Managing Remuneration - MCQs with answers

Managing Remuneration - MCQs with answers

1. How many components are there in remuneration?

a. 4
b. 5
c. 6
d. 7

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2. Which of the following option is a component of remuneration?

a. Fringe Benefits
b. Commitment
c. External equity
d. Motivation

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3. What is the alternate name for incentives?

a. Gratuity
b. Paid holidays
c. Payments by result
d. None of the above

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4. Match the following components of remuneration with their inclusions -

I. Fringe Benefits ------- A. Stock option
II. Job Context ---------- B. Challenging job responsibilities
III. Perquisites --------- C. Group Plans
IV. Incentives ----------- D. Medical Care

a. I-D, II-B, III-A, IV-C
b. I-B, II-A, III-C, IV-D
c. I-A, II-C, III-D, IV-B
d. I-C, II-B, III-D, IV-A

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5. Which of these is a theory of remuneration?

A. Reinforcement
B. Labour Market
C. Agency

a. A & B
b. B & C
c. A & C
d. A, B & C

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6. Which importance is emphasised by the reinforcement and expectancy theory?

a. Person actually experiencing award
b. Seeking to restore equality
c. Holding identical jobs in the organisation
d. None of the above

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7. Which are the three types of equities mentioned in the equity theory?

a. Internal
b. External
c. Individual
d. All of the above

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8. _____ involves the perceived fairness of pay differentials

a. External equity
b. Individual equity
c. Internal equity
d. All of the above

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9. Who are the two main stakeholders in an organisation?

a. CEO and top management
b. Employers and employees
c. Executives and owners
d. None of the above

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10. Which of these is a consequence of pay dissatisfaction?

a. Strikes
b. Grievances
c. Turnover
d. Job dissatisfaction

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11. Which of these is an internal factor influencing remuneration?

a. Business strategy
b. Cost of living
c. Legislations
d. Society

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12. Rearrange the steps mentioned in a remuneration model.

A. Pay survey
B. Job evaluation
C. Pricing jobs
D. Job hierarchy
E. Job description

a. ABCDE
b. DCBEA
c. EBDAC
d. EACDB

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13. Which of the following is a challenge mentioned in remuneration?

a. Employee participation
b. Pay secrecy
c. Comparable worth
d. All of the above

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14. Under which conditions does skill - based pay system work well?

a. Employee turnover is relatively high

b. To set minimum wages for workers whose bargaining position is weak

c. To abolish malpractices and abuses in wage and salary payments

d. None of the above

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15. Which of the wage concept is higher than fair wage?

a. Minimum wage
b. Living wage
c. Team based pay
d. None of the above

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