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  • Exam Name: Business Acumen for Compensation Professional
  • Last Update: Apr 24, 2024
  • Questions and Answers: 78
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C8 Practice Exam Questions with Answers Business Acumen for Compensation Professional Certification

Question # 6

Regarding key competencies for financial management, HR management and resource management, what sets top performers apart?

A.

The level of formal education in each area

B.

The ability to prioritize which is most critical in any given situation and allocate time and resources accordingly

C.

The ability to tie them together, distill key messages and make impactful decisions

D.

Effective interpersonal and communication skills that can overshadow minor deficiencies in any one area

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Question # 7

Assessment of current and future staffing needs should be based primarily on what?

A.

Compensation budgets only because staffing cannot exceed the funds available

B.

A combination of organizational goals and budget realities

C.

The consensus of HR management and line management estimates

D.

The opinions of senior leaders in the organization

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Question # 8

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 the compensation professional has a fiduciary responsibility to ensure that the financial resources of their organization are spent in a prudent manner

C.

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

D.

They shouldn’t. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.

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Question # 9

Your company has had a strong fiscal year with a 15% increase in net income over the prior fiscal year. Share prices are at an all time high. Working with Finance, you have arrived at a 2.5% merit increase budget for the next fiscal year, a smaller increase than the last fiscal year. Finance has indicated that some large capital expenditures will be needed next year, so the company needs to conserve resources. Additionally, Legal is in final negotiations on a lawsuit that may be very costly to the company. Word of the smaller increases has line management concerned that they will lose their best performers. Given all of these factors, what is your best course of action?

A.

Implement the merit increase budget as is because the anticipated financial obligations have made it necessary

B.

Meet with Finance and make a case for a larger merit increase budget because the loss of key talent will cost more over the long term than the savings from the smaller merit increases

C.

Gather the perspectives of all stakeholders, analyze their individual concerns and meet to determine whether a compromise solution is possible

D.

Recommend a reduction in force to eliminate poor performers, which will increase the merit budget by reducing headcount

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Question # 10

What do working capital metrics evaluate?

A.

The change in working capital over a specific period of time, typically one year

B.

A company’s efficiency in converting short-term capital into cash

C.

A company’s mean capital expenditure per employee

D.

The amount of cash needed to meet the company’s short-term obligations

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Question # 11

An organization whose focus is on obtaining capital, marketing products or services, sales growth and cash conservation is most likely to be in what stage of the business lifecycle?

A.

Start-up

B.

Growth

C.

Mature

D.

Decline

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