A Time Study Analyst Is Attempting to Determine the Standard

question 29

Multiple Choice

A time study analyst is attempting to determine the standard time for a work element. She or he observes a worker performing the work element at a lower-than-average pace. How will this fact be reflected in the time standard that is eventually created?

• A) The frequency of the work element per cycle will be increased.
• B) The proportion of allowance time will be increased above 1.0.
• C) The performance rating factor will be set less than 1.0.
• D) The normal time for the work element will be increased.

Distinguish between different types of reports (informational, directive, progress, and status reports) and their purposes.

Recognize the importance of tone, format, and structure in professional reports to maintain professionalism and achieve desired outcomes.

Identify the organizational patterns frequently used in progress reports.

Learn the basic formats for informational reports and how to choose the right one for specific situations.

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Definitions:

Bears All The Risk

A term referring to the situation where an individual or entity assumes the entire risk associated with an investment or decision.

Variable Annuity Contract

A retirement investment product that provides periodic payments to the holder, where the amounts can vary based on the investment performance of the selected options.

Prudent Investor Rule

An investment manager must act in accord with the actions of a hypothetical prudent investor.