Merit pay is a one-time financial award based on productivity.
Indicate whether this statement is true or false.
Question 2What is compensation? Define direct financial, indirect financial and nonfinancial compensation.
What will be an ideal response?
Question 3Wages, salaries, bonuses, and commissions are referred to as ________.
A) financial benefits
B) direct financial compensation
C) indirect financial compensation
D) discretionary workplace benefits
Question 4On average, companies spent 31.57 per hour worked per employee in December 2013. Of this total, how much did they spend on wages and benefits, respectively?
A) 28.63 and 9.80, respectively per employee per hour worked
B) 21.77 and 9.80, respectively per employee per hour worked
C) 120.93 and 99.21, respectively, per employee per day worked
D) 7.25 and 4.56, respectively, per employee per hour worked
Question 5What form of compensation consists of the satisfaction that a person receives from the job itself or from the psychological and/or physical environment in which the person works?
A) nonfinancial compensation
B) direct financial compensation
C) indirect financial compensation
D) total internal compensation
Question 6As a pediatric nurse, Cary experiences a significant amount of job satisfaction, which is considered ________.
A) nonfinancial compensation
B) indirect compensation
C) organizational fit
D) personal equity
Question 7Which of the following is an example of indirect financial compensation (employee benefits)?
A) sales commission
B) psychological welfare
C) paid vacation
D) hourly wage
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