[Apr 03, 2022] Valid CECP Test Answers & WorldatWork CECP Exam PDF
Realistic CECP Exam Dumps with Accurate & Updated Questions
NEW QUESTION 21
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 22
Who are you most likely to hear from if there are questions about an employee's compensation?
- A. The employee's manager
- B. The employee's department head
- C. The employee
- D. A concerned co-worker
Answer: A
NEW QUESTION 23
What is the most accurate statement regarding the effect of compensation plans on the organization?
- A. Their success or failure is closely tied to the success or failure of organizationwide goals and objectives
- B. They affect the organization's overall financial status and impact multiple stakeholders across most, if not all, business units
- C. They have very little effect as long as they are managed effectively and efficiently
- D. They typically have the greatest effect on net income and operating results of any organizational expense or program
Answer: B
NEW QUESTION 24
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. Customer intimacy
- B. Brand loyalty
- C. Product/service leadership
- D. Operational excellence
Answer: A
NEW QUESTION 25
Which of the following is the earnings available to equity owners after paying debt and taxes?
- A. EBIT
- B. EPS
- C. Net income
- D. Operating profit
Answer: C
NEW QUESTION 26
As a general rule, what are individual contributors most likely to ask about their compensation?
- A. How the company makes pay decisions that affect them
- B. How the company sets compensation budgets
- C. How their pay compares to co-workers
- D. What the take-home pay will be
Answer: A
NEW QUESTION 27
"Cost-benefit thinking" is most useful in the context of financial management for purposes of what?
- A. Setting priorities
- B. Recruiting
- C. Procurement
- D. Plan administration
Answer: A
NEW QUESTION 28
What best describes a key competency of compensation professionals regarding HR management of the organization's employees?
- A. Ensuring they are appropriately selected, developed, appraised and rewarded
- B. Communicating regularly with line management on performance management
- C. Monitoring individual employee career paths and succession planning
- D. Ensuring that all regulatory and voluntary payroll deductions are properly administered
Answer: A
NEW QUESTION 29
Which of the following is the best example of a variable cost?
- A. Audit fees
- B. Rent
- C. Maintenance
- D. Shipping
Answer: D
NEW QUESTION 30
Step-rate increase programs provide employees the opportunity to receive two regular pay increases at which points?
- A. At established dates and then every six months thereafter
- B. On January 1 and July 1 of each year
- C. Once when they move a step, and again when the step value changes
- D. At the anniversary date and at the annual merit increase date
Answer: C
NEW QUESTION 31
Which of the following is the best definition of variable pay?
- A. Compensation that is contingent on discretion, performance or results
- B. Compensation that is given in the form of perquisites such as a company car, fitness membership, paid training, etc.
- C. Compensation that is nondiscretionary and does not vary according to performance or results
- D. Compensation that is determined by the organization's pay structure
Answer: A
NEW QUESTION 32
What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?
- A. Being firm and uncompromising in your decision-making
- B. Giving priority to perspectives based on the job or influence level of the stakeholders
- C. Representing your view with data and relating it to business results
- D. Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking
Answer: C
NEW QUESTION 33
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. Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
- B. Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
- C. Provide details on the plan design and measures and how they will be administered to employees at different levels
- D. Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have
Answer: B
NEW QUESTION 34
Regarding fixed and variable costs, what are Finance's primary concerns?
- A. Fixed costs and variable costs are equally important and both should be kept to a minimum.
- B. Variable costs often have a heavier focus than fixed costs, which applies to all areas, including compensation.
- C. Fixed costs must be kept to a minimum, but variable costs can fluctuate since they tend to correlate with revenue.
- D. Fixed costs are not a concern because they cannot be changed, so the focus is primarily on variable costs.
Answer: B
NEW QUESTION 35
Understanding basic organization design principles is an example of what key competency for compensation professionals?
- A. HR Management
- B. Resource Management
- C. Financial Management
- D. Policy Management
Answer: A
NEW QUESTION 36
What do working capital metrics evaluate?
- A. The change in working capital over a specific period of time, typically one year
- B. The amount of cash needed to meet the company's short-term obligations
- C. A company's mean capital expenditure per employee
- D. A company's efficiency in converting short-term capital into cash
Answer: D
NEW QUESTION 37
Which of the following is a type of variable pay?
- A. Salary
- B. Hourly rate
- C. Piece rate
- D. Commissions
Answer: D
NEW QUESTION 38
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