CECP resources - WorldatWork Certified Executive Compensation Professional (CECP) Certification Updated: 2024
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WorldatWork Certification resources
Other WorldatWork exams
C8 Business Acumen for Compensation ProfessionalT7 International Financial Reporting Standards for Compensation Professionals
T1-GR1 Total Rewards Management Exam
CECP WorldatWork Certified Executive Compensation Professional (CECP) Certification
What is the most common term for the broad framework of principles and approaches that guide day-to-day decisions
affecting the business, including how it positions itself in the market?
A. The business plan
B. The corporate objective
C. The mission statement
D. The competitive strategy
Answer: D
Question: 24
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. Operational excellence
B. Product/service leadership
C. Customer intimacy
D. Brand loyalty
Answer: C
Question: 25
The XYZ Company produces innovative products and brings them to market in advance of their competitors.
What strategy is XYZ using?
A. Operational excellence
B. Product/service leadership
C. Customer intimacy
D. Brand loyalty
Answer: B
Question: 26
The Value Store retail company offers its customers low prices and ease of purchase by minimizing waste and
striving for high efficiency.
What strategy is the Value Store using?
A. Operational excellence
B. Product/service leadership
C. Customer intimacy
$13$10
D. Brand loyalty
Answer: A
Question: 27
Regarding market position, a business with a high market share but low growth potential is typically referred to as
what?
A. A Star
B. A Question Mark
C. A Market Leader
D. A Cash Cow
Answer: D
Question: 28
The Alpha Company was once a strong company that commanded a high percentage of the market it operated in. In
recent years, Alpha has been losing market share to competitors in its primary line of business and has been unable to
find a competitive strategy to grow and return to profitability.
Given its market position, how is Alpha most likely finding the monetary resources to continue operations?
A. By using cash from other segments of the business
B. By using its high credit rating from prior years to receive a line of credit until the strategy begins to work
C. By selling its products and services at a loss until revenue increases and slowly raising prices until it begins to
break even
D. By identifying and duplicating the strategy used by its main competitor.
Answer: A
Question: 29
What challenge is most likely faced by a business with low market share and high growth potential?
A. Its ability to generate profits is unknown.
B. It is in the worst market position and has insufficient resources to continue operations.
C. It is unclear how to best utilize the high cash flow to sustain growth.
D. Its excess resources are often used to develop other businesses that may not be mission-critical.
Answer: A
Question: 30
The XYZ Company focuses on maintaining/increasing market share and its products tend to be more evolutionary than
revolutionary.
What stage of the business lifecycle is XYZ most likely in?
A. Start-up
B. Growth
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C. Mature
D. Decline
Answer: C
Question: 31
An organization whose focus is on obtaining capital, marketing products or services, sales growth and cash
conservation is most likely to be in what stage of the business lifecycle?
A. Start-up
B. Growth
C. Mature
D. Decline
Answer: A
Question: 32
What choices are most commonly faced by companies in the decline phase of the business lifecycle?
A. Whether to Strengthen productivity, obtain new operating capital or generate new sales growth
B. Whether to reinvest in existing products, create new products or maximize profits with current products as long as
possible
C. Whether to acquire competitors with greater market share or merge with more successful companies
D. Whether to increase sales, maximize distribution capacity or increase efficiency to meet growing demand
Answer: B
Question: 33
In what stage of the business lifecycle do companies typically begin standardizing procedures through policy creation?
A. Start-up
B. Growth
C. Mature
D. Decline
Answer: B
Question: 34
What metric should compensation professionals pay closest attention to for ensuring alignment between the
compensation strategy and the HR and business strategies?
A. Variable pay costs as a percent of total compensation
B. Total compensation expense for the business, including base pay and variable pay
C. Reward costs as a percent of total operating costs
D. The organizations market comparatio
Answer: C
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Question: 35
If employees have a significant impact on the bottom line, what type of pay mix is most appropriate?
A. A varying mix depending on employee influence on goals to provide the necessary incentive to maximize profits
B. 100% variable pay to motivate all employees to maximize productivity and sales
C. 90/10 for the majority of employees (base/variable) to share in the companys success with increased variable pay
for management/executives to motivate employees to seek higher positions
D. High base pay and low variable pay to ensure predictability of total compensation expense
Answer: A
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Human resources professionals deal with recruitment, training and development, and benefits and compensations areas. HR professionals who specialize in employee compensation can advance in their fields by earning professional credentials. The Certified Compensation Professional certification is available through the WorldatWork Society of Certified Professionals, formerly the American Compensation Association.
