Questions for the C8 were updated on : Jul 20 ,2024
Page 1 out of 6. Viewing questions 1-15 out of 78
Question 1
Administering budgets is an example of what key competency for compensation professionals?
A. Financial Management
B. HR Management
C. Resource Management
D. Policy Management
Answer:
A
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Question 2
“Cost-benefit thinking” is most useful in the context of financial management for purposes of what?
A. Procurement
B. Recruiting
C. Setting priorities
D. Plan administration
Answer:
C
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Question 3
To ensure appropriate funding levels, the compensation professional must generally do which of the following?
A. Possess a high level of education and competency in accounting principles
B. Determine which programs are crucial to the enterprise and which programs are expendable
C. Partner with multiple departments and external consultants and vendors
D. Demonstrate broad understanding of principles of financial management and business expertise
Answer:
D
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Question 4
Understanding basic organization design principles is an example of what key competency for compensation professionals?
A. Financial Management
B. HR Management
C. Resource Management
D. Policy Management
Answer:
B
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Question 5
Assessment of current and future staffing needs should be based primarily on what?
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
Answer:
B
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Question 6
What best describes a key competency of compensation professionals regarding HR management of the organizations employees?
A. Ensuring they are appropriately selected, developed, appraised and rewarded
B. Monitoring individual employee career paths and succession planning
C. Communicating regularly with line management on performance management
D. Ensuring that all regulatory and voluntary payroll deductions are properly administered
Answer:
A
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Question 7
Using efficient and cost-effective approaches to integrate technology into the workplace is an example of what key competency for compensation professionals?
A. Financial Management
B. HR Management
C. Resource Management
D. Policy Management
Answer:
C
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Question 8
What best describes the most effective approach for facilitating fact-based decisions?
A. Ensuring support from all internal and external stakeholders
B. Estimating results based on historical data
C. Using statistical methods to predict outcomes
D. Determining, sourcing and collecting appropriate data
Answer:
D
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Question 9
Using efficient and cost-effective approaches to integrate technology into the workplace is most likely to do what?
A. Reduce compensation expense
B. Improve program efficacy
C. Select the best vendors
D. Compensate employees competitively
Answer:
B
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Question 10
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 prioritize which is most critical in any given situation and allocate time and resources accordingly
C. The ability to tie them together, distill key messages and make impactful decisions
D. Effective interpersonal and communication skills that can overshadow minor deficiencies in any one area
Answer:
C
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Question 11
What best describes a necessary skill and/or behavior in relation to business acumen?
A. An understanding of the culture and subcultures of your organization
B. The capacity to manage multiple projects and priorities and meet deadlines
C. A willingness to take on additional duties and responsibilities when resources are limited
D. A thorough understanding of the products and/or services your organization provides
Answer:
A
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Question 12
What is the most likely explanation for why compensation and rewards require a strong grasp of business acumen for compensation professionals?
A. Because the internal and external environments are constantly changing
B. Because the best interests of the organization take priority, which can lead to difficult decisions and implementation issues
C. Because they are emotional issues and stakeholders have many vested interests
D. Because strong business acumen is required for all compensation decisions
Answer:
C
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Question 13
What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?
A. Being firm and uncompromising in your decision-making
B. Representing your view with data and relating it to business results
C. Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking
D. Giving priority to perspectives based on the job or influence level of the stakeholders
Answer:
B
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Question 14
What is the primary reason why a compensation professional working for a multinational company should understand regulatory requirements and application of rewards globally?
A. Because legal compliance with compensation-related regulations is the responsibility of the compensation department
B. Because the compensation professional has a fiduciary responsibility to ensure that the financial resources of their organization are spent in a prudent manner
C. 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
D. They shouldnt. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.
Answer:
B
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Question 15
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?
A. Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
B. Provide details on the plan design and measures and how they will be administered to employees at different levels
C. Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
D. Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have