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Bus 409 Wk 7 Quiz 6 - All Possible Questions

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BUS 409 WK 7 Quiz 6 - All Possible Questions
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1) This federal Act requires contractors with federal contracts worth over $2,000 to pay wages at least equal to those prevailing in the area where the work is being done.
A) Fair Labor Standards Act
B) Davis-Bacon Act
C) Equal Pay Act
D) Civil Rights Act of 1964

2) What represents the relationship between a company's valuation of jobs based on job evaluation and the valuation of jobs within the external market, as assessed by compensation surveys?
A) market-competitive pay structure
B) pay grade
C) pay range
D) market pay line

3) This term refers to the groupings of jobs based on compensable factors, for the purpose of applying pay policies.
A) market lines
B) market-competitive pay structures
C) pay grades
D) pay ranges

4) When these are used to develop pay grade widths, the grades are based on a set number of job evaluation points for each grade that increases as an employee moves up the pay structure.
A) pay rate spreads
B) percentage-based job evaluation point spreads
C) pay range spreads
D) absolute job evaluation points spreads

5) These represent the horizontal dimension of pay structures.
A) pay ranges
B) pay grades
C) job evaluation points
D) pay spreads

6) Midpoint, minimum, and maximum are values used to define which of the following?
A) pay grades
B) pay ranges
C) pay structures
D) pay levels

7) In establishing pay grades, which pay rate is established first?
A) minimum pay rate
B) midpoint
C) third quartile
D) maximum pay rate

8) If the company adopts a market lead policy, how will that company's pay range midpoint compare to the market average?
A) The midpoint will be the same as the market average.
B) not enough information to determine
C) The midpoint will be higher than the market average.
D) The midpoint will be lower than...


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