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CSBI – HFMA EXAM QUESTIONS WITH
ANSWERS.
Incorrect acceptance - correct answer -the sample can yield a
conclusion that supports a theory about the population when it is
not existent in the population
Incorrect Rejection - correct answer -The sample can yield a
conclusion that rejects a theory about the population when the
theory holds true in the population (poses more of a concern)
t test - correct answer -used when you cannot know the result of
the total population yet want a level of confidence that what your
sample is indicating is true or applicable to the entire population
two-sample t test - correct answer -allows for a sample size as
small as six and calls for 920 depending on the confidence level
desired in the result - 25% confidence level with six and 99%
confidence level with 920.
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Common mistakes made by BI analysts - correct answer -1-
sophistication compensating for lack of data
2-difficulty finding and explaining patterns in data
3-equating correlation with causation
Prioritization Metric Chart (PMC) - correct answer -tool enables a
prioritization that allows tradeoff decision making about what to
work on with limited resources. Helps ensure that important items
are not obscured by items of great weight or urgency.
Opportunity Prioritization Analysis - correct answer -Steps 1 - List
items and classify within ASAA
2 - Weigh each characteristic as a fraction of 1.0
3- Rate each item's performance from 1 to 5
4- Multiply ratings by the weight to obtain item score
5- Compare scores to see priority focus area
6- Analytics of all three types are developed and in use
Areas of Significant for Analytic Application (ASAA) - correct
answer -1-Asset intensive
2-Labor intensive
3-Depend on speed and timing
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4-Reliant of consistency and control
5-Distributed decision making
5-Cross functional/cross business
Cross functional/cross business - correct answer -Scope that
drives multiple departmental or business unit collaboration or
effects
Levers for creating business value - correct answer -1 - data is
available; measurement is well understood
2-analytics capability - structure and capability support activity
3-tools - readily available and readily accessed
4-people-avialable and readily accessible with expertise to deliver
Power Decision Atributes - correct answer -1-Precision
2-Consistency
3-Agility
4-Speed
5-Best Cost
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TCO - correct answer -The resulting value of the analytics
application. Equals the resulting dollars - costs (development
maintenance, use costs, technology application, installation costs)
Iterative Process of Creative Analytic Thinking - correct answer -
1-Preparation
2-Immersion
3-Incubation
4-Insight
emotional intelligence - correct answer -Involves two competency
sets - personal and social. It is ones ability to engage certain
personal and social competencies yields stronger leadership
performance and subsequent results as a change agent.
what are the personal competencies? (how one manages oneself)
- correct answer -1. Self-Awareness strengths and limitations of
self confidence
2. Self-Management: Self-control, Adaptability, Initiative and
Honesty/Integrity
3. Motivation
CSBI – HFMA EXAM QUESTIONS WITH
ANSWERS.
Incorrect acceptance - correct answer -the sample can yield a
conclusion that supports a theory about the population when it is
not existent in the population
Incorrect Rejection - correct answer -The sample can yield a
conclusion that rejects a theory about the population when the
theory holds true in the population (poses more of a concern)
t test - correct answer -used when you cannot know the result of
the total population yet want a level of confidence that what your
sample is indicating is true or applicable to the entire population
two-sample t test - correct answer -allows for a sample size as
small as six and calls for 920 depending on the confidence level
desired in the result - 25% confidence level with six and 99%
confidence level with 920.
, Page | 2
Common mistakes made by BI analysts - correct answer -1-
sophistication compensating for lack of data
2-difficulty finding and explaining patterns in data
3-equating correlation with causation
Prioritization Metric Chart (PMC) - correct answer -tool enables a
prioritization that allows tradeoff decision making about what to
work on with limited resources. Helps ensure that important items
are not obscured by items of great weight or urgency.
Opportunity Prioritization Analysis - correct answer -Steps 1 - List
items and classify within ASAA
2 - Weigh each characteristic as a fraction of 1.0
3- Rate each item's performance from 1 to 5
4- Multiply ratings by the weight to obtain item score
5- Compare scores to see priority focus area
6- Analytics of all three types are developed and in use
Areas of Significant for Analytic Application (ASAA) - correct
answer -1-Asset intensive
2-Labor intensive
3-Depend on speed and timing
, Page | 3
4-Reliant of consistency and control
5-Distributed decision making
5-Cross functional/cross business
Cross functional/cross business - correct answer -Scope that
drives multiple departmental or business unit collaboration or
effects
Levers for creating business value - correct answer -1 - data is
available; measurement is well understood
2-analytics capability - structure and capability support activity
3-tools - readily available and readily accessed
4-people-avialable and readily accessible with expertise to deliver
Power Decision Atributes - correct answer -1-Precision
2-Consistency
3-Agility
4-Speed
5-Best Cost
, Page | 4
TCO - correct answer -The resulting value of the analytics
application. Equals the resulting dollars - costs (development
maintenance, use costs, technology application, installation costs)
Iterative Process of Creative Analytic Thinking - correct answer -
1-Preparation
2-Immersion
3-Incubation
4-Insight
emotional intelligence - correct answer -Involves two competency
sets - personal and social. It is ones ability to engage certain
personal and social competencies yields stronger leadership
performance and subsequent results as a change agent.
what are the personal competencies? (how one manages oneself)
- correct answer -1. Self-Awareness strengths and limitations of
self confidence
2. Self-Management: Self-control, Adaptability, Initiative and
Honesty/Integrity
3. Motivation
