SHRM CP FINAL EXAM STUDY QUESTIONS AND ANSWERS.
Career Planning - CORRECT ANSWER Actions & activities that individuals perform in order to give direction to their work lives.
Brain drain - CORRECT ANSWER Exit of educated & skilled citizens from emerging & developing countries for better p...
Career Planning - CORRECT ANSWER Actions & activities that individuals perform in order to give
direction to their work lives.
Brain drain - CORRECT ANSWER Exit of educated & skilled citizens from emerging & developing countries
for better paying jobs in developed countries.
Auditory learners - CORRECT ANSWER People who learn best by relying on their sense of hearing.
Andragogy - CORRECT ANSWER Study of how adults learn.
Cost-of-living adjustment (COLA) - CORRECT ANSWER Pay adjustment given to eligible employees
regardless of performance or organizational profitability; usually linked to inflation.
Compa-ratio - CORRECT ANSWER Pay rate divided by the midpoint of the pay range.
Broadbanding - CORRECT ANSWER Combining several salary grades or job classifications with narrow
pay ranges unto one brand with a wider salary spread.
Behavioral interview - CORRECT ANSWER Type of interview that focuses on how applicants previously
handled real situations.
Applicant tracking software (ATS) - CORRECT ANSWER Software that provides an automated way for
organizations to manage the recruiting process.
Developmental activities - CORRECT ANSWER Activities that focus on preparing employees for future
responsibilities while increasing their capacity to perform their current jobs.
,Compensation - CORRECT ANSWER All financial returns (beyond any benefits payments or services),
including salary and allowances.
Career development - CORRECT ANSWER 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 ANSWER 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 ANSWER Related to technical skills training; often a partnership between
employers and unions.
Competency-based interview - CORRECT ANSWER 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 ANSWER 5 step instructional design process that governs the development of
learning programs.
Assessment centers - CORRECT ANSWER Assessment tools that provide candidates a wide range of
leadership situations and problem-solving exercises.
Blended learning - CORRECT ANSWER Planned approach to learning that included a combination of
instructor-led training, self-directed study, and /or on-the-job training.
Career management - CORRECT ANSWER Preparing, implementing, and monitoring employees' career
paths, with a primary focus on the goals and needs of the organization.
Competencies - CORRECT ANSWER 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 ANSWER A plan of action for accomplishing an organization's long-range goals.
,SWOT analysis - CORRECT ANSWER Process for assessing an organization's strategic capabilities in
comparison to threats and opportunities identified during environmental scanning.
Value drivers - CORRECT ANSWER Actions, processes, or results that are needed to deliver a desired
value.
Vision statement - CORRECT ANSWER Vivid, guiding image of an organization's desired future, the future
it hopes to attain through its strategy.
Organizational values - CORRECT ANSWER Beliefs that are important to an organization and often
dictate employee behavior.
Strategic fit - CORRECT ANSWER 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 ANSWER The actions that leaders take to move their organizations
toward those goals and create value for all stakeholders.
Strategic planning - CORRECT ANSWER The process of setting goals and designing a path toward a
competitive position.
Metrics - CORRECT ANSWER Performance parameters based on the relationship between 2 or more
measures.
Mission statement - CORRECT ANSWER 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 ANSWER Ratio of net income (gross sales minus expenses and taxes) to net
sales.
Organizational culture - CORRECT ANSWER The basic beliefs and customs shared by members of an
organization that contribute to an organization's sense of its identity.
, Income statement - CORRECT ANSWER Statement that reports revenues, expenses, and net income
(profit) for a specified period.
Lagging indicator - CORRECT ANSWER Type of metric that describes an activity that has already
occurred.
Leading indicator - CORRECT ANSWER Type of metric that describes an activity that can change future
performance and indicate higher degree of success in achieving strategic goals.
Liabilities - CORRECT ANSWER Organization's debts and other financial obligations.
Due diligence - CORRECT ANSWER Necessary level of care and attention that is taken to investigate an
action before it is taken.
Environmental scanning - CORRECT ANSWER 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 ANSWER Amount of owners' or shareholders' portion of a business.
Gross profit margin - CORRECT ANSWER Ratio of gross profit to net sales.
Benchmarking - CORRECT ANSWER 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 ANSWER Strategies that generate competitive advantage by creating a
new marketplace arena in which there are no other competitors.
Business case - CORRECT ANSWER 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.
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