1|Page
ICRM Part 1 Exam Questions & Answers, Well
Elaborated | Already Verified Test |100% Verified
solutions | 2025\2026 Latest!!
1. Believed work is as natural as play and rest; 2. Workers will
exercise self-direction and self control to obtain objectives they
are committed to; 3. Commitment to objectives is tied to the
rewards associated with their achievement; 4. Acceptance and
seeking of responsibility can be learned by workers under
proper conditions; 5. Capacity to exercise imagination, ingenuity,
and creativity towards solving organizational problems can be
found throughout a population, not just at the top; and 6. Under
the conditions of modern industrial life, the intellectual
potentialities of the average human are only being partially
utilized. - . . ANSWER ✓✓ Theory Y managers
1. Believed workers naturally disliked work and would avoid it if
possible, 2. Because of this characteristic, workers needed to be
controlled or threatened to get the work accomplished, 3. And
workers preferred to be directed because they don't want the
responsibility to make decisions; lacking ambition, they prefer
security above all. - . . ANSWER ✓✓ Theory X managers
1. Rational, legal authority (depends on position) 2. Traditional
authority (depends on legitimacy of person in command) 3.
Charismatic authority (depends on belief and trust of followers) -
. . ANSWER ✓✓ three types of authority
,2|Page
A bar graph with time on the horizontal axis and the resource to
be scheduled on the vertical axis. - . . ANSWER ✓✓ Gantt chart
A budget prepared using a previous period's budget or actual
performance as a basis with incremental amounts added for the
new budget period. Moreover, it encourages "spending up to the
budget" to ensure a reasonable allocation in the next period. It
leads to a "spend it or lose it" mentality. - . . ANSWER ✓✓
incremental budgeting
A common motivational technique used by organizations to give
an employee greater satisfaction in his work. It means giving an
employee additonal responsibilities previously reserved for his
manager or other higher-ranking positions. - . . ANSWER ✓✓ job
enrichment
A corporate expense that changes in proportion to production
output. They can increase or decrease depending on a company's
production volume; they rise as production increases and fall as
production decreases. Examples include the costs of raw
materials and packaging. - . . ANSWER ✓✓ variable costs
A cost that does not change with an increase or decrease in the
amount of goods or services produced or sold. They are
expenses that have to be paid by a company, independent of any
specific business activities. - . . ANSWER ✓✓ fixed costs
,3|Page
A declaration of an organization's objectives, intended to guide
its internal decision making. Serves as a foundation for a
broader strategic plan, motivates existing employees and
attracts potential employees by clearly categorizing the
company's goals and attracting like-minded individuals, focuses
company efforts and facilitates the creation of core
competencies by directing the company to only focus on
strategic opportunities that advance the company's vision, and
helps companies differentiate from competitors. - . . ANSWER
✓✓ vision statement
A diagram that visually conveys a company's internal structure
by detailing the roles, responsibilities and relationships between
individuals within an entity. - . . ANSWER ✓✓ organizational
chart
A document routinely employed in the field of project
management. It is the narrative description of a project's work
requirement. It defines project-specific activities, deliverables
and timelines for a vendor providing services to the client. - . .
ANSWER ✓✓ statement of work
A firm's intention, beyond its legal and economic obligation, to do
the right thing for society. - . . ANSWER ✓✓ social responsibility
, 4|Page
A leadership style characterized by individual control over all
decisions and little input from group members. Leaders typically
make choices based on their ideas and judgments and rarely
accept advice from followers. - . . ANSWER ✓✓ autocratic
leadership
A legal document that formally establishes a corporate entity.
Includes the corporation's name, the location of the head office,
the date of incorporation, the amount or type of stock to be
issued, and any restrictions on areas of business activity or
further share issuance. - . . ANSWER ✓✓ charter
A list of specific activities that must be performed to meet
minimum expected requirements. - . . ANSWER ✓✓ job
description
A professional feedback opportunity that enables a group of
coworkers and managers to provide feedback about a fellow
employee's performance. The feedback was traditionally solicited
by the manager to whom the employee reported. - . . ANSWER
✓✓ 360 reviews
A profitability measure that evaluates the performance of a
business by dividing net profit by net worth. Return on
investment is the most common profitability ratio. - . . ANSWER
✓✓ ROI
ICRM Part 1 Exam Questions & Answers, Well
Elaborated | Already Verified Test |100% Verified
solutions | 2025\2026 Latest!!
