SMPS CPSM CORRECT COMPREHENSIVE
QUESTIONS AND ANSWERS SET A+
✔✔Primary Research - ✔✔Proprietary research that is conducted by the firm itself.
✔✔Qualitative Research - ✔✔Gathering an in-depth understanding of behavior and the
reasons behind it.
✔✔Quantitative Research - ✔✔Research of measurable properties and their
relationships.
✔✔Real Simple Syndication (RSS) Feeds - ✔✔Used to publish frequently updated
works in a standardized format.
✔✔Research Budget - ✔✔The amount of money from the overall budget that a firm
dedicates toward performing market research.
✔✔Research Objective - ✔✔A short statement that expresses the result you hope to
achieve through the use of information obtained through a particular research project.
✔✔Research Request Agreement - ✔✔A document that clearly states the research
problem to be addressed and other logistics.
✔✔Revenue - ✔✔Firm's overall income.
✔✔Rights Approach - ✔✔An approach to ethics where the emphasis is placed on
individual welfare rather than on the consequences of a decision.
✔✔Secondary Research - ✔✔Research that comes from a source different from the
originating source of the information.
, ✔✔Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis - ✔✔A
situational analysis tool based on assessing the strengths, weaknesses, opportunities,
and threats that a firm faces.
✔✔Tabulation - ✔✔The process of arranging data in a table using some sort of
classification.
✔✔Theme - ✔✔Topics that organize groups of repeating ideas into larger groups, tied
together by a related idea.
✔✔Trending Charts - ✔✔Types of charts that reveal patterns of change.
✔✔Utility Approach - ✔✔An approach to ethics that favors the option that will bring the
greatest net benefit to society as a whole.
✔✔Variance - ✔✔A measure of the distance between a certain number and the mean.
✔✔Wild Card - ✔✔Low-probability, high-impact events that occur so quickly that
individuals, firms, and society aren't able to respond effectively.
✔✔Z-Value - ✔✔The value on a normal bell curve associated with a confidence interval.
✔✔ Advanced Analytics - ✔✔Tools using statistical analysis and predictive modeling to
forecast future events.
✔✔Audit - ✔✔Assessing current position in terms of finances, visibility, competition, and
other measures.
✔✔Average - ✔✔Sum of a set of numbers, divided by the amount of numbers in that
set.
✔✔Benchmarking - ✔✔Benchmarking surveys create a basis for comparison. Most
often used to compare one A/E/C company to peer firms, they can also be used to
determine best practices or key trends within a specific design typology.
✔✔Bias - ✔✔Prejudice shown towards or against something based on subjective
perceptions of experiences or opinions.
✔✔Big Data - ✔✔Collection of data sets so large and complex that it becomes difficult
to process using typical database management tools or traditional data-processing
applications.
✔✔Causation - ✔✔A predictive relationship between two variables, where one causes
the other.
QUESTIONS AND ANSWERS SET A+
✔✔Primary Research - ✔✔Proprietary research that is conducted by the firm itself.
✔✔Qualitative Research - ✔✔Gathering an in-depth understanding of behavior and the
reasons behind it.
✔✔Quantitative Research - ✔✔Research of measurable properties and their
relationships.
✔✔Real Simple Syndication (RSS) Feeds - ✔✔Used to publish frequently updated
works in a standardized format.
✔✔Research Budget - ✔✔The amount of money from the overall budget that a firm
dedicates toward performing market research.
✔✔Research Objective - ✔✔A short statement that expresses the result you hope to
achieve through the use of information obtained through a particular research project.
✔✔Research Request Agreement - ✔✔A document that clearly states the research
problem to be addressed and other logistics.
✔✔Revenue - ✔✔Firm's overall income.
✔✔Rights Approach - ✔✔An approach to ethics where the emphasis is placed on
individual welfare rather than on the consequences of a decision.
✔✔Secondary Research - ✔✔Research that comes from a source different from the
originating source of the information.
, ✔✔Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis - ✔✔A
situational analysis tool based on assessing the strengths, weaknesses, opportunities,
and threats that a firm faces.
✔✔Tabulation - ✔✔The process of arranging data in a table using some sort of
classification.
✔✔Theme - ✔✔Topics that organize groups of repeating ideas into larger groups, tied
together by a related idea.
✔✔Trending Charts - ✔✔Types of charts that reveal patterns of change.
✔✔Utility Approach - ✔✔An approach to ethics that favors the option that will bring the
greatest net benefit to society as a whole.
✔✔Variance - ✔✔A measure of the distance between a certain number and the mean.
✔✔Wild Card - ✔✔Low-probability, high-impact events that occur so quickly that
individuals, firms, and society aren't able to respond effectively.
✔✔Z-Value - ✔✔The value on a normal bell curve associated with a confidence interval.
✔✔ Advanced Analytics - ✔✔Tools using statistical analysis and predictive modeling to
forecast future events.
✔✔Audit - ✔✔Assessing current position in terms of finances, visibility, competition, and
other measures.
✔✔Average - ✔✔Sum of a set of numbers, divided by the amount of numbers in that
set.
✔✔Benchmarking - ✔✔Benchmarking surveys create a basis for comparison. Most
often used to compare one A/E/C company to peer firms, they can also be used to
determine best practices or key trends within a specific design typology.
✔✔Bias - ✔✔Prejudice shown towards or against something based on subjective
perceptions of experiences or opinions.
✔✔Big Data - ✔✔Collection of data sets so large and complex that it becomes difficult
to process using typical database management tools or traditional data-processing
applications.
✔✔Causation - ✔✔A predictive relationship between two variables, where one causes
the other.
