LOMA 335 exam with answers |\ |\ |\ |\
80-20 principle - CORRECT ANSWERS ✔✔A guideline which states
|\ |\ |\ |\ |\ |\ |\ |\
that 20% of the components of a situation account for 80% of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the outcomes. [10]
|\ |\
360-degree review - CORRECT ANSWERS ✔✔A method of |\ |\ |\ |\ |\ |\ |\ |\
performance evaluation in which opinions about an employee's |\ |\ |\ |\ |\ |\ |\ |\
performance are solicited from several sources, such as the |\ |\ |\ |\ |\ |\ |\ |\ |\
employee and her superiors, peers, subordinates and customers.
|\ |\ |\ |\ |\ |\ |\ |\
[3]
abandonment rate - CORRECT ANSWERS ✔✔For a contact center, |\ |\ |\ |\ |\ |\ |\ |\
the percentage of inbound telephone calls that are placed in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
queue and then terminated by the caller before the call is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
answered by a customer service representative. [12]
|\ |\ |\ |\ |\ |\
accuracy - CORRECT ANSWERS ✔✔In research, a general term for
|\ |\ |\ |\ |\ |\ |\ |\ |\
the closeness of a model to the system it represents, the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
closeness of a measured quantity to its true value, or the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
closeness of a projected outcome to the actual outcome. [6]
|\ |\ |\ |\ |\ |\ |\ |\ |\
ACORD - CORRECT ANSWERS ✔✔A standards-developing
|\ |\ |\ |\ |\ |\
organization that supports data and technology standards for
|\ |\ |\ |\ |\ |\ |\ |\
insurance and financial services worldwide. [13]
|\ |\ |\ |\ |\
,ACORD XML LAH - CORRECT ANSWERS ✔✔ACORD's proprietary
|\ |\ |\ |\ |\ |\ |\ |\
information sharing standards developed for life insurance, |\ |\ |\ |\ |\ |\ |\
annuities and non medical health insurance. [13]
|\ |\ |\ |\ |\ |\
acquiescence bias - CORRECT ANSWERS ✔✔a consistent error in |\ |\ |\ |\ |\ |\ |\ |\ |\
survey data arising from the tendency of interviewees to agree
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with the questioner. [6]
|\ |\ |\
activity - CORRECT ANSWERS ✔✔Part of a set of actions that
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accomplishes a job, problem or assignment, all of which must be |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accomplished within a specified time. [11] |\ |\ |\ |\ |\
activity analysis - CORRECT ANSWERS ✔✔A type of analysis and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a report for documenting the results of a study undertaken to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
identify how a given project activity is accomplished including the
|\ |\ |\ |\ |\ |\ |\ |\ |\
tasks constituting that activity. [14]
|\ |\ |\ |\ |\
adherence - CORRECT ANSWERS ✔✔In a contact center, the |\ |\ |\ |\ |\ |\ |\ |\ |\
degree to which customer service representatives follow the
|\ |\ |\ |\ |\ |\ |\ |\
staffing schedule developed to handle inbound customer
|\ |\ |\ |\ |\ |\ |\
contacts. [12] |\
administrative and support function - CORRECT ANSWERS ✔✔A |\ |\ |\ |\ |\ |\ |\ |\
function in which either managerial or non-managerial employees
|\ |\ |\ |\ |\ |\ |\
perform duties to support operational or production activities,
|\ |\ |\ |\ |\ |\ |\ |\ |\
but do not directly perform operational or production duties. [1]
|\ |\ |\ |\ |\ |\ |\ |\ |\
agency problem - CORRECT ANSWERS ✔✔A problem that exists
|\ |\ |\ |\ |\ |\ |\ |\ |\
when one person is paid to act on behalf of another, but the two
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
,individuals have different interests, have access to different
|\ |\ |\ |\ |\ |\ |\ |\
information about the agent's activities, and have different
|\ |\ |\ |\ |\ |\ |\ |\
incentives. [2] |\
agile management - CORRECT ANSWERS ✔✔An approach to
|\ |\ |\ |\ |\ |\ |\ |\
business effectiveness focused on finding and seizing
|\ |\ |\ |\ |\ |\ |\
opportunities to improve operations and processes. [11] |\ |\ |\ |\ |\ |\
American National Standards Institute (ANSI) - CORRECT
|\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔A private association that supports the creation of
|\ |\ |\ |\ |\ |\ |\ |\ |\
voluntary standards for companies operating in the United
|\ |\ |\ |\ |\ |\ |\ |\
States. [13] |\
antecedent - CORRECT ANSWERS ✔✔In a behavioral context, an
|\ |\ |\ |\ |\ |\ |\ |\ |\
environmental cue that prompts a person to act in a particular |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
manner. [3] |\
arithmetic average model - CORRECT ANSWERS ✔✔A model that
|\ |\ |\ |\ |\ |\ |\ |\ |\
uses the arithmetic average (the mean) of the time-series data
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
from previous periods as the forecast value for the next future
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
period. [8] |\
as-is flow chart - CORRECT ANSWERS ✔✔A type of flow chart that
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
describes how a work process is actually performed, regardless
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of how it should be performed. [11]
|\ |\ |\ |\ |\ |\
attention bias - CORRECT ANSWERS ✔✔A consistent error in
|\ |\ |\ |\ |\ |\ |\ |\ |\
research outcomes which arises because individuals who know
|\ |\ |\ |\ |\ |\ |\ |\
, they are being studied tend to perform better because of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
attention to their performance. [6] |\ |\ |\ |\
authoritarian decision process - CORRECT ANSWERS ✔✔A process |\ |\ |\ |\ |\ |\ |\
that relies on one decision maker to dictate a choice. Also known
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
as autocratic decision process or paternalistic decision process.
