Free Access WorldatWork.CECP.v2022-02-25.q35 Practice Test (Page 4)

Question 11

What is a "profit model?"

A.The intention or purpose of the business

B.The financial objectives of the organization

C.The plan for how the organization generates revenue and makes money

D.A descriptor for how the company works

Question 12

A fine jewelry chain distinguishes itself from the competition by focusing on carefully selected customers and building bonds to meet or exceed their needs and expectations. What strategy is this company using?

A.Product/service leadership

B.Operational excellence

C.Customer intimacy

D.Brand loyalty

Question 13

What is a primary objective of profit-sharing and performance-sharing variable pay plans?

A.To increase employee identification with the organization's success

B.To defer compensation expenses to future reporting periods

C.To reward individual employees for some significant contribution

D.To achieve organizational cost savings through base pay reductions

Question 14

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

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

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

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

D.The level of formal education in each area

Question 15

What happens to the marginal cost if revenue accelerates slower than variable costs but fixed costs remain the same?

A.It remains the same.

B.It increases at the same rate as variable costs.

C.It becomes increasingly higher as revenues increase.

D.It decreases because variable costs are increasing.

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Question 11

Question 12

Question 13

Question 14

Question 15

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