ICAS_DS1 EXAM QUESTIONS |
GUARANTEED ACCURATE ANSWERS |
LATEST VERSION 2025\26 |ACTUAL |
COMPREHENSIVE STUDY NOTES
Henry, a data scientist, is discovering many data quality issues in his
predictive analytic modeling project. He has most recently run reports
and analyses of a more routine actuarial nature. Which one of the
following best explains why he is finding more quality issues in his
current project?
A. The role of data manager has not reached the recognition needed to
ensure quality data for predictive modeling projects.
B. Fewer data fields are used in predictive modeling which may not
align the data used in the analysis.
C. More data fields are used in predictive modeling, and some may have
more quality issues than ones used in more routine analysis.
D. Fewer resources are available for maintaining quality data in
predictive modeling projects because of poor financial growth. -
ACCURATE ANSWERS✔✔ C. More data fields are used in predictive
modeling, and some may have more quality issues than ones used in
more routine analysis.
,Henry may be finding more quality issues in his current project because
more data fields are used in predictive modeling, and some may have
more quality issues than ones used in more routine analysis.
Data quality
A. Allows actuaries to focus more on issues that maximize profits.
B. Is almost always compromised because of clerical errors.
C. Has one definition that is applicable to all its various users.
D. Has not been highlighted to the point of establishing data managers. -
ACCURATE ANSWERS✔✔ A. Allows actuaries to focus more on
issues that maximize profits.
The General Insurance Research Organization (GIRO) Data Quality
Working Party
A. Reported that data quality issues affect insurers' performance.
B. Studied data quality issues only as they affect actuaries.
C. Found little connection between data quality and profitability.
D. Noted that data quality did not affect the reliability of financial
statements. - ACCURATE ANSWERS✔✔ A. Reported that data quality
issues affect insurers' performance.
,Which one of the following is true regarding data quality and an
insurer's financial results?
A. Improving data quality could free up actuarial resources for more
value-producing assignments.
B. Data errors exist but rarely reach the point of directly affecting an
insurer's financial statement.
C. Actuaries report that even though they spend over half their time on
data quality issues, errors still cause financial problems.
D. More than half of projects undertaken by actuaries are adversely
affected by data quality issues. - ACCURATE ANSWERS✔✔ A.
Improving data quality could free up actuarial resources for more value-
producing assignments.
Which one of the following is true regarding data quality?
A. Capturing enough data to generate statistically significant results
generally leads to quality data.
B. The "fitness" of data is an unchangeable standard regardless of its end
users.
C. Having quality and accurate data from the start assures it will remain
in that condition.
D. Fair and accurate insurance rates are unrelated to the quality of the
data used in their development. - ACCURATE ANSWERS✔✔ A.
Capturing enough data to generate statistically significant results
generally leads to quality data.
, Which one of the following best describes a data quality advocate?
A. A person who manages the quality of data for his or her organization
but not for external suppliers.
B. An analyst who no longer needs to screen data for problems.
C. Actuarial teams that spend one-quarter of their efforts on data quality
issues.
D. An actuary or a modeler who is familiar with data quality literature or
course material. - ACCURATE ANSWERS✔✔ D. An actuary or a
modeler who is familiar with data quality literature or course material.
Which one of the following categories of data quality measures how
well data represents true values and the business information being
analyzed?
A. Timeliness
B. Accuracy
C. Validity
D. Reasonability - ACCURATE ANSWERS✔✔ B. Accuracy
Which one of the following steps undertaken by an analyst during a data
review can be particularly helpful in detecting data anomalies?
GUARANTEED ACCURATE ANSWERS |
LATEST VERSION 2025\26 |ACTUAL |
COMPREHENSIVE STUDY NOTES
Henry, a data scientist, is discovering many data quality issues in his
predictive analytic modeling project. He has most recently run reports
and analyses of a more routine actuarial nature. Which one of the
following best explains why he is finding more quality issues in his
current project?
A. The role of data manager has not reached the recognition needed to
ensure quality data for predictive modeling projects.
B. Fewer data fields are used in predictive modeling which may not
align the data used in the analysis.
C. More data fields are used in predictive modeling, and some may have
more quality issues than ones used in more routine analysis.
D. Fewer resources are available for maintaining quality data in
predictive modeling projects because of poor financial growth. -
ACCURATE ANSWERS✔✔ C. More data fields are used in predictive
modeling, and some may have more quality issues than ones used in
more routine analysis.
,Henry may be finding more quality issues in his current project because
more data fields are used in predictive modeling, and some may have
more quality issues than ones used in more routine analysis.
Data quality
A. Allows actuaries to focus more on issues that maximize profits.
B. Is almost always compromised because of clerical errors.
C. Has one definition that is applicable to all its various users.
D. Has not been highlighted to the point of establishing data managers. -
ACCURATE ANSWERS✔✔ A. Allows actuaries to focus more on
issues that maximize profits.
The General Insurance Research Organization (GIRO) Data Quality
Working Party
A. Reported that data quality issues affect insurers' performance.
B. Studied data quality issues only as they affect actuaries.
C. Found little connection between data quality and profitability.
D. Noted that data quality did not affect the reliability of financial
statements. - ACCURATE ANSWERS✔✔ A. Reported that data quality
issues affect insurers' performance.
,Which one of the following is true regarding data quality and an
insurer's financial results?
A. Improving data quality could free up actuarial resources for more
value-producing assignments.
B. Data errors exist but rarely reach the point of directly affecting an
insurer's financial statement.
C. Actuaries report that even though they spend over half their time on
data quality issues, errors still cause financial problems.
D. More than half of projects undertaken by actuaries are adversely
affected by data quality issues. - ACCURATE ANSWERS✔✔ A.
Improving data quality could free up actuarial resources for more value-
producing assignments.
Which one of the following is true regarding data quality?
A. Capturing enough data to generate statistically significant results
generally leads to quality data.
B. The "fitness" of data is an unchangeable standard regardless of its end
users.
C. Having quality and accurate data from the start assures it will remain
in that condition.
D. Fair and accurate insurance rates are unrelated to the quality of the
data used in their development. - ACCURATE ANSWERS✔✔ A.
Capturing enough data to generate statistically significant results
generally leads to quality data.
, Which one of the following best describes a data quality advocate?
A. A person who manages the quality of data for his or her organization
but not for external suppliers.
B. An analyst who no longer needs to screen data for problems.
C. Actuarial teams that spend one-quarter of their efforts on data quality
issues.
D. An actuary or a modeler who is familiar with data quality literature or
course material. - ACCURATE ANSWERS✔✔ D. An actuary or a
modeler who is familiar with data quality literature or course material.
Which one of the following categories of data quality measures how
well data represents true values and the business information being
analyzed?
A. Timeliness
B. Accuracy
C. Validity
D. Reasonability - ACCURATE ANSWERS✔✔ B. Accuracy
Which one of the following steps undertaken by an analyst during a data
review can be particularly helpful in detecting data anomalies?
