Week-3 Tutorial

A company needs to implement data governance to comply with multiple regulations. What should be their first step?

• Build a new data warehouse

• Identify key stakeholders and assign roles and responsibilities

• Implement encryption for all data

• Perform a data quality audit

Which of the following is most critical when setting up a data governance framework for a global FinTech company?

• Having uniform policies across all regions

• Localizing policies to meet individual country’s data regulations

• Using only internal data standards

• Excluding third-party vendors

An organization is experiencing duplicate data in its customer database. Which data governance process can help resolve this issue?

• Data Masking

• Data Cleansing

• Data Encryption

• Data Stewardship

A data steward identifies that data privacy regulations have changed. What should their next action be?

• Ignore the change as it doesn’t impact the current dataset

• Update data governance policies to ensure compliance

• Inform the legal department

• Implement immediate access restrictions on all datasets

How should an organization approach data governance when integrating data from multiple sources?

• Focus only on performance optimization

• Define and enforce consistent data quality standards across sources

• Encrypt all incoming data

• Allow each source to maintain its data governance practices

When performing a data audit, which of the following is the primary focus?

• Monitoring user access

• Ensuring the IT infrastructure is up-to-date

• Identifying discrepancies in data accuracy and integrity

• Implementing new data storage solutions

A FinTech company is trying to improve its decision-making by using customer data. What data governance principle should they prioritize?

• Data Availability

• Data Duplication

• Data Obfuscation

• Data Archiving

A financial institution faces conflicting regulatory requirements from two different regions. How should they address this in their data governance strategy?

• Choose the less strict regulation to minimize costs

• Apply the stricter regulation globally

• Create region-specific data governance policies that meet both regulatory requirements

• Ignore the conflicting requirements and implement uniform data policies

A company identifies that the same data element is being interpreted differently by two departments (e.g., customer name field). How should this issue be resolved?

• Create two separate data elements for each department

• Establish a common data dictionary and standardize the definition

• Ignore the differences and continue with both interpretations

• Delete one of the data elements

A large FinTech company is experiencing poor data quality across its customer database due to inconsistent data entry practices. What should be the primary focus to resolve this?

• Implement stronger encryption methods

• Apply stricter access controls

• Standardize data entry protocols and train employees

• Increase data storage capacity