Free Quantitative Principles in Compensation Management Exam C3E Exam Practice Test

For the same problem set, what does the value 50 represent in the same equation? y = 15000 + 50x

• The monetary market-based pay increase associated with every additional point value in the job worth scale
• The ratio of the change in y-values relative to the change in x-values on the line of best fit
• The slope of the line
• All of the above

You have 660 hourly, 420 salaried non-management and 320 salaried management employees. What is the percentage of salaried non-management employees?

• 23%
• 30%
• 45%
• 47%

You have obtained a set of market data that show you senior MIS manager has a market average of 72,000. If you have a 50% range spread, what would the new minimum and maximum be if the new midpoint is 72,000?

• 54,000; 90,000
• 57,600; 86,400
• 60,000; 84,000
• They cannot be determined from the data given

How much interest will you earn on 2,500 in three years, if the interest rate is 6%, and the interest is compounded annually?

• 309
• 477.54
• 489.05
• 977.54

For the same problem set, what should your organization pay for an entry-level production-manual editor, a job that has been determined to be worth 500 job evaluation points. y = 15000 + 50x

• 50,000
• 15,000
• 25,000
• 40,000

What is the mode for the following set of numbers?15, 18, 13, 19, 25, 24, 26, 14, 25, 35, 12, 99, 54, 13, 22, 19, 13

• 19
• 26
• 24
• 13

You have been asked to comment on a proposed provision in the union contract. over the next 3 years, management proposes increases of 2%, 2.5%, 3% over the 3 year life of the contract. The union negotiator insists that it be 3%, 2.5%, 2.0%. Assuming the hourly rate for a job class is 12.50/hr., what is the rate in three years?

• It will be 13.46 after three years
• Management rate is higher
• Union rate is higher
• Cannot calculate

If the minimum is 2,000 and the desired range spread is 40%, what is the midpoint?

• 2,000
• 2,300
• 2,400
• 2,800

Midpoint for grade 14 is 950, and the max is 1,200. Assuming that the structure is symmetric, what is the range spread? (rounded)

• 21%
• 26%
• 52%
• 71%

Which of the following is characteristic of a normal distribution?

• It represents a perfect distribution of data
• It generally is skewed with a tail to the right
• It is best used to force a desired outcome.
• It approximates the distribution of naturally occurring phenomena.