PHR Certification Exam Questions
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1. Accounts Payable - ANS ✔Money an organization owes its
vendors and suppliers.
2. Accounts Receivable - ANS ✔Money an organization's
customers owe the organization.
3. Action Plans - ANS ✔Detailed steps a unit, department, or
team will take in order to achieve short-term objectives.
4. Amendment - ANS ✔Modification or the Constitution or a
law; modification may be either formal (written) or informal
(unwritten).
5. Assets - ANS ✔Financial, physical, and sometimes
intangible properties an organization owns.
6. Balance Sheet - ANS ✔Statement of a firm's financial
position at a particular time.
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7. Balanced scorecard - ANS ✔Measurement approach that
provides an overall picture of an organization's performance
as measured against goals in finance, customers, internal
business processes, and learning and growth.
8. Bill - ANS ✔Proposal presented to a legislative body for
possible enactment as a law.
9. Break-even analysis - ANS ✔Analysis that shows point in
time at which total revenue associated with a program is
equal to the total cost of the program.
10. Business Case - ANS ✔Description of an
organizational challenge and possible alternative solutions,
arguing for specific solution.
11. Capacity - ANS ✔To an operations department, the
ability to yield output.
12. Cash flow statement - ANS ✔Record of how much
cash is flowing into and out of an organization, including its
sources or destinations.
13. Centralization - ANS ✔Degree to which decision-
making authority is restricted to higher levels of
management in an organization.
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14. Code of ethics - ANS ✔Principles of conduct within an
organization that guide decision making and behaviour.
15. Consumer price index - ANS ✔Measure of the
average change over time in the prices paid by consumers
for goods and services.
16. Control - ANS ✔To an operations department, an
after-the-fact evaluation of a company's ability to meet its
own specifications and its customers' needs.
17. Correlation - ANS ✔Measure that indicates the
relationship between two variables.
18. Cost-benefit analysis - ANS ✔Ratio of value created
to cost of creating that value; allows management to
determine the financial impact particular activities and
programs have on an organization's profitability.
19. Decentralization - ANS ✔Degree to which decision-
making authority is given to lower levels in an organization's
hierarchy.
20. Departmentalization - ANS ✔Way an organization
groups jobs to coordinate work.
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21. Divestiture - ANS ✔Sale by a company of an asset that
is not performing well, that is not core to the company's
business, or that is worth more as a separate entity.
22. Divisional structure - ANS ✔Organizational structure
in which segments ae separated by product, customer or
market, or region.
23. Due diligence - ANS ✔Process of conducting an
intensive investigation of an organization as one of the first
steps in a pending merger or acquisition.
24. Electronic Communications Privacy Act (ECPA) -
ANS ✔Act that makes it unlawful to intercept messages in
transmission, access stored information on electronic
communication services, or disclose this information.
25. Enterprise management - ANS ✔Integrated
processes and tools to allow information sharing and
process management across functions, sometimes even with
external partners, such as suppliers.
26. Environmental scanning - ANS ✔Process that
involves a systematic survey and interpretation of relevant
data to identify external opportunities and threats.
27. Equity - ANS ✔Amount of owners' or shareholders'
portion of a business.
PHR Certification
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