ISDS 351 Exam 3 UPDATED ACTUAL
Exam Quest ions and CORRECT Answers
estimating costs - CORRECT ANSWER - Which process involves developing an
approximation of the costs of resources needed to complete a project?
revenues minus expenditures - CORRECT ANSWER - How are profits best defined?
True - CORRECT ANSWER - Estimates should become more accurate as time
progresses.
True - CORRECT ANSWER - One of the reasons why project cost estimates are
inaccurate is because human beings are biased toward underestimation.
ballpark - CORRECT ANSWER - What is a rough order of magnitude estimate also
referred to as?
identifying risks - CORRECT ANSWER - Which process involves determining what risks
are likely to affect a project and documenting the characteristics of each?
risk avoidance - CORRECT ANSWER - Which action involves eliminating a specific
threat, usually by eliminating its causes?
risk-seeking - CORRECT ANSWER - Those who are _____ have a higher tolerance for
risk, and their satisfaction increases when more payoff is at stake.
risk transference - CORRECT ANSWER - Which action involves shifting the
consequence of a risk and responsibility for its management to a third party?
, decision tree - CORRECT ANSWER - Which diagramming technique is used to help
select the best course of action in situations in which future outcomes are uncertain?
Management reserves - CORRECT ANSWER - Which reserves allow for future situations
that are unpredictable?
not directly related to the products or services of a project. - CORRECT ANSWER -
Which statement is true regarding indirect costs?
False - CORRECT ANSWER - Unknown risks can be managed proactively.
True - CORRECT ANSWER - IT project managers must be able to present and discuss
project information both in financial and technical terms.
True - CORRECT ANSWER - Risks can have both negative and positive effects on
meeting project objectives.
extract - CORRECT ANSWER - During which step of the ETL process can data that fails
to meet expected patterns or values be rejected to help clean up "dirty data"?
"Dirty data" can result in incorrect or misleading statistics used for decision making. -
CORRECT ANSWER - Why is an effective ETL process essential to data warehousing?
transform - CORRECT ANSWER - A well-designed series of rules or algorithms is a key
component of which stage of the ETL process?
True - CORRECT ANSWER - Unstructured data comes from sources such as word-
processing documents and surveillance video.
False - CORRECT ANSWER - A marketing manager who does not have deep knowledge
of information systems or data science will NOT be able to use BI and analytics tools.
Exam Quest ions and CORRECT Answers
estimating costs - CORRECT ANSWER - Which process involves developing an
approximation of the costs of resources needed to complete a project?
revenues minus expenditures - CORRECT ANSWER - How are profits best defined?
True - CORRECT ANSWER - Estimates should become more accurate as time
progresses.
True - CORRECT ANSWER - One of the reasons why project cost estimates are
inaccurate is because human beings are biased toward underestimation.
ballpark - CORRECT ANSWER - What is a rough order of magnitude estimate also
referred to as?
identifying risks - CORRECT ANSWER - Which process involves determining what risks
are likely to affect a project and documenting the characteristics of each?
risk avoidance - CORRECT ANSWER - Which action involves eliminating a specific
threat, usually by eliminating its causes?
risk-seeking - CORRECT ANSWER - Those who are _____ have a higher tolerance for
risk, and their satisfaction increases when more payoff is at stake.
risk transference - CORRECT ANSWER - Which action involves shifting the
consequence of a risk and responsibility for its management to a third party?
, decision tree - CORRECT ANSWER - Which diagramming technique is used to help
select the best course of action in situations in which future outcomes are uncertain?
Management reserves - CORRECT ANSWER - Which reserves allow for future situations
that are unpredictable?
not directly related to the products or services of a project. - CORRECT ANSWER -
Which statement is true regarding indirect costs?
False - CORRECT ANSWER - Unknown risks can be managed proactively.
True - CORRECT ANSWER - IT project managers must be able to present and discuss
project information both in financial and technical terms.
True - CORRECT ANSWER - Risks can have both negative and positive effects on
meeting project objectives.
extract - CORRECT ANSWER - During which step of the ETL process can data that fails
to meet expected patterns or values be rejected to help clean up "dirty data"?
"Dirty data" can result in incorrect or misleading statistics used for decision making. -
CORRECT ANSWER - Why is an effective ETL process essential to data warehousing?
transform - CORRECT ANSWER - A well-designed series of rules or algorithms is a key
component of which stage of the ETL process?
True - CORRECT ANSWER - Unstructured data comes from sources such as word-
processing documents and surveillance video.
False - CORRECT ANSWER - A marketing manager who does not have deep knowledge
of information systems or data science will NOT be able to use BI and analytics tools.
