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Reference And Master Data Management Exam

Last Update Jul 19, 2024
Total Questions : 100 With Methodical Explanation

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Reference And Master Data Management Exam Questions and Answers

Questions 1

Can Reference data be used for financial trading?

Options:

A.

No because customer data is not considered reference data

B.

No. reference data is static, financial data trading is dynamic

C.

No. since financial trades change every second they cannot use reference data

D.

Yes. but only less than 1096 can be used

E.

Yes. an estimated 70% of data being used in financial transactions is reference data

Questions 2

Which of the following is NOT an example of Master Data?

Options:

A.

A categorization of products

B.

A list of account codes

C.

Planned control activities

D.

A list of country codes

E.

Currency codes

Questions 3

Managing master data elements can be performed at which of the following points?

Options:

A.

Third-party Provider (e.g. D&B)

B.

Enterprise

C.

Application Suite (e.g. ERP)

D.

All Answers are correct