CHRP Study Exam Human Resources Metrics, Reporting, and Financial
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Module
CHRP
Institution
CHRP
CHRP Study Exam Human Resources Metrics, Reporting, and Financial
Acquiescence Response Bias - ANSWERSrespondents to a survey have a tendency to agree with all the questions or to indicate a positive connotation.
Demand Characteristics Bias - ANSWERSparticipants alter their response or beha...
CHRP Study Exam Human Resources
Metrics, Reporting, and Financial
Acquiescence Response Bias - ANSWERSrespondents to a survey have a tendency to agree with all the
questions or to indicate a positive connotation.
Demand Characteristics Bias - ANSWERSparticipants alter their response or behaviour simply because
they are part of an experiment.
Extreme Responding Bias - ANSWERSdrives respondents to only select the most extreme options or
answers available.
Social Desirability Bias - ANSWERSinfluences a participant to deny undesirable traits and ascribe to traits
that are socially desirable.
Central Tendancy - ANSWERSa central or typical value for a probability distribution.
Mean/median/mode. Targeting the 50th percentile salary is a method to help prevent survey data from
being influenced by extreme outliers.
- 50th percentile: is generally the median. The 75th percentile is also called the 3rd quartile.
Weighted Mean Salary - ANSWERSinstead of each of the data points contributing equally to the final
average, some data points contribute more than others. To calculate the weighted average for a regular
pay rate, add the earning from each job together and then divide the amount by the total number of
hours, including any overtime, worked for all jobs.
Variable Expense - ANSWERSa corporate expense that varies with production output. Vary depending on
a company's production volume. (Ex. Gas, electric, water)
Fixed Expense - ANSWERSan expense that will be the same total amount regardless of the same total
amount regardless of changes in the amount of sales production, or other activity. (Ex. Rent)
, Cash Flow - ANSWERSthe total amount of money being transferred into and out of a business, especially
as affecting liquidity.
Asset - ANSWERSproperty owned by a person or company. Regarded as having value and available to
meet debts, commitments, or legacies.
Ways to limit confidentiality breaches in HRIS systems - ANSWERS-providing adequate training to staff
using HRIS
-requiring passwords or pins to staff using HRIS
-regularly monitoring the need for staff access to the HRIS and its support systems.
Control Chart - ANSWERSA graph used to study how a process changes over time. Data are plotted in
time order. A control chart always has a central line for the average, an upper line for the upper control
limit and lower line for the lower control limit. These lines are determined from historical data.
Cause and Effect Diagram - ANSWERS(fishbone diagram) identifies many possible causes for an effect or
problem. It can be used to structure a brainstorming session. It immediately sorts ideas into useful
categories.
Flow Chart - ANSWERSrepresents an algorithm, workflow or process, showing the steps as boxes of
various kinds, and their order by connecting them with arrows.
Incremental Budgeting - ANSWERSbudgeting based on slight changes from the preceding periods budget
results or actual results.
Calculation of Standard Cost Variances - ANSWERSstandard costs are usually associated with a
manufacturing company's costs of direct material, direct labour, and manufacturing overhead. Many
manufacturers will assign expected or standard costs rather than actual costs. The differences in the
standard and actual costs are the standard and actual costs are the standard cost variances.
Activity-Based Costing - ANSWERSa costing methodology that identifies activities in an organization and
assigns the cost of each activity with resources to all products and services according to the actual
consumption by each.
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