[App] SHRM-CP Offline Exam on All PC version 2025 - 1000 + Question
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SHRM-CP Certification Exam Questions 2023 - Business acumen Questions Part 1
1. What financial document lists the revenues, expenses, and profits of an organization for a designated period of time?
A) Income statement
B) Financial statement
C) Balance sheet
D) Accounting entries
2. An HR specialist prepares a business case to support an initiative. The case includes descriptions of the project's goals, benefits, method, budget, and time line. Which information is required to complete the business case?
A) Analysis of the initiative's possible risks
B) Endorsements from organization stakeholders
C) Communication plan the project team will use
D) Detailed description of the methodology that will be used
3. Which budgeting method is being used by a manager who begins with no allocated budget and must justify allocations based on how the function will contribute to the organization's strategic goals?
A) Zero-based budgeting
B) Formula-based budgeting
C) Incremental budgeting
D) Capital budgeting
4. What form of budgeting uses the prior year's budget as the basis for the next budget?
A) Activity-based budgeting
B) Incremental budgeting
C) Zero-based budgeting
D) Formula budgeting
5. How is Porter's 'Five Forces' framework used in developing strategies?
A) To identify internal strengths and weaknesses
B) To understand competitive factors that influence the strategy
C) To determine the cost-effectiveness of strategic initiatives
D) To assess the strength of various competitors
6. An organization has moved to larger facilities and doubled its workforce. However, it still experiences problems with back orders, which results in customer dissatisfaction. What phase of the organization/product life cycle is the organization probably in?
A) Decline
B) Introduction
C) Growth
D) Maturity
7. A company has reached a point of stability in its internal processes and ways of doing business. What stage of the life cycle characterizes this company?
A) Introduction
B) Decline
C) Growth
D) Maturity
8. What are the key components of a business intelligence system?
A) User interface, access to the Internet, integrated database
B) Accuracy, currency, and completeness
C) Input, processing, output
D) Data gathering, data warehousing, query and reporting
9. What are the key components of a business intelligence system?
A) User interface, access to the Internet, integrated database
B) Accuracy, currency, and completeness
C) Input, processing, output
D) Data gathering, data warehousing, query and reporting
10. What is the best description of an information system portal?
A) User's point of access to system data and applications
B) Organization's access to the Internet
C) Screen area in which data can be entered into the system
D) User-customized search engine
A) Income statement
B) Financial statement
C) Balance sheet
D) Accounting entries
2. An HR specialist prepares a business case to support an initiative. The case includes descriptions of the project's goals, benefits, method, budget, and time line. Which information is required to complete the business case?
A) Analysis of the initiative's possible risks
B) Endorsements from organization stakeholders
C) Communication plan the project team will use
D) Detailed description of the methodology that will be used
3. Which budgeting method is being used by a manager who begins with no allocated budget and must justify allocations based on how the function will contribute to the organization's strategic goals?
A) Zero-based budgeting
B) Formula-based budgeting
C) Incremental budgeting
D) Capital budgeting
4. What form of budgeting uses the prior year's budget as the basis for the next budget?
A) Activity-based budgeting
B) Incremental budgeting
C) Zero-based budgeting
D) Formula budgeting
5. How is Porter's 'Five Forces' framework used in developing strategies?
A) To identify internal strengths and weaknesses
B) To understand competitive factors that influence the strategy
C) To determine the cost-effectiveness of strategic initiatives
D) To assess the strength of various competitors
6. An organization has moved to larger facilities and doubled its workforce. However, it still experiences problems with back orders, which results in customer dissatisfaction. What phase of the organization/product life cycle is the organization probably in?
A) Decline
B) Introduction
C) Growth
D) Maturity
7. A company has reached a point of stability in its internal processes and ways of doing business. What stage of the life cycle characterizes this company?
A) Introduction
B) Decline
C) Growth
D) Maturity
8. What are the key components of a business intelligence system?
A) User interface, access to the Internet, integrated database
B) Accuracy, currency, and completeness
C) Input, processing, output
D) Data gathering, data warehousing, query and reporting
9. What are the key components of a business intelligence system?
A) User interface, access to the Internet, integrated database
B) Accuracy, currency, and completeness
C) Input, processing, output
D) Data gathering, data warehousing, query and reporting
10. What is the best description of an information system portal?
A) User's point of access to system data and applications
B) Organization's access to the Internet
C) Screen area in which data can be entered into the system
D) User-customized search engine
1. Right Answer: A
Explanation: The income statement shows revenues, expenses, and profits for the organization. The balance sheet shows its assets, liabilities, and shareholders' equity.
