Hock 2020 Part 1

Section F - Technology and Analytics.

Answers
Information Systems 23
Data Governance 24
Technology-enabled Finance Transformation 16
Data Analytics 26
89

Information Systems
1. Question ID: HOCK CMA P1.F.1.b 05 (Topic: Information Systems)
Outputs of the purchasing and expenditures cycle in an accounting information system include all of
the following except:

 A. Discrepancy reports.
 B. Managing and controlling inventories.
 C. Cash requirements forecasts.
 D. Checks and/or payment advices.

2. Question ID: CIA 1194 3.38 (Topic: Information Systems)

An overall description of a database, including the names of data elements, their characteristics, and
their relationship to each other would be defined by using a

 A. Data command interpreter language.

 B. Data definition language.
 C. Data manipulation language.
 D. Data control language.

3. Question ID: CIA 593 III.57 (Topic: Information Systems)

Which of the following is the elementary unit of data storage used to represent individual attributes of
an entity?

 A. Data field.
 B. File.
 C. Database.
 D. Record.

4. Question ID: HOCK CMA P1.F.1.b 04 (Topic: Information Systems)

Which of the following statements about the revenue to cash cycle in accounting information
systems is not true?

 A. The sale of a product should automatically adjust the inventory levels.

 B. The sale of a product should automatically increase the next raw materials order.
 C. Inputs to the revenue cycle can be made on a computer, tablet, or over the Internet.
 D. The system should automatically invoice customers when products are shipped.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
5. Question ID: HOCK CMA P1.F.1.b 07 (Topic: Information Systems)
Which of the following statements about the human resources and payroll cycle in an accounting
information system is true?

 A. Payroll is not usually outsourced to a third party.

 B. Timecards may be created or entered electronically.
 C. The payroll journal entries should be manually entered by an accountant.
 D. Tax withholding forms should not be entered into the system because they contain sensitive
information.

6. Question ID: CIA 596 III.51 (Topic: Information Systems)

To properly control access to accounting database files, the database administrator should ensure
that database system features are in place to permit

 A. Updating from privileged utilities.

 B. Access only to authorized logical views.
 C. User updates of their access profiles.
 D. Read-only access to the database files.

7. Question ID: HOCK CMA P1.F.1.d 02 (Topic: Information Systems)

Smart Backpacks, Inc. specializes in making backpacks that cater to tech-savvy individuals with
features like built-in batteries and GPS trackers. While 80% of the sales are for standard backpacks,
the company also offers customizable backpacks. Because building a custom backpack can take up
to a week, the customer is not charged until their backpack ships.
In the past year, the company has experienced tremendous growth, with sales tripling over the
previous year. The company has experienced a variety of growing pains leading to some customer
satisfaction issues. However, the management accountant has suggested that an Enterprise
Resource Planning (ERP) system might help, and could solve all of the following issues except:

 A. Delays in production due to shortages of raw materials.

 B. Customers being charged the incorrect price when their custom backpack ships.
 C. Longer production times due to the number of customizable backpack options.
 D. Sales staff not being able to tell customers if their desired backpack is currently in stock.

8. Question ID: HOCK CMA P1.F.1.b 03 (Topic: Information Systems)

Which of the following statements about the output of an accounting information system
is not correct?

 A. Reports should follow the same format every time that they are run.
 B. Reports can be provided electronically or in hard copy.
 C. The reports from the system are used by internal and external decision-makers.
 D. Reports should include a date or date range.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
9. Question ID: ICMA 08.P2.202 (Topic: Information Systems)
A data warehouse can be described as a

 A. Centralized and integrated database of current and historical data about an organization.
 B. Database that is available on the Internet or provided by commercial information services.
 C. Database that supports a particular functional area in an organization.
 D. Collection of databases that are dispersed to corporate intranets, extranets, and the Internet.

10. Question ID: ICMA 08.P2.185 (Topic: Information Systems)

Which one of the following is the most frequently used standard language for interacting with
relational databases?

 A. Groupware
 B. COBOL
 C. Visual Basic
 D. Structured Query Language (SQL)

11. Question ID: HOCK CMA P1.F.1.b 06 (Topic: Information Systems)

Bar codes, RFID tags, and GPS are technologies that are used most predominantly in which
transaction cycle?

 A. The revenue to cash cycle

 B. The purchasing and expenditure cycle
 C. The financing cycle
 D. The production cycle

12. Question ID: HOCK CMA P1.F.1.b 09 (Topic: Information Systems)

Which of the following is not an output of a fixed asset management system?

 A. Repair and maintenance reports

 B. Fixed asset change forms
 C. A depreciation register
 D. A report of each asset's location

13. Question ID: CIA 594 III.17 (Topic: Information Systems)

A database table requires a primary key for each record. Which of the following is a primary key?

