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Compensation Plan Quiz

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Compensation Plan Quiz
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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the goals of a compensation plan?

To attract the best people for the job

To motivate employees to stay with the organization

To increase morale, motivation, and satisfaction among employees

All of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a market compensation policy?

Paying similarly to what the market offers

Determining the going rate and adding a percentage to the market rate

Determining the going rate and subtracting a particular percentage

None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some internal pay factors that determine compensation?

Compensation strategy

Employer's ability to pay

Type of industry

All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the major external pay factors?

Current economic state

Inflation

Cost of living in an area

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which compensation policy pays higher than the market rate?

Market compensation policy

Market plus philosophy

Market minus philosophy

None of the above

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