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WorksheetsCIMA_Part2
Total questions: 49
Worksheet time: 49mins
“A rapid and major change in an economy, driven by a shift in the methods and types of work undertaken” best describes what?
Globalisation
An industrial revolution
The digital ąge
Political instability
How is the delivery of on-demand computing resources otherwise known?
Artificial Intelligence
The Internet of things
Big data
Cloud computing
The process by which users log on to remote servers to access and process their files is best known as what?
Cloud computing
Wide Area Network
The internet
Remote working
What are the TWO main types of cloud computing?
Public Cloud
Restricted Cloud
Private Cloud
Amazon Cloud
Which THREE of the following are disadvantages of cloud computing?
Scalability
Contract management
Potential job losses
Reliance on a third party
Increases cost
Which THREE of the following statements relating to big data are true?
Big data refers to any financial data over $1 billion
The defining characteristics of big data are velocity, volume and variety
Managing big data effectively can lead to increased competitive advantage
The term big data means ‘data that comes from many sources
Big data contains both financial and non-financial data
Which of the following sentences is true?
Process automation is only feasible for simple, repetitive tasks
Process automation in complex business areas is beyond the limits of technology
Process automation can enable a business to save costs
Process automation usually leads to employee dissatisfaction
Machines working and reacting like human beings describes what?
Robotics
Voice recognition
Artificial intelligence
The 4th Industrial Revolution
Which of the following is a definition of a blockchain?
A technology that allows people who do not know each other to trust a shared record of events
A centralised, undistributed and private digital ledger that is used to record transactions
A sequence of transactions facilitate d by the internet
A supply chain management system used to improve efficiency
Which THREE of the following statements about a blockchain are true?
Blockchain is regarded as a solution to cyber security risk
Records in the block chain are publically available and distributed across everyone that is part of the network of participants
Records in the blockchain are always kept private to enhance security
The verification of transactions is carried out by computers
The verification of transaction is carried out by individuals
What is the internet of things?
An interactive collection of websites enabling users to communicate with one another
A technology that allows people who do not know each other to trust a shared record of event
Smart phones that enable users to control appliances within their home such as their heating or lighting
A network of smart devices with inbuilt software and connectivity which connect to the internet
Advancements in mobile technology have contributed to the decline in the newspaper industry?
Is this statement true or false?
True
False
How Is “additive manufacturing», creating a product layer by layer, better known?
Cellular manufacturing
Lean manufacturing
3-D printing
Blockchain technology
Which THREE of the following are consequences of the developments in mobile technologies?
The decline of the newspaper industry
The decline of social media interactions
The decline in the number of retail bank branches
An increase in the on demand nature of music
An increase in the cost to manufacture smart devices
Which of the following statements about data visualisation Is true?
The most common use of data visualisation is the creation of a dashboard displaying real time KPis
Data is always displayed in standardised formats to ensure consistency
Data visualisation refers to data that is analysed using virtual reality software
Increased use of data visualisation within organisations increases the need for more IT experts
TPO Company manufactures jewellery and has been looking at ways to improve its customers’ experience. It has decided to enable customers to customise their purchases. The company’s first goal is to identify the preferences of its different customer groups.
Which of the following tools will help TPO achieve this goal?
Artificial intelligence
Data Analytics
Process automation
Data visualisation
GHP Company manufactures chilled meals for resale to supermarkets. As part of GHP‘s recent technological upgrade, and as part of its adoption of the benefits of the internet of things, the company has installed a new temperature control for the mechanical cooling system in the warehouse where the meals are stored.
Which THREE of the following features of the control are possible because of the internet of things?
Sensing the current temperature inside the warehouse and adjusting the output of the mechanical cooling system accordingly
Responding to remote instructions from the company’s head office to alter the temperature in the warehouse
Tracking the anticipated external temperature and pre-emptively adjusting the internal temperature in the warehouse
Gathering and feeding back temperature and cooling systems data to GHP
Controlling the temperature to within 0.05 degrees to ensure adherence to national food storage regulations
Technologies which are anticipated to update existing systems to improve capability are often referred to as what?
Core modernisation tools
Exponentials
Innovators
The digital age
Technologies which will deliver new capabilities are the often referred to as what?
Core modernisation tools
Exponentials
Innovators
The digital age
Which of the following is a disadvantage of cloud computing?
Increased flexibility to working arrangemets
More reliance on third party suppliers
Access to continually up to date software
Easier integration of systems
Cloud computing enables multiple users to collaborate on a file at the same time, although this increases the risk of version control issues.
Is this statement true or false?
True
False
Which of the following statements regarding blockchain are true?
(i) Blockchain technology involves the use of a distributed ledger
(ii) Cryptocurrencies should be considered as intangible assets in the financial statements
(iii) The use of blockchain technologies removes the need for traditional intermediaries in transactions
(iv) Blockchain solutions will not overcome the issue of slow cross border payments
(i) and (ii)
(i) and (iii)
(iii) and (iv)
(i), (ii) and (iii)
How has 3-D printing primarily impacted the finance function?
Impacted the costings of operations
Facilitated the creation at assets
Driven higher revenues
Increased inventories
Which THREE of the following are qualities identified by Forbes as being important dimensions of the digital mind set?
Provide vision yet empower others
Have the imagination to innovate
Be sceptical yet open minded
Sustain yet disrupt
Retain control yet be open minded
Book-my-room is a broker facilitating the letting of private accommodation between individuals.