 A. The vendor number in an accounts payable master file.

 B. The vendor number in a closed purchase order transaction file.
 C. All of the answers given.
 D. The vendor number in an open purchase order master file.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
14. Question ID: HOCK CMA P1.F.1.i 01 (Topic: Information Systems)
Which of the following best describes Enterprise Performance Management (EPM) software?

 A. EPM software operates independently of other accounting systems.

 B. EPM makes recommendations using artificial intelligence.
 C. EPM improves operational efficiency.
 D. EPM monitors organizational performance.

15. Question ID: HOCK CMA P1.F.1.d 01 (Topic: Information Systems)

Which of the following is not a disadvantage of implementing an ERP system?

 A. Employees will need to be trained on the new ERP system.

 B. Data has to be entered multiple times into each module of the ERP system.
 C. A poorly-implemented ERP system can result in significant disruptions and financial losses.
 D. Business re-engineering is usually required to implement an ERP system.

16. Question ID: CISA, adapted H2 (Topic: Information Systems)

Which of the following is a false statement about a database management system application
environment?

 A. Data is used concurrently by multiple users.

 B. Data definition is independent of any one program.
 C. Data is shared by passing files between programs or systems.
 D. The physical structure of the data is independent of user needs.

17. Question ID: HOCK CMA P1.F.1.g 01 (Topic: Information Systems)

Which of the following best describes the difference between a data warehouse and a data mart?

 A. A data mart contains only a subsection of the data in a data warehouse.

 B. Data marts always get their data from a data warehouse.
 C. A data mart is accessible enterprise-wide, while a data warehouse would only be accessed by
one department.
 D. A data mart contains confidential data that would not be stored in a data warehouse.

18. Question ID: HOCK CMA P1.F.1.b 02 (Topic: Information Systems)

After a system upgrade, there is some concern about whether or not recent sales were recorded
accurately with the correct quantities and dollar amounts. One of the staff accountants has received
all of the cash register receipts from the sales floor and isn't sure where to look in the accounting
information system to verify that the receipts match the data in the system. The accountant should
look in the:

 A. Master files
 B. Chart of accounts
 C. Transaction files
 D. Accounting information system database
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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
19. Question ID: CIA 592 III.32 (Topic: Information Systems)
An inventory clerk, using a computer, views the following on screen: part number, part description,
quantity on-hand, quantity on-order, order quantity, and reorder point for a particular inventory item.
Collectively, these data make up a

 A. Field.
 B. Record.
 C. Database.
 D. File.

20. Question ID: ICMA 19.1F1b.01 (Topic: Information Systems)

A primary advantage of an ERP system is

 A. centralization of data.
 B. separate data updating for different functions.
 C. program-data dependence.
 D. data redundancy.

21. Question ID: ICMA 19.1F1a.01 (Topic: Information Systems)

A database management system can best be defined as a(n)

 A. Conceptual level schema that maps the relationships between all data elements.
 B. Program that manages a set of interrelated, centrally coordinated data files.
 C. Very large database that is used for analysis and not transactional processing.
 D. Management system that controls disconnected master files.

22. Question ID: HOCK CMA P1.F.1.b 08 (Topic: Information Systems)

Which of the following is not an input to the financing cycle in an accounting information system?

 A. Bank statements
 B. Interest rate forecasts
 C. Cash budgets
 D. Paper checks

23. Question ID: HOCK CMA P1.F.1.b 01 (Topic: Information Systems)

In an accounting information system, where is information such as ledger account numbers,
customer account numbers, and customer histories stored?

 A. Transaction files
 B. Chart of accounts
 C. Master files
 D. General ledger

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers

Data Governance
24. Question ID: HOCK IT-Phys 04 (Topic: Data Governance)
A company uses magnetic cards to provide access to the room housing the data servers. Which of
the following represents a weakness in using a card access system?

 A. Magnetic cards require possession to use them.

 B. Magnetic cards do not allow keeping an access log.
 C. The process of using magnetic cards is complicated and easily misunderstood.
 D. The card may be easily copied.

25. Question ID: CIA 596 3.60 (Topic: Data Governance)

Appropriate elements of a policy on email usage would include all of the following except:

 A. Encrypting email messages.

 B. Directing that personnel do not send highly sensitive or confidential messages using email.
 C. Requiring users to change their password on a regular basis.
 D. Erasing all employee's email immediately upon employment termination.

26. Question ID: HOCK IT-Cyber 02 (Topic: Data Governance)

During an audit of logins to computers on the plant floor, the auditor notices that one of the
employee's accounts is being used to access a computer remotely via the Internet during work
hours, when the employee is at work. There are no unsuccessful login attempts using an incorrect
password in the computer's log. The auditor asks the employee if they gave their password to
anyone, and the employee says, "No, of course not, only to the IT department when they called and
said they needed to check something on my account. I would never give my password out over
email!"
Based on this answer, the employee's password was most likely obtained through

 A. Phishing.
 B. Brute Force Attack.
 C. Dumpster diving.
 D. Social Engineering.

27. Question ID: HOCK IT-Auth 01 (Topic: Data Governance)

Which of the following authentication patterns describes a two-factor authentication scheme?

