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NEW QUESTION # 34
What metric should compensation professionals pay closest attention to for ensuring alignment between the compensation strategy and the HR and business strategies?

• A. Variable pay costs as a percent of total compensation
• B. Total compensation expense for the business, including base pay and variable pay
• C. Reward costs as a percent of total operating costs
• D. The organization's market comparatio

Answer: C

NEW QUESTION # 35
Which of the following best describes the most likely perspectives of different groups in the organization that compensation professionals must be aware of?

• A. Investors want to maximize gains and want to see compensation tightly controlled and Legal needs to ensure that compensation plans do not attract undue scrutiny.
• B. Investors and Finance want to see money spent wisely. Legal must ensure compliance, and HR and operating departments want to see their needs taken into account to attract, retain and motivate a high quality workforce.
• C. Operating departments view compensation as it applies to them, HR must balance available resources to attract, retain and motivate employees and Finance knows the value of a motivated workforce and will provide the budget necessary to achieve it.
• D. Operating departments and HR understand the company must live within its means and Finance cannot allocate funds to a budget if it is likely that profitability will be adversely affected.

Answer: B

NEW QUESTION # 36
What question is answered by the organization's mission statement?

• A. Why are we in business?
• B. How will we achieve our objectives?
• C. How do we work?
• D. What direction will we take?

Answer: A

NEW QUESTION # 37
What is a "profit model?"

• A. The financial objectives of the organization
• B. The plan for how the organization generates revenue and makes money
• C. The intention or purpose of the business
• D. A descriptor for how the company works

Answer: B

NEW QUESTION # 38
If employees have a significant impact on the bottom line, what type of pay mix is most appropriate?

• A. High base pay and low variable pay to ensure predictability of total compensation expense
• B. 90/10 for the majority of employees (base/variable) to share in the company's success with increased variable pay for management/executives to motivate employees to seek higher positions
• C. 100% variable pay to motivate all employees to maximize productivity and sales
• D. A varying mix depending on employee influence on goals to provide the necessary incentive to maximize profits

Answer: D

NEW QUESTION # 39
What most accurately describes a reason why organizations use financial reports?

• A. To differentiate company financial data from industry competitors to prevent loss of proprietary information
• B. To promote consistency of communication regarding company performance and value
• C. To create a historical record of financial performance and identify trends that may justify changes in strategy
• D. To provide subjective information to key constituents that reflects the company's performance in the most favorable manner depending on stakeholder priorities

Answer: B

NEW QUESTION # 40
When connecting with other business units, what best describes a reason why is it important to keep up to date on organizational challenges?

• A. Because you will be more informed when differences of opinion occur, lending more credibility to your position
• B. Because you can demonstrate your understanding of issues from multiple perspectives
• C. Because stakeholders with diverse opinions tend to compromise when they are aware that others know their weaknesses
• D. Because you will be able to explain the negative consequences of opposing your position

Answer: B

NEW QUESTION # 41
What is the primary reason why a compensation professional working for a multinational company should understand regulatory requirements and application of rewards globally?

• A. Because legal compliance with compensation-related regulations is the responsibility of the compensation department
• B. 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
• C. They shouldn't. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.
• D. Because the compensation professional has a fiduciary responsibility to ensure that the financial resources of their organization are spent in a prudent manner

Answer: D

NEW QUESTION # 42
What do profits, equity and debt all have in common?

• A. They are all reported on the balance sheet.
• B. Nothing. Each of these is a different financial metric.
• C. They all incur the same costs to the business.
• D. They are all sources of capital.

Answer: D

NEW QUESTION # 43
As a general rule, what are individual contributors most likely to ask about their compensation?

• A. How their pay compares to co-workers
• B. What the take-home pay will be
• C. How the company makes pay decisions that affect them
• D. How the company sets compensation budgets

Answer: C

NEW QUESTION # 44
The XYZ Company produces innovative products and brings them to market in advance of their competitors.
What strategy is XYZ using?

• A. Product/service leadership
• B. Brand loyalty
• C. Customer intimacy
• D. Operational excellence

Answer: A

NEW QUESTION # 45
Regarding cost analysis of compensation expense, which job is most likely to incur fixed costs for the
company?

• A. Production worker
• B. HR Director
• C. IT contractor
• D. Account executive

Answer: B

NEW QUESTION # 46
Which of the following is the best example of a variable cost?

• A. Shipping
• B. Maintenance
• C. Audit fees
• D. Rent

Answer: A

NEW QUESTION # 47
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 # 48
Regarding market position, a business with a high market share but low growth potential is typically
referred to as what?

• A. A Question Mark
• B. A Star
• C. A Market Leader
• D. A Cash Cow

Answer: D

NEW QUESTION # 49
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