Worldatwork CECP Exam Questions Instant Access

Question 1

What choices are most commonly faced by companies in the decline phase of the business lifecycle?

AWhether to improve productivity, obtain new operating capital or generate new sales growth

BWhether to reinvest in existing products, create new products or maximize profits with current products as long as possible

CWhether to acquire competitors with greater market share or merge with more successful companies

DWhether to increase sales, maximize distribution capacity or increase efficiency to meet growing demand

Answer : B

Question 2

What best describes a benefit of business executive with regard to career development?

AThe ability to display confidence and decisiveness that will inspire others and make you a better leader

BA greater likelihood of promotion, especially when you are competing with individuals with more experience

CIncreased marketability, which will lead to qualification for opportunities outside of human resources

DIt is critical to your career development and a deficiency is very likely to hinder career advancement and success.

Answer : A

Question 3

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

AOperational excellence

BProduct/service leadership

CCustomer intimacy

DBrand loyalty

Answer : B

Question 4

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

APossess a high level of education and competency in accounting principles

BDetermine which programs are crucial to the enterprise and which programs are expendable

CPartner with multiple departments and external consultants and vendors

DDemonstrate broad understanding of principles of financial management and business expertise

Answer : D

Question 5

In what stage of the business lifecycle do companies typically begin standardizing procedures through policy creation?

AStart-up

BGrowth

CMature

DDecline

Answer : B

Question 6

Administering budgets is an example of what key competency for compensation professionals?

AFinancial Management

BHR Management

CResource Management

DPolicy Management

Answer : A

Question 7

The XYZ Company focuses on maintaining/increasing market share and its products tend to be more evolutionary than revolutionary. What stage of the business lifecycle is XYZ most likely in?

AStart-up

BGrowth

CMature

DDecline

Answer : C

Worldatwork Certified Executive Compensation Professional CECP Exam Questions