 A. A hand scan followed by a voice verification.

 B. Requiring the user to enter their password and date of birth.
 C. A combination of a magnetic card and a numeric code sent on a text message.
 D. A voice verification and a numeric code sent on a text message.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
28. Question ID: HOCK CMA P1.F.2.d 02 (Topic: Data Governance)
The management accountant at Wolfe's Widgets is working on creating a records management
policy after one of the database servers crashed and the IT staff discovered that most of the
backups were also corrupted. In the end, Wolfe's Widgets lost over three years of personnel and tax
records. Which of the following would likely not be included in Wolfe's Widgets' new records
management policy?

 A. Creation of an index for the location of all of the company's records.

 B. A comprehensive list of what records need to be maintained.
 C. The statute of limitations for how long records legally must be maintained.
 D. A strategy for preserving all records indefinitely.

29. Question ID: CIA 597 III.46 (Topic: Data Governance)

Which of the following would not be appropriate to consider in the physical design of a data center?

 A. Evaluation of potential risks from railroad lines and highways.

 B. Design of authorization tables for operating system access.
 C. Inclusion of an uninterruptible power supply system and surge protection.
 D. Use of biometric access systems.

30. Question ID: CIA 596 3.48 (Topic: Data Governance)

A company with several hundred stores has a network for the stores to transmit sales data to
headquarters. The network is also used for:

 Vendors to submit reorders.

 Stores to transmit special orders to headquarters.
 Regional distribution centers to communicate delivery and out-of-stock information to the
stores.
 The national office to distribute training materials.
 Store, regional, and national personnel to share any information they think helpful.
In order to accommodate the large volume of transmissions, large stores have their own satellite
receiving/transmitting stations. Small stores use the Internet.
The information systems director is concerned that someone might be able to enter fictitious orders
from store computers. Of the following, the best control for minimizing the likelihood of such an
occurrence is to:

 A. Require change control procedures for programs.

 B. Encourage employees to report suspicious activity.
 C. Enforce strong password control procedures for users.
 D. Encrypt outbound transmissions from the stores.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
31. Question ID: HOCK CMA P1.F.2.d 01 (Topic: Data Governance)
Which of the following is not considered a "record" in relation to records management?

 A. Recent tax legislation affecting the company's current fiscal year.

 B. Monthly bank statements mailed to the company headquarters.
 C. Employees' electronic timecards.
 D. Customer information in the company's CRM system.

32. Question ID: HOCK IT-Phys 01 (Topic: Data Governance)

Which of the following is not an example of a physical characteristics that can be used for biometric
system access?

 A. Spoken passphrase
 B. Security question
 C. Fingerprint
 D. Retina scan

33. Question ID: HOCK CMA P1D3 04 (Topic: Data Governance)

Which of the following is a technical computer crime that requires sophisticated knowledge of
computers and/or networks?

 A. Social engineering.
 B. Phishing.
 C. Denial of service attack.
 D. Dumpster diving.

34. Question ID: HOCK CMA P1.F.2.b 01 (Topic: Data Governance)

Which of the following is not one of the five interrelated components of the internal control system
according to COSO?

 A. Monitoring
 B. Risk assessment
 C. Information and communication
 D. Culture, ethics, and behavior

35. Question ID: HOCK CMA P1.F.2.a 02 (Topic: Data Governance)

Which of the following statements best describes data governance? Data governance:

 A. Is a process for choosing database systems.

 B. Is quality control for data.
 C. Is the same as corporate governance.
 D. Provides for reliable reporting of financial information.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
36. Question ID: HOCK CMA P1.F.2.c 01 (Topic: Data Governance)
Which of the following statements most accurately describes how data flows through the data life
cycle?

 A. Data flows through each stage of the life cycle in a specific order.
 B. Data flows through some stages of the life cycle multiple times.
 C. Data flows through each stage of the life cycle at least once.
 D. Data flows through each stage of the life cycle exactly once.

37. Question ID: HOCK IT-Phys 02 (Topic: Data Governance)

Which of the following is a physical security control?

 A. Proxy server
 B. Limiting access of certain functions to specific computers on the network.
 C. Encryption
 D. Requiring two-factor authentication for all devices.

38. Question ID: ICMA 19.1F2a.01 (Topic: Data Governance)

Which one of the following best defines COBIT?

 A. A framework for the governance and management of enterprise information and technology.
 B. A set of risks and responses to technology challenges.
 C. A control framework published by the Committee of Sponsoring Organizations.
 D. A set of guidelines intended to help shareholders understand the IT systems utilized by
management.

39. Question ID: HOCK CMA P1.F.2.a 01 (Topic: Data Governance)

Which of the following would not fall under the umbrella of data governance?

