QUESTION: 37

Which of the following best describes the most likely perspectives of different groups in the organization that compensation professionals must be aware of?

Investors and Finance want to see money spent wisely. Legal must ensure compliance, and HR and operating departments want to see their needs taken into account to attract, retain and motivate a high quality workforce.
Operating departments and HR understand the company must live within its means and Finance cannot allocate funds to a budget if it is likely that profitability will be adversely affected.
Investors want to maximize gains and want to see compensation tightly controlled and Legal needs to ensure that compensation plans do not attract undue scrutiny.
Operating departments view compensation as it applies to them, HR must balance available resources to attract, retain and motivate employees and Finance knows the value of a motivated workforce and will provide the budget necessary to achieve it.

Answer(s): A

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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?

Operational excellence
Product/service leadership
Customer intimacy
Brand loyalty

Answer(s): C

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QUESTION: 39

What statement is most accurate regarding communication of compensation information?

Compensation professionals should anticipate the level of the audience and tailor messages to their needs.
Compensation terms and practices are unclear to most individuals who do not work in this area and communication should be tailored to the least informed member of the target audience.
The ready availability of information online has made it unnecessary for compensation professionals to tailor messages since individuals can research terms and concepts after the fact if they don’t understand a communication.
Compensation terms are well-known and easily understood by most stakeholders.

Answer(s): A

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QUESTION: 40

What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?

Being firm and uncompromising in your decision-making
Representing your view with data and relating it to business results
Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking
Giving priority to perspectives based on the job or influence level of the stakeholders

Answer(s): B

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QUESTION: 37

QUESTION: 38

QUESTION: 39

QUESTION: 40