The XYZ Company produces innovative products and brings them to market in advance of their competitors. What strategy is XYZ using?

Answer(s): B

What best describes the most effective tactic for getting stakeholders’ attention and buy-in?

Ask them to review or provide feedback, especially on something you have done for them
Talk to the individuals they report to in advance and gain their support so the stakeholders realize upper management already supports your position
Schedule a meeting of all stakeholders and make a strong case that overcomes all of their objections
Explain in precise terms to each stakeholder how your position is the most realistic approach to the issue or concern

Answer(s): A

To ensure appropriate funding levels, the compensation professional must generally do which of the following?

Possess a high level of education and competency in accounting principles
Determine which programs are crucial to the enterprise and which programs are expendable
Partner with multiple departments and external consultants and vendors
Demonstrate broad understanding of principles of financial management and business expertise

Answer(s): D

What best describes the primary purpose of budgeting?

Limiting spending to a fixed percentage of organizational revenue
Making choices about spending based on expectations of performance
Increasing profitability of the business annually to maximize shareholder/owner value
Complying with local legislation and maintaining accurate records to prepare financial reports and tax documents

Answer(s): B

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