Business Administration
Chapter Exam Questions
Course Introduction
Business Administration is a multidisciplinary field that focuses on the management and operation of organizations by integrating principles from economics, finance, marketing, human resources, and strategy. This course explores the key functions of business, including planning, organizing, leading, and controlling, and examines how organizations create value in competitive environments. Students will learn fundamental business concepts, decision-making techniques, and leadership skills necessary to effectively manage resources, drive growth, and adapt to changing markets. The course also covers ethical considerations and the impact of globalization on contemporary business practices.
Recommended Textbook
Strategic Compensation A Human Resource Management Approach 9th Edition by Martocchio
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Page 2
Chapter 1: Strategic Compensation: a Component of Human Resource Systems
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Q1) Which stakeholder group turns to compensation professionals for advice about appropriate pay rates for jobs?
Answer: Line managers
Q2) This concept describes a company's success when the company acquires or develops capabilities that facilitate outperforming the competition.
A)differentiation
B)capital
C)compensation practices
D)competitive advantage
Answer: D
Q3) ________ and ________ programs are key to giving employees the necessary knowledge and skills to use new workplace technology effectively.
Answer: Pay-for-knowledge,skill-based pay
Q4) Apple Computer's use of a differentiation strategy promotes both ________ and ________.
Answer: market demand,brand loyalty
Q5) The demand for human resource professionals is ________.
Answer: increasing
3
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Chapter 2: Contextual Influences on Compensation Practice
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Q1) Intentionally treating women less favorably than men based upon their gender would be what form of discrimination?
A)disparate treatment
B)disparate impact
C)disparate causality
D)situational discrimination
Answer: A
Q2) An employee has a regular hourly rate equal to $10 and works 45 hours within a period of 7 consecutive days.What is the total amount the employer should pay this employee for 45 work hours?
A)$425
B)$450
C)$475
D)$500
Answer: C
Q3) Manufacturing is considered to be a ________ intensive industry. Answer: capital
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Page 4
Chapter 3: Traditional Bases for Pay: Seniority and Merit
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Q1) List and discuss four possible limitations of merit pay programs.
Answer: An answer should contain any of the following elements:
1)The failure to differentiate among performers: When there is no clear difference in actual job performance,companies may provide alternative rewards such as higher discounts on the company's product or service to complement merit pay increase.
2)Poor performance measures: Job analysis can be used to create objective performance measures.
3)Supervisors' biased ratings of employee job performance: Major types of rater errors include bias errors,contrast errors,errors of central tendency,and errors of leniency or strictness.HR departments can help raters to minimize errors by choosing better rating systems and recognizing common errors.For instance,to avoid errors of central tendency,HR professionals should require justification for rating at every level of the scale,not just the extremes.
4)Lack of open communication between management and employees: An employee develops reasonable expectations when there is open communication between management and employees.
Q2) Merit pay systems primarily rely on ________ performance measures.
Answer: subjective
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Page 5
Chapter 4: Incentive Pay
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Q1) Which of the following performance measures corresponds to individual-,group,and companywide incentive plans,respectively?
A)customer satisfaction, quantity of work, and quality of work
B)quantity of work, market share, and customer satisfaction
C)quality of work output, customer satisfaction, and revenue
D)customer satisfaction, market share, and quality of work
Q2) This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specified profit goal.
A)fluctuating first-dollar-of-profits
B)differed first-dollar-of-profits
C)graduated first-dollar-of-profits
D)fixed first-dollar-of-profits
Q3) Which of the following is an operational measure used in company-wide incentive plans?
A)safety/occupational injury rates
B)revenue growth
C)earnings per share
D)operating income
Q4) The Improshare bonus is based on a ________ ratio formula.
Page 6
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Chapter 5: Person-focused Pay
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Q1) This type of pay program rewards employees for successfully learning specific curricula.
A)skill-based
B)person-based
C)pay-for-knowledge
D)incentive
Q2) Which of the following is a reason many European and Pacific Rim employees are better skilled and able to work more productively than American workers?
A)Both European and Pacific Rim economies provide a higher quality of academic preparation and workplace learning for the non-college portions of their work forces.
