Certified Compensation Professional CCP C8 WorldatWork Study Notes

Business Acumen for Compensation Professional Questions and Answers

Question 5

Regarding key competencies for financial management, HR management and resource management, what sets top performers apart?

The level of formal education in each area

The ability to prioritize which is most critical in any given situation and allocate time and resources accordingly

The ability to tie them together, distill key messages and make impactful decisions

Effective interpersonal and communication skills that can overshadow minor deficiencies in any one area

Question 6

What information is found on the balance sheet?

A list of what is owned, what is owed and the equity of an entity

The revenues and expenses incurred by an entity over a period of time

The change during the reporting period in cash and cash equivalents

The profitability of the company as of a specific date

Question 7

Which of the following is the best example of a variable cost?

Audit fees

Rent

Maintenance

Shipping

Question 8

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

Operational excellence

Product/service leadership

Customer intimacy

Brand loyalty