1. Believed work is as natural as play and rest; 2. Workers will
exercise self-direction and self control to obtain objectives they
are committed to; 3. Commitment to objectives is tied to the
rewards associated with their achievement; 4. Acceptance and
seeking of responsibility can be learned by workers under
proper conditions; 5. Capacity to exercise imagination, ingenuity,
and creativity towards solving organizational problems can be
found throughout a population, not just at the top; and 6. Under
the conditions of modern industrial life, the intellectual
potentialities of the average human are only being partially
utilized. - . . ANSWER ✓✓ Theory Y managers
1. Believed workers naturally disliked work and would avoid it if
possible, 2. Because of this characteristic, workers needed to be
controlled or threatened to get the work accomplished, 3. And
workers preferred to be directed because they don't want the
responsibility to make decisions; lacking ambition, they prefer
security above all. - . . ANSWER ✓✓ Theory X managers
1. Rational, legal authority (depends on position) 2. Traditional
authority (depends on legitimacy of person in command) 3.
Charismatic authority (depends on belief and trust of followers) -
. . ANSWER ✓✓ three types of authority
,2|Page
A bar graph with time on the horizontal axis and the resource to
be scheduled on the vertical axis. - . . ANSWER ✓✓ Gantt chart
A budget prepared using a previous period's budget or actual
performance as a basis with incremental amounts added for the
new budget period. Moreover, it encourages "spending up to the
budget" to ensure a reasonable allocation in the next period. It
leads to a "spend it or lose it" mentality. - . . ANSWER ✓✓
incremental budgeting
A common motivational technique used by organizations to give
an employee greater satisfaction in his work. It means giving an
employee additonal responsibilities previously reserved for his
manager or other higher-ranking positions. - . . ANSWER ✓✓ job
enrichment
A corporate expense that changes in proportion to production
output. They can increase or decrease depending on a company's
production volume; they rise as production increases and fall as
production decreases. Examples include the costs of raw
materials and packaging. - . . ANSWER ✓✓ variable costs
A cost that does not change with an increase or decrease in the
amount of goods or services produced or sold. They are
expenses that have to be paid by a company, independent of any
specific business activities. - . . ANSWER ✓✓ fixed costs
,3|Page
A declaration of an organization's objectives, intended to guide
its internal decision making. Serves as a foundation for a
broader strategic plan, motivates existing employees and
attracts potential employees by clearly categorizing the
company's goals and attracting like-minded individuals, focuses
company efforts and facilitates the creation of core
competencies by directing the company to only focus on
strategic opportunities that advance the company's vision, and
helps companies differentiate from competitors. - . . ANSWER
✓✓ vision statement
A diagram that visually conveys a company's internal structure
by detailing the roles, responsibilities and relationships between
individuals within an entity. - . . ANSWER ✓✓ organizational
chart
A document routinely employed in the field of project
management. It is the narrative description of a project's work
requirement. It defines project-specific activities, deliverables
and timelines for a vendor providing services to the client. - . .
ANSWER ✓✓ statement of work
A firm's intention, beyond its legal and economic obligation, to do
the right thing for society. - . . ANSWER ✓✓ social responsibility
, 4|Page
A leadership style characterized by individual control over all
decisions and little input from group members. Leaders typically
make choices based on their ideas and judgments and rarely
accept advice from followers. - . . ANSWER ✓✓ autocratic
leadership
A legal document that formally establishes a corporate entity.
Includes the corporation's name, the location of the head office,
the date of incorporation, the amount or type of stock to be
issued, and any restrictions on areas of business activity or
further share issuance. - . . ANSWER ✓✓ charter
A list of specific activities that must be performed to meet
minimum expected requirements. - . . ANSWER ✓✓ job
description
A professional feedback opportunity that enables a group of
coworkers and managers to provide feedback about a fellow
employee's performance. The feedback was traditionally solicited
by the manager to whom the employee reported. - . . ANSWER
✓✓ 360 reviews
A profitability measure that evaluates the performance of a
business by dividing net profit by net worth. Return on
investment is the most common profitability ratio. - . . ANSWER
✓✓ ROI
