Market Pricing - Module 5
Q1 . To apply an annual aging factor, you would use the following formula: Survey aging factor = (Number of months to age/12 months) * Annual Aging Factor
Q2 . Blending can be defined as the process of using the market rate for two or more jobs to establish the market rate for a hybrid job.
Q3 . Weighting multiple sources for the same job is the process of allocating additional emphasis (i.e. weight) on a particular survey when using multiple survey sources for the same job.
Q4 . The process of blending and weighting creates a market rate composite.
Q5 . After collecting survey data (module 4), the next step is to analyze the data.
Q6 . Utilizing survey data is an exacting science.
Q7 . Utilizing external equity to determine market pay, should an accountant in the Mexico expect to be paid the same as an accountant in the U.K.?
Q8 . The key to interperting data in your survey and blending it into your organization's compensation philosophy is understanding how the statistics are computed in the survey.
Q9 . Aging data is defined as:
From Classroom to Quiz Stardom
When James Wilson first created a quiz on ancient civilizations for his high school history class, he never imagined it would lead to a side career as one of QuizMaker's most successful creators.
Three years and over 200 quizzes later, James's 'History Mysteries' series has amassed more than 2 million plays and a dedicated following of history enthusiasts from around the world.
Finding a Niche in Historical Puzzles
James's approach combines historical accuracy with engaging storytelling and problem-solving elements. 'I wanted to create quizzes that weren't just about memorizing dates and names,' he explains. 'Each quiz tells a story and invites players to solve a historical mystery or puzzle.'
This unique format has resonated with players who might not typically be drawn to history content, helping James build an audience beyond traditional history buffs.
Building a Community Around Historical Content
Beyond creating engaging quizzes, James has built a thriving community through his dedicated social media channels and a monthly newsletter where he shares historical facts, behind-the-scenes research, and previews of upcoming quizzes.
'The community aspect has been the most rewarding part,' James says. 'I receive messages from students saying my quizzes helped them develop a love for history, and from older adults who enjoy testing their knowledge and learning new things.'
Monetization Strategy
While James started creating quizzes as a teaching tool, they've now become a significant source of income. Through a combination of premium quizzes, sponsorships from educational companies, and affiliate marketing for history books and courses, he's been able to generate substantial revenue.
'Last year, my quiz income actually exceeded my teaching salary,' James reveals. 'It's allowed me to reduce my teaching hours and focus more on creating high-quality educational content.'