2021 CECP Premium Files Test pdf - Free Dumps Collection
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NEW QUESTION 36
What best describes what forecasting helps the organization to do?
- A. Recognize possible issues and concerns that will drive budget planning
- B. Withhold payroll taxes for all elements of compensation
- C. Anticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle
- D. Prepare quarterly and annual reports and their associated statements
Answer: A
NEW QUESTION 37
Using efficient and cost-effective approaches to integrate technology into the workplace is most likely to do what?
- A. Select the best vendors
- B. Compensate employees competitively
- C. Reduce compensation expense
- D. Improve program efficacy
Answer: D
NEW QUESTION 38
Regarding fixed and variable costs, what tends to happen as revenue increases?
- A. Fixed costs decrease
- B. Variable 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
Answer: D
NEW QUESTION 39
Which of the following is the earnings available to equity owners after paying debt and taxes?
- A. EPS
- B. Net income
- C. EBIT
- D. Operating profit
Answer: B
NEW QUESTION 40
Which of the following is the most accurate statement about the business strategy?
- A. It is developed for compensation, benefits and the work-life using the HR strategy as a basis.
- B. It must be written after the company's operating plans are approved by senior management.
- C. It is the company's plan for competitive positioning of its products or services.
- D. It usually is a secondary consideration in compensation design.
Answer: C
NEW QUESTION 41
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. Operational excellence
- B. Brand loyalty
- C. Customer intimacy
- D. Product/service leadership
Answer: C
NEW QUESTION 42
What do working capital metrics evaluate?
- A. The amount of cash needed to meet the company's short-term obligations
- B. A company's mean capital expenditure per employee
- C. The change in working capital over a specific period of time, typically one year
- D. A company's efficiency in converting short-term capital into cash
Answer: D
NEW QUESTION 43
Who are you most likely to hear from if there are questions about an employee's compensation?
- A. The employee
- B. The employee's manager
- C. A concerned co-worker
- D. The employee's department head
Answer: B
NEW QUESTION 44
What type of equity incentive gives employees the right to purchase company shares at a specified price?
- A. Stock/share options
- B. Restricted stock/shares
- C. Performance units
- D. Stock/share grants
Answer: A
NEW QUESTION 45
Which of the following is a true statement regarding the talent development needs of employees?
- A. Opportunities for career advancement are important to employees in their decisions to either join or leave an organization.
- B. If employees believe their skills will fall behind their professional peers, they will be afraid to look for another job.
- C. Obtaining and developing skills provides leverage for the employee to seek more compensation.
Answer: A
NEW QUESTION 46
The Alpha Company was once a strong company that commanded a high percentage of the market it operated in. In recent years, Alpha has been losing market share to competitors in its primary line of business and has been unable to find a competitive strategy to grow and return to profitability. Given its market position, how is Alpha most likely finding the monetary resources to continue operations?
- A. By using its high credit rating from prior years to receive a line of credit until the strategy begins to work
- B. By using cash from other segments of the business
- C. By identifying and duplicating the strategy used by its main competitor.
- D. By selling its products and services at a loss until revenue increases and slowly raising prices until it begins to break even
Answer: B
NEW QUESTION 47
Which of the following are the two primary elements of benefits?
- A. Pay for time not worked and income protection programs
- B. Mental health coverage and health care coverage
- C. Defined contribution and defined benefits plans
- D. Unemployment and disability
Answer: A
NEW QUESTION 48
Why are lump-sum increases generally used?
- A. To control annual fixed costs from base pay adjustments
- B. To make up for benefits not provided by the organization
- C. To reward employees under short-term incentive plans
- D. To elevate employees who are below the midpoint in the range
Answer: A
NEW QUESTION 49
Regarding key competencies for financial management, HR management and resource management, what sets top performers apart?
- A. The level of formal education in each area
- B. The ability to tie them together, distill key messages and make impactful decisions
- C. Effective interpersonal and communication skills that can overshadow minor deficiencies in any one area
- D. The ability to prioritize which is most critical in any given situation and allocate time and resources accordingly
Answer: B
NEW QUESTION 50
What best describes a necessary skill and/or behavior in relation to business executive?
- A. A thorough understanding of the products and/or services your organization provides
- B. An understanding of the culture and subcultures of your organization
- C. The capacity to manage multiple projects and priorities and meet deadlines
- D. A willingness to take on additional duties and responsibilities when resources are limited
Answer: B
NEW QUESTION 51
Which of the following best describes the guiding principles and/or beliefs shared by stakeholders in an organization?
- A. Values
- B. Vision
- C. Mission
- D. Strategy
Answer: A
NEW QUESTION 52
Regarding market position, a business with a high market share but low growth potential is typically referred to as what?
- A. A Question Mark
- B. A Star
- C. A Market Leader
- D. A Cash Cow
Answer: D
NEW QUESTION 53
Which of the following is the best definition of variable pay?
- A. Compensation that is determined by the organization's pay structure
- B. Compensation that is contingent on discretion, performance or results
- C. Compensation that is nondiscretionary and does not vary according to performance or results
- D. Compensation that is given in the form of perquisites such as a company car, fitness membership, paid training, etc.
Answer: B
NEW QUESTION 54
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?
- A. April 8th
- B. March 31st
- C. April 5th
- D. March 1st
Answer: D
NEW QUESTION 55
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