LOMA 335 CORE EXAMS SET 2025/2026 QUESTIONS AND
SOLUTIONS RANKED A+
✔✔data distribution - ✔✔A data set with a specified set of characteristics. [9]
✔✔data editing - ✔✔A process applied for detecting and correcting inconsistencies,
errors and omissions in a collection of data. [6]
✔✔data mining - ✔✔An activity consisting of extracting useful information from existing
large data collections by means of deploying sophisticated software algorithms - and ,
sometimes, machine learning capabilities - to identify significant patterns in those large
data collections. [6]
✔✔data visualization - ✔✔the study of using illustrative graphics that convey an intuitive
understanding of data. data visualization can also be the activity of viewing aggregate
data on multiple dimensions to gain a deeper intuitive understanding of data. [6]
✔✔decision - ✔✔A choice about future action. [5]
✔✔decision alternatives - ✔✔The options a decision maker considers before selecting a
future course of action. [5]
✔✔decision analysis - ✔✔A formal process for defining a decision problem and
evaluating decision alternatives, encompassing all efforts and activities leading up to a
decision. [5]
✔✔decision constraints - ✔✔The practical limitations that affect the selection of decision
alternatives. [5]
✔✔decision criteria - ✔✔the simple-to-understand rules a decision maker uses to
evaluate decision alternatives. [5]
✔✔decision model - ✔✔A type of decision analysis tool that describes all elements of a
decision in a manner which helps a decision maker evaluate and compare several
potential courses of action. [6]
✔✔decision science - ✔✔An approach to analyzing complex decision-making problems
using mostly quantitative techniques to identify mathematically preferred or optimal
solutions. [6]
✔✔deductive reasoning - ✔✔A process of reaching the only conclusion possible from a
given set of supporting facts. Also known as deduction. [6]
,✔✔degree of confidence - ✔✔In statistical analysis, the likelihood that a calculated
value accurately predicts the true value. [9]
✔✔deliverable - ✔✔In a project, a measurable outcome from the project. [14]
✔✔democratic decision process - ✔✔A process that requires involving a whole group in
a structure-choice format with a binding commitment to implement the majority choice
under a one person, one vote selection process. [5]
✔✔denial - ✔✔A consistent cognitive error consisting of a tendency to ignore the
existence of unpleasant facts. [6]
✔✔dependent activity - ✔✔A project that cannot be started until after other activities
have been completed. [14]
✔✔dependent variable - ✔✔in modeling for research, a term representing the outcome
a researcher wishes to estimate. The estimated outcome is determined by the action of
another variable, known as an independent variable. [6]
✔✔descriptive hypothesis - ✔✔For business research, a tentative statement about the
existence, size, form or distribution of some variable. [6]
✔✔descriptive statistics - ✔✔In statistics, measures that describe the characteristics of
a complete population of known values. [9]
✔✔deviant workplace behavior - ✔✔A voluntary behavior that violates organizational
norms and thereby threatens the well-being of the organization or its members. [4]
✔✔differentiation strategy - ✔✔A strategy that supports growth in broad markets by
creating a clear delineation between a company and its competitors. [2]
✔✔directing - ✔✔In management, an activity that consists of supervising the work of
others. This function encompasses the leadership and mentoring roles of a manager as
well as the decision process necessary to adjust to changes in plan, outcomes, or
business. [1]
✔✔discrete variable - ✔✔a variable that includes a finite, or limited, number of values.
[9]
✔✔distribution channel convergence - ✔✔A trend toward a situation in which products
issued by one financial industry sector are sold through distribution channels formerly
associated with another sector of the industry. [1]
✔✔distribution function - ✔✔A smooth curve representing a data set. [9]
,✔✔DMAIC - ✔✔A five-step version of a control cycle, identified with Six Sigma
techniques and named for the initials of its five steps: Define, Measure Analyze,
Improve and Control. [10]
✔✔document management system - ✔✔An electronic system designed to manage
electronic documents by centralizing and organizing document storage, controlling
access to documents, automating routines for archiving and ensuring regulatory
compliance with records retention requirements and privacy requirements. [11]
✔✔Dodd-Frank - ✔✔a US federal law that, among other impacts, creates the Federal
Insurance Office (FIO), whose first task is to recommend how to modernize and improve
the regulation of insurance. Also known as Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010. [13]
✔✔dominant decision alternative - ✔✔In a decision model, a condition that exists if, for
all states of nature, the same decision alternative leads to the best expected payoff
value. [7]
✔✔drill-down option - ✔✔in cascading reports such as those found in dashboards,
enables linking from a parent report down to a child report. [10]
✔✔drill-through option - ✔✔In an electronic reporting system such as a dashboard, a
drill-down or drill-up link which the user of a summary report can click to see a different
level of the information, known as parent and child reports. [10]
✔✔drill-up option - ✔✔In cascading reports such as those found in dashboards, enables
linking from a child report up to a parent report. [10]
✔✔dummy activity - ✔✔In network models, an activity that is assigned a time
requirement of zero. A dummy activity is used to maintain the correct sequence of
activities in a network model. [14]
✔✔earned value - ✔✔In a project management system known as earned Value
Management, a monetary value assigned incrementally to all project steps, with the
project earning another increment of monetary value as more work is completed. [14]
✔✔earned value Gantt chart - ✔✔for project management, a chart combining the Gantt
chart approach with the earned value management approach that is designed to display
performance measures such as earned value and to highlight the differences between
actual and expected earned values. [14]
✔✔earned value management (EVM) - ✔✔a project management concept that involves
using monetary values to express project performance information. EVM project
, performance information is derived by comparing planned project scope, schedule, and
costs to actual project scope, schedule and costs. See earned value. [14]
✔✔econometric model - ✔✔a model that uses a system of interdependent regression
equations to describe a particular segment of economic activity, such as the flow of
funds into and out of the financial services industry or the components of a country's
gross domestic product. [8]
✔✔economics of scale - ✔✔In economics, savings that accrue to a seller having large
scale in financial or operational terms. [2]
✔✔effectiveness - ✔✔In quality management, getting the right things done. [10]
✔✔efficiency - ✔✔In quality management, completing an activity without creating waste.