 A. Maximizing the availability of data and data systems.

 B. Interviewing and hiring practices for IT staff that oversee data systems.
 C. Data integration (the combining of data from different sources).
 D. Compliance with regulations regarding data and privacy.

40. Question ID: HOCK CMA P1.F.2.c 02 (Topic: Data Governance)

Which of the following is not one of the stages of the data life cycle?

 A. Data synthesis
 B. Data maintenance
 C. Data monitoring
 D. Data purging

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
41. Question ID: HOCK IT-Auth 02 (Topic: Data Governance)
Which of the following passwords would be considered the strongest?

 A. dGdvgPiDbJanmhVuzNFlbbrXdWrIk
 B. mnbvcxzlkjhgfdsapoiuytrewq0987654321
 C. twinkletwinklelittlestarhowiwonderwhatyouare
 D. Xn2y2R2T{I;nGb4K^J

42. Question ID: CIA 598 3.50 (Topic: Data Governance)

Which control, when implemented, would best assist in meeting the control objective that a system
have the capability to hold users accountable for functions performed?

 A. Transaction error logging.

 B. Redundant hardware.
 C. Programmed cutoff.
 D. Activity logging.

43. Question ID: HOCK CMA P1D3 07 (Topic: Data Governance)

Which of the following is not an example of a physical access control?

 A. Having the computer center be protected from natural disasters as much as possible.
 B. Shredding confidential documents when they are no longer needed.
 C. Requiring scanning of magnetic ID cards to enter the computer center, with all access being
logged automatically.
 D. Having access to the computer center be controlled by a security guard who can open the locked
doors only by "buzzing in" authorized personnel.

44. Question ID: ICMA 19.1F2c.01 (Topic: Data Governance)

After a systems programmer was terminated and passwords were disabled, the company’s server
crashed and it erased all of its files and software. The terminated employee had installed a virus in
the operating system and executed it via a back door. Which one of the following measures
would most likely have prevented this occurrence?

 A. Daily backup of all data on the server.

 B. An intrusion detection system used to create logs of network traffic.
 C. A policy to encrypt all data and files maintained on its server.
 D. An advanced firewall used to detect and block intrusions.

45. Question ID: HOCK IT-Cyber 01 (Topic: Data Governance)

One of the internal auditor's laptops is running slowly and frequently crashing. Which of the following
would not explain this behavior?

 A. Ransomware
 B. Denial of Service (DOS)
 C. Buffer overflows

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
 D. Malware

46. Question ID: HOCK CMA P1.F.2.c 03 (Topic: Data Governance)

In which of the following stages of the data life cycle is there data that is usable for the organization
and/or other stakeholders?

 A. Data maintenance, data usage, and data archival

 B. Data publication, data archival, and data purging
 C. Data capture, data maintenance, and data synthesis
 D. Data synthesis, data analytics, and data publication

47. Question ID: HOCK IT-Cyber 03 (Topic: Data Governance)

Which of the following represents the least amount of risk with regards to cybersecurity?

 A. The company's servers are located in over a dozen different locations across the country.
 B. A competitor clicks on all of the search ads on popular industry search terms every minute.
 C. The company's password policy requires a minimum of 6 characters in all passwords.
 D. An employee brings a thumb drive to the office and installs a set of their favorite utility programs.

Technology-enabled Finance Transformation

48. Question ID: HOCK CMA P1.F.3.d 01 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about artificial intelligence (AI) is true?

 A. Strong AI is more common than weak AI.

 B. Robotic process automation is an example of weak AI.
 C. Weak AI systems do not require any rules or training.
 D. Industrial robots use strong AI to perform their tasks.

49. Question ID: ICMA 19.1F3c.01 (Topic: Technology-enabled Finance Transformation)

Software as a Service can best be defined as a(n)

 A. Type of database management system serviced by a third party for an annual fee.
 B. On-premise ERP system installed and serviced locally.
 C. Type of cloud computing in which applications are hosted by a third party for a monthly fee.
 D. Infrastructure platform that replaces complex individual computers within a business.

50. Question ID: HOCK CMA P1.F.3.f 01 (Topic: Technology-enabled Finance Transformation)
Which of the following statements most accurately describes Software as a Service (SaaS)?

 A. SaaS is limited to basic functionality such as email and help desk platforms.
 B. SaaS platforms are developed for multiple businesses to all use the same software.
 C. Dedicated online storage servers are a common example of SaaS.
 D. In SaaS, a company deploys its own applications to the cloud.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
51. Question ID: HOCK CMA P1.F.3.c 01 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about robotic process automation (RPA) is true?

 A. Industrial robots are a type of RPA.

 B. RPA requires extensive programming knowledge.
 C. RPA software can usually take the place of a person.
 D. RPA is designed for high volume, rules-driven, repeatable tasks.

52. Question ID: HOCK CMA P1.F.3.g 04 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about a smart contract is true? A smart contract:

 A. Put the terms and conditions of a contract into blockchain.

 B. Is limited to contracts for the purchase and sale of goods.
 C. Can schedule, but not execute, payments based on agreed conditions.
 D. Is a contract digitally signed with cryptography.

