settlement with ___________policies of government.

Select one:

a. Emotional Well-Being

b. Demographic

c. Social-Psychological

d. Economic and Social

Clear my choice

Question 8. _______ is the process in which employee moves to higher pay level within a grade.

Select one:

a. Transfer

b. Recruitment

c. Pay Progression

d. Promotion

Clear my choice

Question 9. According to Payment of Wages Act, any organization having employees less than 1000 should give salary by ______ of next month.

Select one:

a. 1st

b. 7th

c. 10th

d. 5th

Clear my choice

Question 10. Occupation, Geography and _________ determine labor markets.

Select one:

a. Employee

b. Salary

c. Location

d. Competitors

Clear my choice

Question 11. Gratuity is calculated at _______ of Basic Pay.

Select one:

a. 8.70%

b. 5%

c. 3.50%

d. 4.81%

Clear my choice

Question 12. This allowance is paid to the employees for meeting the cost of renting a home.

Select one:

a. DA

b. HRA

c. Medical

d. CCA

Clear my choice

Question 13. The latest Pay Commision in India is ______.

Select one:

a. 7th

b. 5th

c. 6th

d. 2nd

Clear my choice

Question 14. Employees who have the basic salary of Rs _______ are eligible for PF.

Select one:

a. 10000

b. 20000

c. 15000

d. 25000

Clear my choice

To be eligible for ESIC, the employee’s Gross salary should be below Rs ___________.

Select one:

a. 15000

b. 21000

c. 10000

d. 12000

Question 15. Labor laws comes under the _________factors that influence pay.

Select one:

a. Internal

b. External

c. Cross sectional

d. Diagonal

Clear my choice

Question 16. Gratuity = Last Drawn Salary × 15/26 × ___________

Select one:

a. No of leaves every year

b. No. of Working days in month

c. No. of Years of Service

d. No. of Working days in a year

Clear my choice

Question 17. The first Wage board was set up in 1957 in _________.

Select one:

a. Bombay Mills

b. Cotton Textile Industry

c. Gujrat Textiles

d. Chattisgarh Paper Mills

3rd Module Assessment

Question 1. In which of these practices does an employee pay a fixed or percentage amount for coverage?

Select one:

a. Probationary Period

b. Co-Pay

c. Benefit Limitation

d. Cost reduction

Clear my choice

Question 2. _________ is one of the important factor that affects employee’s benefits.

Select one:

a. Performance

b. Ambition

c. Motivation

d. Recognition

Clear my choice

Question 3. Pension is the _________ benefit given to employees after retirement

Select one:

a. Non-Statutory

b. Variable Pay

c. Medical

d. Statutory

Clear my choice

Question 4. Fringe benefits helps in _______ employees

Select one:

a. Lay off

b. Motivating

c. Retrenchment

d. Training

Clear my choice

Question 5. Life Insurance comes under ________ benefits.

Select one:

a. Safety

b. Employment

c. Retierment

d. Health

Clear my choice

Question 6. Which one is an additional advantage an employee receives from its employer?

Select one:

a. Benefits

b. Salary

c. Advice

d. Directions

Clear my choice

Question 7. _________ allows employees to vary their arrival and departure time

Select one:

a. Benefits

b. ESOP’s

c. Flexible Work Schedules

d. Work from Home

Clear my choice

Question 8. ___________ means employee usually comes office semi-regularly.

Select one:

a. Flexitimings

b. Work from Home

c. Telecommuting

d. Remote Working

Clear my choice

Question 9. In which process do the employees get the right to purchase stocks of the company in lieu of benefits?

Select one:

a. ESOP

b. HRA

c. DA

d. Bonus

Clear my choice

Question 10. Following are the method of communicating benefit program to employees except______.

Select one:

a. Employee Handbook

b. Meeting with Employees

c. Intranet

d. Text Messages

Clear my choice

Question 11. One of the disadvantage of Flexible Work Schedule is _________.