[10]
✔✔emotional intelligence (EI) - ✔✔In leadership studies, a contemporary application of
trait theory; it refers to a person's ability to monitor and control emotions and behavior in
complex social settings. [3]
✔✔empirical testing - ✔✔Application of the scientific method to prove a statement true
or false. [6]
✔✔employee engagement - ✔✔an individual's involvement with, satisfaction with, and
enthusiasm for the work he does. [4]
✔✔environmental management - ✔✔An effort to blend company needs with staff
productivity by incorporating job design aspects including flexible hours, part-time work,
split shifts, space management and telecommuting. [1]
✔✔estimate - ✔✔A value used to approximate unknown values. Estimates may be
developed through projections, forecasting, prediction, or prognostication [8]
✔✔estimation - ✔✔a process for approximating unknown values. [8]
✔✔European Union (EU) - ✔✔A governing and lawmaking confederation of member
nations in Europe. [13]
✔✔evidence-based management approach - ✔✔An approach that asks the decision
maker to look at the readily available objective evidence and make a reasonable
decision in a reasonable time frame. [5]
SOLUTIONS RANKED A+
✔✔data distribution - ✔✔A data set with a specified set of characteristics. [9]
✔✔data editing - ✔✔A process applied for detecting and correcting inconsistencies,
errors and omissions in a collection of data. [6]
✔✔data mining - ✔✔An activity consisting of extracting useful information from existing
large data collections by means of deploying sophisticated software algorithms - and ,
sometimes, machine learning capabilities - to identify significant patterns in those large
data collections. [6]
✔✔data visualization - ✔✔the study of using illustrative graphics that convey an intuitive
understanding of data. data visualization can also be the activity of viewing aggregate
data on multiple dimensions to gain a deeper intuitive understanding of data. [6]
✔✔decision - ✔✔A choice about future action. [5]
✔✔decision alternatives - ✔✔The options a decision maker considers before selecting a
future course of action. [5]
✔✔decision analysis - ✔✔A formal process for defining a decision problem and
evaluating decision alternatives, encompassing all efforts and activities leading up to a
decision. [5]
✔✔decision constraints - ✔✔The practical limitations that affect the selection of decision
alternatives. [5]
✔✔decision criteria - ✔✔the simple-to-understand rules a decision maker uses to
evaluate decision alternatives. [5]
✔✔decision model - ✔✔A type of decision analysis tool that describes all elements of a
decision in a manner which helps a decision maker evaluate and compare several
potential courses of action. [6]
✔✔decision science - ✔✔An approach to analyzing complex decision-making problems
using mostly quantitative techniques to identify mathematically preferred or optimal
solutions. [6]
✔✔deductive reasoning - ✔✔A process of reaching the only conclusion possible from a
given set of supporting facts. Also known as deduction. [6]
,✔✔degree of confidence - ✔✔In statistical analysis, the likelihood that a calculated
value accurately predicts the true value. [9]
✔✔deliverable - ✔✔In a project, a measurable outcome from the project. [14]
✔✔democratic decision process - ✔✔A process that requires involving a whole group in
a structure-choice format with a binding commitment to implement the majority choice
under a one person, one vote selection process. [5]
✔✔denial - ✔✔A consistent cognitive error consisting of a tendency to ignore the
existence of unpleasant facts. [6]
✔✔dependent activity - ✔✔A project that cannot be started until after other activities
have been completed. [14]
✔✔dependent variable - ✔✔in modeling for research, a term representing the outcome
a researcher wishes to estimate. The estimated outcome is determined by the action of
another variable, known as an independent variable. [6]
✔✔descriptive hypothesis - ✔✔For business research, a tentative statement about the
existence, size, form or distribution of some variable. [6]
✔✔descriptive statistics - ✔✔In statistics, measures that describe the characteristics of
a complete population of known values. [9]
✔✔deviant workplace behavior - ✔✔A voluntary behavior that violates organizational
norms and thereby threatens the well-being of the organization or its members. [4]
✔✔differentiation strategy - ✔✔A strategy that supports growth in broad markets by
creating a clear delineation between a company and its competitors. [2]
✔✔directing - ✔✔In management, an activity that consists of supervising the work of
others. This function encompasses the leadership and mentoring roles of a manager as
well as the decision process necessary to adjust to changes in plan, outcomes, or
business. [1]
✔✔discrete variable - ✔✔a variable that includes a finite, or limited, number of values.
