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Exam 11: Pay for Performance and Employee Benefits

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Question 51

Multiple Choice

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Which of the following benefits is required by federal or state law?

A) disability insurance
B) workers' compensation
C) paid time off
D) pensions

E) A) and B)
F) B) and D)

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Question 52

Multiple Choice

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Marie, a top manager at Levon Marketing, will receive 500 shares of the firm's stock if the firm's sales increase by 5% in the next quarter. Which of the following was Marie most likely given?

A) phantom stock
B) stock appreciation rights
C) restricted stock plan
D) performance-contingent restricted stock

E) All of the above
F) A) and D)

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Question 53

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You are the CEO of Blue Bay Motor Boat Company, a mid-size firm that manufactures speed boats. What incentive plan would you implement for the firm's engineers? What incentive plan would you implement for the firm's managers? What benefits are you required by law to provide? What types of discretionary benefits would you make available to all employees?

Howard's firm allows employees to assemble their own benefits packages from a variety of benefits options, so Howard's firm most likely offers a cafeteria plan.

Enterprise incentive management software is used by managers to ________.

Gainsharing plans involve putting some portion of an employee's weekly pay at risk for the opportunity to earn incentives if the employee meets or exceeds his or her goals.

Which of the following is considered a hybrid of defined benefit and defined contribution plans?

Broad-based stock option plans are intended to ________.

Which of the following involves setting a production standard for a specific work group and then paying incentives to the group members if they exceed the standard?

Which of the following is the most commonly used tool for motivating employees?

According to research, which of the following has a significant impact on employee engagement?

Furman, an automotive parts manufacturer, employs nearly 800 workers in its Dallas, Texas facility. Furman has always offered its employees health and dental insurance as well as legally required benefits such as unemployment insurance and workers' compensation. Furman's top executives are considering the idea of offering employees a a flexible benefits plan. Which of the following, if true, best supports the argument that Furman should offer employees a flexible benefits plan?

All of the following are examples of organization-wide incentive plans EXCEPT ________.

During difficult economic times, employers have to cut costs. What are some strategies for minimizing the costs associated with employee health care? What no-cost or low-cost methods are available to employers who want to recognize and reward hard-working employees?

Which condition must be met for an injured employee to receive workers' compensation benefits?

An employer's unemployment tax rate depends on the employer's ________.

Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering. One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he works for the firm. This pension plan could be classified as a ________.

Which term refers to the money that an employer and employee have placed in the employee's pension fund that cannot be forfeited for any reason?

An employer would most likely use an enterprise incentive management system to ________.

The firm for which Rob works offers employees counseling services, a credit union, and a physical fitness facility, which are all considered personal service benefits.