2017 (May)
COMMERCE (Speciality)
Course: 603 (Compensation Management)
The figures in the margin indicate full marks
for the questions
(New Course)
Full Marks: 80
Pass Marks: 24
Time: 3 hours
1. Answer the following as directed:
(a)
Objective of compensation is to reduce turnover and encourage company loyalty. (Write
True or False) 1
(b) War fund
theory was propounded by 1
(i) Adam
Smith
(ii) Karl
Marx
(iii) A.
Walker
(iv)
Philip Henry (Choose the correct answer)
(c)
Marginal productivity theory of compensation was propounded by_____. (Fill in
the blank) 1
(d) The
recommendations of the 7th Pay Commission are likely to be implemented with
effect from_______. (Fill in the blank) 1
(e) Profit
sharing is an element of indirect compensation. (Write True or False) 1
(f)
_______appraisal is one of the elements of performance management. (Fill in the
blank) 1
(g)
Mention two characteristics effective incentive plan. 2
2. Write short notes on any four following: 4x4=16
(a) A
Sound Wage Plan
(b) Economic
Theory of Compensation
(c)
Compensation Designing
(d)
Functions of Wage Boards
(e) Tournament
Theory
(f) Objectives
of a Compensation Management
3. (a) What do you mean by compensation management? How does
compensation management help an organisation to achieve its objectives? 7+7=14
Or
(b)
Explain the principles and importance of compensation management. 8+6=14
4. (a) Explain the behavioural theories of compensation. 14
Or
(b)
Describe the compensation differential at individual level. 14
5. (a) What is compensation level planning? Discuss the factors influencing
compensation level planning. 4+10=14
Or
(b) Write
a note on the components of compensation. 14
6. (a) What do you mean by performance appraisal? Discuss briefly
about the process of performance appraisal. 4+10=14
Or
(b) What
do you mean by incentives? Discuss the various types of incentives. 4+10=14
(Old
Course)
Full
Marks: 80
Pass Marks:
32
Time: 3
hours
1. Answer the following as directed:
(a) Name
one element of indirect compensation.
(b)
Employee's acceptance of compensation level is one of the economic theories of
compensation. (Write True or False) 1
(c) Payment
of Gratuity Act was enforced with effect from_____. (Fill in the blank) 1
(d) Loans
and advances are example of_______. (Fill in the blank) 1
(e)
Performance appraisal can also be used for transfer and promotions of
employees. (Write True or False) u Gratuity will be payable to an employee
(i) on his
superannuation
(ii) on
his resignation
(iii) on
his death or permanent disablement
(iv) Any
of the above cases (Choose the correct answer) 1
(g)
Mention two objectives of International Compensation.
2. Write short notes on any four of the following: 4x4=16
(a)
Incentive Wage Plans
(b)
Compensation Management
(c) Behaviou
Behavioural Theories of Compensation
(d) Wage
Boards and Pay Commission
(e) Legal
Environment of Compensation
(f) Problems
of Executive Compensation
3. (a) Define the term 'compensation'. Distinguish between
monetary and non-monetary compensation. 3+9=12
Or
(b) Explain
the principles and importance of compensation management. 6+6=12
4. (a) Discuss the economic theories related to compensation.
Or
(b) What
are the limitations of behavioural theories? Discuss.
5. (a) What is compensation level planning? Discuss the factors
influencing compensation level planning. 3+8=11
Or
(b)
Discuss the process of designing compensation system. 11
6. (a) Define performance appraisal. Discuss briefly about the
process of performance appraisal. 3+8=11
Or
(b) What
do you mean by incentives? Explain the characteristics of an effective
incentive plan. 3+8=11
7. (a) What do you mean by International Compensation Management?
Discuss briefly about the components of International Compensation... 3+8=11
Or
(b) Discuss
the challenges in compensation management. 11
***
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