PHR Certification Questions And Answers
Graded A+.
Accounts Payable - correct answer. Money an organization owes its vendors and
suppliers.
Accounts Receivable - correct answer. Money an organization's customers owe the
organization.
Action Plans - correct answer. Detailed steps a unit, department, or team will take in
order to achieve short-term objectives.
Amendment - correct answer. Modification or the Constitution or a law; modification
may be either formal (written) or informal (unwritten).
Assets - correct answer. Financial, physical, and sometiems intangible properties an
organization owns.
Balance Sheet - correct answer. Statement of a firm's financial position at a particular
time.
Balanced scorecard - correct answer. Measurement approach that provides an overall
picture of an organization's performance as measured against goals in finance,
customers, internal business processes, and learning and growth.
Bill - correct answer. Proposal presented to a legislative body for possible enactment
as a law.
,Break-even analysis - correct answer. Analysis that shows point in time at which total
revenue associated with a program is equal to the total cost of the program.
Business Case - correct answer. Description of an organizational challenge and
possible alternative solutions, arguing for specific solution.
Capacity - correct answer. To an operations department, the ability to yield output.
Cash flow statement - correct answer. Record of how much cash is flowing into and
out of an organization, including its sources or destinations.
Centralization - correct answer. Degree to which decision-making authority is
restricted to higher levels of management in an organization.
Code of ethics - correct answer. Principles of conduct within an organization that
guide decision making and behavior.
Consumer price index - correct answer. Measure of the average change over time in
the prices paid by consumers for goods and services.
Control - correct answer. To an operations department, an after-the-fact evaluation of
a company's ability to meet its own specifications and its customers' needs.
Correlation - correct answer. Measure that indicates the relationship between two
variables.
Cost-benefit analysis - correct answer. Ratio of value created to cost of creating that
value; allows management to determine the financial impact particular activities and
programs have on an organization's profitability.
Decentralization - correct answer. Degree to which decision-making authority is given
to lower levels in an organization's hierarchy.
Departmentalization - correct answer. Way an organization groups jobs to coordinate
work.
Divestiture - correct answer. Sale by a company of an asset that is not performing
well, that is not core to the company's business, or that is worth more as a separate
entity.
Divisional structure - correct answer. Organizational structure in which segments ae
separated by product, customer or market, or region.
Due diligence - correct answer. Process of conducting an intensive investigation of an
organization as one of the first steps in a pending merger or acquisition.
, Electronic Communications Privacy Act (ECPA) - correct answer. Act that makes it
unlawful to intercept messages in transmission, access stored information on electronic
communication services, or disclose this information.
Enterprise management - correct answer. Integrated processes and tools to allow
information sharing and process management across functions, sometimes even with
external partners, such as suppliers.
Environmental scanning - correct answer. Process that involves a systematic survey
and interpretation of relevant data to identify external opportunities and threats.
Equity - correct answer. Amount of owners' or shareholders' portion of a business.
Ethics - correct answer. System of moral principles and values that establish
appropriate conduct.
Extended organization - correct answer. Alliance between organizations to create
processes and information channels that allow communication and collaboration.
Financial ratios - correct answer. Calculations designed to describe an organization's
financial health and performance from various perspectives.
Foreign Corrupt Practices Act (FCPA) - correct answer. Prohibits American
companies from making corrupt payments to foreign officials for the purpose of
obtaining or keeping business.
Formula budgeting - correct answer. Form of budgeting in which an average cost is
applied to comparable expenses and general funding is changed by a specific amount.
Functional structure - correct answer. Organizational structure that defines
departments by what services they contribute to the organization's overall mission.
Gantt chart - correct answer. Project planning tool that graphically displays activities of
a project in sequential order and plots them against time.
Generation X - correct answer. Group of people born roughly between the years of
1965 - 1980
Generation Y - correct answer. Group of people born after 1980.
Gross domestic product (GDP) - correct answer. Estimate of the total value of goods
and services produced in a country in a given year.
Gross profit margin - correct answer. Ratio of gross profit to net sales.
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