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| Section | Weight | Objectives |
|---|---|---|
| Eligibility and Employee Data | 20% | - Employee history data import - Background elements configuration - Eligibility rules and criteria |
| Variable Pay Form and Workflow | 20% | - Rating integration and calibration - Approval workflow setup - Form template configuration |
| Variable Pay Program Foundation | 15% | - Program settings and configuration - Variable Pay overview and concepts - Bonus plan structure and components |
| Business Goals and Calculation | 25% | - Proration and custom formulas - Goal gates and cascading - Business goal setup and weighting - Bonus calculation methods |
| Reporting, Statements and Integration | 20% | - Integration with Employee Central and Performance Management - Reward statement generation - Standard and custom reports |
Question 1
Which budget types can you set up in variable pay?
There are 3 correct answers to this question.
Response:
A. Forecast Budget
B. Target budget
C. Modelling budget
D. Allocated budget
E. Results budget
Question 2
What is the first step to activate the auditing of variable pay data?4
Please choose the correct answer.
Response:
A. Enable the Audit setting in provisioning
B. Select the fields in the variable pay plan activity audit
C. Schedule the quartz job called Comp Entry Audit Process
D. Submit a CO ticket to Customer Success
Question 3
This feature allows administrator to restrict field visibility to certain roles.
Please choose the correct answer.
Response:
A. Read only function in Column Designer
B. Field restriction is not supported
C. Field grouping
D. Field-Based permission
Question 4
Which of the following statements provide a description of Guidelines?
There are 2 correct answers to this question.
Response:
A. Guidelines can use multiple criteria
B. Hard Limit set in guidelines can be overridden
C. Guidelines are used only for Individual and Team components of bonus calculation
D. Guidelines can be configured to be based on five custom fields
Question 5
Which file do you use to derive the bonus target amount for bonus calculation?
Please choose the correct answer.
Response:
A. Bonus Plans Import file
B. Business goals import file
C. User Data file
D. Employee History Data file
Solutions:
| Question 1 Answer: A,C,E | Question 2 Answer: D | Question 3 Answer: D | Question 4 Answer: A,C | Question 5 Answer: B |
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