Incentive Pay and Performance Plans Worksheet
Authored by ME Johnson
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a requirement for an effective incentive pay plan?
Link to company goals
Employees value rewards
Emphasis on uniform salary
Fair performance measures
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes merit pay from performance bonuses?
Merit pay is temporary
Merit pay is added to base pay
Bonuses are taxed differently
Bonuses are based on attendance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A straight piecework plan pays:
A flat annual rate
Employees for each piece produced, with variable rates
The same rate per piece regardless of quantity produced
A rate only after quotas are met
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which best describes a standard hour plan?
Pay tied to sales figures
Pay increases based on tenure
Pay tied to time saved completing a task
Pay for overall group effort
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which performance plan is most likely to result in team-based innovation?
Piecework
Gainsharing
Stock options
Standard hour
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of stock ownership as incentive pay?
Not legally enforceable
No impact on motivation
Increases turnover
Cannot be taxed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a balanced scorecard used for?
Assigning performance bonuses equally
Reducing payroll
Evaluating performance across key company areas
Balancing accounting records
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