53. Question ID: HOCK CIA P3 C.13 (Topic: Technology-enabled Finance Transformation)
Business Process Analysis (BPA) is a system whereby business processes are analyzed so
improvements can be made. Which of the following are the elements of a successful BPA?
I. It involves those who are most familiar with the process.
II. It focuses on processes which are secondary to the business.
III. Bottlenecks and inefficiencies are identified.
IV. Plans to migrate to the revised business process are developed.

 A. I and II only
 B. All of the above are elements of a successful BPA.
 C. I, III and IV only
 D. II and III only

54. Question ID: HOCK CMA P1.F.3.g 02 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about blockchain is false?

 A. A blockchain is a continuously growing record secured using cryptography.

 B. A blockchain is maintained via a peer-to-peer network of computers without any centralized
server.
 C. Blocks in the chain are hard to solve but easy to verify once they are solved.
 D. Once a block is added to the chain, it is impossible to change it.

55. Question ID: HOCK CMA P1.F.3.d 02 (Topic: Technology-enabled Finance Transformation)
Which of the following is not an example of machine vision?

 A. A surveillance system records 24/7 footage from 10 cameras around the office.
 B. Traffic signals can be automatically adjusted based on the traffic volume visible to traffic cameras.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
 C. Incoming documents are digitized to eliminate data entry errors.
 D. Cameras on the assembly line can determine the efficiency rate of each cell based on their
output.

56. Question ID: HOCK CMA P1.F.3.c 02 (Topic: Technology-enabled Finance Transformation)
Which of the following is not a disadvantage of robotic process automation (RPA)?

 A. RPA can result in bad output, just like work done by a human.
 B. RPA cannot perform financial reporting tasks such as consolidating financial statements.
 C. Using RPA requires significant involvement from the IT department.
 D. RPA cannot replicate human reasoning.

57. Question ID: HOCK CMA P1.F.3.e 02 (Topic: Technology-enabled Finance Transformation)
Gavin's Flower Shop sells fresh flowers to other small businesses such as funeral homes, local
supermarkets, restaurants, and conference centers. When Gavin's PC crashed, he decided to look
into cloud computing options for managing his inventory and sales as an alternative to buying,
setting up, and maintaining another PC. Gavin quickly discovered that he could use an inexpensive
tablet combined with cloud computing to simplify his business and reduce costs. When he asked a
friend in the accounting field about some possible downsides, which of the following would
likely not be among the concerns of switching to cloud computing?

 A. Customer data could be more vulnerable to exposure.

 B. Internet disruptions could lead to business disruptions.
 C. Flower orders are typically highly customized.
 D. The cloud software on the tablet will need to be updated frequently.

58. Question ID: HOCK CMA P1.F.3.e 01 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about cloud computing is not true?

 A. Cloud computing can be quickly scaled up or down depending on the organization's needs.
 B. Cloud computing reduces control risk from weak internal controls.
 C. Cloud computing includes data storage, infrastructure, and software.
 D. Cloud computing can be used as a way to affordably create redundant IT systems.

59. Question ID: ICMA 19.1F3a.01 (Topic: Technology-enabled Finance Transformation)

An analyst prepared a forecast using newly developed system features. The analyst recently left the
company and her replacement was unable to understand how to use these system functionalities. In
accordance with system development life-cycle best practices, which one of the following controls
would have prevented this situation from occurring?

 A. End-user computing efforts are outlined.

 B. Documentation standards and procedures are developed.
 C. Backup activities and requirements are put into place.
 D. Changes made to the system are monitored and evaluated.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
60. Question ID: HOCK CMA P1.F.3.g 03 (Topic: Technology-enabled Finance Transformation)
Which of the following statements about a distributed ledger is true?

 A. Each node will maintain a different portion of the ledger.

 B. A central server verifies the accuracy of each node.
 C. Every node will decide whether each transaction is authentic and valid.
 D. As long as one node approves a transaction, it will be added to the distributed ledger.

61. Question ID: HOCK CMA P1.F.3.g 05 (Topic: Technology-enabled Finance Transformation)
Which of the following is not a benefit of smart contracts?

 A. Smart contracts eliminate the risk of mistakes being made executing the contract.
 B. The distributed nature of blockchain prevents unauthorized modifications.
 C. Smart contracts can access data from third-party sources to trigger specific actions.
 D. Smart contracts can take actions automatically.

62. Question ID: HOCK CMA P1.F.3.d 03 (Topic: Technology-enabled Finance Transformation)
Using machine learning, computers can perform the repetitious work required of accountants,
freeing their time to perform more detailed analytics and less time simply "crunching numbers."
Which of the following statements regarding accountants' use of machine learning is true?