Select one:

a. Difficult to Connect with Co-workers

b. Flexibility to employees

c. Good Work Life- Balance

d. High Employee Engagement

Clear my choice

Question 12. Following are the Statutory benefits given to employees except ___________.

Select one:

a. Social Security

b. Medical Leaves

c. Pension

d. Recognition

Clear my choice

Question 13. ESOP’s are __________ benefits given to employees

Select one:

a. Monetary

b. Bonus()

c. Non-Monetary

d. Cash

Clear my choice

Compensation is completely related to ________, whereas benefits is related to non-monetray (Money) benefits.

Select one:

a. Incentives

b. Perks

c. Performance

d. Money

Question 14. Three main issues in determining Benefit Programs are Communicating, Claim Processing and __________.

Select one:

a. Equity

b. Cost Containment

c. Relationship

d. Distribution

Clear my choice

Question 15. ________ act is responsible for employee’s social security schemes.

Select one:

a. Minimum Wages

b. Payment of Wages

c. Equal Remuneraton

d. Employee State Insurance

Clear my choice

Question 16. Key employee factor to determine the benefit process is _________.

Select one:

a. Equity

b. Distribution

c. Relevance

d. Relationship

Clear my choice

Question 17. There must be _____ year of gap in between granting of option and vesting of option in ESOP’s.

Select one:

a. 3

b. 1

c. 5

d. 7

4th Module Assessment

Question 1. CTC means ________.

Select one:

a. Care to Company

b. Cost to Care

c. Credit ot Company

d. Cost to Company

Clear my choice

Question 2. It is a financial compensation given above salary.

Select one:

a. Appreciation

b. Benefit

c. Bonus

d. Recognition

Clear my choice

Question 3. Individual Incentive Plans are based on 2 basis- Time Based Incentives and ________ based Incentives.

Select one:

a. Production

b. Rate

c. Development

d. Incement

Clear my choice

Question 4. In order to avoid ethical issues Pay for ________ should be followed

Select one:

a. Leaves

b. Variance

c. Performance

d. Time

Clear my choice

Question 5. __________ are the tools to detremine the median or average salary.

Select one:

a. Survey

b. Data collection

c. Salary Survey

d. Consolidated Salary

Clear my choice

Question 6. __________ is the compensation that employer give to the employee once the employment is over.

Select one:

a. Flexi Pay

b. Bonus Pay

c. Severance Pay

d. Digital Pay

Clear my choice

According to competency based pay, employee is paid according to the ___ and ______ they possess.

Select one:

a. Tome o Job and Salary

b. Knowledge and skills

c. Education and Degrees

d. Experience and Education

Question 7. Bonus should be paid at the minimum rate of ___ percent

Select one:

a. 5.36

b. 8.33

c. 12.55

d. 15.5

Clear my choice

Question 8. Basic salary of the employee should be based on __________

Select one:

a. Minimum Wages

b. Maximum Wages

c. Time System

d. Production System

Clear my choice

Question 9. In which of these wage systems is the incentive calculated on the collective production of group?

Select one:

a. Time Wage System

b. Piece Wage System

c. Individual Incentive Plan

d. Group Incentive Plans

Clear my choice

Question 10.

Net Salary is alo called _________

Select one:

a. Gross Salary

b. CTC

c. In House Salary

d. Take Home Salary

Clear my choice

Question 11. Gross Salary = Basic Salary + _________

Select one:

a. Taxes

b. Allowances

c. Deductions

d. CTC

Clear my choice

Question 12. _______ is one of the common ethical issue in compensation.

Select one:

a. Development

b. Efficiency

c. Time

d. Cost Cutting

Clear my choice

Question 13. If the worker completed the work before stipulated time, it is called _________.

Select one:

a. Halsey Premium Plan

b. Rowan Plan

c. Emerson Efficiency Plan

d. Beaudax Point Plan

Clear my choice

Question 14. Following are the elements of competency based pay except ________.

