Question 1

What does take priority in Market-Based approach to pay structure development?

Options :

A : Internal pay equity

B : Employee job satisfaction

C : External market pricing or competitiveness

D : Employee engagement

Answer: C

Question 2

What does the regression line provide?

Options :

A : The average market pay level

B : The highest market pay level

C : The lowest market pay level

D : A line of best fit of market pay levels for each grade based on the benchmark jobs

Answer: D

Question 3

Which of the following is an advantage of market-based job evaluation and pay structure design?

Options :

A : Any market inequities are built in

B : Simple to administer

C : Takes into consideration the company-s perceived value of a job

D : Legally defensible based on job content

Answer: B

Question 4

What is midpoint-to-midpoint differential?

Options :

A : The difference in wage rates paid at the top and bottom of a salary grade

B : The difference in wage rates paid for the same job in different locations

C : The difference in wage rates paid for jobs with similar job titles

D :

The difference in wage rates paid in the midpoints of two adjacent grades and is also known as a salary range spread

Answer: D

Question 5

What are the data integrity components that may impact the survey quality?

Options :

A : Submissions, data accuracy, survey vendor auditing

B : Survey response rate, survey participant demographics, survey topic relevance

C : Survey cost, survey methodology, survey timing

D : Survey participant anonymity, survey vendor reputation, survey incentives

Answer: A