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C17 Exam Dumps - WorldatWork Certification Questions and Answers

Question # 4

What is included in total direct compensation?

Options:

A.

Long-term incentives

B.

Direct benefits expenses

C.

Event tickets

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Question # 5

A compensation philosophy includes which of the following?

Options:

A.

Statement of what the organization believes about how people should be rewarded.

B.

Statement of what the organization believes about its products and services.

C.

Statement of what the organization believes about its competitors.

D.

Statement of what the organization believes about its customers.

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Question # 6

What is job worth hierarchy?

Options:

A.

A ranking of jobs based on the number of years of experience required

B.

A ranking of jobs based on the level of education required

C.

A ranking of jobs based on their worth to the organization

D.

The process of grouping or categorizing jobs relative to other jobs, based on factors such as skills, responsibilities, and pay level

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Question # 7

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

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Question # 8

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

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Question # 9

Which of the statistical data points answers this question: On average, what are incumbents in a particular job paid?

Options:

A.

Median

B.

Range

C.

Mode

D.

Weighted mean

E.

Unweighted mean

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Question # 10

What does it mean to set pay at mid-year anticipated market level?

Options:

A.

Setting pay at mid-year anticipated market level

B.

Setting pay below market levels

C.

Setting pay above market levels

D.

Setting pay at current market levels

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Question # 11

Which one of the following terms refers to the act of adjusting pay rates based on a predetermined formula that takes into account factors such as cost of living and inflation?

Options:

A.

Market pricing

B.

Wage and salary surveys

C.

Pay compression

D.

Cost-of-living adjustments

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Question # 12

What is a salary survey?

Options:

A.

A survey of employee job satisfaction

B.

A survey of employee benefits

C.

A survey of employee performance ratings

D.

A survey of compensation data for jobs in the same or similar industries

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Question # 13

When can slotting be considered?

Options:

A.

When market data are not available for a specific job

B.

When an organization is undergoing a restructuring process

C.

When an employee is promoted to a higher position

D.

When an organization is experiencing financial difficulties

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Exam Code: C17
Exam Name: Market Pricing - Conducting a Competitive Pay Analysis
Last Update: Feb 23, 2025
Questions: 0
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