aPHR Exam Questions with 100% Correct Answers | Verified | Updated 2024, Exams of Advanced Education

Download aPHR Exam Questions with 100% Correct Answers | Verified | Updated 2024 and more Exams Advanced Education in PDF only on Docsity! aPHR Exam Questions with 100% Correct Answers | Verified | Updated 2024 Accounts Payable - Correct Answer-Money the organization owes to vendors or suppliers Accounts Receivable - Correct Answer-Money customers owe the organization Amendment - Correct Answer-Formal revision of, addition to, or change in a bill or a constitution Balance Sheet - Correct Answer-Accounting report showing the financial position of an organization Balanced Scorecard - Correct Answer-A management tool that provides a concise picture of the overall organization in four quadrants: 1) financial; 2) customer perspective; 3) internal processes; and 4) learning and innovation pg. 1 professoraxel Benchmarking - Correct Answer-The process of comparing a firm's performance against the "best practices" of other leading companies Bill - Correct Answer-Draft of a proposed law presented for approval to a legislative body Centralized organizational structure - Correct Answer- Decisions made by upper management (corporate headquarters) Chain of command - Correct Answer-A system where authority passes down from the top through a series of management positions in which each is accountable to the one directly superior Change Theory (Kurt Lewin) - Correct Answer-Unfreeze, move and refreeze Computerized forecast - Correct Answer-Software package that allows projection of staff needs based on project sales, production volume and staff needed to maintain that level of production pg. 2 professoraxel Disposable income - Correct Answer-The amount of money consumers have available to spend after taxes have been paid Divisional organizational structure - Correct Answer- Organizational chart separated by product, market, group, region, etc. Dual chain of command - Correct Answer-Employees have more than one reporting relationship - as in a matrix structure Economic value added (EVA) - Correct Answer-Net operating profit after taxes minus (capital x cost of capital); a measure of the economic value of an investment or project Employee Engagement - Correct Answer-The extent to which an employee feels a sense of attachment to the organization and believes in tis goals and supports its values Ethics - Correct Answer-Determining right and wrong behavior based on a set of standards of conduct and moral judgement pg. 5 professoraxel Extranet - Correct Answer-A collaborative network that uses Internet technology to link businesses with their supplies, customers, or other businesses that share common goals Forecasting - Correct Answer-Estimating the likelihood of an event taking place in the future, based on available data from the past Formula Budgeting - Correct Answer-Overall cost applied to calculate increases in the next budget Functional organizational structure - Correct Answer- Organizational chart arranged by function/department (traditional) Gross Domestic Product (GDP) - Correct Answer-The value of the national goods and services produced excluding the value of net income earned abroad Gross Profit - Correct Answer-The difference between cost of goods sold and sales pg. 6 professoraxel HR Audit - Correct Answer-A formal evaluation of the current state of HR management in an organization HR Generalist - Correct Answer-An employee responsible for performing a variety of HR activities HR Research - Correct Answer-The analysis of HR records and past data to assess the effectiveness of HR practices HR Roles - Correct Answer-Historic: Advisory, service, and control Current: Administrative, operational, and strategic HR Specialist - Correct Answer-An employee with extensive knowledge and expertise in limited area of HR HR Strategies - Correct Answer-The actions taken to anticipate and manage the supply of and demand for labor Human Capital - Correct Answer-The knowledge, talents and skills of employees that have economic value to an organization pg. 7 professoraxel Line Manager - Correct Answer-A manager who directs subordinates and is responsible for accomplishing the company's goals Lobby - Correct Answer-A group of persons engaged in trying to influence legislators or other public officials in favor of a specific cause Major Goals - Correct Answer-End results that the business or organization wishes to achieve in support of its mission; usually long-term Management process - Correct Answer-Five basic functions of planning, organization, coordinating, directing, and controlling Matrix organizational structure - Correct Answer-Hybrid organizational structure in which individuals from different functional areas are assigned to work on a specific project or task Mission - Correct Answer-The basic purpose of the organization pg. 10 professoraxel Objectives - Correct Answer-Major initiatives that the business will take on to achieve each goal, usually short-term Opinion surveys - Correct Answer-Employees complete questionnaires to provide their feelings on the organization, management, and work life Organization chart - Correct Answer-A chart that depicts organization of work, titles, and interconnecting lines of who reports to whom Organizational Life-Cycle Stages - Correct Answer-Introduction (embryonic), growth, maturity, decline, shakeout Organizing - Correct Answer-Management responsibility for developing the structure for goal achievement Outsourcing - Correct Answer-Transferring or sharing management control and/or decision-making of a business function to an outside supplier Planning - Correct Answer-Management responsibility for studying, forecasting and goal setting pg. 11 professoraxel Primary research - Correct Answer-Research method in which data is collected first-hand for the specific project being conducted Product Differentiation Strategy - Correct Answer- Organization seeks to satisfy the consumer desire for unique products and services Productivity - Correct Answer-The amount of output per unit of input (labor, equipment, and capital). Quorum - Correct Answer-A minimal number of officers and members of a committee or an organization, usually a majority, who must be present for valid transaction of business Reengineering - Correct Answer-Redesigning a business to improve measures of performance such as cost, quality of service, and speed Regulation - Correct Answer-A principle, rule, or law designed to control or govern conduct pg. 12 professoraxel