FNSINC612 Practice 3

Which of the following is a global business intelligence corporation that provides credit ratings on bonds, countries and other investments?

• ASX (Australian Securities Exchange)

• S&P (Standard and Poor's)

• AASB (Australian Accounting Standard Board)

• FSC (Financial Service Council

Which of the following develops, issues and maintains principles-based Australian accounting and external reporting standards?

• ASX (Australian Securities Exchange)

• S&P (Standard and Poor's)

• AASB (Australian Accounting Standard Board)

• FSC (Financial Service Council

Which of the following represents Australia's retail and wholesale funds management businesses, superannuation funds, life insurers and financial advisory networks?

• ASX (Australian Securities Exchange)

• APRA (Australian Prudential Regulation Authority)

• AASB (Australian Accounting Standard Board)

• FSC (Financial Service Council

Which of the following is one of the world's leading financial market exchanges?

• ASX (Australian Securities Exchange)

• APRA (Australian Prudential Regulation Authority)

• AASB (Australian Accounting Standard Board)

• FSC (Financial Service Council

Which of the following provides data and statistics on all aspects of the banking industry and act as its regulatory body?

• ASX (Australian Securities Exchange)

• APRA (Australian Prudential Regulation Authority)

• AASB (Australian Accounting Standard Board)

• FSC (Financial Service Council

Match the following.

• Consistency check

• Check whether compulsory field has no values

• Code check

• Check whether postal codes are entered correctly.

• Missing data check

• Check whether one entry method is used

Match the following.

• Missing data check

• Check whether the same data is entered multiple times

• Duplication check

• Check whether compulsory field has no values

• Validity/format check

• Check whether letters or symbols are used instead of having numbers entered only

Match the following.

• Code check

• Check whether data falls outside the normal parameters

• Consistency check

• Check whether postal codes are correct

• Range check

• Check whether one entry method for dates is used for all data

Why should organization validate the data (by performing various checks)?

• Make sure data is accurate.

• To identify the best person on the data entering team.

• To identify the problems with data collection method.

• To avoid issues when using software to do analysis.

Why should organization validate the data (by performing various checks)?

• Make sure the objective of the research is suitable.

• To avoid the mistake of making the wrong conclusion.

• To identify the problems with data collection method.

• To make sure that details of the data set are correct.