|\ |\ |\ |\ |\ |\ |\ |\ |\
[5]
authority - CORRECT ANSWERS ✔✔The right to direct the actions
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of others. See also power. [3]
|\ |\ |\ |\ |\
automated underwriting system - CORRECT ANSWERS ✔✔A type
|\ |\ |\ |\ |\ |\ |\ |\
of expert system that uses an expert knowledge base, decision
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
rules, and a company database to make automated underwriting
|\ |\ |\ |\ |\ |\ |\ |\ |\
decisions. See expert system [6] |\ |\ |\ |\
automatic call distributor (ACD) - CORRECT ANSWERS ✔✔A
|\ |\ |\ |\ |\ |\ |\ |\
device that, at the most basic level, receives telephone calls and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
directs them to the appropriate employee or work group. In
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
addition to routing, ACDs can perform a variety of other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
functions, such as facilitating contact center management,
|\ |\ |\ |\ |\ |\ |\
linking multiple service centers, and integrating telephones with
|\ |\ |\ |\ |\ |\ |\ |\
other communication and information technology. [12]
|\ |\ |\ |\ |\
automatic number identification (ANI) - CORRECT ANSWERS ✔✔A
|\ |\ |\ |\ |\ |\ |\ |\
technology that identifies an inbound telephone call by the
|\ |\ |\ |\ |\ |\ |\ |\ |\
caller's telephone number or some other type of personal
|\ |\ |\ |\ |\ |\ |\ |\ |\
identifier. [12] |\
80-20 principle - CORRECT ANSWERS ✔✔A guideline which states
|\ |\ |\ |\ |\ |\ |\ |\
that 20% of the components of a situation account for 80% of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the outcomes. [10]
|\ |\
360-degree review - CORRECT ANSWERS ✔✔A method of |\ |\ |\ |\ |\ |\ |\ |\
performance evaluation in which opinions about an employee's |\ |\ |\ |\ |\ |\ |\ |\
performance are solicited from several sources, such as the |\ |\ |\ |\ |\ |\ |\ |\ |\
employee and her superiors, peers, subordinates and customers.
|\ |\ |\ |\ |\ |\ |\ |\
[3]
abandonment rate - CORRECT ANSWERS ✔✔For a contact center, |\ |\ |\ |\ |\ |\ |\ |\
the percentage of inbound telephone calls that are placed in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
queue and then terminated by the caller before the call is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
answered by a customer service representative. [12]
|\ |\ |\ |\ |\ |\
accuracy - CORRECT ANSWERS ✔✔In research, a general term for
|\ |\ |\ |\ |\ |\ |\ |\ |\
the closeness of a model to the system it represents, the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
closeness of a measured quantity to its true value, or the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
closeness of a projected outcome to the actual outcome. [6]
|\ |\ |\ |\ |\ |\ |\ |\ |\
ACORD - CORRECT ANSWERS ✔✔A standards-developing
|\ |\ |\ |\ |\ |\
organization that supports data and technology standards for
|\ |\ |\ |\ |\ |\ |\ |\
insurance and financial services worldwide. [13]
|\ |\ |\ |\ |\
,ACORD XML LAH - CORRECT ANSWERS ✔✔ACORD's proprietary
|\ |\ |\ |\ |\ |\ |\ |\
information sharing standards developed for life insurance, |\ |\ |\ |\ |\ |\ |\
annuities and non medical health insurance. [13]
|\ |\ |\ |\ |\ |\
acquiescence bias - CORRECT ANSWERS ✔✔a consistent error in |\ |\ |\ |\ |\ |\ |\ |\ |\
survey data arising from the tendency of interviewees to agree
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with the questioner. [6]
|\ |\ |\
activity - CORRECT ANSWERS ✔✔Part of a set of actions that
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accomplishes a job, problem or assignment, all of which must be |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accomplished within a specified time. [11] |\ |\ |\ |\ |\
activity analysis - CORRECT ANSWERS ✔✔A type of analysis and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a report for documenting the results of a study undertaken to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
identify how a given project activity is accomplished including the
|\ |\ |\ |\ |\ |\ |\ |\ |\
tasks constituting that activity. [14]
|\ |\ |\ |\ |\
adherence - CORRECT ANSWERS ✔✔In a contact center, the |\ |\ |\ |\ |\ |\ |\ |\ |\
degree to which customer service representatives follow the
