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C8 Business Acumen for Compensation Professional Questions and Answers

Questions 4

The “Value Store” retail company offers its customers low prices and ease of purchase by minimizing waste and striving for high efficiency. What strategy is the “Value Store” using?

Options:

A.

Operational excellence

B.

Product/service leadership

C.

Customer intimacy

D.

Brand loyalty

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Questions 5

What best describes an effective core technique for communicating with executives?

Options:

A.

Focus on negative issues first, such as compensation costs exceeding budget, to get their attention

B.

Provide a wide range of facts and figures. With their high level of responsibility, executives must have all the data before they can make informed decisions.

C.

Assume they have little knowledge of the issue and make a detailed presentation leading up to the purpose of the meeting.

D.

Recommend a solution that will solve the issue and explain why it is the best solution available.

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Questions 6

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?

Options:

A.

By using cash from other segments of the business

B.

By using its high credit rating from prior years to receive a line of credit until the strategy begins to work

C.

By selling its products and services at a loss until revenue increases and slowly raising prices until it begins to break even

D.

By identifying and duplicating the strategy used by its main competitor.

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Questions 7

What is the term for the skills, technologies, applications and practices of continuous iterative exploration and investigation of past business performance used to gain insight and drive business planning?

Options:

A.

Business forecasting

B.

Business analytics

C.

Predictive modeling

D.

Statistical analysis

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Questions 8

What is the most accurate statement regarding forecasting?

Options:

A.

It is a precise estimate of what the future holds for the organization.

B.

It is done primarily by using historical revenue and expense data.

C.

It is done primarily by evaluating market conditions and economic indicators.

D.

It uses internal and external factors to help answer questions about business expectations for the future.

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Questions 9

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

Options:

A.

Compensation budgets only because staffing cannot exceed the funds available

B.

A combination of organizational goals and budget realities

C.

The consensus of HR management and line management estimates

D.

The opinions of senior leaders in the organization

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Questions 10

What choices are most commonly faced by companies in the decline phase of the business lifecycle?

Options:

A.

Whether to improve productivity, obtain new operating capital or generate new sales growth

B.

Whether to reinvest in existing products, create new products or maximize profits with current products as long as possible

C.

Whether to acquire competitors with greater market share or merge with more successful companies

D.

Whether to increase sales, maximize distribution capacity or increase efficiency to meet growing demand

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Questions 11

Regarding cost analysis of compensation expense, which job is most likely to incur fixed costs for the company?

Options:

A.

Production worker

B.

Account executive

C.

IT contractor

D.

HR Director

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Exam Code: C8
Exam Name: Business Acumen for Compensation Professional
Last Update: Nov 24, 2024
Questions: 78
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