LOMA 335 EXAMINATION TEST 2025/2026 QUESTIONS
AND SOLUTIONS RANKED A+
✔✔industry sector - ✔✔A part of an industry comprised of organizations carrying out a
similar function within the broader industry. [1]
✔✔industry structure - ✔✔A structure representing the nature of the competitive
relationships among the various companies in an industry. [2]
✔✔inferential statistics - ✔✔Measures that describe the characteristics of a known
sample population in an effort to describe the complete population underlying the
sample. Also known as sampling statistics. [9]
✔✔influence - ✔✔In a leadership context, any attempt to direct the behavior of
followers. [3]
✔✔influence tactics - ✔✔Ways that individuals translate influence into specific actions.
Also known as power tactics. [3]
✔✔informal group - ✔✔A collection of people who come together primarily for social
reasons, such as friendship. Contrast with formal group. [4]
✔✔informal mentoring - ✔✔A mentoring arrangement that develops outside of official
channels. [3]
✔✔ingratiating tactics - ✔✔a type of influence tactic in which one person uses flattery,
praise, or humbling behavior in order to get another person to do what the first person
wants. [3]
✔✔initiation phase - ✔✔The project life-cycle phase of documenting and evaluating a
proposed project before there is any commitment even to further explore the project.
[14]
✔✔innovation strategy - ✔✔A growth strategy of successfully replacing an industry's
present model for value creation with a groundbreaking improvement in products or
operations that competitors cannot readily adopt. [2]
✔✔inspirational appeals - ✔✔A type of influence tactic in which one person targets
another person's emotions, values, or ideals in order to gain support of a position. [3]
✔✔Institute of Chartered Financial Analysts - ✔✔A private, professional standards
organization that maintains a professional code of conduct for Chartered Financial
Analysts and a widely adopted set of standards for measuring and reporting investment
performance. [13]
,✔✔insufficient reason criterion - ✔✔In a decision model, a decision rule that requires
the decision maker to select the option with the best payoff. [7]
✔✔insurance industry - ✔✔An industry consisting of companies that provide services to
protect and grow financial assets. [1]
✔✔intelligent call routing (ICR) - ✔✔Any automated process of analyzing and directing
inbound telephone calls; ICR uses information about eh caller, the call, or employees to
determine which employees or work groups will receive which calls and when. [12]
✔✔interactive voice response (IVR) system - ✔✔A computer-based technology that
answers telephone calls, greets callers with a recorded or digitized message, and
prompts them to enter information or make requests by voice or telephone keypad; also
known as a voice response unit (VRU). [12]
✔✔intermittent reinforcement - ✔✔In behavior modification, the process of encouraging
some, rather than all, instances of a specific behavior, or of discouraging some, rather
than all, instances of a specific behavior. [3]
✔✔internal control - ✔✔An organizational function devoted to verifying that
organizational standards, procedures, and other controls are applied as intended and
are effective. [13]
✔✔Internal Revenue Service (IRS) - ✔✔An agency of the US Department of the
Treasury, which is responsible for collecting income taxes from individuals and
businesses. [13]
✔✔International Accounting Standards Board (IASB) - ✔✔A private organization with
the mission of developing and publishing, in the public interest, a single set of global
accounting standards. [13]
✔✔International Association of Insurance supervisors (IAIS) - ✔✔An association
comprised of the vast majority of insurance regulators and supervisors from around the
world. [13]
✔✔International Financial Reporting Standards (IFRS) - ✔✔A single set of global
accounting standards that are intended to apply without regard to national boundaries.
[13]
✔✔intervening variable - ✔✔In modeling for research, a factor that cannot be measured
directly, although its presence and effects can be inferred from observation of
independent and moderating variables. [6]
, ✔✔intervention bias - ✔✔A systematic error in the implementation of research arising
from differences in the application of research methodologies within a research study.
Also known as proficiency bias. [6]
✔✔intrinsic motivation - ✔✔A force that causes an individual to initiate an activity for its
own sake, because it is interesting and satisfying. Contrast with extrinsic motivation. [4]
✔✔intrinsic rewards - ✔✔Positive outcomes that are self-granted and internally
experienced. Contrast with extrinsic rewards. [4]
✔✔ISO - ✔✔The preeminent global standards-setting organization. [13]
✔✔job design - ✔✔The way i which the elements of a job are organized. [4]
✔✔job enlargement - ✔✔A type of job redesign that involves creating a single new job
by combining two or more specialized tasks in a given work flow. [4]
✔✔job enrichment - ✔✔An approach to revising a given job design by increasing the
degree to which a worker controls the planning, execution, and evaluation of the work.
[4]
✔✔job rotation - ✔✔A job assignment practice that consists of periodically shifting an
employee from one task to another task with similar skill requirements. [4]
✔✔just-in-time (JIT) approach - ✔✔An approach for managing supply chains and
finished goods inventory which uses precise forecasting to eliminate the wastes that
otherwise arise from waiting for deliveries and storing inventories. [11]
✔✔kaizen - ✔✔In business, a gradual and continuous approach to business process
improvement using feedback from the workers who use the processes. historically, a
Japanese way-of-life philosophy which holds that every aspect of a life should
continually undergo improvement. [11]
✔✔key performance indicators (KPI) - ✔✔A measure of a key operational outcome
reported to the company's executive-level managers as an essential indication of the
company's performance relative to a strategic goal. [11]
✔✔key process - ✔✔One of several operational processes which has been identified by
company executives as being critical to meeting customers' needs, achieving or
maintaining the company's competitive position, or implementing the corporate plan.
