WorldatWork C1 Value Pack (Frequently Bought Together)

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WorldatWork C1 Exam Syllabus Topics:

WorldatWork Regulatory Environments for Compensation Programs Sample Questions:

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

A) Shipping
B) Audit fees
C) Maintenance
D) Rent

2. Which of the following are the two primary elements of benefits?

A) Pay for time not worked and income protection programs
B) Mental health coverage and health care coverage
C) Defined contribution and defined benefits plans
D) Unemployment and disability

3. A medical benefits plan provision ensuring that the correct plan is paying expenses when the member is covered under more than one plan is known as what?

A) Coordination of benefits
B) Deductible
C) Coinsurance
D) Out-of-pocket expenses

4. What is the term for the skills, technologies, applications and practices of continuous iterative exploration and investigation of past business performance used to gain insight and drive business planning?

A) Business forecasting
B) Statistical analysis
C) Business analytics
D) Predictive modeling

5. Your company has had a strong fiscal year with a 15% increase in net income over the prior fiscal year. Share prices are at an all time high. Working with Finance, you have arrived at a 2.5% merit increase budget for the next fiscal year, a smaller increase than the last fiscal year. Finance has indicated that some large capital expenditures will be needed next year, so the company needs to conserve resources. Additionally, Legal is in final negotiations on a lawsuit that may be very costly to the company. Word of the smaller increases has line management concerned that they will lose their best performers. Given all of these factors, what is your best course of action?

A) Meet with Finance and make a case for a larger merit increase budget because the loss of key talent will cost more over the long term than the savings from the smaller merit increases
B) Recommend a reduction in force to eliminate poor performers, which will increase the merit budget by reducing headcount
C) Implement the merit increase budget as is because the anticipated financial obligations have made it necessary
D) Gather the perspectives of all stakeholders, analyze their individual concerns and meet to determine whether a compromise solution is possible

Solutions: