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7 ACCA New at Strategic Professional level questions with answers and explanations.
Printable worksheet with answer key
In a data science project, the first stage of CRISP-ML is:
Correct answer: Business and data understanding
The project starts by defining the problem and checking whether suitable data exists.
Which statement describes a well-scoped data science problem?
Correct answer: It states a specific decision, a measure of success and the data available
A well-scoped problem links to value and can be measured.
A data quality audit would check completeness, accuracy, consistency and:
Correct answer: Timeliness and validity
These are standard dimensions of data quality, and uniqueness is also commonly tested.
A model is built on five years of customer data collected only from branch customers, and will be used for online customers. The main concern is:
Correct answer: The data may not be representative
Models perform poorly when training data differs from the population to which it is applied.
A deployed model's accuracy falls over time because customer behaviour has changed. This is called:
Correct answer: Model drift
Models need monitoring and maintenance after deployment.
Early stakeholder engagement in a data science project is important mainly because it:
Correct answer: Ensures that the work addresses a real need and increases the chance the result is used
Poor engagement leads to models that are never adopted.
Which of these is a data preparation task?
Correct answer: Handling missing values and encoding categories
Preparation makes the data suitable for modelling.