[Dec-2021] Latest WorldatWork CECP exam dumps and online Test Engine
WorldatWork CECP: Selling WorldatWork Other Certification Products and Solutions
NEW QUESTION 42
The "return" represented by the Total Shareholder Return (TSR) metric is the increase in what?
- A. Earnings
- B. Market capitalization
- C. Shares
- D. Increased market value and reinvested dividends paid
Answer: D
NEW QUESTION 43
What is the primary reason why a compensation professional working for a multinational company should understand regulatory requirements and application of rewards globally?
- A. They shouldn't. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.
- B. Because the compensation professional has a fiduciary responsibility to ensure that the financial resources of their organization are spent in a prudent manner
- C. Because legal compliance with compensation-related regulations is the responsibility of the compensation department
- D. Because it is possible to pay significantly less for talent in different countries and compensation should advise management on when and where to locate various jobs within the company
Answer: B
NEW QUESTION 44
Which of the following is a type of variable pay?
- A. Piece rate
- B. Bonuses
- C. Hourly pay
- D. Pay for time not worked
Answer: B
NEW QUESTION 45
How are the compensation communication needs of managers different from those of individual employees?
- A. They aren't. Managers are concerned about their compensation also.
- B. They tend to have more influence, so it is important to resolve any concerns they have quickly and efficiently.
- C. They are also responsible for merit increases, incentives and hiring so they have greater information needs.
- D. They have more duties and responsibilities and are less likely to have the time to discuss compensation issues.
Answer: C
NEW QUESTION 46
What best describes an effective core technique for communicating with executives?
- A. Focus on negative issues first, such as compensation costs exceeding budget, to get their attention
- B. Recommend a solution that will solve the issue and explain why it is the best solution available.
- C. Assume they have little knowledge of the issue and make a detailed presentation leading up to the purpose of the meeting.
- D. Provide a wide range of facts and figures. With their high level of responsibility, executives must have all the data before they can make informed decisions.
Answer: B
NEW QUESTION 47
Administering budgets is an example of what key competency for compensation professionals?
- A. Financial Management
- B. Resource Management
- C. HR Management
- D. Policy Management
Answer: A
NEW QUESTION 48
What is the most common term for the broad framework of principles and approaches that guide day-to-day decisions affecting the business, including how it positions itself in the market?
- A. The business plan
- B. The competitive strategy
- C. The mission statement
- D. The corporate objective
Answer: B
NEW QUESTION 49
When trying to achieve compromise and collaboration to achieve your goals, on which stakeholder(s) should you focus most of your efforts?
- A. Influencers and decision-makers who have the respect of employees and are both proponents and opponents of your objectives
- B. Individuals with power in the organization who have the authority to overrule the concerns of opponents
- C. No one person. Identify your stakeholders and work to achieve consensus among the majority.
- D. The most senior leader with the highest level of authority
Answer: A
NEW QUESTION 50
What is a primary purpose of pay grades or bands?
- A. To justify paying some employees less than market based on internal administrative limitations
- B. To meet legal and regulatory requirements for classifying jobs according to market value
- C. To provide documentation that supports termination decisions
- D. To identify a compensation range in which to group multiple jobs with similar value
Answer: D
NEW QUESTION 51
What is the most accurate definition of organizational vision?
- A. A statement of what kind of organization it wants to be and the guiding principles and/or beliefs shared by stakeholders
- B. A description of who the organization is, where it is headed and what it wants for the future
- C. A written explanation of the intention or purpose of the organization and why it is in business
- D. A detailed account of the organization's goals, directions to achieve them and how it will compete
Answer: B
NEW QUESTION 52
What is the term for the skills, technologies, applications and practices of continuous iterative exploration and investigation of past business performance used to gain insight and drive business planning?
- A. Business forecasting
- B. Business analytics
- C. Predictive modeling
- D. Statistical analysis
Answer: B
NEW QUESTION 53
Information on the annual report shows results for what time period?
- A. The fiscal year, which matches the calendar year from January 1 to December 31
- B. The calendar year from January 1 to December 31
- C. The fiscal year, which may match the calendar year or may be a different 12-month period, depending on the company
- D. The fiscal year, which shows results from July 1 to June 30
Answer: C
NEW QUESTION 54
Regarding market position, a business with a high market share but low growth potential is typically referred to as what?
- A. A Market Leader
- B. A Question Mark
- C. A Cash Cow
- D. A Star
Answer: C
NEW QUESTION 55
What challenge is most likely faced by a business with low market share and high growth potential?
- A. Its excess resources are often used to develop other businesses that may not be mission-critical.
- B. It is unclear how to best utilize the high cash flow to sustain growth.
- C. It is in the worst market position and has insufficient resources to continue operations.
- D. Its ability to generate profits is unknown.
Answer: D
NEW QUESTION 56
Which of the following is a type of variable pay?
- A. Piece rate
- B. Commissions
- C. Salary
- D. Hourly rate
Answer: B
NEW QUESTION 57
What most accurately describes a reason why organizations use financial reports?
- A. To create a historical record of financial performance and identify trends that may justify changes in strategy
- B. To differentiate company financial data from industry competitors to prevent loss of proprietary information
- C. To provide subjective information to key constituents that reflects the company's performance in the most favorable manner depending on stakeholder priorities
- D. To promote consistency of communication regarding company performance and value
Answer: D
NEW QUESTION 58
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