ISA 235 EXAM 2 ACTUAL TEST PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Value Chain: Support Value Activities. Answer: - Firm
infrastructure
- Human resource management
- Technology development
- Procurement
◉ Value Chain: Primary Value Activities (found at the bottom of
value chain) Answer: - Receive and store raw materials
- Make the product or service
- Deliver the product or service
- Market and sell the product or service
- Service after the sale
◉ Internet of Things (IOT): Answer: A world where interconnected,
Internet-enabled devices or "things" can collect and share data
without human intervention.
◉ Knowledge: Answer: Includes the skills, experience, and expertise,
coupled with information and intelligence, that creates a person's
intellectual resources.
,◉ Porter's Five Forces Model: Answer: A model for analyzing the
competitive forces within the environment in which a company
operates, to assess the potential for profitability in an industry.
◉ Data Silo: Answer: Occurs when one business unit is unable to
freely communicate with other business units making it difficult or
impossible for organizations to work cross-functionally.
◉ Data: Answer: Raw facts that describe the characteristics of an
event or object.
◉ Business Intelligence (BI): Answer: Information collected from
multiple sources such as suppliers, customers, competitors,
partners, and industries that analyzes patterns, trends, and
relationships for strategic decision making
◉ System: Answer: a collection of parts that link to achieve a
common purpose
◉ Big Data: Answer: a collection of large, complex data sets,
including structured and unstructured data, which cannot be
analyzed using traditional database methods and tools
, ◉ 4 common characteristics of big data: (think the 4 V's) Answer: -
Variety (different forms of data)
- Velocity ( Analysis of streaming data)
- Volume (scale of data)
- Veracity (uncertainty of data)
◉ Information: Answer: Data converted into a meaningful and useful
context
◉ Analytics: Answer: the science of fact-based decision making
◉ Business Analytics: Answer: the scientific process of transforming
data into insight for making better decisions
◉ Systems Thinking: Answer: the ability to model the components of
the system to connect the inputs and outputs among those
components into a sensible whole that reflects the structure and
dynamics of the phenomenon observed
ex: cars, ecosystems
◉ SWOT Analysis: Answer: S: strengths
W: weaknesses
O: opportunities
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Value Chain: Support Value Activities. Answer: - Firm
infrastructure
- Human resource management
- Technology development
- Procurement
◉ Value Chain: Primary Value Activities (found at the bottom of
value chain) Answer: - Receive and store raw materials
- Make the product or service
- Deliver the product or service
- Market and sell the product or service
- Service after the sale
◉ Internet of Things (IOT): Answer: A world where interconnected,
Internet-enabled devices or "things" can collect and share data
without human intervention.
◉ Knowledge: Answer: Includes the skills, experience, and expertise,
coupled with information and intelligence, that creates a person's
intellectual resources.
,◉ Porter's Five Forces Model: Answer: A model for analyzing the
competitive forces within the environment in which a company
operates, to assess the potential for profitability in an industry.
◉ Data Silo: Answer: Occurs when one business unit is unable to
freely communicate with other business units making it difficult or
impossible for organizations to work cross-functionally.
◉ Data: Answer: Raw facts that describe the characteristics of an
event or object.
◉ Business Intelligence (BI): Answer: Information collected from
multiple sources such as suppliers, customers, competitors,
partners, and industries that analyzes patterns, trends, and
relationships for strategic decision making
◉ System: Answer: a collection of parts that link to achieve a
common purpose
◉ Big Data: Answer: a collection of large, complex data sets,
including structured and unstructured data, which cannot be
analyzed using traditional database methods and tools
, ◉ 4 common characteristics of big data: (think the 4 V's) Answer: -
Variety (different forms of data)
- Velocity ( Analysis of streaming data)
- Volume (scale of data)
- Veracity (uncertainty of data)
◉ Information: Answer: Data converted into a meaningful and useful
context
◉ Analytics: Answer: the science of fact-based decision making
◉ Business Analytics: Answer: the scientific process of transforming
data into insight for making better decisions
◉ Systems Thinking: Answer: the ability to model the components of
the system to connect the inputs and outputs among those
components into a sensible whole that reflects the structure and
dynamics of the phenomenon observed
ex: cars, ecosystems
◉ SWOT Analysis: Answer: S: strengths
W: weaknesses
O: opportunities
