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Market Pricing - Conducting a Competitive Pay Analysis Questions and Answers

Question 1

What base pay structure designs are required to complete the job evaluation process?

Options:

A.

Job evaluation and performance management

B.

Job analysis and job documentation

C.

Salary surveys and employee benefits

D.

Compensation strategy and total rewards programs

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Question 2

What factors should be considered when aging the data in salary surveys?

Options:

A.

Different rates, market research, and salary increase movements

B.

Market research and aging factor

C.

Salary increase movements and aging over two calendar years

D.

Lead or lag approach and market research

E.

All of the above

Question 3

An organization that is new with few or no formal policies or procedures would most likely be at what stage of the business life cycle?

Options:

A.

Start-up

B.

Growth

C.

Mature

D.

Decline