P1SF Technology and Analytics Flashcards
What is the primary advantage of using an application firewall rather than a network firewall?
A. it is less expensive
B. it offers easier access to applications
C. It provides additional user authentication
D. It is easier to install
C. It provides additional user authentication
A network firewall protects the network as a whole, but avoids issues specific to a particular application hosted on that network.
An application firewall, providing additional defenses, typically is used as a supplement to the network firewall, resulting in incremental costs and installation issues.
An application firewall results in more difficult access to application for unauthorized users; if anything changed, authorized users probably would encounter more difficult access, rather than less. If application firewalls are used without a network firewall, application firewalls are required for each application, which tends to make them more expensive and difficult to install.
Which of the following activities would mostly be carried out in the Systems Analysis phase of the SDLC?
a. Analyzing the newly implemented information system
b. Obtaining user feedback about the new system
c. Analyzing the maintenance requirements
d. Assessment of old system and modifications required
d. Assessment of old system and modifications required
Systems Development Life Cycle is a carefully planned step-by-step process to design and implement an information system. It begins with an analysis of the present system and goes on to plan/build the new system as per the organizational requirements.
The first phase of the life cycle i.e. Systems Analysis involves assessing the erstwhile information system to see what changes and modifications are to be made in that to better suit the user and organizational requirements.
Analyzing the newly implemented information system, obtaining user feedback about the new system and analyzing the maintenance requirements are all part of system operations and maintenance phase.
Which of the following can be discovered using a data-mining process?
a. data structure
b. previously unknown information
c. artificial intelligence
d. standard query reporting
b. previously unknown information
Data Mining is essentially a tool to discover trends and anomalies in available data through a deep analysis of the database. It often helps in examining a large amount of data in order to analyze hidden and previously unknown patterns in data. This is why data mining is also known as data discovery.
System design usually includes design of
a. Data, input, and user interface
b. Data, process, and user interface
c. Input, data, and output
d. Input, process, and output
B. Data, process, and user interface
System design typically is classified into three categories: data design, process design, and user interface design. Input and output design may be considered sub-elements of user interface design.
Which of the following statements about Accounting information System is not true?
a. The primary function of an AIS is to store data
b. The final outputs of an AIS are financial statements and performance reports
c. AIS can be termed as a decision making tool for the management
d. AIS can be used both for financial as well as for non-financial data
a. The primary function of an AIS is to store data
Accounting Information is a management tool which formalizes the process of collecting, storing, and processing accounting information to produce meaningful information in the form of financial statements and performance reports in pre-determined formats.
One of the most primary functions of an AIS is to report information to help different stakeholders in making decisions.
Initially, AIS was used only for financial information but has now evolved to support non-financial information as well relating to accounting.
AIS can store financial data, however the primary purpose of AIS is not to store data.
Which of the following are true about Artificial Intelligence and Robotic Process Automation (RPA)?
a. RPA follows rules while AI adapts and learn
b. AI is a subset of RPA
c. RPA eliminates human error, but AI is still susceptible to such errors
d. RPA can help in analysis while AI is merely an accounting centric tool
a. RPA follows rule while AI adapts and learn
Artificial Intelligence involves computer systems performing complex tasks which require analysis and pattern recognition. Advanced systems of AI are being used to recognize patterns relating to speech, text, and even graphics to come up with a decision suited to the organizational needs.
When an organization needs to perform a large amount of repetitive, routine, and mechanical tasks, it can take recourse to a technology called Robotic Process Automation. RPA uses automated instructions in the form of software or bots to perform such repetitive tasks.
AI, however, is a different technology than RPA and is not its subset. Both RPA and AI eliminate human error if the programming has been airtight.
Firewalls are a common technique used by organizations to prevent cyberattacks. They often use a technique in which several layers of security are used as defenses against attacks. If one layer is breached, the next layer attempts to prevent the attack. What is concept known as?
A. Packet filtering
B. Defense-in-depth
C. Layered Encryption
D. Noded Architecture
B. Defense-in-depth
Packet filtering involves examination of a received packet to compare it with a list of malicious packets. There are no concepts like layered encryption and noded architecture involved in firewall protection.
Miners play an important role in cryptocurrency transactions. Which of the following is a function of miners?
a. Storing the transaction information
b. Authenticating the transactions
c. Deciding the value of the cryptocurrency
d. Regulation and administration of cryptocurrency
b. Authenticating the transactions
Cryptocurrency is a currency which is facilitated using the blockchain technology. It connects the consumers with the suppliers, thus eliminating the need of middlemen like banks, etc. It utilizes a network of ‘miners’ who mine the currency and authenticate the transactions.
Miners perform two critical tasks–authenticating the transactions and generation of digital currency. All transactions, after getting authenticated, are stored on public ledgers.
Further, cryptocurrency is characterized by a decentralized peer-to-peer network and is not administered by miners. Regulatory requirements are uncertain and not well-established as of now.
Control Objectives for Information and Related Technologies or COBIT is one of the most widely followed frameworks for linking business and information technology to deliver business value. What is the preferred reason for this?
a. A holistic approach focusing on security, risk management and governance
b. Lower cost of implementation
c. No other framework designed as such
d. COBIT is recommended by Institute of Internal Auditors
a. A holistic approach focusing on security, risk management and governance
Control Objectives for Information and Related Technologies or COBIT is a best practice framework to guide enterprises in managing and governing their information technology. COBIT lays down five principles to effectively build a governance and management framework. It aims at implementing effective internal controls through security, risk management and good IT governance.
Cost of implementation depends on how widely and aggressively an organization adapts the framework. COBIT is only one of the frameworks dedicated towards IT Governance. Others like ITIL also exist. Further, COBIT is not recommended as such by IIA and its adaptation depends entirely on an organization’s preference.
What is the primary objective of data security controls?
a. To establish a framework for controlling the design, security, and use of computer programs throughout an organization
b. To ensure that storage media are subject to authorization prior to access, change, or destruction
c. To formalize standards, rules, and procedures the organization’s controls are properly executed
d. To monitor the use of system software to prevent unauthorized access to system software and computer programs
b. To ensure that storage media are subject to authorization prior to access, change, or destruction
Out of the given business processes, which would not be suitable for RPA application?
a. customer order processing
b. processing insurance claims
c. assets purchases
d. credit note generation
c. assets purchases
when an organization needs to perform a large amount of repetitive, routine, and mechanical tasks, it can take recourse to a technology called Robotic Process Automation. RPA uses automated instructions in the form of software or bots to perform such repetitive tasks.
Customer order processing, processing insurance claims, and credit note generation are all routine transactions that can be handled by an RPA based application.
Which of the following statements is not true of an Enterprise Performance Management system?
a. EPM considers both financial and operational data
b. It uses tools like “What if” and Simulations
c. Historical Trends do not form part of EPM since it is forward looking and takes into account only performance metrics of the enterprise
d. EPM can be used both as a performance measuring tool as well as a communication tool
C. Historical Trends do not form part of EPM since it is forward looking and takes into account only performance metrics of the enterprise
Enterprise Performance Management system bridges the gap between plans and actions by facilitating monitoring of business performance and decisions. EPM does rely on historical trends to form benchmarks, performance metrics and compare current performance of the organization.
To enable such deep dive functions, it monitors both the financial and operational data. These data are analyzed using techniques such as “what if”, simulations, Historical Trends, Performance Indicators, among others. EPMs, while measuring and monitoring performance, can also be effectively used as a communication tool.
CCV Corporation manufactures industrial boilers and ships them to its consumers. On 6/30/Year1, the staff accountant wrongly capitalized a purchased component which is, indeed, a raw material for producing the boilers. Which of the following cycles would be affected due to this error?
a. Property, Plant & Equipment and Financing
b. Expenditure and General Ledger
c. Property, Plant & Equipment and Production
d. Property, Plant & Equipment and Expenditure
d. Property, Plant & Equipment and Expenditure
The Property, Plant & Equipment cycle is concerned with the acquisition of all capital assets within an organization which helps enable the overall business, irrespective of it being a manufacturing concern or a service provider. Expenditure Cycle, on the other hand, involves procurement of materials, receipt of services, cash payments and other related activities.
When a raw material is wrongly classified as PP&E, it inflates the PP&E cycle wrongly whereas the Expenditure cycle remains understated. Hence, the two cycles which are affected.
Financing cycle encompasses processes relating to debt and equity procurement and servicing. General Ledger cycle involves preparation of end reports and making final adjusting entries. Lastly, Production cycle is the process by which raw materials are transformed into the final product.
