Question 1 1 pts

What is one-way market pricing supports an organization's business strategy?

Group of answer choices

a-Provides key competitive information on how the organization's compensation levels compare to the market

b-Achieves the goal that no employee should leave the organization due to pay issues

c-Ensures that the organization will always lead the market regardless of financial resources

Flag question: Question 2

Question 2 1 pts

Which statement best describes the term, "relevant labor market(s)"?

Group of answer choices

a-Market(s) which exclude geographic location and organizational size

b-Labor market(s) against which the organization must equal its pay levels

c-Market(s) from which an organization draws and loses its employees

d-Labor market information that is generally applicable only to the manufacturing sector

Flag question: Question 3

Question 3 1 pts

Choose the market position that matches the following description:

"The company's pay philosophy will stay ahead of the market the first half of the year, then fall behind the market."

Group of answer choices

a-Lead

b-Lead-lag

c-Lag

d-Lag-lead

Flag question: Question 4

Question 4 1 pts

Which one of the following terms refers to the act of placing a job into a job worth hierarchy established by a method other than the organization's primary job evaluation method?

Group of answer choices

a-Pay range

b-Market rate composite

c-Slotting

d-Pay policy

Flag question: Question 5

Question 5 1 pts

When using market-based job evaluation, what percentage of jobs in the organization should be benchmarked?

Group of answer choices

a-At least 80%

b-At least 70%

c-At least 60%

d-At least 50%

Flag question: Question 6

Question 6 1 pts

An advantage of using a published survey is that it can be tailored to meet your needs and specifications.

Group of answer choices

a-True

b-False

Flag question: Question 7

Question 7 1 pts

To measure the market for high-demand jobs, you focus on their internal value to the organization.

Group of answer choices

a-True

b-False

Flag question: Question 8

Question 8 1 pts

If you have a small budget, which of the following survey data sources would you consider last?

Group of answer choices

a-Published survey

b-Custom third-party survey

c-Complimentary survey

d-Survey you conduct on your own

Flag question: Question 9

Question 9 1 pts

The method used to age the data from multiple surveys to a common point in time should be included in survey documentation.

Group of answer choices

a-True

b-False

Flag question: Question 10

Question 10 1 pts

Market pricing assists organizations with analyzing pay competitiveness by establishing the merit budget, which is done through analyzing pay trends year over year.

Group of answer choices

a-True

b-False