Ultimate Guide to Prepare CECP Certification Exam for WorldatWork Other Certification in 2022
Use Real CECP Dumps - WorldatWork Correct Answers updated on 2022
NEW QUESTION 19
Information on the annual report shows results for what time period?
- A. The fiscal year, which may match the calendar year or may be a different 12-month period, depending on the company
- B. The fiscal year, which shows results from July 1 to June 30
- C. The fiscal year, which matches the calendar year from January 1 to December 31
- D. The calendar year from January 1 to December 31
Answer: A
NEW QUESTION 20
When trying to achieve compromise and collaboration to achieve your goals, on which stakeholder(s) should you focus most of your efforts?
- A. Individuals with power in the organization who have the authority to overrule the concerns of opponents
- B. No one person. Identify your stakeholders and work to achieve consensus among the majority.
- C. Influencers and decision-makers who have the respect of employees and are both proponents and opponents of your objectives
- D. The most senior leader with the highest level of authority
Answer: C
NEW QUESTION 21
Using efficient and cost-effective approaches to integrate technology into the workplace is an example of what key competency for compensation professionals?
- A. HR Management
- B. Resource Management
- C. Financial Management
- D. Policy Management
Answer: B
NEW QUESTION 22
What best describes the compensation philosophy?
- A. Statement of what the organization believes about how people should be paid
- B. The compensation committee's interpretation of how employees can best meet business objectives
- C. Guidelines that determine the administration of compensation programs
- D. Principles that guide the design of compensation programs
Answer: A
NEW QUESTION 23
In what stage of the business lifecycle do companies typically begin standardizing procedures through policy creation?
- A. Mature
- B. Start-up
- C. Growth
- D. Decline
Answer: C
NEW QUESTION 24
How do commissions typically differ from annual incentives for non-executive employees?
- A. They are offered to motivate employee performance.
- B. They tend to make up the larger portion of an employee's total compensation.
- C. They are intended to align the interests of the employee with those of the organization.
- D. They are based on a predetermined performance and reward schedule.
Answer: B
NEW QUESTION 25
What is a "profit model?"
- A. The plan for how the organization generates revenue and makes money
- B. The financial objectives of the organization
- C. The intention or purpose of the business
- D. A descriptor for how the company works
Answer: A
NEW QUESTION 26
Which of the following is the best example of a variable cost?
- A. Shipping
- B. Rent
- C. Audit fees
- D. Maintenance
Answer: A
NEW QUESTION 27
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 corporate objective
- B. The mission statement
- C. The competitive strategy
- D. The business plan
Answer: C
NEW QUESTION 28
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 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
- 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. They shouldn't. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.
- D. Because legal compliance with compensation-related regulations is the responsibility of the compensation department
Answer: B
NEW QUESTION 29
What best describes a key competency of compensation professionals regarding HR management of the organization's employees?
- A. Monitoring individual employee career paths and succession planning
- B. Ensuring they are appropriately selected, developed, appraised and rewarded
- C. Ensuring that all regulatory and voluntary payroll deductions are properly administered
- D. Communicating regularly with line management on performance management
Answer: B
NEW QUESTION 30
What is the most accurate statement regarding the effect of compensation plans on the organization?
- A. They have very little effect as long as they are managed effectively and efficiently
- B. Their success or failure is closely tied to the success or failure of organizationwide goals and objectives
- C. They affect the organization's overall financial status and impact multiple stakeholders across most, if not all, business units
- D. They typically have the greatest effect on net income and operating results of any organizational expense or program
Answer: C
NEW QUESTION 31
Cash compensation is a reward intended to provide what type of motivation?
- A. Extrinsic
- B. Intrinsic
Answer: A
NEW QUESTION 32
What best describes a benefit of business executive with regard to career development?
- A. A greater likelihood of promotion, especially when you are competing with individuals with more experience
- B. It is critical to your career development and a deficiency is very likely to hinder career advancement and success.
- C. Increased marketability, which will lead to qualification for opportunities outside of human resources
- D. The ability to display confidence and decisiveness that will inspire others and make you a better leader
Answer: D
NEW QUESTION 33
Which financial statement or combination of statements provide(s) the most comprehensive view of the company's financial situation?
- A. The income statement
- B. The cash flow statement and the income statement
- C. The cash flow statement, along with the balance sheet and income statement
- D. The balance sheet
Answer: C
NEW QUESTION 34
What is a primary objective of profit-sharing and performance-sharing variable pay plans?
- A. To increase employee identification with the organization's success
- B. To achieve organizational cost savings through base pay reductions
- C. To reward individual employees for some significant contribution
- D. To defer compensation expenses to future reporting periods
Answer: A
NEW QUESTION 35
The "return" represented by the Total Shareholder Return (TSR) metric is the increase in what?
- A. Earnings
- B. Increased market value and reinvested dividends paid
- C. Market capitalization
- D. Shares
Answer: B
NEW QUESTION 36
What type of pay increase is given when an organization finds that its compensation program is behind competitive market rates?
- A. General
- B. Automatic
- C. Merit
- D. Cost of living
Answer: A
NEW QUESTION 37
Regarding presentations to executives, which of the following is most accurate?
- A. Include all details related to the issue
- B. Use multiple media
- C. Leave backup data out of the presentation so there is time to develop an effective response to unexpected questions
- D. Keep them brief
Answer: D
NEW QUESTION 38
What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?
- A. Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking
- B. Giving priority to perspectives based on the job or influence level of the stakeholders
- C. Being firm and uncompromising in your decision-making
- D. Representing your view with data and relating it to business results
Answer: D
NEW QUESTION 39
Which of the following best describes the guiding principles and/or beliefs shared by stakeholders in an organization?
- A. Mission
- B. Vision
- C. Values
- D. Strategy
Answer: C
NEW QUESTION 40
Administering budgets is an example of what key competency for compensation professionals?
- A. HR Management
- B. Policy Management
- C. Resource Management
- D. Financial Management
Answer: D
NEW QUESTION 41
Which of the following is a type of variable pay?
- A. Piece rate
- B. Commissions
- C. Hourly rate
- D. Salary
Answer: B
NEW QUESTION 42
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