C3E Practice Exam Questions with Answers Quantitative Principles in Compensation Management Certification

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

Which of the following provide useful guidelines for grouping data into categories?

On January 1 of last year, you had 1,000 emps. Dec 31 there was a 20% reduction in the workforce. By July of this year, you then increased your workforce by 20%. Do you now have 1,000 emps again? If not, how many?

You need 15,000 in two years in order to take that long-awaited and much deserved vacation of your dreams. You can earn 12% interest, compounded quarterly from your credit union. How much money do you need to set aside now?

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?

At 10% investment return, what would be in the same employee's account including investment earnings at the end of the year?

Market based pay = Intercept + (slope) x (job worth). You have collected data and have quantified your model as follows: y = 15000 + 50x. The value of 15,000 in the model represents which of the following?

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?

What does a correlation of +1.0 indicate?

According to the 2-sigma rule, which of the following is true?

A survey shows the average pay for senior accounting clerks is 1,570/mth. Your midpoint for senior-accounting clerks is 1,670 and the average actual pay is 1,550. What is your compa-ratio for accounting clerks? What is your market index?