 A. Once machine learning is implemented, it can run without any supervision or review.
 B. Machine learning is a fad that accountants can safely ignore.
 C. While machine learning is helpful for transaction processing, it cannot perform data analytics.
 D. Machine learning can review past transactions and flag erroneous or questionable entries.

63. Question ID: HOCK CMA P1.F.3.g 01 (Topic: Technology-enabled Finance Transformation)
Which of the following most accurately describes a blockchain? A blockchain is:

 A. A computer that groups outstanding transactions into blocks.

 B. A random string of characters appended to a transaction before it is hashed.
 C. Taking an input string of any length and converting it to an output of fixed length.
 D. A public record of transactions in chronological order.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
Data Analytics
64. Question ID: HOCK CMA P1.F.4.d 02 (Topic: Data Analytics)
Julia is making a presentation to upper management about the benefits and limitations of data
analytics and data science in an effort to convince them to set up a data science department. Julia
covered the basic challenges such as capturing data, organizing data, storing data, privacy,
searching data, and performing data analytics to derive useful information. After concluding her
presentation, the CFO had one additional concern. Which of the following would be the most likely
concern that the CFO would raise?

 A. The company already has a data warehouse, which would be redundant with the addition of a
data science department.
 B. The increasing amount of structured data makes data analytics more difficult.
 C. Data science is not yet a well-defined field and there are few data science tools available.
 D. Data science requires a significant investment in tools, people, and training.

65. Question ID: ICMA 19.1F4c.03 (Topic: Data Analytics)

A company developed the following multiple regression equation, utilizing ten years of data, and
uses it to estimate the cost of its product.
Total cost = F + aL + bM
Where:
F = fixed costs
L = labor rate per hour
M = material cost per pound
Which one of the following changes would most likely have the greatest impact on invalidating the
results of this model?

 A. Changing the source of material to a low-cost foreign source.

 B. A significant change in labor productivity.
 C. A significant reduction in factory overhead.
 D. Renegotiation of the union contract resulting in a higher wage rate.

66. Question ID: HOCK CMA P1.F.4.k 02 (Topic: Data Analytics)

Aaron's Auto Sales is reviewing last year's sales data to determine how to create more targeted
advertisements based on the demographics of the individuals who purchase electric vehicles.
Aaron's wants to analyze key market segmentation variables such as age, marital status, family size,
gender, income, occupation, education, past vehicle purchases, accident history, and whether they
own or rent their home to determine what characteristics buyers of electric vehicles have in common.
However, to make the data simpler for analysis, Aaron's is limiting the number of factors to just
family size, income, and past vehicle purchases so that their ad campaign can be more targeted
based on only a few specific factors.
Which predictive analysis tool did Aaron's use?

 A. Data reduction
 B. Clustering
 C. Dimension reduction
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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
 D. Association rules

67. Question ID: HOCK CMA P1.F.4.d 01 (Topic: Data Analytics)

Which of the following is not considered a benefit of data science?

 A. Better decision-making.
 B. Reduction in the amount of data generated.
 C. Increased competitive advantage.
 D. Data can be used for actionable insights.

68. Question ID: HOCK CMA P1.F.4.q 01 (Topic: Data Analytics)

Which of the following statements about correlation analysis is true?

 A. Simple linear regression analysis is like to be useful if the coefficient of correlation is greater than
0.25.
 B. The closer the correlation coefficient (R) is to 0, the better the forecast using linear regression
should be.
 C. A coefficient of correlation (R) of 1 indicates a perfectly positive linear relationship.
 D. The correlation coefficient (R) is expressed as a number between 0 and 1.

69. Question ID: HOCK CMA P1.F.4.k 03 (Topic: Data Analytics)

Data mining is a large, multi-step project. The following represent four of the steps that would
typically be included in a data mining project. In what order would these steps be performed?

1. Select the data mining techniques to use

2. Determine the data mining task
3. Explore, clean, and preprocess the data
4. Reduce the data dimension

 A. 3, 4, 1, 2
 B. 4, 3, 2, 1
 C. 3, 4, 2, 1
 D. 3, 2, 4, 1

70. Question ID: ICMA 19.1F4c.01 (Topic: Data Analytics)

The type of data analytics that is most likely to yield the most impact for an organization, but is also
the most complex is called

 A. Descriptive.
 B. Prescriptive.
 C. Diagnostic.
 D. Predictive.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
71. Question ID: HOCK CMA P1.F.4.f 01 (Topic: Data Analytics)
Business intelligence gives managers and analysts the ability to conduct analysis for making
strategic decisions. Which of the following best describes the evolution of Data into Action?

 A. Data to Insight to Information to Knowledge to Strategic Decisions to Action

 B. Data to Information to Knowledge to Insight to Strategic Decisions to Action
 C. Data to Information to Knowledge to Strategic Decisions to Insight to Action
 D. Data to Information to Insight to Knowledge to Strategic Decisions to Action

72. Question ID: ICMA 19.1F4b.01 (Topic: Data Analytics)

Which one of the following statements defines data mining?

