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7 ACCA New at Strategic Professional level questions with answers and explanations.
Printable worksheet with answer key
A credit scoring model is accurate overall but declines applications from one group at a much higher rate for reasons unrelated to risk. The main issue is:
Correct answer: Bias and fairness
Models must be tested for discriminatory effects.
Explainability of a model is most important when:
Correct answer: Decisions affect individuals and must be justified
People affected by decisions have a right to understand them in many settings.
Which chart is generally best for showing a trend over time?
Correct answer: Line chart
Lines show direction and change across time periods.
When explaining uncertainty to a non-technical board, it is best to:
Correct answer: Give a range and describe the chance of outcomes in plain words
Honest communication of uncertainty supports good decisions.
A model inventory records:
Correct answer: The models in use, their owners, purpose and validation status
It supports governance and oversight of models.
Under privacy principles for data science, personal data should be:
Correct answer: Collected for a clear purpose and kept secure, using only what is necessary
Minimisation and purpose limitation are common principles.
A chart's vertical axis starts at 90 instead of 0 to make small differences look large. This is a concern about:
Correct answer: Misleading presentation
Honest scales are part of professional data storytelling.