Which of the following is a likely consequence for their financial statements?
Their network of contracts will be recognised as an intangible asset on their statement of financial position
The true value of Book-my-room may be understated on their statement of financial position
The expenses on the statement of profit or loss will be overstated
Their statement of cashflows will be reduced as the private individuals sort payment of the lettings out between themselves
Which of the following statements about big data and the internal audit function are true?
The emergence of big data has improved the accuracy of data which means smaller sample sizes now need to be tested
Internal audit will now be testing and analysing larger populations of data
Big data has no relevance to the internal audit function
Big data will contribute to the development of more efficient and insightful management control systems and budgeting processes
Cryptocurrencies should be accounted for as cash and cash equivalents on the statement of financial position?
Is this statement true or false?
True
False
So Handy is a relatively young business comprising a franchised network of labourers such as plumbers, electricians and carpenters. Each franchisee has an app that enables them to log and record the expenses they incur as well as scanning all receipts for materials purchased.
What type of technology are they making use of?
social media
internet of things
an intranet
mobile technology
Which THREE of the following are principles within GDPR?
Data must be kept for longer than five years
Data must be used for a specified, explicit purpose
Data held must be accurate
Data must be used transparently
Data should always be in a hard copy format
Compliance with GDPR is the only thing that matters where data usage is concerned.
Is this statement true or false?
True
False
Corporate digital responsibility (CDR) involves a commitment to protect customers.
Which TWO of the following statements are true about CDR?
It demonstrates an awareness of the risks associated with data
It is unnecessary as all data regulations are covered within GDPR
It is a voluntary commitment to go beyond mere compliance with legislation
It is a legal requirement for any organisation that holds data about its customers
In the context of CDR, which of the following is an example of “digital inclusion”?
lncentivising customers to give more data
The customer’s ability to opt in and be rewarded for sharing data
Helping and supporting customers to access the online digital world
A bank using a customer’s financial information to help them improve their financial management
What is meant by digital inclusion?
The use of technology to analyse an entire data population rather than a sample
The need to reward and incentivise customers to provide companies with data
The attempt to ensure that all members of society have the skills and tools to access the online digital world
The use of blockchain technology to synchronise data and transactions across a network
Which THREE of the following are important dimensions of a digital mindset?
Empowering employees to take action to adapt the organisation
Letting go of existing business practices in favour of new ideas
Fully embracing and exploring new technologies
Trusting intuition and vision to focus on change
Maintaining a clear vision of how the business should change
Providing insightful information to the organisation can enhance the competitive advantage, however, will also always increase the costs to the business.
ls this statement true or false?
True
False
Which THREE of the following are ways that data and technology can support the marketing function?
Comparing price with competitors
Assessing the viability of market segments
Improving efficiencies in the supply chain
Preventative maintenance of products
Personalising communications with customers
Which TWO of the following are features of a DAMS?
Decentralised digital asset access
Open access to any user
Facilitated by cloud based software
Single central location for digital asset storage
Because digital assets are stored on the cloud it makes them less secure than if they were stored on a hard drive.
Is this statement true or false?
True
False
How are medium-term decisions better known?
Strategic
Managerial
Operational
Tactical
What does the acronym DAMS stand for?
Data and marketing strategy
Digitised automatic management system
Digital asset management system
Data assisted management strategy
There are three levels of decision making; strategic, tactical and operational.
In this context which of the following statements are true?
(i) Strategic decisions are clearly important but without good tactical support, good strategic decisions may never be realised.
(ïi) Operational decision-making may be the last of the three but poor operational decisions will often cause costs to spiral out of control.
(i) only
(ii) only
Both are true
Neither are true
Which of the following would be correctly described as inforrmation to the sales director of a business?
The invoice total of a sale made
The average daily sales per department
The lead time expected on raw materials
The sales price list for the company products
In the context of digital asset management systems (DAMS) which of the following statements are true?
(i) Once someone has permission to use (say) an image there is nothing to stop them
Sharing that image with others.
(ii) Once someone has permission to use (say) an image then there is nothing to stop them using that image for longer than it was intended.
(i) only
(ii) only
Both are true
Neither are true
Which of the following best describes tactical decision-making?
Long-term decisions made by senior management
Decisions made repeatedly over the short term
Decisions which impact the entire organisation
Decisions involving putting the strategic plan into action
Beth and her colleagues at the same level of the organisational hierarchy are in discussions about which, if any, acquisitions to make using the surplus funds of the business. They are choosing between two similar businesses.
Which level of decision-making are they engaging in?
Strategic
Tactical
Acquisitional
Operational
Maypole ltd has been analysing various aspects of the data that it collects. Their data analyst has identified that parents with children of a particular age are regularly searching for products on their website.
Which benefit of data analytics is specifically being exhibited?
Enhanced data transparency
Efficiency gains
Enhanced performance
Market customization
Data which gives insight Into the relationship between a product launch and subsequent sales helps with which one aspect of the marketing mix?
Product
Price
Place
Promotion
Connecting machines on the internet of things to collect real time da ta has many advantages for a manufacturing business.
Monitoring the performance of the machines enables which of the following advantages specifically?
Forecasting
Preventative maintenance
Improved service for customers
Supply chain collaboration
In the context of GDPR, which of the following statements are true?
(i) The storage of data is not covered by the legislation, it is more about how the data is used.
(ii) The data that is allowed to be stored is basically the same for alt business.
(i) only
(ii) only
Both are true
Neither are true