 A. A process of using algorithms that serve to facilitate efficient communication within a firm.
 B. A process of using statistical techniques to extract and analyze data from large databases to
discern patterns and trends.
 C. A system used to develop a firm’s performance metrics.
 D. A system used to organize and interpret complex data to ensure the data has been accurately
recorded in the database.

73. Question ID: HOCK CMA P1.F.4.b 01 (Topic: Data Analytics)

Email falls into which category of Big Data?

 A. Highly structured data

 B. Semi-structured data
 C. Structured data
 D. Unstructured data

74. Question ID: HOCK CMA P1.F.4.r 01 (Topic: Data Analytics)

Which of the following statements about time series analysis is not true?

 A. Trends can be linear, non-linear, or flat (no trend).

 B. An irregular pattern has predictive value.
 C. A time series may exhibit multiple patterns.
 D. Seasonality is identified by regularly spaced peaks and troughs.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
75. Question ID: HOCK CMA P1.F.4.h 02 (Topic: Data Analytics)
Comfortable Clothing Company, a retailer of casual clothes for men and women, launched a new
collection of summer skirts and blouses in April for the upcoming summer season, immediately
followed by a huge advertising campaign targeting television, radio, newspapers, and magazines.
Because trends in men's clothing had not changed significantly since the previous year, Comfortable
Clothing decided not to spend money revamping their men's lineup for the summer.
In August, the management accountants started to work through several months of sales data with
data mining tools to determine the success of their new women's clothing line and advertising
campaign. Because they were already combing through the data, they also looked at men's summer
clothing sales as part of their analysis.
Through their analysis, the senior accountant noticed that sale of men's summer clothes also went
up significantly over the same time period as women's, and concluded that advertising for women's
clothing also increases sales of men's clothing. Which of the following errors did the accountant
make in their analysis?

 A. Confirmation bias
 B. Confusing correlation with causation
 C. Gender discrimination
 D. Generalization

76. Question ID: HOCK CMA P1.F.4.c 01 (Topic: Data Analytics)

Stephen has been working with a new business intelligence system and has been able to get a
better understanding of several complex issues that he had been struggling with. Which stage of the
business intelligence process has Stephen reached?

 A. Insight
 B. Information
 C. Knowledge
 D. Strategic decisions

77. Question ID: HOCK CMA P1.F.4.t 01 (Topic: Data Analytics)

The goodness of fit and confidence interval are useful tools in regression analysis. Which of the
following statements is true regarding goodness of fit and confidence intervals?

 A. The confidence interval describes how close the actual values used in the model are to the
expected values.
 B. Goodness of fit describes the amount of uncertainty caused by the sampling used when drawing
conclusions about the population.
 C. A confidence interval of 95% means that 95% of the observed values will be within the confidence
interval.
 D. High goodness of fit means that the variables used in the regression are highly correlated with the
observations of the dependent variable.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
78. Question ID: HOCK CMA P1.F.4.k 01 (Topic: Data Analytics)
Discovering groups in data sets that have similar characteristics without using known structures in
the data is:

 A. Clustering.
 B. Prediction
 C. Dimension Reduction
 D. Association Rules

79. Question ID: HOCK CMA P1.F.4.z 01 (Topic: Data Analytics)

Which of the following statements regarding sensitivity analysis and Monte Carlo simulation analysis
is true?

 A. Changing one of the variables in sensitivity analysis is reflective of real-world changes because
real-world variables are never interrelated.
 B. Monte Carlo simulation analysis is a subset of sensitivity analysis that involves changing only one
input variable at a time.
 C. The accuracy of the assumptions and relationships used in the model for sensitivity analysis are
quickly and easily confirmed.
 D. Sensitivity analysis involves running a prediction model multiple times changing exactly one
variable between each run.

80. Question ID: ICMA 19.1F4a.01 (Topic: Data Analytics)

An organization wants to utilize business intelligence (BI) to assist in the evaluation of key metrics.
The IT manager has suggested incorporating a dashboard feature in its BI tool. Which one of the
following is the main reason that management should implement the dashboard feature?

 A. It shows patterns and trends in data across the organization.

 B. It is designed to focus on metrics that have not been met.
 C. It can automatically generate reorders of important materials for production.
 D. It allows management to have as many different charts as possible.

81. Question ID: ICMA 19.1F4c.04 (Topic: Data Analytics)

A simple regression equation has an R2 of 0.85. This means that

 A. 85% of the variation of the dependent variable is explained by the regression line.
 B. the dependent and independent variables have a correlation coefficient of 0.85.
 C. 85% of the variation of the independent variable is explained by the regression line.
 D. the dependent variable does not have a strong correlation with the independent variable.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
82. Question ID: HOCK CMA P1.F.4.h 01 (Topic: Data Analytics)
Which of the following is not considered one of the challenges of data mining?

