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Certified Executive Compensation Professional Exam
Last Updated: Oct 3, 2024
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100 Questions and Answers for the Worldatwork CECP exam
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Worldatwork Certified Executive Compensation Professional Exam Syllabus
- Strategic Management of Executive Compensation: In this section, the focus is on the company's core purpose, future aspirations, and operational approach Ensure executive pay structures support overall business objectives. It covers crafting a comprehensive strategy for compensating top leadership Factor in company culture and leadership structure and be aware of both internal and external factors affecting executive pay, including shareholder perspectives Keep a pulse on current compensation trends in the industry.
- Design Executive Compensation Plans: This section deals with how to collect and evaluate relevant market information, how to gain in-depth knowledge of diverse pay elements (salary, annual bonuses, long-term incentives, stock options, additional benefits), make suggestions for each aspect of the compensation package Define clear metrics for assessing performance, and ensure plans comply with legal requirements and maintain internal fairness.
- Administer Executive Compensation Programs: This section of the exam covers how to oversee the implementation of all executive pay components (base salary, performance bonuses, incentive plans, benefits, additional perks), assist Board committees and supply them with necessary analytical resources, work in tandem with various internal teams (Finance, Accounting, Legal, Investor Relations), and how to convey compensation details to executives.
- Evaluate Executive Compensation Programs: In this section, the focus is given to how to employ quantitative methods to measure plan effectiveness Examine the outcomes of different compensation strategies, compile both numerical and descriptive data, and how to review plans against intended goals and industry standards.