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SHRM CP EXAM With Complete Solutions Latest Update
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SHRM CP EXAM With Complete Solutions LatestUpdate
Career Planning - correct answers Actions & activities that individuals perform in order to give direction to their work
lives.
Brain drain - correct answers Exit of educated & skilled citizens from emerging & developing countries for better paying
jobs in developed countries.
Auditory learners - correct answers People who learn best by relying on their sense of hearing.
Andragogy - correct answers Study of how adults learn.
Cost-of-living adjustment (COLA) - correct answers Pay adjustment given to eligible employees regardless of
performance or organizational profitability; usually linked to inflation.
Compa-ratio - correct answers Pay rate divided by the midpoint of the pay range.
Broadbanding - correct answers Combining several salary grades or job classifications with narrow pay ranges unto one
brand with a wider salary spread.
Behavioral interview - correct answers Type of interview that focuses on how applicants previously handled real
situations.
Applicant tracking software (ATS) - correct answers Software that provides an automated way for organizations to
manage the recruiting process.
Developmental activities - correct answers Activities that focus on preparing employees for future responsibilities while
increasing their capacity to perform their current jobs.
,Compensation - correct answers All financial returns (beyond any benefits payments or services), including salary and
allowances.
Career development - correct answers Process by which employees progress through a series of stages in their careers,
each of which is characterized by relatively unique, themes, and tasks.
Benefits - correct answers Payments or services provided to employees to cover issues such as retirement, health care,
sick pay/disability schemes, life insurance, and paid time off.
Apprenticeship - correct answers Related to technical skills training; often a partnership between employers and unions.
Competency-based interview - correct answers Type of interview in which the interviewer asks questions related to
competencies for the position and asks candidates to provide examples of times they demonstrated the competencies.
ADDIE model - correct answers 5 step instructional design process that governs the development of learning programs.
Assessment centers - correct answers Assessment tools that provide candidates a wide range of leadership situations
and problem-solving exercises.
Blended learning - correct answers Planned approach to learning that included a combination of instructor-led training,
self-directed study, and /or on-the-job training.
Career management - correct answers Preparing, implementing, and monitoring employees' career paths, with a
primary focus on the goals and needs of the organization.
Competencies - correct answers Clusters of highly interrelated attributes, including knowledge, skills, or abilities (KSA)
that give rise to the behaviors needed to perform a given job effectively.
Strategy - correct answers A plan of action for accomplishing an organization's long-range goals.
SWOT analysis - correct answers Process for assessing an organization's strategic capabilities in comparison to threats
and opportunities identified during environmental scanning.
,Value drivers - correct answers Actions, processes, or results that are needed to deliver a desired value.
Vision statement - correct answers Vivid, guiding image of an organization's desired future, the future it hopes to attain
through its strategy.
Organizational values - correct answers Beliefs that are important to an organization and often dictate employee
behavior.
Strategic fit - correct answers A state in which an organization's strategy is consistent with its external opportunities and
circumstances and its internal structure, resources, and capabilities.
Strategic management - correct answers The actions that leaders take to move their organizations toward those goals
and create value for all stakeholders.
Strategic planning - correct answers The process of setting goals and designing a path toward a competitive position.
Metrics - correct answers Performance parameters based on the relationship between 2 or more measures.
Mission statement - correct answers Statement that specifies what activities an organization intends to pursue and what
course management has carted for the future; a concise statement of its strategy.
Net profit margin - correct answers Ratio of net income (gross sales minus expenses and taxes) to net sales.
Organizational culture - correct answers The basic beliefs and customs shared by members of an organization that
contribute to an organization's sense of its identity.
Income statement - correct answers Statement that reports revenues, expenses, and net income (profit) for a specified
period.
Lagging indicator - correct answers Type of metric that describes an activity that has already occurred.
, Leading indicator - correct answers Type of metric that describes an activity that can change future performance and
indicate higher degree of success in achieving strategic goals.
Liabilities - correct answers Organization's debts and other financial obligations.
Due diligence - correct answers Necessary level of care and attention that is taken to investigate an action before it is
taken.
Environmental scanning - correct answers Process that involves a systematic survey and interpretation of relevant data
to identify external opportunities and threats and to assess how these factors affect the organization currently and how
they are likely to affect the organization in the future.
Equity - correct answers Amount of owners' or shareholders' portion of a business.
Gross profit margin - correct answers Ratio of gross profit to net sales.
Benchmarking - correct answers Process that compares performance levels and/or processes of one entity with those of
another to identify performance gaps and set goals aimed at improving performance.
Blue ocean strategies - correct answers Strategies that generate competitive advantage by creating a new marketplace
arena in which there are no other competitors.
Business case - correct answers Presentation to management that establishes that a specific problem exists and argues
that the proposed solution is the best way to solve the problem in terms of time, cost efficiency, and probability of
success.
Cash flow statement - correct answers Statement the shows incoming and outgoing cash in the areas of operations,
investments, and financing and remaining cash reserves; reflects an organization's ability to meet its current and short-
term obligations.
Accounts payable - correct answers Money an organization owed its vendors and suppliers.
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