 A. Ethical issues
 B. Bias amplification
 C. Unstructured data
 D. Quantity of data

83. Question ID: ICMA 19.1F4c.02 (Topic: Data Analytics)

In a regression analysis, the coefficient of determination (R2)

 A. tests that the independent variable has no correlation with the dependent variable.
 B. identifies the causal factor in a linear model.
 C. assesses how well a model can predict an outcome.
 D. is the proportion of the variance in the independent variable that is predictable from the
dependent variable.

84. Question ID: HOCK CMA P1.F.4.e 01 (Topic: Data Analytics)

Which of the following statements best describes data science?

 A. Data science involves the transformation of data into action.

 B. Data science is the use of statistical techniques to analyze large sets of data.
 C. Data science answers the question, "What needs to happen?"
 D. Data science extracts hidden knowledge and insights from data.

85. Question ID: ICMA 19.1F4d.01 (Topic: Data Analytics)

A hospital has observed an increase in the number of cases of a disease and has asked an analyst
to collect data on the cases over the last three years. The analyst noted that the disease appeared
three years ago during the second quarter of the year. Since then, the third and fourth quarters of
each year showed significant spikes in the number of cases when compared to the first two quarters.
What is the best way to present these findings?

 A. Bar graph, showing the number of cases in each quarter of the last three years.
 B. Scatter plot chart, showing the change in the number of cases for each quarter of the last three
years.
 C. Pie chart, showing the number of cases in each quarter of the last three years.
 D. Table, showing the number of cases in each month for the last three years.

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
86. Question ID: HOCK CMA P1.F.4.a 01 (Topic: Data Analytics)

1. _____ refers to the amount of data that exists.

2. _____ refers to the speed at which data is generated or changed.
3. _____ refers to the forms of data created and collected.
4. _____ refers to the accuracy of the data.

 A. 1) Volume 2) Velocity 3) Veracity 4) Variety

 B. 1) Variety 2) Velocity 3) Volume 4) Veracity
 C. 1) Variety 2) Veracity 3) Volume 4) Velocity
 D. 1) Volume 2) Velocity 3) Variety 4) Veracity

87. Question ID: HOCK CMA P1.F.4.i 02 (Topic: Data Analytics)

Rachel's company has recently set up a new system that offers data mining capabilities and is
training the management accountants how to use the various tools and processes. In the training,
Rachel and her colleagues learned about the process of testing different hypotheses and then
applying the results of one hypothesis as the data for another hypothesis. Which of the following
terms best identifies this process?

 A. Iteration
 B. Prediction
 C. Generalization
 D. Clustering

88. Question ID: HOCK CMA P1.F.4.r 02 (Topic: Data Analytics)

Patrick's Lawns & Walks is a small business with 10 employees that provides a combination of
landscaping services in the spring and summer and snow removal services in the winter. Over the
last four years, Patrick had worse and worse cash shortages when paying his employees, and also
had to put off purchasing new equipment that he really needed. Furthermore, the local papers have
been reporting that the regional economy entered a mild recession in the last year due to the closing
of a nearby automobile manufacturing plant. Around the time of the closure, Patrick lost many long-
time customers who had to cancel their service.
Patrick has decided that he needs to sit down and carefully analyze his revenues over time so that
he can get a better sense of the health of his business and make some projections so that he can
plan how to keep his business going. When he graphs his monthly revenue over the last four years,
which time series patterns is Patrick likely to see?

1. Trend
2. Seasonal
3. Cyclical
4. Irregular

 A. 1 and 2
 B. 1, 2, and 3

‫ﻛﻝ ﺍﻟﻛﺗﺏ ﻭﺍﻻﺳﺋﻠﻪ ﺍﻟﻠﻲ ﺗﺣﺗﺎﺟﻭﻫﺎ ﺣﺗﻼﻗﻭﻫﺎ ﻋﻠﻰ ﺍﻟﻘﻧﺎﺗﻳﻥ ﺩﻭﻝ‬

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 Hock 2020 Part 1
Section F - Technology and Analytics.
Answers
 C. 1 and 3
 D. 1, 2, 3 and 4

89. Question ID: HOCK CMA P1.F.4.i 01 (Topic: Data Analytics)

Data mining is frequently referred to as both an art and a science. Which of the following statements
most accurately describes the art and science facets of data mining?

 A. Data mining is art, meaning that the output is often visual.

 B. Data mining is more science than art.
 C. Data mining is a science, meaning that it results in definite conclusions.
 D. Data mining is an art because it involves making thoughtful choices.

‫ﻛﻝ ﺍﻟﻛﺗﺏ ﻭﺍﻻﺳﺋﻠﻪ ﺍﻟﻠﻲ ﺗﺣﺗﺎﺟﻭﻫﺎ ﺣﺗﻼﻗﻭﻫﺎ ﻋﻠﻰ ﺍﻟﻘﻧﺎﺗﻳﻥ ﺩﻭﻝ‬

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