|\ |\ |\ |\ |\ |\ |\ |\
staffing schedule developed to handle inbound customer
|\ |\ |\ |\ |\ |\ |\
contacts. [12] |\
administrative and support function - CORRECT ANSWERS ✔✔A |\ |\ |\ |\ |\ |\ |\ |\
function in which either managerial or non-managerial employees
|\ |\ |\ |\ |\ |\ |\
perform duties to support operational or production activities,
|\ |\ |\ |\ |\ |\ |\ |\ |\
but do not directly perform operational or production duties. [1]
|\ |\ |\ |\ |\ |\ |\ |\ |\
agency problem - CORRECT ANSWERS ✔✔A problem that exists
|\ |\ |\ |\ |\ |\ |\ |\ |\
when one person is paid to act on behalf of another, but the two
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
,individuals have different interests, have access to different
|\ |\ |\ |\ |\ |\ |\ |\
information about the agent's activities, and have different
|\ |\ |\ |\ |\ |\ |\ |\
incentives. [2] |\
agile management - CORRECT ANSWERS ✔✔An approach to
|\ |\ |\ |\ |\ |\ |\ |\
business effectiveness focused on finding and seizing
|\ |\ |\ |\ |\ |\ |\
opportunities to improve operations and processes. [11] |\ |\ |\ |\ |\ |\
American National Standards Institute (ANSI) - CORRECT
|\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔A private association that supports the creation of
|\ |\ |\ |\ |\ |\ |\ |\ |\
voluntary standards for companies operating in the United
|\ |\ |\ |\ |\ |\ |\ |\
States. [13] |\
antecedent - CORRECT ANSWERS ✔✔In a behavioral context, an
|\ |\ |\ |\ |\ |\ |\ |\ |\
environmental cue that prompts a person to act in a particular |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
manner. [3] |\
arithmetic average model - CORRECT ANSWERS ✔✔A model that
|\ |\ |\ |\ |\ |\ |\ |\ |\
uses the arithmetic average (the mean) of the time-series data
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
from previous periods as the forecast value for the next future
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
period. [8] |\
as-is flow chart - CORRECT ANSWERS ✔✔A type of flow chart that
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
describes how a work process is actually performed, regardless
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of how it should be performed. [11]
|\ |\ |\ |\ |\ |\
attention bias - CORRECT ANSWERS ✔✔A consistent error in
|\ |\ |\ |\ |\ |\ |\ |\ |\
research outcomes which arises because individuals who know
|\ |\ |\ |\ |\ |\ |\ |\
, they are being studied tend to perform better because of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
attention to their performance. [6] |\ |\ |\ |\
authoritarian decision process - CORRECT ANSWERS ✔✔A process |\ |\ |\ |\ |\ |\ |\
that relies on one decision maker to dictate a choice. Also known
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
as autocratic decision process or paternalistic decision process.
|\ |\ |\ |\ |\ |\ |\ |\ |\
[5]
authority - CORRECT ANSWERS ✔✔The right to direct the actions
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of others. See also power. [3]
|\ |\ |\ |\ |\
automated underwriting system - CORRECT ANSWERS ✔✔A type
|\ |\ |\ |\ |\ |\ |\ |\
of expert system that uses an expert knowledge base, decision
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
rules, and a company database to make automated underwriting
|\ |\ |\ |\ |\ |\ |\ |\ |\
decisions. See expert system [6] |\ |\ |\ |\
automatic call distributor (ACD) - CORRECT ANSWERS ✔✔A
|\ |\ |\ |\ |\ |\ |\ |\
device that, at the most basic level, receives telephone calls and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
directs them to the appropriate employee or work group. In
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
addition to routing, ACDs can perform a variety of other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
functions, such as facilitating contact center management,
|\ |\ |\ |\ |\ |\ |\
linking multiple service centers, and integrating telephones with
|\ |\ |\ |\ |\ |\ |\ |\
other communication and information technology. [12]
|\ |\ |\ |\ |\
automatic number identification (ANI) - CORRECT ANSWERS ✔✔A
|\ |\ |\ |\ |\ |\ |\ |\
technology that identifies an inbound telephone call by the
|\ |\ |\ |\ |\ |\ |\ |\ |\
caller's telephone number or some other type of personal
|\ |\ |\ |\ |\ |\ |\ |\ |\
identifier. [12] |\
