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C8 Business Acumen for Compensation Professional Questions and Answers

Questions 4

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

Options:

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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Questions 5

Administering budgets is an example of what key competency for compensation professionals?

Options:

A.

Financial Management

B.

HR Management

C.

Resource Management

D.

Policy Management

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Questions 6

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

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Questions 7

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?

Options:

A.

Start-up

B.

Growth

C.

Mature

D.

Decline

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Questions 8

What challenge is most likely faced by a business with low market share and high growth potential?

Options:

A.

Its ability to generate profits is unknown.

B.

It is in the worst market position and has insufficient resources to continue operations.

C.

It is unclear how to best utilize the high cash flow to sustain growth.

D.

Its excess resources are often used to develop other businesses that may not be mission-critical.

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Questions 9

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

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Questions 10

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

Options:

A.

Audit fees

B.

Rent

C.

Maintenance

D.

Shipping

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Questions 11

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

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Exam Code: C8
Exam Name: Business Acumen for Compensation Professional
Last Update: May 18, 2024
Questions: 78
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