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| Section | Weight | Objectives |
|---|---|---|
| Reporting, Statements and Integration | 20% | - Standard and custom reports - Reward statement generation - Integration with Employee Central and Performance Management |
| Variable Pay Program Foundation | 15% | - Program settings and configuration - Bonus plan structure and components - Variable Pay overview and concepts |
| Variable Pay Form and Workflow | 20% | - Approval workflow setup - Form template configuration - Rating integration and calibration |
| Eligibility and Employee Data | 20% | - Eligibility rules and criteria - Background elements configuration - Employee history data import |
| Business Goals and Calculation | 25% | - Goal gates and cascading - Bonus calculation methods - Proration and custom formulas - Business goal setup and weighting |
1. What does a point-in-time calculation mean?
Please choose the correct answer.
Response:
A) Target amount is based on a fixed date
B) Employee assignment will not be pro-rated
C) Target amount is based on effective date of each assignment
D) Goal payout will not be pro-rated
2. Which fields are required in the Employee history data file?
There are 3 correct answers to this question.
Response:
A) Basis
B) Salary
C) Bonus Target Percentage
D) Start Date
E) End Date
3. Besides "Choose Bonus Plan", what are the other options for calculating the bonus payout?
There are 2 correct answers to this question.
Response:
A) By employee
B) By manager
C) By PM form type
D) By department
4. Which budget types can you set up in variable pay?
There are 3 correct answers to this question.
Response:
A) Modelling budget
B) Results budget
C) Forecast Budget
D) Allocated budget
E) Target budget
5. In which file do you specify the relationship between bonus plan and business goals?
Please choose the correct answer.
Response:
A) Bonus Plan data file
B) Business goals data file
C) Business goal weights file
D) Business goal template
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A,D,E | Question # 3 Answer: A,B | Question # 4 Answer: A,B,C | Question # 5 Answer: C |
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