FALSE Difficulty Medium Milkovich Chapter p 220 Identifying pay

False difficulty medium milkovich chapter p 220

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FALSEDifficulty: MediumMilkovich - Chapter 008 #6364.(p. 220)Identifying pay survey participants by company name is considered price fixing under the Sherman Act. TRUEDifficulty: MediumMilkovich - Chapter 008 #6465.(p. 221)It is more difficult for employees to compare their salaries to employees in other companies due to increased company pay privacy policies. FALSEDifficulty: EasyMilkovich - Chapter 008 #65
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66.(p. 221)Salary data available to employees via the internet are as reliable and accurate as other more traditional surveys. FALSEDifficulty: EasyMilkovich - Chapter 008 #6667.(p. 222)The Consumer Price Index (CPI) is a useful way of comparing the cost of living in different cities and geographic areas. FALSEDifficulty: DifficultMilkovich - Chapter 008 #6768.(p. 223)Job categories in the BLS survey are broad rather than narrow. TRUEDifficulty: MediumMilkovich - Chapter 008 #6869.(p. 223)The quality of pay surveys may be compared using the same standards used for job evaluations. FALSEDifficulty: MediumMilkovich - Chapter 008 #6970.(p. 224)Though the accuracy of job matches is necessary for pay survey data to be useful, job matches are often subjective and not highly reliable. TRUEDifficulty: MediumMilkovich - Chapter 008 #7071.(p. 226)Pay surveys would not include total labor costs of competitors. FALSEDifficulty: MediumMilkovich - Chapter 008 #7172.(p. 226)Pay surveys include information about both all forms of cash compensation and benefits. TRUEDifficulty: EasyMilkovich - Chapter 008 #7273.(p. 227)Setting your company's base pay to competitors' total compensation risks setting pay too low. FALSEDifficulty: EasyMilkovich - Chapter 008 #73
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74.(p. 228)The greatest challenge of total compensation surveys is how to understand and how to evaluate the information. TRUEDifficulty: EasyMilkovich - Chapter 008 #7475.(p. 229)There is a high degree of consensus among compensation managers regarding how to interpret pay survey data. FALSEDifficulty: MediumMilkovich - Chapter 008 #7576.(p. 229)The process of multiplying survey data by a factor reflecting the difference between a survey and a company job is called survey leveling. TRUEDifficulty: MediumMilkovich - Chapter 008 #7677.(p. 235)A frequency distribution must by constructed to calculate a median. FALSEDifficulty: DifficultMilkovich - Chapter 008 #7778.(p. 235)The most common measure of variation in pay surveys is the standard deviation. FALSEDifficulty: DifficultMilkovich - Chapter 008 #7879.(p. 236)The CPI is not recommended as a good measure for setting the amount to update pay survey data. TRUEDifficulty: MediumMilkovich - Chapter 008 #7980.(p. 236)A pay policy is also called the market pay line. FALSEDifficulty: EasyMilkovich - Chapter 008 #8081.(p. 237)Market lines may be constructed by either freehand drawing or linear regression. TRUEDifficulty: EasyMilkovich - Chapter 008 #81
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82.(p. 242)A pay range exists when at least two employees in the same job are paid different rates. TRUEDifficulty: EasyMilkovich - Chapter 008 #8283.(p. 242)Only jobs with the same number of job evaluation points should be in a pay grade.
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  • Fall '12
  • Davison
  • Management, Quantitative marketing research, competitive pay

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