WorldatWork Global Remuneration Professional (GRP) GR1 Questions & Answers

• Question 51:

  What best defines the organization's purpose or reason for existence?

  A. The corporate mission

  B. The business strategy

  C. The compensation strategy

  D. The corporate vision

  Correct Answer: A

• Question 52:

  Which of the following is the accurate statement about the business strategy?

  A. It usually is a secondary consideration in compensation design.

  B. It is the company's plan for competitive positioning of its products or services.

  C. It must be written after the company's operating plans are approved by senior management.

  D. It is developed for compensation, benefits and the work life effectiveness using the HR strategy as a basis.

  Correct Answer: B

• Question 53:

  Which of the following is an organization's statement about what it wants to become?

  A. Corporate vision

  B. Corporate mission

  C. Business strategy

  D. Human resources strategy

  Correct Answer: A

• Question 54:

  Why is it important TR professionals to understand economic conditions?

  A. They are internal influences that drive organizational culture.

  B. They provide a framework for designing rewards packages throughout an organization.

  C. They determine what programs may be legally applied in any given location.

  D. They require timely responses in adjusting programs to meet changing situations.

  Correct Answer: B

• Question 55:

  Which of the following phrases best describes behavioral engagement by employees?

  A. Values aligned with those of the organization

  B. Showing passion for work

  C. Feeling invested in corporate outcomes/results

  D. Performing at an optimal level.

  Correct Answer: D

• Question 56:

  Which of the following is the best definition of variable pay?

  A. Compensation that is given in the form of perquisites such as a company car, fitness membership, paid training, etc.

  B. Compensation that is nondiscretionary and does not vary according to performance or results

  C. Compensation that is contingent on discretion, performance or results

  D. Compensation that is determined by the organization's pay structure

  Correct Answer: C

• Question 57:

  Regarding medical plans, what is the out-of-pocket maximum?

  A. The most that the member will be liable for in relation to co-insurance

  B. The maximum the plan will pay if the member is covered by another insurance plan

  C. The limit the member will be required to pay at each doctor visit

  D. The lifetime limit for benefits to any one employee.

  Correct Answer: A

• Question 58:

  A company is sponsoring a diversity awareness fair for employees. Which category of work -life is the company trying to promote?

  A. Caring for dependents

  B. Culture change

  C. Corporate citizenship

  D. Internal sharing.

  Correct Answer: B

• Question 59:

  Step-rate increase programs provide employees the opportunity to receive two regular pay increases at which points?

  A. At established dates and then every six months thereafter

  B. On January 1 and July 1 of each year

  C. Once when they move a step, and again when the step value changes

  D. At the anniversary date and at the annual merit increase date

  Correct Answer: C

• Question 60:

  Which group typically has responsibility for final approval of the total rewards philosophy and strategy for the general employee population?

  A. External consultants

  B. Compensation committee

  C. Board of directors

  D. Senior management.

  Correct Answer: D