Significance
-
Most HR specialists first earn a bachelor's degree; a degree and certification are desirable traits in prospective HR specialists. Employers show a preference for certified professionals because those with designations such as the CCP certification further demonstrate expertise in their selected field. Specifically, a CCP certification signifies that the owner has extensive knowledge and experience in designing compensation and incentive pay programs and that he can integrate compensation objectives with the overall business strategy.
Examinations
-
The WorldatWork Society of Certified Professionals bestows the CCP certification on professionals who pass a series of nine examinations. The examinations test professionals in key areas of compensation including development of reward systems and implementing and evaluating employee base salary and incentive programs. CCP candidates must be able to develop communication programs that ensure employees understand the company's compensation program. The exams also test the candidates' knowledge of federal laws that influence the design of these programs.
Educational Requirement
-
There is no formal educational requirement for CCP certification, and candidates with any education or experience level can take the exams. Candidates, however, must score at least 75 percent on the exams and must pass all nine exams within eight years of registration. The WorldatWork Society offers training courses in a variety of formats including webinars and computer-based self studies. The society also offers seminars at various locations throughout the U.S. Candidates are not required to be members of the WorldatWork Society, but members receive discounts on the cost of the preparation courses.
Recertification
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CCP certificates are good for three years, after which candidates recertify to maintain their status. Recertification involves obtaining 12 credits in related activities, which can include participation at a conference, membership in a WorldatWork Society or with a local network partner, and professional writing contributions to print publications. The WorldatWork Society maintains certification information for all certificate holders and updates this information with all certification activities. Certificate holders can submit the application for recertification at any time, and when they reach the 12-credit threshold, the association's recertification tool automatically submits the application within 30 days of the certificate's expiration date.
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LESSON 5: COMPENSATION AND BENEFITS
Understand all the things that must be considered when designing a compensation and benefits package.
LESSON 6: EMPLOYEE HEALTH AND SAFETY
Learn the ins and outs of complying with OSHA, protecting against workplace hazards, and investigating, recording, and preventing accidents and employee illnesses.
LESSON 7: THE LEGAL ENVIRONMENT
Gain knowledge of employment law as well as an understanding of equal employment opportunity, avoiding discrimination, and what happens when an employee files an EEOC claim.
LESSON 8: MAKING HR DECISIONS
Learn how to make decisions based on various company growth strategies and how to use HRIS Software as well as job analysis as a tool for decision-making.
LESSON 9: AFFIRMATIVE ACTION
Learn the full spectrum of affirmative action, how to create an affirmative action plan, and information on the AAP you will need to know.
LESSON 10: DIVERSITY
Understand what diversity is and why it is a good thing in an organization as you learn to manage it and handle conflict.
LESSON 11: EMPLOYEE RIGHTS AND DISCIPLINE
Learn the laws that protect employee rights and privacy and how to properly monitor and document behavior and discipline employees.
LESSON 12: TERMINATION
Understand the alternatives to firing as well as how to prepare for termination including proper separation agreements as well as what to do in the event of wrongful discharge.
LESSON 13: INVESTIGATIONS
Learn why it is so important to investigate problems as well as the steps of an effective investigation including preparing, conducting, and wrapping it up.
LESSON 14: MANAGING LABOR RELATIONS
Get a quick overview of the history of unions as you learn how they work and why employees join them.
LESSON 15: CREATING A HIGH-PERFORMANCE WORKPLACE
Learn how to ask employees for input and act on it, delegate authority, keep communication open, and continuously ask for feedback as you strive to develop a high-performance workplace.
LESSON 16: GLOBAL HUMAN RESOURCES
Understand the basics of staffing strategy, cultural differences, HR in other countries, choosing global employees, and issues faced by expatriates.
LESSON 17: RETENTION
Learn the top reasons employees leave a company and how you can encourage them to stay as well as the importance of succession planning.
LESSON 18: MOTIVATION, REWARDS, AND RECOGNITION
Find out fun ways to motivate workers and gain nine strategies for creating a great rewards program.
LESSON 19: PREPARING FOR THE PHR EXAM
Gain information on externships and internships as you review the basics of the PHR exam and begin to study.
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Did You Know?
$ 104,440- According to the 2016-17 Occupational Outlook Handbook from the U.S. Bureau of Labor Statistics (BLS), the median national annual salary for a human resources manager is $104,440.
9% Growth- Employment of human resources managers is projected to grow 9 percent from 2014 to 2024, faster than the average for all occupations.
2018 Leadership Excellence and Development Award
UNG PCE ranked 2nd nationally for “Certificate program with Emphasis on HR”
Register now for the SHRM Certificate Course!
WIOA Approved
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Graduate Certificate | Online | 2 Semesters to Complete
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Price:$399
Access Time:365 days
Estimated Length:21 hours
Credits:2.1 IACET CEUs / 6 PMI PDUs / 21 HRCI Credits / 19.5 SHRM PDCs
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