Data Analytics for Accounting -
Midterm Set Exam Question &
Answers 2025
Which skills were not emphasized that analytic-minded
accountants should have?
Multiple Choice
A. Statistical data analysis competency
B. Classification of test approaches
C. Developed an analytics mindset
D. Data scrubbing and data preparation - CORRECT
ANSWERS ✔✔B. Classification of test approaches
In which areas were skills not emphasized for analytic-
minded accountants?
Multiple Choice
A. Descriptive data analysis
B. Data and systems analysis and design
C. Data visualization and data reporting
D. Data quality - CORRECT ANSWERS ✔✔B. Data and
systems analysis and design
The IMPACT cycle includes all except the following steps:
,Data Analytics for Accounting -
Midterm Set Exam Question &
Answers 2025
Multiple Choice
A. perform test plan.
B. master the data.
C. track outcomes.
D. visualize the data. - CORRECT ANSWERS ✔✔D.
visualize the data.
The IMPACT cycle specifically includes all except the
following steps:
Multiple Choice
A. address and refine results.
B. perform test plan.
C. communicate insights.
D. data preparation. - CORRECT ANSWERS ✔✔D.
data preparation.
Why is identifying the question such a critical first step in
the IMPACT process cycle? - CORRECT ANSWERS
✔✔Data analysis is most effective when a question is
identified that needs to be addressed. That will focus the
, Data Analytics for Accounting -
Midterm Set Exam Question &
Answers 2025
analysis on which data and which test method might be
most effective in addressing or answering the question.
To address the question "Will I receive a loan from
LendingClub?" we had available data to assess the
relationship among (1) the debt-to-income ratios and
number of rejected loans, (2) the length of employment
and number of rejected loans, and (3) the credit (or risk)
score and number of rejected loans. What additional data
would you recommend to further assess whether a loan
would be offered? Why would they be helpful? -
CORRECT ANSWERS ✔✔There are many other
potential predictors of whether the LendingClub would
pay a loan. Here are a few possibilities: What other debt
do they have? How much is their disposable income? Do
they have a clean criminal record? Have they had a loan
with LendingClub before and did they repay it? Do they
rent or own their house?
What data analytics test will predict which firms will go
bankrupt and which firms will not go bankrupt? -
CORRECT ANSWERS ✔✔Classification
Midterm Set Exam Question &
Answers 2025
Which skills were not emphasized that analytic-minded
accountants should have?
Multiple Choice
A. Statistical data analysis competency
B. Classification of test approaches
C. Developed an analytics mindset
D. Data scrubbing and data preparation - CORRECT
ANSWERS ✔✔B. Classification of test approaches
In which areas were skills not emphasized for analytic-
minded accountants?
Multiple Choice
A. Descriptive data analysis
B. Data and systems analysis and design
C. Data visualization and data reporting
D. Data quality - CORRECT ANSWERS ✔✔B. Data and
systems analysis and design
The IMPACT cycle includes all except the following steps:
,Data Analytics for Accounting -
Midterm Set Exam Question &
Answers 2025
Multiple Choice
A. perform test plan.
B. master the data.
C. track outcomes.
D. visualize the data. - CORRECT ANSWERS ✔✔D.
visualize the data.
The IMPACT cycle specifically includes all except the
following steps:
Multiple Choice
A. address and refine results.
B. perform test plan.
C. communicate insights.
D. data preparation. - CORRECT ANSWERS ✔✔D.
data preparation.
Why is identifying the question such a critical first step in
the IMPACT process cycle? - CORRECT ANSWERS
✔✔Data analysis is most effective when a question is
identified that needs to be addressed. That will focus the
, Data Analytics for Accounting -
Midterm Set Exam Question &
Answers 2025
analysis on which data and which test method might be
most effective in addressing or answering the question.
To address the question "Will I receive a loan from
LendingClub?" we had available data to assess the
relationship among (1) the debt-to-income ratios and
number of rejected loans, (2) the length of employment
and number of rejected loans, and (3) the credit (or risk)
score and number of rejected loans. What additional data
would you recommend to further assess whether a loan
would be offered? Why would they be helpful? -
CORRECT ANSWERS ✔✔There are many other
potential predictors of whether the LendingClub would
pay a loan. Here are a few possibilities: What other debt
do they have? How much is their disposable income? Do
they have a clean criminal record? Have they had a loan
with LendingClub before and did they repay it? Do they
rent or own their house?
What data analytics test will predict which firms will go
bankrupt and which firms will not go bankrupt? -
CORRECT ANSWERS ✔✔Classification
