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WorldatWork C8 Dumps

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Total 78 questions
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Business Acumen for Compensation Professional Questions and Answers

Question 1

The Alpha company ships an order to a customer on March 1st and invoices the customer for the product with the shipment, with payment terms of net 30 days. The customer’s payment is received on April 5th. The payment clears the bank and shows on Alpha’s account on April 8th. If Alpha is using accrual accounting, when does it record the revenue for this sale?

Options:

A.

March 1st

B.

March 31st

C.

April 5th

D.

April 8th

Question 2

What best describes a necessary skill and/or behavior in relation to business acumen?

Options:

A.

An understanding of the culture and subcultures of your organization

B.

The capacity to manage multiple projects and priorities and meet deadlines

C.

A willingness to take on additional duties and responsibilities when resources are limited

D.

A thorough understanding of the products and/or services your organization provides

Question 3

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

Options:

A.

A Star

B.

A Question Mark

C.

A Market Leader

D.

A Cash Cow

Question 4

What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?

Options:

A.

Being firm and uncompromising in your decision-making

B.

Representing your view with data and relating it to business results

C.

Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking

D.

Giving priority to perspectives based on the job or influence level of the stakeholders

Question 5

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

Options:

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

Question 6

What information is found on the balance sheet?

Options:

A.

A list of what is owned, what is owed and the equity of an entity

B.

The revenues and expenses incurred by an entity over a period of time

C.

The change during the reporting period in cash and cash equivalents

D.

The profitability of the company as of a specific date

Question 7

Which of the following is the best example of a variable cost?

Options:

A.

Audit fees

B.

Rent

C.

Maintenance

D.

Shipping

Question 8

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

Options:

A.

Operational excellence

B.

Product/service leadership

C.

Customer intimacy

D.

Brand loyalty

Question 9

Regarding fixed and variable costs, what tends to happen as revenue increases?

Options:

A.

Variable costs decrease

B.

Fixed costs decrease

C.

Variable costs increase and consume a higher percent of revenue

D.

Fixed costs remain the same and consume a lower percent of revenue

Question 10

You have been asked to develop a short-term incentive plan that motivates employees in business units to increase productivity. Your team has designed a plan that rewards managers and employees quarterly based on achievement against target on measures that should generate productivity increases that will self-fund the plan. When presenting the plan to senior management, what would be the best strategy to receive approval?

Options:

A.

Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy

B.

Provide details on the plan design and measures and how they will be administered to employees at different levels

C.

Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains

D.

Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have

Question 11

Internal process metrics are most useful in which of the following situations?

Options:

A.

Assessing how well the business is running

B.

Determining employee satisfaction levels

C.

Measuring the financial success of the business

D.

Evaluating customer perceptions of products or services

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Total 78 questions
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