Worldatwork CECP Exam Actual Questions

Name: Certified Executive Compensation Professional Exam
Brand: QA4Exam
SKU: CECP
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The questions for CECP were last updated on Oct 1, 2024.

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Question No. 1

What type of equity incentive gives employees the right to purchase company shares at a specified price?

AStock/share options

BStock/share grants

CRestricted stock/shares

DPerformance units

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Correct Answer: A

Question No. 2

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

AMental health coverage and health care coverage

BPay for time not worked and income protection programs

CUnemployment and disability

DDefined contribution and defined benefits plans

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Correct Answer: B

Question No. 3

How is the performance review related to pay?

AIt isn't. The performance review should not be related to pay decisions.

BIt is related to the extent that it affects variable pay awards. Base pay is based solely on tenure, prior experience and job skills.

CIt helps managers meet salary budgets by allowing them to adjust review results to align with available salary increase funds.

DIt provides managers a measure that can be used along with salary planning guidelines to determine appropriate rewards or consequences.

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Correct Answer: D

Question No. 4

Which type of variable pay is best described by this statement: Criteria are discretionary and often defined in broad terms such as ''exceptional customer service''?

ARecognition

BBonus

CCommission

DProfit-sharing

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Correct Answer: A

Question No. 5

Why are lump-sum increases generally used?

ATo control annual fixed costs from base pay adjustments

BTo elevate employees who are below the midpoint in the range

CTo reward employees under short-term incentive plans

DTo make up for benefits not provided by the organization

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Correct Answer: A

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