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CIMA E1 - Managing Finance in a Digital World

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Page: 7 / 10
Total 336 questions

Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science

Which of the following best describes the attributes of a data scientist?

A.

Individuals who act as an interface between the business functions and data specialists

B.

individuals with the ability to extract meaning from and interpret data from statistics and machine learning.

C.

Individuals who flag inefficiencies in the system and potentially suggest improvements and test solutions.

D.

Individuals who can affect or be affected by the organisations actions

Company P has had a recent IS/IT audit and weaknesses were highlighted within the privacy and security section of the report. Which TWO of the following would be classed as general controls of privacy and security?

A.

Hierarchy of access

B.

Time lock-out function

C.

Identification and authorisation checks

D.

Validity checks

E.

Completeness checks

One of the finance function's main stakeholders provides feedback on customer responses and reviews about the organisation's products and services. Which of the following will provide this feedback?

A.

Sales function

B.

Shareholders

C.

Production function

D.

Human Resources

Working in the finance function of a manufacturer of baked goods, T has been asked to support the monitoring of key performance indicators (KPIs) within the operations function of the company.

Which of the following would be a suitable KPI to help measure quality costs?

A.

Labour utilisation rate in the bakery.

B.

Amount of inventory damaged in warehouse storage

C.

Freight costs per bakery unit sold

D.

Time taken to deliver a customer order

Which of the following is a disadvantage of virtual operations?

A.

Flexibility and speed of operations

B.

Reduced investment in assets

C.

The suppliers/resources may also be available to rival operations

D.

Possible linkages in the value chain

Data profiling forms an essential element of the extraction transformation and loading process. Which of the following best describes data profiling?

A.

Storing data in a systematic and logical way ready for further interrogation.

B.

Data being processed into the destination database ready for use

C.

Examining the data to understand its content formats and structure.

D.

The process of harvesting data from source databases and locations

Which of the following statements best describes data extraction?

A.

The process of harvesting data from source databases and locations

B.

Examining the data to understand its content formats and structure.

C.

Data being processed into the destination database ready for use.

D.

Storing data in a systematic and logical way ready for further interrogation.

Which of the following is a disadvantage of outsourcing?

A.

Outsourcing can remove uncertainty about cost.

B.

It can save on costs by making use of a supplier's economies of scale.

C.

Access to specialist knowledge is made possible.

D.

Transaction costs will arise as a consequence of the outsourcing agreement.

Which of the following is the main reason for the growing demand for Big Data by organisations?

A.

Gaining a competitive advantage

B.

Allowing remote working

C.

Improving supplier relationships

D.

Improving privacy and security

Which of the following are examples of a parallel changeover?

Select ALL that apply.

A.

A toy manufacturer that has new assembly line staff working at the same time as the old staff before they move on to other roles.

B.

A factory that wants to change from a manual to an automated system keeps on some of its manual labour employees whilst implementing the automated system.

C.

A supermarket that updates all its checkouts while the store is closed.

D.

A multi-storey hotel store that redecorates each level one-by-one, rather than all in one go.

E.

A call centre that moves into its new office overnight, so that it is fully operational the next day.

F.

A car manufacturer that trials a new type of automation before replacing the old system with it.