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NEW QUESTION 44
Regarding fixed and variable costs, what tends to happen as revenue increases?
- A. Variable costs increase and consume a higher percent of revenue
- B. Fixed costs decrease
- C. Variable costs decrease
- D. Fixed costs remain the same and consume a lower percent of revenue
Answer: D
NEW QUESTION 45
Why are lump-sum increases generally used?
- A. To make up for benefits not provided by the organization
- B. To elevate employees who are below the midpoint in the range
- C. To control annual fixed costs from base pay adjustments
- D. To reward employees under short-term incentive plans
Answer: C
NEW QUESTION 46
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?
- A. Brand loyalty
- B. Product/service leadership
- C. Customer intimacy
- D. Operational excellence
Answer: C
NEW QUESTION 47
The XYZ Company opened a new manufacturing facility with a capital investment of 10,000,000. The cost to obtain the capital was 8%. In its first year of operations, the facility's net operating profit after taxes was 10,500,000. What was the economic value added (EVA) using the EVA formula?
- A. 500,000
- B. 840,000
- C. 8,000,000
- D. 9,700,000
Answer: D
NEW QUESTION 48
What best describes a benefit of business executive with regard to career development?
- A. Increased marketability, which will lead to qualification for opportunities outside of human resources
- B. A greater likelihood of promotion, especially when you are competing with individuals with more experience
- C. It is critical to your career development and a deficiency is very likely to hinder career advancement and success.
- D. The ability to display confidence and decisiveness that will inspire others and make you a better leader
Answer: D
NEW QUESTION 49
Which of the following is a type of variable pay?
- A. Hourly pay
- B. Bonuses
- C. Piece rate
- D. Pay for time not worked
Answer: B
NEW QUESTION 50
The Delta Company has experienced increased turnover in the past two years. Data from exit interviews indicate that most of those leaving did so for better opportunities and higher compensation. If Delta pays at the highest percentile of the market for their peer group, what data analysis should they do?
- A. Additional quantitative analysis to determine whether pay rates are truly competitive or existing data are unreliable
- B. Qualitative data collection to talk to key stakeholders and employees and determine whether the exit interviews accurately reflect their concerns
- C. No additional data analysis is needed. Delta should increase pay rates based on the existing data to decrease turnover.
- D. Qualitative data collection in the form of an employee survey with questions about employee satisfaction with pay levels
Answer: B
NEW QUESTION 51
What question is answered by the organization's mission statement?
- A. How will we achieve our objectives?
- B. How do we work?
- C. What direction will we take?
- D. Why are we in business?
Answer: D
NEW QUESTION 52
Which of the following best describes the guiding principles and/or beliefs shared by stakeholders in an organization?
- A. Mission
- B. Values
- C. Vision
- D. Strategy
Answer: B
NEW QUESTION 53
Who are you most likely to hear from if there are questions about an employee's compensation?
- A. The employee's department head
- B. The employee's manager
- C. The employee
- D. A concerned co-worker
Answer: B
NEW QUESTION 54
What best describes the most effective tactic for getting stakeholders' attention and buy-in?
- A. Talk to the individuals they report to in advance and gain their support so the stakeholders realize upper management already supports your position
- B. Ask them to review or provide feedback, especially on something you have done for them
- C. Schedule a meeting of all stakeholders and make a strong case that overcomes all of their objections
- D. Explain in precise terms to each stakeholder how your position is the most realistic approach to the issue or concern
Answer: B
NEW QUESTION 55
To ensure appropriate funding levels, the compensation professional must generally do which of the following?
- A. Possess a high level of education and competency in accounting principles
- B. Demonstrate broad understanding of principles of financial management and business expertise
- C. Partner with multiple departments and external consultants and vendors
- D. Determine which programs are crucial to the enterprise and which programs are expendable
Answer: B
NEW QUESTION 56
As a general rule, what are individual contributors most likely to ask about their compensation?
- A. What the take-home pay will be
- B. How their pay compares to co-workers
- C. How the company sets compensation budgets
- D. How the company makes pay decisions that affect them
Answer: D
NEW QUESTION 57
What most accurately describes a reason why organizations use financial reports?
- A. To promote consistency of communication regarding company performance and value
- B. To provide subjective information to key constituents that reflects the company's performance in the most favorable manner depending on stakeholder priorities
- C. To create a historical record of financial performance and identify trends that may justify changes in strategy
- D. To differentiate company financial data from industry competitors to prevent loss of proprietary information
Answer: A
NEW QUESTION 58
Regarding presentations to executives, which of the following is most accurate?
- A. Leave backup data out of the presentation so there is time to develop an effective response to unexpected questions
- B. Keep them brief
- C. Use multiple media
- D. Include all details related to the issue
Answer: B
NEW QUESTION 59
What best describes what forecasting helps the organization to do?
- A. Anticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle
- B. Recognize possible issues and concerns that will drive budget planning
- C. Withhold payroll taxes for all elements of compensation
- D. Prepare quarterly and annual reports and their associated statements
Answer: B
NEW QUESTION 60
What choices are most commonly faced by companies in the decline phase of the business lifecycle?
- A. Whether to acquire competitors with greater market share or merge with more successful companies
- B. Whether to reinvest in existing products, create new products or maximize profits with current products as long as possible
- C. Whether to improve productivity, obtain new operating capital or generate new sales growth
- D. Whether to increase sales, maximize distribution capacity or increase efficiency to meet growing demand
Answer: B
NEW QUESTION 61
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