HCM Unit 2

HCM Unit 2

University

16 Qs

quiz-placeholder

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HCM Unit 2

HCM Unit 2

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Anu Lingayath

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16 questions

Show all answers

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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