Business Acumen for Compensation Professionals

Here you have the best WorldatWork C8 practice exam questions

Question 1 of 78

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

Financial Management

HR Management

Resource Management

Policy Management

Correct Answer: A

Question 2 of 78

`Cost-benefit thinking` is most useful in the context of financial management for purposes of what?

Procurement

Recruiting

Setting priorities

Plan administration

Correct Answer: C

Question 3 of 78

To ensure appropriate funding levels, the compensation professional must generally do which of the following?

Possess a high level of education and competency in accounting principles

Determine which programs are crucial to the enterprise and which programs are expendable

Partner with multiple departments and external consultants and vendors

Demonstrate broad understanding of principles of financial management and business expertise

Correct Answer: D

Question 4 of 78

Understanding basic organization design principles is an example of what key competency for compensation professionals?

Financial Management

HR Management

Resource Management

Policy Management

Correct Answer: B

Question 5 of 78

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

Compensation budgets only because staffing cannot exceed the funds available

A combination of organizational goals and budget realities

The consensus of HR management and line management estimates

The opinions of senior leaders in the organization

Correct Answer: B