Download Business Acumen for Compensation Professionals.C8.Prep4Sure.2017-08-31.50q.tqb
| Vendor: | WorldatWork |
| Exam Code: | C8 |
| Exam Name: | Business Acumen for Compensation Professionals |
| Date: | Aug 31, 2017 |
| File Size: | 169 KB |
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Demo Questions
Question 1
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.
Correct answer: B
Question 2
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?
- Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
- Provide details on the plan design and measures and how they will be administered to employees at different levels
- Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
- Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have
Correct answer: A
Explanation:
Question 3
What is the most accurate statement regarding the effect of compensation plans on the organization?
- They typically have the greatest effect on net income and operating results of any organizational expense or program
- Their success or failure is closely tied to the success or failure of organization wide goals and objectives
- They have very little effect as long as they are managed effectively and efficiently
- They affect the organization’s overall financial status and impact multiple stakeholders across most, if not all, business units
Correct answer: D
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