T1-GR1

T1-GR1 practice questions, page 3 of 6, with answer review and explanations.

Question 11

What is a primary objective of profit-sharing and performance-sharing variable pay plans?

  1. To achieve organizational cost savings through base pay reductions
  2. To increase employee identification with the organization's success
  3. To defer compensation expenses to future reporting periods
  4. To reward individual employees for some significant contribution.

Question 12

Which is the most accurate description of the work-life element of total rewards?

  1. Cash provided by an employer to an employee for his or her efforts and results toward completion of goals
  2. Organizational practices, policies and programs to help employees achieve success within and outside of the workplace
  3. Alignment of organizational, team and individual efforts toward success
  4. Learning experiences designed to enhance employees' skills and competencies.

Question 13

What are usual, customary and reasonable charges (UCR)?

  1. The charges that an insurance carrier determines are normal for a particular medical procedure within a specific geographical area
  2. The charges that are published annually in the Global Insurers' Medical Cost Comparison Guide
  3. The charges that are allowable for any given medical procedure with no pre-treatment authorization
  4. The charges that are typically paid up front by a plan participant for services rendered.

Question 14

What guides the design of all total rewards programs?

  1. The human resources strategy
  2. The business strategy
  3. The business vision
  4. The total rewards strategy.

Question 15

How far do broad banded pay ranges stretch from minimum to maximum?

  1. 10% to 30%
  2. 30% to 50%
  3. 50% to 100%
  4. 100% to 300%.