Bachelor of Management Studies (B.M.S.) SEM V 2022 2023 Dec 2023 S HUMAN RESOURCE FINANCE FOR HR PROFESSIONAL COMPENSATION Question Paper - Mumbai University | munotes

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Older exam Dec 2023 - S HUMAN RESOURCE FINANCE FOR HR PROFESSIONALS COMPESATION MANAGEMENT Semester-end · 2022 2023 → Newer exam Dec 2023 - S HUMAN RESEOURCE FINANCE FOR HR PROFESSIONALS COMPENSATION MANAGEMENT Semester-end · 2022 2023 →

Questions asked in this paper

2) Figures to the right indicate the maximum marks

Q1 (A) Choose the correct answer from the given options and rewrite any 8 statements: 8 marks
- 1. COBRA requirement is generally for months
- 2. An organization’s are the standards and benchmarks of pay packages to different groups or hierarchy of employees, the payment structure, their breakups and modes of payment in any organization
- a. compensation plans
- b. pay structure
- c. compensation
- d. compensation objectives
- 3. refers to the pay corresponding to the difficulty level of the job assigned to an employee
- a. Individual equity
- b. Internal equity
- c. External equity
- d. Social Equity
- 4. An HR professional help to determine the worth of various jobs so that job evaluation is properly conducted
- a. Negotiator
- c. Notifier
- d. Communicator
- 5. Which of the following is considered the first wage incentive plan in modern industrial era?
- a. Halsey plan
- c. Barth plan
- 6. is a richer package of benefits with various rewards like stock options, multiple years of compensation bonus, retirement packages, extended health care coverage etc
- a. Golden parachutes
- b. strategic pay
- 7. represent hourly rates of pay
- a. Wages
- b. Salary
- c. Compensation
- d. Allowance Paper Subject Code: 46005 Human Resource: Finance for HR Professionals & Compensation Management
- 8. Compensation = Wage or Salary + Employee benefits + + Non
- c. Financial Rewards
- d. non financial
- 9. Discrimination in a selection or promotion decision:
- a. 1S an issue, but only because of the human rights legislation now in force
- b. is always illegal
- c. violates the law only if the basis for discrimination is gender or race
- d. is unavoidable, and only is a legal problem if the basis for discrimination is on a legally
- 10. Insurance schemes, retirement benefits and leave travel concession are examples of
- d. None of the above
Q1 (B) True or False (Attempt any 7) 7 marks
- A. Maximum limit of Gratuity payable is of Rs.20 Lakh as per Amendment made in
- B. Employees provident fund is applicable to industries with less than 20 employees
- C. Broad- banding allow greater flexibility in compensation
- D. Sales compensation mostly rely on sales commission which may differ from
- E. Profit sharing can never be on individual basis
- F. 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
- G. There is no provident fund facility available for unorganized sector
- H. COBRA cover plans that provide both life insurance and disability benefits I. Factories Act, 1948 specifies every adult worker is required to work for more than 48
- J. Pay structures should be appropriate to the culture, characteristics and needs of the organization and its employees
Q2 A. Explain the dimensions of compensation. 8 marks
Q2 B. State the process of designing a compensation system. 7 marks
Q2 C. Describe the models of compensation. 8 marks
Q2 D. State the factors contributing to wage differentials? Paper Subject Code: 46005 Human Resource: Finance for HR Professionals & Compensation Management 7 marks
Q3 A. What are the prerequisites of effective incentive plans? Explain any seven prerequisites in brief. (8)
Q3 B. “Technology is significant for incentive management.” validate the statement
Q3 C. What is Human Resource cost Accounting? State Human Resource cost Accounting approaches in brief. (8) State the criterias on which a team can be compensated. (7)
Q4 A. What do you mean by cafeteria approach? Is this approach beneficial? If yes,
Q4 B. Explain Golden Parachutes and Salary Progression Curve. 7 marks
Q4 C. Explain different types of wage differentials. 8 marks
Q4 D. What is a profit sharing plan? What are its features? 7 marks
Q5 A.Explain Golden Parachutes and Salary Progression Curve. 7 marks
Q5 Write Short notes (any 3) 15 marks
- a. Explain Subsistence Theory
- b. 3 ‘P’s of compensation
- c. Adjudication
- d. Wage Boards
- e. Pay Commissions