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Market Pricing - Module 5

Question 1 of 3

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: