The Sarbanes–Oxley Act of 2002 requires that companies can seek repayment for incentives paid that were later found to be materially inaccurate the Securities and Exchange Commission meet annually to discuss bonuses executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company the minimum wage change each year Correct 2 One downside of team incentives is that it does not provide retirement income to employees it does nothing to educate employees about the factors of business success and capitalism managers do not feel that incentives motivate employees equally most employees do not feel that their jobs have a direct impact on profits Incorrect 3 Which of the following laws established the first national minimum wage? McNamara–O’Hara Service Contract Act (1965) Davis–Bacon Act (1931) Fair Labor Standards Act (1938) Walsh–Healey Act (1936) Correct 4 What is driving the increasing costs of healthcare? Passage of the health care exchanges Aging population and an increase in obesity Rising cost of childcare Increasing numbers of legal immigrants Correct 5

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Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service? ERISA (1974) COBRA (1985) ADA (1990) HIPAA (1996) Incorrect 6 __________ is not legally required, and, because of unemployment compensation, many firms do not offer it. Short-term disability Cost shifting Retirement pay Severance pay Correct 7 The gatekeeper in a managed care health insurance plan is the insurance cost monitor the employee the HR representative primary care physician Incorrect 8 Open pay systems tend to work best when effort and performance are related closely over a long time span there is a union to negotiate pay increases job performance can be measured objectively business strategy matches the organizational development stage Correct 9 ______________cover 128 million workers in the United States. Defined-benefit programs Workers’ compensation programs Point-of-service programs Defined-contribution programs Correct 10 ________________ provides a supplemental, one-time payment when death is accidental, and it provides a range of benefits when employees become disabled—that is, when they cannot perform the main functions of their occupations.

The type of private pension plan in which an employer promises to pay a retiree a stated pension is a defined-retirement plan defined-contribution plan defined-benefit plan defined-performance plan Incorrect 18 In labor economics, __________________ theory holds that unless an employee can produce a value equal to the value received in wages, it will not be worthwhile to hire that worker. the marginal productivity the willingness to reduce the size of the workforce the concern with pay for position the percent of company offerings Correct 19 Reviews of both laboratory and field tests of _____________ are quite consistent.

Individuals tend to follow a norm of fairness and to use it as a basis for distributing rewards. the internal labor market organizational needs the external labor market equity theory Correct 20 Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is pay compression pay inequality pay secrecy pay security Incorrect 21 At a comprehensive point of view, a(n) _____ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions. organizational reward system competency-based pay system merit-pay method employee stock ownership plan Incorrect Start Over

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