B)Partnerships between public educators and employers are much stronger in the United States.
C)Learning is accorded a higher standing in the operations of the U.S. economy than in the European and Pacific Rim economies.
D)Americans do not have equal access to educational opportunities.
Q3) ________ skills refer to similar skills or knowledge.
Q4) ________ skills are those skills typically considered supervisory.
Q5) Compare and contrast the concepts of job-based pay and person-focused pay.
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Chapter 6: Building Internally Consistent Compensation Systems
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Q1) One of the essential skills that software development engineers must have is the proficiency in at least one of the modern computer programming languages,such as Java or C++.This must be indicated in which part of the job analysis description?
A)working conditions
B)job evaluation
C)worker requirement
D)job content
Q2) ________ describe preferences for work environments and outcomes.
Q3) These are the salient job characteristics that are the general basis for job evaluations and are used to establish relative pay rates.
A)job descriptions
B)compensable factors
C)occupation descriptions
D)ranking plans
Q4) Compare and contrast job analysis and job evaluation.
Q5) ________ information describes physical and social factors that influence the nature of work.
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Q6) ________ are the social context or physical environment where work will be performed.
Chapter 7: Building Market-competitive Compensation Systems
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Q1) What is an appropriate pay policy mix?
Q2) Companies pursuing a differentiation strategy are most likely to use which pay level policy?
A)market lead
B)market average
C)market lag
D)market match
Q3) ________ is defined as an in-depth examination of the external and internal environmental factors that are likely to have the greatest impact on the future of the company.
A)Market-competitive pay structure
B)Regression analysis
C)Competitive strategy
D)Strategic analysis
Q4) In statistical analysis,which of the following is used to signify extreme observations?
A)deviations
B)extremities
C)outliers
D)variants
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Chapter 8: Building Pay Structures That Recognize
Individual Contributions
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Q1) Richard's job has a compa-ratio of 0.85.What does this ratio tell about Richard's pay rate?
A)It is highly competitive with the market.
B)It is not competitive with the market.
C)There is no way to judge its competitiveness.
D)You need more information to judge it.
Q2) 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)The midpoint will be higher than the market average.
C)The midpoint will be lower than the market average.
D)There is not enough information to make this determination.
Q3) Money that covers the basic living expenses of sales professionals is better known as a ________.
Q4) With which sales compensation plan does the level of pay not vary when sales volume does vary?
A)commission-only
B)salary-only
C)salary -plus-bonus
D)salary plus-commission
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Chapter 9: Discretionary Benefits
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Q1) Retirement programs,or ________,provide income in the form of an annuity to employees and their beneficiaries during some or all of their retirement.
Q2) Which of the following is the most common type of life insurance policy offered by companies?
A)group life
B)term life
C)whole life
D)universal
Q3) A 401(k)plan is which of the following types of retirement benefits?
A)defined contribution
B)defined benefit
C)qualified benefit
D)nonqualified benefit
Q4) The ________ is the U.S.tax code.
Q5) Which of the following contributed to the use of flexible benefits plans?
A)greater workforce diversity
B)cost savings initiatives
C)unions
D)global competition
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Chapter 10: Legally Required Benefits
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Q1) PPACA distinguishes between health plans that existed prior to the March 23,2010,enactment date and those that come into existence afterward.Individual and group health plans already in existence prior to enactment are referred to as ________ plans.
Q2) How is Medicare Part A financed?
A)payroll taxes paid only by employers
B)out-of-pocket
C)payroll taxes paid by both employers and employees
D)congressional fiat
Q3) How often will Jill receive an unemployment check?
A)daily
B)weekly
C)bi-monthly
D)monthly
Q4) Starting January 1,2004,eligible individuals are allowed to establish HSAs under which law?
A)Health Maintenance Organization Act
B)Mental Health Parity Act
C)Medicare Prescription Drug, Improvement and Modernization Act
D)HIPAA
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Chapter 11: Compensating Executives
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Q1) The ________ Act of 2002 brought a number of reforms to enhance corporate responsibility,enhance financial disclosures,and combat accounting fraud due to dishonesty in companies such as Enron and Tyco.
