GR1 Online Practice Questions and Answers

A medical benefits plan provision ensuring that the correct plan is paying expenses when the member is covered under more than one plan is known as what?

A. Deductible

B. Coinsurance

C. Coordination of benefits

D. Out-of-pocket expenses.

Which of the following statements best describes defined benefit (DB) plans?

A. There is no promise of a specific benefit at retirement.

B. Individual accounts must be maintained for each participant.

C. They are often integrated with government-sponsored programs.

D. Employees are at risk for financial resources..

Which of the following is a type of variable pay?

A. Pay for time not worked

B. Hourly pay

C. Bonuses

D. Piece rate.

What type of equity incentive gives employees the right to purchase company shares at a specified price?

A. Stock/share options

B. Stock/share grants

C. Restricted stock/shares

D. Performance units.

When building a job worth hierarchy, which step involves the systematic, formal study of the duties and responsibilities that comprise job content?

A. Job analysis

B. Job documentation

C. Job evaluation

D. Job worth hierarchy.

If an organization's business strategy is primarily focused on product/service leadership, which of the following will likely be one of the major objectives?

A. Minimize waste and reward efficiency

B. Provide dependability and ease of purchase

C. Build bonds with targeted customers

D. Create better ideas and commercialize them faster

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

A. Cash provided by an employer to an employee for his or her efforts and results toward completion of goals

B. Organizational practices, policies and programs to help employees achieve success within and outside of the workplace

C. Alignment of organizational, team and individual efforts toward success

D. Learning experiences designed to enhance employees' skills and competencies

Which statement is most accurate regarding a precaution to be taken in communicating total rewards statements?

A. Avoid sending a total rewards statement to an employee's home address.

B. Avoid summarizing each employee's complete total rewards package.

C. Avoid arbitrarily setting a monetary value on intangible benefits that not all employees use.

D. Avoid itemizing the value of benefits or work-life programs. Include only compensation.

Which type of variable pay is best described by this statement: Criteria are discretionary and often defined in broad terms such as "exceptional customer service"?

A. Recognition

B. Bonus

C. Commission

D. Profit-sharing

Which of the following would be a cause of an employee being paid only slightly above the minimum after two years on the job?

A. The job was re-evaluated and moved to a lower grade.

B. The employee receives increases every six months.

C. Market data for the job are much higher than the range midpoint.

D. The employee was minimally qualified upon entry and is still learning the job.