Select one:

a. Specific Skill requirement

b. Training of the Skills

c. Salary of Employee

d. Competency Testing

Clear my choice

Employees drawing the salary of Rs. ________ or less are eligible for bonus.

Select one:

a. 21000

b. 15000

c. 10000

d. 8000

Question 15. Bonus should be paid at the maximum rate of ____ percent.

Select one:

a. 15

b. 12

c. 25

d. 20

Clear my choice

Question 16. CTC = Gross Salary + ________

Select one:

a. Bonus

b. Benefits

c. Deductions

d. Tax

Clear my choice

Question 17. In Provident fund employee suppose to pay _____ percent.

Select one:

a. 12

b. 15

c. 21

d. 18

5th Module Assessment

Question 1. Metrics that calculate the total compensation spent on benefits is called ________

Select one:

a. Increased Rate Ratio

b. Benefit Spent Ratio

c. Base Salary Increase Rate

d. Total Compensation Ratio

Clear my choice

__ shows the progression in salary from one job level to another by comparing the two ranges’ midpoints.

Select one:

a. Reward Ratio

b. Salary Differential

c. Incentive Ratio

d. Benefit Ratio

Question 2. The first and the best practice in compensation planning is to design ________.

Select one:

a. System

b. Rewards

c. Salary

d. Company’s Pay Policy

Clear my choice

Question 3. Organizations utilizing latest compensation trends to build culture and _______

Select one:

a. Infrastructure

b. Technology

c. Brand Image

d. Employees

Clear my choice

Question 4. All are the uses of reward system in the organization except ________

Select one:

a. Increasing Employee commitment

b. Better Employee Retention

c. Job Satisfaction

d. Increased Absenteeism

Clear my choice

Question 5. Through use of Information Technology in Compensation one can take __________ decisions

Select one:

a. Strategic Compensation

b. Operational

c. Cross Functional

d. Managerial

Clear my choice

Question 6. One of the latest trend in compensation is_______.

Select one:

a. Base Salary

b. Pay for Performance

c. Average Pay

d. Time Based Pay

Clear my choice

Question 7. ______ is given on the basis of Job related knowledge, skills and Competencies.

Select one:

a. Time Focussed Pay

b. Person Focussed Pay

c. Piece Focussed Pay

d. Rewards Focussed pay

Clear my choice

Question 8. _________ shows the progression in salary from one job level to another by comparing the two ranges’ midpoints.

Select one:

a. Reward Ratio

b. Salary Differential

c. Incentive Ratio

d. Benefit Ratio

Clear my choice

Question 9. Following are the approaches of Global Compensation except _______.

Select one:

a. Home Country Approach

b. Headquarter Based Approach

c. Direct Link Approach

d. Host Country approach

Clear my choice

Question 10. Out of following, which one is the major components of International Pay system?

Select one:

a. Foreign Service Premium

b. Allowances

c. HRA

d. Base Salary

Clear my choice

Technology Enablers in compensation empowering employees to take decision related to their ____________ and benefits accordingly.

Select one:

a. Absenteeism

b. Decision

c. Retention

d. Performance

Question 11. Under which of these approaches, payment is given on the basis of company’s headquarter regardless of location?

Select one:

a. Home Based Approach

b. Host Based Approach

c. Headquarter Based Approach

d. Balance Sheet Approach

Clear my choice

Question 12. ________ are given towards the education fee of the expatriates.

Select one:

a. Cost of Living Allowance

b. Spouse Allowance

c. Home Service allowance

d. Education Allowance

Clear my choice

Question 13. Appreciation and recognition are called the _______ Rewards.

Select one:

a. Compulsory

b. Monetary

c. Intrinsic

d. Regular

Clear my choice

Question 14. Which of these metrics includes salaries, overtime pay, benefits, incentives, bonuses and everything paid to employees?

