What type of pay increase is given when an organization finds that its compensation program is behind competitive market rates?

• A.Automatic
• B.Merit
• C.General
• D.Cost of living

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Which of the following best describes the most likely perspectives of different groups in the organization that compensation professionals must be aware of?

• A.Operating departments and HR understand the company must live within its means and Finance cannot allocate funds to a budget if it is likely that profitability will be adversely affected.
• B.Operating departments view compensation as it applies to them, HR must balance available resources to attract, retain and motivate employees and Finance knows the value of a motivated workforce and will provide the budget necessary to achieve it.
• C.Investors want to maximize gains and want to see compensation tightly controlled and Legal needs to ensure that compensation plans do not attract undue scrutiny.
• D.Investors and Finance want to see money spent wisely. Legal must ensure compliance, and HR and operating departments want to see their needs taken into account to attract, retain and motivate a high quality workforce.

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Which of the following best describes the guiding principles and/or beliefs shared by stakeholders in an organization?

• A.Vision
• B.Strategy
• C.Values
• D.Mission

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