Q2) After the recent merger of ABC and XYZ Airlines,the former CFO of XYZ Airlines,John,lost his employment in the newly merged airline.Which executive compensation agreement is customary in such circumstances?
A)stock buyout plans
B)clawback awards
C)platinum parachutes
D)golden parachutes
Q3) Describe golden parachute and platinum parachute practices.How are they similar to each other? How are these different from each other?
Q4) Which of the following describes CEO compensation that is deemed ineffective?
A)pay-for-status
B)pay-for-nonperformance
C)seniority-based pay
D)person-focused pay
Q5) ________ bonuses are awarded to executives by boards of directors on an elective basis.
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Chapter 12: Compensating the Flexible Work Force:
Contingent Employees and Flexible Work Schedules
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Q1) ________ have full-time jobs and plan on having long-term relationships with their employers.
Q2) After working a regular 40-hour workweek in the office,Mary takes her company laptop home and generally spends an hour or two responding to work e-mails.This is an example of which of the following?
A)working condition fringe benefit
B)employee choice
C)on call time
D)employer mandate
Q3) What are the strategic issues involved with contingent and flexible workers for a company pursuing a lowest cost strategy?
Q4) Carlos works at XYZ Innovations Inc.as a computer scientist.________ schedules enable Carlos to work four 10-hour days.
Q5) What are three advantages to using flextime schedules?
Q6) James works at home 3 days a week and works at his office 2 days a week.His employer provides a computer,modem,and printer for him to use at home.The equipment for his off-site use is an example of ________.
Q7) Explain the reasons why employers hire temporary workers.
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Chapter 13: Compensation Expatriates
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Q1) Employers usually rely on which source to determine housing and utilities support?
A)U.S. Department of State's quarters allowances
B)Consumer Price Index
C)Indexes of international labor costs
D)U.S. Department of State's International Consumer Price Index
Q2) ________ premiums reward employees for moving from one assignment to another.
Q3) ________ is the transition process of working in a domestic assignment in a worker's home country after having worked on an international assignment abroad.
Q4) The ________ allowance compensates expatriates for their sacrifices while on assignment.
Q5) ________ benefits allow for expatriates to take paid time off back in the United States.
Q6) Which of the following factors has contributed to the expansion of global markets?
A)stricter labor laws outside the United States
B)onshoring outside the United States
C)multicultural diversity within the United States
D)unification of the European markets
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Chapter 14: Pay and Benefits Outside the United States
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Q1) Employment costs were highest in which two countries?
A)Germany and the United States
B)Mexico and the United States
C)Brazil and the United States
D)Canada and the United States
Q2) Chris has been working in Vancouver,Canada at an accounting firm for the last 10 years.Which of the following is false regarding his paid time off benefits?
A)He is entitled to 8 weeks of paid leave to care for a seriously ill family member.
B)His paternity leave provisions are coordinated under the Federal Employment Insurance Act.
C)He is entitled to 8 or 9 annual paid holidays.
D)He is entitled to 3 weeks of paid vacation time and a sum of money as vacation pay.
Q3) In Germany,an employee can request up to how many year(s)of child-rearing leave?
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16
Chapter 15: Challenges Facing Compensation Professionals
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Q1) Which is believed to be one of the reasons for President Obama's call to increase the overtime pay threshold?
A)Companies believe that increasing the overtime pay threshold will promote competitive advantage.
B)Labor unions have threatened to strike.
C)New York and California have already set thresholds that are higher than the federal level (as of July 2015).
D)Raising the threshold will directly lead to a lower unionization rate in the private sector.
Q2) Although Congress has yet to raise the federal minimum wage (as of June 2015),
A)some states have chosen to raise their minimum wage rates.
B)all of the states have set aside discussions of possibly raising their minimum wage rates.
C)businesses are pressuring the federal government to act on increasing the minimum wage rate.
D)some states have engaged in discussions about repealing their minimum wage laws.
Q3) What are some of the issues associated with rising wages in China?
Q4) Companies promote profits,in part,by holding down employees' ________.
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