Compensation Management - 3

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Multiple Answer
Question
Wage differentials are of following factors :-
Correct Answer
Difference in labour efficiency , Social esteem , Occupation
Your Answer
Occupation , Difference in labour efficiency , Social esteem

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

Select The Blank
Question
Against the past practice of modest gradual increase applicable to all, with only marginal additional to the ________ performer.
Correct Answer
Good
Your Answer
Average

Multiple Choice Single Answer
Question
Employees in the railways are entitled of payment of wages Act, 1936 who are drawing wages and salaries below :-
Correct Answer
Rs. 1600/- a month
Your Answer
Rs. 1600/- a month

Multiple Choice Multiple Answer
Question
Due to the paucity of relevant data on wage differentials, it is possible to analyze in India :-
Correct Answer
Wage structure , Pay structure , Salary structure
Your Answer
Wage structure , Pay structure , Salary structure

Multiple Choice Multiple Answer
Question
Any imbalance in input-output relation in any incentive payment scheme can result in :-
Correct Answer
Tension , Lower productivity , More absenteeism
Your Answer
Tension , Lower productivity , More absenteeism

Multiple Choice Multiple Answer
Question
In India, Group incentive plans face problems like :-
Correct Answer
High norms of standard work , Illiterate workforce , Numerous slabs in rate structure
Your Answer
High norms of standard work , Illiterate workforce , Numerous slabs in rate structure

Multiple Choice Single Answer
Question
Differential piece rate system is based on :-
Correct Answer
Dual rates for different efficiency levels
Your Answer
Dual rates for different efficiency levels

Select The Blank
Question
In the history of Indian IT industry, the year 2001-2002 will be remembered as ________.
Correct Answer
Year of lay-offs
Your Answer
Year of lay-offs

Multiple Choice Single Answer
Question
The social structure of individual's life style is evident in the :-
Correct Answer
Urban society
Your Answer
Urban society

Multiple Choice Single Answer
Question
Rate range can be developed in many ways, one usually adopted is :-
Correct Answer
Wage curve
Your Answer
Performance curve

Multiple Choice Multiple Answer
Question
Documents useful for the purpose of wage analysis are :-
Correct Answer
Wage sheets , Payroll , Accounting registers
Your Answer
Wage sheets , Payroll , Accounting registers

Select The Blank
Question
There are many methods that an alive ________ management can creatively develop for employees rendered redundant through little forethought.
Correct Answer
HRD
Your Answer
HRD

Select The Blank
Question
In Taylor differential piece rate system, high piece rate is applicable if ________.
Correct Answer
Output is above standard
Your Answer
Output is above standard

Multiple Choice Single Answer
Question
For a normal adult the net intake of calories should be :-
Correct Answer
2700
Your Answer
2600

Multiple Choice Multiple Answer
Question
In Compensation plans the following are taken into account :-
Correct Answer
Cost of production , Reduction in expenses , Profits made
Your Answer
Reduction in expenses , Profits made , Cost of production

True/False
Question
IT jobs still remain the best paying jobs in the country.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Basic compensation systems are :-
Correct Answer
Time rate system , Piece rate system
Your Answer
Time rate system , Piece rate system , Bonus

Multiple Choice Multiple Answer
Question
Various enactments that are applicable to employees of organization are :-
Correct Answer
Payment of Gratuity Act , Payment of Bonus Act , Employee's Provident Fund & Misc. Provisions Act
Your Answer
Payment of Gratuity Act , Payment of Bonus Act , Employee's Provident Fund & Misc. Provisions Act

Select The Blank
Question
Piece workers come under ________ class of workers.
Correct Answer
Semi - skilled
Your Answer
Unskilled

Multiple Choice Single Answer
Question
Minimum wages are not to be fixed in an industry which employs less then how many employees in the entire state?
Correct Answer
1000
Your Answer
900

True/False
Question
Within the factory group promotion is important.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
In Payroll process, a Journal entry is treated as Control entry to :-
Correct Answer
Book deductions effected during the month , Book expenses for the month on account of payroll , Make remittances to respective authorities
Your Answer
Give effect of unknown transactions in books of accounts , Book deductions effected during the month , Book expenses for the month on account of payroll

Multiple Choice Single Answer
Question
Co-partnership system tries to :-
Correct Answer
Eliminate friction between capital and labour
Your Answer
Gives fixed share to workers

True/False
Question
Indirect labour cost forms a part of overheads.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Top managers
Non-financial benefits
Non-financial benefits
Workers
Piece-rate
Bonus
Salesmen
Commission
Commission
Managers
Bonus
Compensatory day-off

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

Multiple Choice Multiple Answer
Question
A good incentive scheme should have :-
Correct Answer
Elasticity , Parity , Less operational costs
Your Answer
Elasticity , Parity , Less operational costs

Select The Blank
Question
________ is the unique code allotted to each & every employee in the organization.
Correct Answer
Employee No.
Your Answer
Employee No.

Multiple Choice Multiple Answer
Question
Apart from salaries, IT employees are giving importance to :-
Correct Answer
Job content , Job security , Company image
Your Answer
Job security , Company image , Foreign trips

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

Match The Following
Question
Correct Answer
Your Answer
Under E.S.I., employer's contribution
0.0475
0.0475
Under E.S.I. employee's contribution
0.0175
0.0175
Employee Pension Scheme is 8.33% of
Employer
Employer
Employer & Employee Contribution under E.P.F.
0.12
0.12

Select The Blank
Question
The wages of workers not present at the time of payment disbursement should be entered into ________.
Correct Answer
Undisbursed wage register
Your Answer
Undisbursed wage register

Multiple Choice Multiple Answer
Question
Components of wage & salary are :-
Correct Answer
Basic wage , Overtime wage , Dearness allowance
Your Answer
Basic wage , Overtime wage , Dearness allowance

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
Wage and Salary structure

True/False
Question
Performance standards & norms for incentive payments should be set up high for better results.
Correct Answer
False
Your Answer
False

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

Multiple Choice Multiple Answer
Question
Salient features of profit-sharing are :-
Correct Answer
Agreement is voluntary , Payment may be in cash / stock of future credits , Computation on the basis of some agreed formula
Your Answer
Agreement is voluntary , Payment may be in cash / stock of future credits , Remuneration on the basis of efficiency

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

Select The Blank
Question
________ had a decisive influence on the wage structure & wage level.
Correct Answer
Managerial attitude
Your Answer
Market focus

True/False
Question
Wage and salary administration should be controlled by some proper agency.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
The human relations are determined by :-
Correct Answer
Human attitudes
Your Answer
Human attitudes

Multiple Choice Single Answer
Question
If the ranking plan is used the grade consists of a specific number of :-
Correct Answer
Ranks
Your Answer
Points

Select The Blank
Question
________ is a source document for preparation of wage sheet.
Correct Answer
Attendance Register
Your Answer
Attendance Register

True/False
Question
Contribution to the Provident Funds are made at certain rate or certain percentage of salary of employee, only by the Employer.
Correct Answer
False
Your Answer
False

True/False
Question
Incentive schemes should be installed right from beginning of production.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Time spent by same worker on various jobs is recorded on daily basis in :-
Correct Answer
Daily time sheet.
Your Answer
Job card.