[11]
AND SOLUTIONS RANKED A+
✔✔industry sector - ✔✔A part of an industry comprised of organizations carrying out a
similar function within the broader industry. [1]
✔✔industry structure - ✔✔A structure representing the nature of the competitive
relationships among the various companies in an industry. [2]
✔✔inferential statistics - ✔✔Measures that describe the characteristics of a known
sample population in an effort to describe the complete population underlying the
sample. Also known as sampling statistics. [9]
✔✔influence - ✔✔In a leadership context, any attempt to direct the behavior of
followers. [3]
✔✔influence tactics - ✔✔Ways that individuals translate influence into specific actions.
Also known as power tactics. [3]
✔✔informal group - ✔✔A collection of people who come together primarily for social
reasons, such as friendship. Contrast with formal group. [4]
✔✔informal mentoring - ✔✔A mentoring arrangement that develops outside of official
channels. [3]
✔✔ingratiating tactics - ✔✔a type of influence tactic in which one person uses flattery,
praise, or humbling behavior in order to get another person to do what the first person
wants. [3]
✔✔initiation phase - ✔✔The project life-cycle phase of documenting and evaluating a
proposed project before there is any commitment even to further explore the project.
[14]
✔✔innovation strategy - ✔✔A growth strategy of successfully replacing an industry's
present model for value creation with a groundbreaking improvement in products or
operations that competitors cannot readily adopt. [2]
✔✔inspirational appeals - ✔✔A type of influence tactic in which one person targets
another person's emotions, values, or ideals in order to gain support of a position. [3]
✔✔Institute of Chartered Financial Analysts - ✔✔A private, professional standards
organization that maintains a professional code of conduct for Chartered Financial
Analysts and a widely adopted set of standards for measuring and reporting investment
performance. [13]
,✔✔insufficient reason criterion - ✔✔In a decision model, a decision rule that requires
the decision maker to select the option with the best payoff. [7]
✔✔insurance industry - ✔✔An industry consisting of companies that provide services to
protect and grow financial assets. [1]
✔✔intelligent call routing (ICR) - ✔✔Any automated process of analyzing and directing
inbound telephone calls; ICR uses information about eh caller, the call, or employees to
determine which employees or work groups will receive which calls and when. [12]
✔✔interactive voice response (IVR) system - ✔✔A computer-based technology that
answers telephone calls, greets callers with a recorded or digitized message, and
prompts them to enter information or make requests by voice or telephone keypad; also
known as a voice response unit (VRU). [12]
✔✔intermittent reinforcement - ✔✔In behavior modification, the process of encouraging
some, rather than all, instances of a specific behavior, or of discouraging some, rather
than all, instances of a specific behavior. [3]
✔✔internal control - ✔✔An organizational function devoted to verifying that
organizational standards, procedures, and other controls are applied as intended and
are effective. [13]
✔✔Internal Revenue Service (IRS) - ✔✔An agency of the US Department of the
Treasury, which is responsible for collecting income taxes from individuals and
businesses. [13]
✔✔International Accounting Standards Board (IASB) - ✔✔A private organization with
the mission of developing and publishing, in the public interest, a single set of global
accounting standards. [13]
✔✔International Association of Insurance supervisors (IAIS) - ✔✔An association
comprised of the vast majority of insurance regulators and supervisors from around the
world. [13]
✔✔International Financial Reporting Standards (IFRS) - ✔✔A single set of global
accounting standards that are intended to apply without regard to national boundaries.
[13]
✔✔intervening variable - ✔✔In modeling for research, a factor that cannot be measured
directly, although its presence and effects can be inferred from observation of
independent and moderating variables. [6]
, ✔✔intervention bias - ✔✔A systematic error in the implementation of research arising
from differences in the application of research methodologies within a research study.
Also known as proficiency bias. [6]
✔✔intrinsic motivation - ✔✔A force that causes an individual to initiate an activity for its
own sake, because it is interesting and satisfying. Contrast with extrinsic motivation. [4]
✔✔intrinsic rewards - ✔✔Positive outcomes that are self-granted and internally
experienced. Contrast with extrinsic rewards. [4]
✔✔ISO - ✔✔The preeminent global standards-setting organization. [13]
✔✔job design - ✔✔The way i which the elements of a job are organized. [4]
✔✔job enlargement - ✔✔A type of job redesign that involves creating a single new job
by combining two or more specialized tasks in a given work flow. [4]
✔✔job enrichment - ✔✔An approach to revising a given job design by increasing the
degree to which a worker controls the planning, execution, and evaluation of the work.
[4]
✔✔job rotation - ✔✔A job assignment practice that consists of periodically shifting an
employee from one task to another task with similar skill requirements. [4]
✔✔just-in-time (JIT) approach - ✔✔An approach for managing supply chains and
finished goods inventory which uses precise forecasting to eliminate the wastes that
otherwise arise from waiting for deliveries and storing inventories. [11]
✔✔kaizen - ✔✔In business, a gradual and continuous approach to business process
improvement using feedback from the workers who use the processes. historically, a
Japanese way-of-life philosophy which holds that every aspect of a life should
continually undergo improvement. [11]
✔✔key performance indicators (KPI) - ✔✔A measure of a key operational outcome
reported to the company's executive-level managers as an essential indication of the
company's performance relative to a strategic goal. [11]
✔✔key process - ✔✔One of several operational processes which has been identified by
company executives as being critical to meeting customers' needs, achieving or
maintaining the company's competitive position, or implementing the corporate plan.
[11]