2. Right Answer: A
Explanation: The business case should include some discussion of possible risks and approaches to managing them. Detailed descriptions and plans are not appropriate for this audience. Endorsements are not usually part of a business case, but it would certainly be a good idea to encourage supporters to communicate to management their reasons for support.
3. Right Answer: A
Explanation: Zero-based budgeting requires all managers to start at zero. A department must justify its entire budget and show how its funding will help the organization to meet its goals. In zero-based budgeting, all operations are given a priority rating, each unit or goal is ranked, and funds are given in order of the ranking.
4. Right Answer: B
Explanation: Incremental or line-item budgeting uses the previous year's budget. The prior budget is simply increased by a set percentage. Additional funds are requested based on need and objectives.
5. Right Answer: B
Explanation: Porter's 'Five Forces' framework helps strategists understand the competitive forces at work in their industries so that they can assess the strengths and weaknesses of their own competitive position.
6. Right Answer: C
Explanation: The growth phase is characterized by change and expansion in terms of facilities, marketing, and people. These resources are needed to keep up with the demand for products or services. This phase is often accompanied by backlogs and scheduling problems while the organization adjusts to increased demands.
7. Right Answer: D
Explanation: As an industry, organization, or product matures, problems are largely resolved. In an organization, staffing and culture begin to stabilize, and the rate of change levels off. Policies, procedures, and rules are formalized and communicated to all employees. Training is emphasized, and labor cost control becomes a factor.
8. Right Answer: D
Explanation: A business intelligence system has three components: a means to gather information from various data collection points, a secure means of storing or warehousing data so that it is available to users, and the means to analyze the data via queries and reports.
9. Right Answer: D
Explanation: A business intelligence system has three components: a means to gather information from various data collection points, a secure means of storing or warehousing data so that it is available to users, and the means to analyze the data via queries and reports.
10. Right Answer: A
Explanation: An information system portal is the point of entry for a user into an information system. The system does not need to be web-hosted. It may provide access to the system's search engine, but it is not a search engine. It may be customized to users.
Explanation: The income statement shows revenues, expenses, and profits for the organization. The balance sheet shows its assets, liabilities, and shareholders' equity.
2. Right Answer: A
Explanation: The business case should include some discussion of possible risks and approaches to managing them. Detailed descriptions and plans are not appropriate for this audience. Endorsements are not usually part of a business case, but it would certainly be a good idea to encourage supporters to communicate to management their reasons for support.
3. Right Answer: A
Explanation: Zero-based budgeting requires all managers to start at zero. A department must justify its entire budget and show how its funding will help the organization to meet its goals. In zero-based budgeting, all operations are given a priority rating, each unit or goal is ranked, and funds are given in order of the ranking.
4. Right Answer: B
Explanation: Incremental or line-item budgeting uses the previous year's budget. The prior budget is simply increased by a set percentage. Additional funds are requested based on need and objectives.
5. Right Answer: B
Explanation: Porter's 'Five Forces' framework helps strategists understand the competitive forces at work in their industries so that they can assess the strengths and weaknesses of their own competitive position.
6. Right Answer: C
Explanation: The growth phase is characterized by change and expansion in terms of facilities, marketing, and people. These resources are needed to keep up with the demand for products or services. This phase is often accompanied by backlogs and scheduling problems while the organization adjusts to increased demands.
7. Right Answer: D
Explanation: As an industry, organization, or product matures, problems are largely resolved. In an organization, staffing and culture begin to stabilize, and the rate of change levels off. Policies, procedures, and rules are formalized and communicated to all employees. Training is emphasized, and labor cost control becomes a factor.
8. Right Answer: D
Explanation: A business intelligence system has three components: a means to gather information from various data collection points, a secure means of storing or warehousing data so that it is available to users, and the means to analyze the data via queries and reports.
9. Right Answer: D
Explanation: A business intelligence system has three components: a means to gather information from various data collection points, a secure means of storing or warehousing data so that it is available to users, and the means to analyze the data via queries and reports.
10. Right Answer: A
Explanation: An information system portal is the point of entry for a user into an information system. The system does not need to be web-hosted. It may provide access to the system's search engine, but it is not a search engine. It may be customized to users.
80% DISCOUNT: SHRM-CP PRACTICE EXAMS Questions with detailed explanation 2023 - UPDATED
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phrca hrci phr hr certified Human resource management Organizational behavior Talent acquisition Performance management Compensation and benefits Employee relations Training and development Diversity and inclusion Legal and ethical considerations HR metrics and analytics Strategic planning Change management HR technology Workforce planning Labor relations Employment law Recruitment and selection Career development0 Comments
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