C8 WorldatWork Business Acumen for Compensation Professional exact Exam Questions

Business Acumen for Compensation Professional

Last Update 19 hours ago Total Questions : 78

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Question # 4

A fine jewelry chain distinguishes itself from the competition by focusing on carefully selected customers and building bonds to meet or exceed their needs and expectations. What strategy is this company using?

Operational excellence

Product/service leadership

Customer intimacy

Brand loyalty

Question # 5

What best describes the most effective tactic for getting stakeholders’ attention and buy-in?

Ask them to review or provide feedback, especially on something you have done for them

Talk to the individuals they report to in advance and gain their support so the stakeholders realize upper management already supports your position

Schedule a meeting of all stakeholders and make a strong case that overcomes all of their objections

Explain in precise terms to each stakeholder how your position is the most realistic approach to the issue or concern

Question # 6

What happens to the marginal cost if revenue accelerates slower than variable costs but fixed costs remain the same?

It remains the same.

It decreases because variable costs are increasing.

It increases at the same rate as variable costs.

It becomes increasingly higher as revenues increase.

Question # 7

What best describes the most effective approach for facilitating fact-based decisions?

Ensuring support from all internal and external stakeholders

Estimating results based on historical data

Using statistical methods to predict outcomes

Determining, sourcing and collecting appropriate data

Question # 8

Which of the following is the best example of applying business acumen to data analysis?

Compiling data needed to calculate salary budgets and merit increases

Identifying trends and key messages emerging over time

Reviewing historical trends to complete annual budgets

Providing quarterly incentive estimates for accruals

Question # 9

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

The level of formal education in each area

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

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

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

Question # 10

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

Because legal compliance with compensation-related regulations is the responsibility of the compensation department

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

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

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