Worldatwork c8 Quiz 1 Topic 1 Questions 1-5

Question: 1

Understanding basic organization design principles is an example of what key competency for compensation professionals?

AFinancial Management

BHR Management

CResource Management

DPolicy Management

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Question: 2

What best describes what forecasting helps the organization to do?

ARecognize possible issues and concerns that will drive budget planning

BPrepare quarterly and annual reports and their associated statements

CWithhold payroll taxes for all elements of compensation

DAnticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle

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Question: 3

What best describes a necessary skill and/or behavior in relation to business acumen?

AAn understanding of the culture and subcultures of your organization

BThe capacity to manage multiple projects and priorities and meet deadlines

CA willingness to take on additional duties and responsibilities when resources are limited

DA thorough understanding of the products and/or services your organization provides

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Question: 4

Which financial statement or combination of statements provide(s) the most comprehensive view of the company's financial situation?

AThe balance sheet

BThe income statement

CThe cash flow statement and the income statement

DThe cash flow statement, along with the balance sheet and income statement

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Question: 5

What challenge is most likely faced by a business with low market share and high growth potential?

AIts ability to generate profits is unknown.

BIt is in the worst market position and has insufficient resources to continue operations.

CIt is unclear how to best utilize the high cash flow to sustain growth.

DIts excess resources are often used to develop other businesses that may not be mission-critical.

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Worldatwork c8 Quiz:1 Topic:1 Questions:1-5