
HCM Unit 2
Authored by Anu Lingayath
Business
University

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16 questions
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1.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What are the main functions of Compensation Management?
The Equity Function, The Welfare Function, The Motivation Function, The Retention Function
The Equity Function, The Welfare Function, The Motivation Function, The Cost function
The Welfare Function, The Motivation Function, The Retention Function, The Orville Function
The Equity Function, The Retention Function, The Incentive Function, The Remuneration Function
2.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the Equity Function in Compensation Management?
Non-cash pay offered to employees
Ensures employees are fairly paid
Takes care of psychological needs
Encourages employees to take challenges
3.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What does the Welfare Function focus on?
Psychological and social need satisfaction
Career plans and training
Retention of employees
Equity in pay
4.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the primary goal of the Motivation Function?
To provide health insurance
To ensure fair pay
To encourage employees to take challenges
To retain employees
5.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the Retention Function in Compensation Management?
To retain and develop the knowledge bank
To ensure fair compensation
To provide psychological support
To encourage employee motivation
6.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the formula for calculating the Consumer Price Index (CPI)?
CPI = Total cost of basket of goods in current period / Total cost of basket of goods in base period × 100
CPI = Total cost of basket of goods in base period / Total cost of basket of goods in current period × 100
CPI = (Current price - Base price) / Base price × 100
CPI = Total cost of goods / Number of goods
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the importance of the Consumer Price Index (CPI)?
Measures change in consumers' purchasing power
Calculates the average salary of employees
Determines the cost of living for employees
Sets the base salary for new hires
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