DATA GOVERNANCE EXAM 2 REVIEW QUESTIONS AND
ANSWERS
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: In any Company, Certain Data is Required in Three Business Realms, what Realms are
they? - CORRECT ANSWER✅✅• Business areas.
• Business processes.
• Business systems.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: True or False: Stakeholders Benefit if they Can Access the Same Customer Lists,
Geographic Codes, Government Codes, Accounting Cost Centers, etc. - CORRECT ANSWER✅✅True
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Reference Data? - CORRECT ANSWER✅✅• 𝐑𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐃𝐚𝐭𝐚:
▪ Data used to categorize other data.
▪ 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐞𝐬 𝐩𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐛𝐥𝐞 𝐯𝐚𝐥𝐮𝐞𝐬 𝐭𝐨 𝐛𝐞 𝐮𝐬𝐞𝐝 𝐛𝐲 𝐨𝐭𝐡𝐞𝐫 𝐝𝐚𝐭𝐚 𝐞𝐥𝐞𝐦𝐞𝐧𝐭𝐬.
- E.g., Customer Status - Active, Inactive
- E.g., Level of Education - MS, BS, PhD
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Master Data? - CORRECT ANSWER✅✅• 𝐌𝐚𝐬𝐭𝐞𝐫 𝐃𝐚𝐭𝐚:
▪ 𝐓𝐡𝐨𝐬𝐞 𝐞𝐧𝐭𝐢𝐭𝐢𝐞𝐬, 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬, 𝐚𝐧𝐝 𝐚𝐭𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐬 𝐭𝐡𝐚𝐭 𝐚𝐫𝐞 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐟𝐨𝐫 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐚𝐧𝐝
𝐟𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐭𝐨 𝐤𝐞𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐬𝐲𝐬𝐭𝐞𝐦𝐬.
- They provide context for business transactions and analysis.
- Employees, customers, products, financial structures, etc.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is the Most Widely Shared Class of Data in a Company? - CORRECT
ANSWER✅✅Reference Data
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Business Drivers for Establishing a Master Data Management Program - CORRECT
ANSWER✅✅• 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
,▪ Meeting organizational data requirements.
▪ Managing data quality.
▪ Managing the costs of data integration.
▪ Reducing risk.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Business Drivers for Establishing a Reference Data Management Program - CORRECT
ANSWER✅✅• 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
▪ Meet data requirements for multiple initiatives and reduce risks and costs of data integration through
consistent use of reference data.
▪ Manage the quality of reference data.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of a Reference and Data Management Program - CORRECT ANSWER✅✅• 𝐆𝐨𝐚𝐥𝐬:
▪ Ensuring the company has complete, consistent, current, authoritative master and reference data
across company processes.
▪ Enabling master and reference data to be shared across company functions and processes.
▪ Lowering the cost and reducing the complexity of data usage.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Principles of a Reference and Master Data Management Program - CORRECT
ANSWER✅✅• 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬:
▪ Shared data
▪ Ownership
▪ Quality
▪ Stewardship
▪ Controlled change
▪ Authority
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Master Data Management (MDM) - CORRECT ANSWER✅✅MDM entail controls over
master data values and identifiers that enable consistent use, across systems, of the most accurate and
timely data about essential business entities.
, 𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of Master Data Management (MDM) - CORRECT ANSWER✅✅The goals of MDM
include ensuring availability of accurate, current values while reducing risks associated with ambiguous
identifiers.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Reference Data Management (RDM) - CORRECT ANSWER✅✅RDM entails control over
defined domain values and their definitions.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of Reference Data Management (RDM) - CORRECT ANSWER✅✅The goal of RDM is
to ensure the company has access to a complete set of accurate and current values for each concept
represented.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Gartner Definition of Master Data Management (MDM) - CORRECT ANSWER✅✅"A
technology enabled disciplines in which business and IT work together to ensure the uniformity,
accuracy, consistency, and accountability of the company's official shared master data assets."
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Matching? - CORRECT ANSWER✅✅Matching is the process of identifying which
different records may relate to a single entity.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What are the Two Risks with the Matching Process? - CORRECT ANSWER✅✅• 𝐅𝐚𝐥𝐬𝐞
𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞𝐬:
▪ Two references that do not represent the same entity are linked with a single identifier, resulting in
one identifier that refers to multiple entities.
• 𝐅𝐚𝐥𝐬𝐞 𝐍𝐞𝐠𝐚𝐭𝐢𝐯𝐞𝐬:
▪ Two references represent the same entity but are not linked with a single identifier, resulting in
multiple identifiers for the same entity.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Party Master Data? - CORRECT ANSWER✅✅Data that includes data about
individuals, organizations, and the roles they play in business relationships.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: True or False: Party Master Data Creates 360 Degrees Visibility by Linking all Roles to a
Central Person - CORRECT ANSWER✅✅True
ANSWERS
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: In any Company, Certain Data is Required in Three Business Realms, what Realms are
they? - CORRECT ANSWER✅✅• Business areas.
