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Business Acumen for Compensation Professional

Last Update Nov 24, 2024
Total Questions : 78

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Business Acumen for Compensation Professional Questions and Answers

Questions 1

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.

Questions 2

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

Questions 3

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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