Bachelor of Management Studies (B.M.S.) SEM V 2023 2024 Dec 2024 S ELECTIVE HUMAN RESOURCE FINANCE FOR HR PROFESSIONALS & COMPENSATION MANAGEMENT Question Paper - Mumbai University | munotes

Questions asked in this paper

• 2) Figures to the right indicate the maximum marks

1. Q1 (A) Choose the correct answer and rewrite the statement. (Attempt any eight) 8 marks
2. Q1 is also called as salary structures
   • (A) Accidental Insurance (B) Wage Levels (C) Cost of Living (D) Compensation
3. Q2 3 P's of compensation does not include
   • (A) Pay for Position (B) Pay for Period (C) Pay to the Person (D) Pay for
4. Q3 Job evaluation helps to assess the real of the job
5. Q4 have a great economic & social significance
6. Q5 are the standards and benchmarks of pay packages to different groups or hierarchy of employees
7. Q6 As per Factories Act No adult worker shall be required to work in factory for more than hours in any week
8. Q7 invites suggestions from the workers to reduce the reduction of cost of
9. Q8 values human resources on the basis of the economic concept of
10. Q9 is also known as severance package or termination agreement
11. Q10 Employee’s share to EPF is
    • (A) 12% of The Basic + DA (B) 12% of Basic (C) 10% of The Basic + DA (D) 10%
12. Q1 (B) State whether the following statements are True or False. (Attempt any Seven)
13. Q1 Compensation management is an integral part of human resource management
14. Q2 Job Based Compensation Plan is the traditional and widely used form of Paper Subject Code: 46005 Human Resource: Finance for HR Professionals & Compensation Management
15. Q3 The group incentive can be based only on piece rate
16. Q4 Short term incentive is mostly given to senior general and functional area executives
17. Q5 Golden parachute is linked to life insurance of the employees
18. Q6 Merit pay consists of an increase in percentage of all the allowances
19. Q7 The impact of Bargaining Theory of Wages is dependent on the involvement of trade unions and the profitability of the organization
20. Q8 Profit sharing can never be on individual basis
21. Q9 Human Resource Accounting is the process of estimating the cost benefit of investments on human resources with a view to assessing their value to the
22. Q10 Pay structures should be appropriate to the culture, characteristics and needs of the organization and its employees
23. Q2 a) Define Compensation. Explain financial components of a compensation plan. 8 marks
24. Q2 b) Explain the internal factors that influence of compensation plan. 7 marks
25. Q2 c) Explain various compensation models. 8 marks
26. Q2 d) Write a detailed note on 3 P’s of compensation. 7 marks
27. Q3 a) Define Incentive plan. What are the various types in incentive plans? 8 marks
28. Q3 b) Write a detailed note on ‘Technology and Incentives’ 7 marks
29. Q3 c) Describe in detail, ‘Types of Wage Differentials’ 8 marks
30. Q3 d) Write in detail about “Subsistence Theory of Wage” 7 marks
31. Q4 a) Who is a special group? What incentives are given to special groups. 8 marks
32. Q4 b) Elaborate “Cafeteria Approach’ with the help of an appropriate example. 7 marks
33. Q4 c) Define Human Resource Accounting. Explain HRCA. 8 marks
34. Q4 d) Define ‘Golden Parachute. How to make a Severance Agreement? 7 marks
35. Q5 a) Explain the Payment of Wages Act, 1936 in detail. 8 marks
36. Q5 b) Explain the Equal Remuneration Act 1976. 7 marks
37. Q5 C. Write short notes: (any 3) 15 marks
38. Q1 Describe the primary objectives of compensation plan
39. Q2 Explain ‘Residual Claimant Theory’
40. Q3 Write a note on Human Resource Value Accounting (HRVA)
41. Q4 Write a note on Gratuity Act 1972

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