• Business processes.
• Business systems.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: True or False: Stakeholders Benefit if they Can Access the Same Customer Lists,
Geographic Codes, Government Codes, Accounting Cost Centers, etc. - CORRECT ANSWER✅✅True
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Reference Data? - CORRECT ANSWER✅✅• 𝐑𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐃𝐚𝐭𝐚:
▪ Data used to categorize other data.
▪ 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐞𝐬 𝐩𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐛𝐥𝐞 𝐯𝐚𝐥𝐮𝐞𝐬 𝐭𝐨 𝐛𝐞 𝐮𝐬𝐞𝐝 𝐛𝐲 𝐨𝐭𝐡𝐞𝐫 𝐝𝐚𝐭𝐚 𝐞𝐥𝐞𝐦𝐞𝐧𝐭𝐬.
- E.g., Customer Status - Active, Inactive
- E.g., Level of Education - MS, BS, PhD
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Master Data? - CORRECT ANSWER✅✅• 𝐌𝐚𝐬𝐭𝐞𝐫 𝐃𝐚𝐭𝐚:
▪ 𝐓𝐡𝐨𝐬𝐞 𝐞𝐧𝐭𝐢𝐭𝐢𝐞𝐬, 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬, 𝐚𝐧𝐝 𝐚𝐭𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐬 𝐭𝐡𝐚𝐭 𝐚𝐫𝐞 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐟𝐨𝐫 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐚𝐧𝐝
𝐟𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐭𝐨 𝐤𝐞𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐬𝐲𝐬𝐭𝐞𝐦𝐬.
- They provide context for business transactions and analysis.
- Employees, customers, products, financial structures, etc.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is the Most Widely Shared Class of Data in a Company? - CORRECT
ANSWER✅✅Reference Data
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Business Drivers for Establishing a Master Data Management Program - CORRECT
ANSWER✅✅• 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
,▪ Meeting organizational data requirements.
▪ Managing data quality.
▪ Managing the costs of data integration.
▪ Reducing risk.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Business Drivers for Establishing a Reference Data Management Program - CORRECT
ANSWER✅✅• 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
▪ Meet data requirements for multiple initiatives and reduce risks and costs of data integration through
consistent use of reference data.
▪ Manage the quality of reference data.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of a Reference and Data Management Program - CORRECT ANSWER✅✅• 𝐆𝐨𝐚𝐥𝐬:
▪ Ensuring the company has complete, consistent, current, authoritative master and reference data
across company processes.
▪ Enabling master and reference data to be shared across company functions and processes.
▪ Lowering the cost and reducing the complexity of data usage.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Principles of a Reference and Master Data Management Program - CORRECT
ANSWER✅✅• 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬:
▪ Shared data
▪ Ownership
▪ Quality
▪ Stewardship
▪ Controlled change
▪ Authority
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Master Data Management (MDM) - CORRECT ANSWER✅✅MDM entail controls over
master data values and identifiers that enable consistent use, across systems, of the most accurate and
timely data about essential business entities.
, 𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of Master Data Management (MDM) - CORRECT ANSWER✅✅The goals of MDM
include ensuring availability of accurate, current values while reducing risks associated with ambiguous
identifiers.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Reference Data Management (RDM) - CORRECT ANSWER✅✅RDM entails control over
defined domain values and their definitions.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Goals of Reference Data Management (RDM) - CORRECT ANSWER✅✅The goal of RDM is
to ensure the company has access to a complete set of accurate and current values for each concept
represented.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: Gartner Definition of Master Data Management (MDM) - CORRECT ANSWER✅✅"A
technology enabled disciplines in which business and IT work together to ensure the uniformity,
accuracy, consistency, and accountability of the company's official shared master data assets."
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Matching? - CORRECT ANSWER✅✅Matching is the process of identifying which
different records may relate to a single entity.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What are the Two Risks with the Matching Process? - CORRECT ANSWER✅✅• 𝐅𝐚𝐥𝐬𝐞
𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞𝐬:
▪ Two references that do not represent the same entity are linked with a single identifier, resulting in
one identifier that refers to multiple entities.
• 𝐅𝐚𝐥𝐬𝐞 𝐍𝐞𝐠𝐚𝐭𝐢𝐯𝐞𝐬:
▪ Two references represent the same entity but are not linked with a single identifier, resulting in
multiple identifiers for the same entity.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: What is Party Master Data? - CORRECT ANSWER✅✅Data that includes data about
individuals, organizations, and the roles they play in business relationships.
𝐂𝐡𝐚𝐩𝐭𝐞𝐫 𝟏𝟎: True or False: Party Master Data Creates 360 Degrees Visibility by Linking all Roles to a
Central Person - CORRECT ANSWER✅✅True
