Quantitative Principles in Compensation Management (C3E) Free Practice Test

Question 1

An executive is hired at 80,000/yr. His is guaranteed a 6,000 salary increase after 6 months. What % increase is that?

A. 7.0%

B. 7.5%

C. 6.5%

D. 6.0%

Correct Answer: B

Question 2

Why do we sample?

A. Because samples are more accurate than populations

B. Because population data are unreliable

C. Because computers only work with sample data

D. Because of the lack of time and money

Correct Answer: D

Question 3

If the midpoint is 2,000 and the desired range spread is 50%, what are the min and max values?

A. 1,750 min; 2,250 max

B. 1,600 min; 2,400 max

C. 1,700 min; 2,300 max

D. 1,500 min; 2,500 max

Correct Answer: B

Question 4

You start with 1,800 in your savings account. You do not make any deposits or withdrawals and earn 10% interest, compounded quarterly. How much money will you have in your account after five years?

A. 2,674.71

B. 1,149.51

C. 2,898.92

D. 2,949.51

Correct Answer: D

Question 5

In positively skewed distributions, the mean is usually which of the following?

A. Larger than the median

B. Between the median and the mode

C. Equal to the median

D. Smaller than the median

Correct Answer: A

Question 6

The average seniority for your company is 16 years, and the standard deviation for seniority is one year. You have been with the co for 19 yrs, and your sister for 13 years. Which of the following is not necessarily true?

A. Your sister has a z-score of -3.00 in regards to her seniority with the company.

B. The seniority for at least 88.9% of the emps in this company will fall between your sister's seniority and yours.

C. You are the most senior employee in your company.

D. Your "years of seniority" value is three standard deviations above the average emp in your company.

Correct Answer: C

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