[9]
✔✔distribution channel convergence - ✔✔A trend toward a situation in which products
issued by one financial industry sector are sold through distribution channels formerly
associated with another sector of the industry. [1]
✔✔distribution function - ✔✔A smooth curve representing a data set. [9]
,✔✔DMAIC - ✔✔A five-step version of a control cycle, identified with Six Sigma
techniques and named for the initials of its five steps: Define, Measure Analyze,
Improve and Control. [10]
✔✔document management system - ✔✔An electronic system designed to manage
electronic documents by centralizing and organizing document storage, controlling
access to documents, automating routines for archiving and ensuring regulatory
compliance with records retention requirements and privacy requirements. [11]
✔✔Dodd-Frank - ✔✔a US federal law that, among other impacts, creates the Federal
Insurance Office (FIO), whose first task is to recommend how to modernize and improve
the regulation of insurance. Also known as Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010. [13]
✔✔dominant decision alternative - ✔✔In a decision model, a condition that exists if, for
all states of nature, the same decision alternative leads to the best expected payoff
value. [7]
✔✔drill-down option - ✔✔in cascading reports such as those found in dashboards,
enables linking from a parent report down to a child report. [10]
✔✔drill-through option - ✔✔In an electronic reporting system such as a dashboard, a
drill-down or drill-up link which the user of a summary report can click to see a different
level of the information, known as parent and child reports. [10]
✔✔drill-up option - ✔✔In cascading reports such as those found in dashboards, enables
linking from a child report up to a parent report. [10]
✔✔dummy activity - ✔✔In network models, an activity that is assigned a time
requirement of zero. A dummy activity is used to maintain the correct sequence of
activities in a network model. [14]
✔✔earned value - ✔✔In a project management system known as earned Value
Management, a monetary value assigned incrementally to all project steps, with the
project earning another increment of monetary value as more work is completed. [14]
✔✔earned value Gantt chart - ✔✔for project management, a chart combining the Gantt
chart approach with the earned value management approach that is designed to display
performance measures such as earned value and to highlight the differences between
actual and expected earned values. [14]
✔✔earned value management (EVM) - ✔✔a project management concept that involves
using monetary values to express project performance information. EVM project
, performance information is derived by comparing planned project scope, schedule, and
costs to actual project scope, schedule and costs. See earned value. [14]
✔✔econometric model - ✔✔a model that uses a system of interdependent regression
equations to describe a particular segment of economic activity, such as the flow of
funds into and out of the financial services industry or the components of a country's
gross domestic product. [8]
✔✔economics of scale - ✔✔In economics, savings that accrue to a seller having large
scale in financial or operational terms. [2]
✔✔effectiveness - ✔✔In quality management, getting the right things done. [10]
✔✔efficiency - ✔✔In quality management, completing an activity without creating waste.
[10]
✔✔emotional intelligence (EI) - ✔✔In leadership studies, a contemporary application of
trait theory; it refers to a person's ability to monitor and control emotions and behavior in
complex social settings. [3]
✔✔empirical testing - ✔✔Application of the scientific method to prove a statement true
or false. [6]
✔✔employee engagement - ✔✔an individual's involvement with, satisfaction with, and
enthusiasm for the work he does. [4]
✔✔environmental management - ✔✔An effort to blend company needs with staff
productivity by incorporating job design aspects including flexible hours, part-time work,
split shifts, space management and telecommuting. [1]
✔✔estimate - ✔✔A value used to approximate unknown values. Estimates may be
developed through projections, forecasting, prediction, or prognostication [8]
✔✔estimation - ✔✔a process for approximating unknown values. [8]
✔✔European Union (EU) - ✔✔A governing and lawmaking confederation of member
nations in Europe. [13]
✔✔evidence-based management approach - ✔✔An approach that asks the decision
maker to look at the readily available objective evidence and make a reasonable
decision in a reasonable time frame. [5]