Select one:

a. Total Compensation Spend (TCS)Rate

b. Cost Per Hire

c. Annual benefit Spend Change

d. Benefit Spent Ratio

Clear my choice

Question 15. A ____________ alowance is included in expatriate employee’s pay in response to fluctuations in the economy, such as inflation or deflation.

Select one:

a. Foreign Service Allowance

b. Cost of Living

c. Education Assistance

d. Housing Assistance

Clear my choice

Question 16. ________ are measures that help to know the ratio of compensation spent against revenue.

Select one:

a. ROI

b. Compensation Metrics

c. Cost per Hire

d. Absenteeism Ratio

Clear my choice

Question 17. Which one is the component of Strategic Compensation wherein company’s keep secrets regarding the salary of employees?

Select one:

a. Skill Based Pay

b. Competence Based Pay

c. Pay Secrecy

d. Reward Management

Assignment 2

Case Study:

The employees of SVN pharmaceuticals were a worried lot. With the news that the company is going to be merged with ABC pharma, all of them were worried about what would happen to their jobs, and the other benefits as a result of the merger. There were all kinds of rumors regarding layoffs and reduction in pay and benefits. ABC pharma was a leading firm with operations spread across Asia and Europe. SVN pharmaceuticals had a strong hold in marketing and distribution in India, and so it was considered to be a merger of equals. Amid all the confusion, the CEO of SVN pharmaceuticals addressed the employees about the reason for the decision, and advantages to the firm if the merger is completed. He felt as a result of the merger, the firm would be able to explore various areas of research and development. The employees have only one question in their minds, what would be the impact of this merger on their jobs and their pay packages. To their relief CEO made it clear that a benefits team would be formed that would be representatives of both the companies. He requested the employees to be patient as it would take some time to clearly decide and bring in an effective benefit plan. As per CEOs statement a benefit team was formed.

The team was headed by the VP – HR of the merged company. He stated that since it was a merger of equals, they had to develop something that was the best for the new company, even if it were time – consuming. The team felt that the best way to go about it was to merge the best of both companies’ benefit plans or create a new benefit program that would reflect the culture the new company was trying to nurture. The head also stated that their aim was not just to design a new benefit plan, but also to make sure that all the employees were knowledgeable and comfortable about the changes in the benefit program. Before concluding the meeting, the VP – HR made it clear to the team that people were of paramount importance to them and if the benefits program did not help in retaining them, then the merger would serve no purpose.

SVN Pharmaceuticals is merging with ABC Pharma because __________________.

Select one:

a. It is a leading Firm spread across Asia and Europe.

b. It has strong hold in Marketing and Distribution in India.

c. It wants to lay off and reduce their employees.

d. The CEO wants to change the manpower.

Clear my choice

Question 2. As a result of merger, the firm would be able to explore the areas of _________.

Select one:

a. Talent Management

b. Performance Appraisal

c. Research & Development

d. Training & Development

Clear my choice

Question 3. As per CEO ________ will be formed to make the new benefit plan.

Select one:

a. VP-HR

b. Compensation Plan

c. New Strategies

d. Benefit Team

Clear my choice

Question 4. VP- HR clears that new benefit program should be focussing on _______ the employees.

Select one:

a. Motivating

b. Reducing

c. Retaining

d. Exhausting

Clear my choice

Question 5. The main concern of the case study is _____________.

Select one:

a. Merger

b. Benefit Program

c. Working Schedules

d. Reducing Manpower

Compensation and Reward Management (HR712)-Semester III

Compensation and Reward Management (HR712)-Semester III

2nd Module Assessment

competitiveness means organization’s pay relative to its competitors.

External competitivenes

3rd Module Assessment

4th Module Assessment

5th Module Assessment

Assignment 2

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Compensation and Reward Management (HR712)-Semester III

2nd Module Assessment

competitiveness means organization’s pay relative to its competitors.

External competitivenes

3rd Module Assessment

4th Module Assessment

5th Module Assessment

Assignment 2

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