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Exam Code: CFM-001

Exam Name: Certified Finance Manager (CFM)

Certification Provider: GAQM

Related Certification: Certified Finance Manager (CFM)

CFM-001 Certified Finance Manager (CFM)
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NEW QUESTION: 1
Tran Holten, a quantitative analyst with Smith, Kleen & Beetchnutty Brokerage, has just been informed of an important error in one of his recent statistical endeavors. Specifically, in one hypothesis test, Mr. Holten rejected a null hypothesis that later was proven to be true. Which of the following best describes this type of error in hypothesis testing? Further, if the confidence level of the test were increased, would the probability of this error increase, decrease, or remain unchanged?
A. Type II error; decrease
B. Type II error; increase
C. Type I error; increase
D. Type I error; remain unchanged
E. Type II error; remain unchanged
F. Type I error; decrease
Answer: F
Explanation:
Explanation/Reference:
Explanation:
In this example, Tran Holten has incorrectly rejected a null hypothesis. This type of error in hypothesis testing is called a Type I error. In hypothesis testing, the Type I error is given much more attention than the Type II error. In most hypothesis tests, the probability of a null hypothesis is equal to the significance level of the test. A significance level of 0.01, for example, indicates that a 1% chance exists that the null hypothesis will be rejected when it is indeed true. Another way to think of the probability of a Type I error is to observe the following relationship:
{Probability of a Type I error = (1 - confidence level)}.
For example, a confidence level of 95% leaves a 5% probability of a Type I error occurring. If this confidence level were to increase to say, 98%, then the probability of a Type I error would reduce to 2%.
As you can see, there is a relationship between the confidence level of a test and the probability of a Type I error. If the confidence level of the test in this example were to increase, then the probability of a Type I error would decrease.

NEW QUESTION: 2
Which maven plugin is required to install a content package on a local AEM environment using maven?
A. Maven Bundle Plugin
B. FileVault Package Maven Plugin
C. Content Package Maven Plugin
D. Maven Install Plugin
Answer: C

NEW QUESTION: 3
The CEO of a company states that the IT department has serious problems to solve:
-There have been several breaches of company confidential data over the years. -IT budgets are frequently over- or under-estimated -The IT organization might not meet regulatory compliance requirements for the several countries
in which they operate. -There is a lack of alignment of IT activities with the organization as a whole.
Which action should be taken by the board of directors and senior executives to most quickly and effectively resolve all of these issues and concerns?
A. Implement IT governance within the organization
B. Form a services governance committee
C. Perform a third-party audit of IT operations
D. Place company confidential data into security zones
Answer: A

NEW QUESTION: 4
How the order is determined in which tax codes are used?
A. Tax options from the Organizations application
B. Tax code options from the Chart of Account application
C. Tax options from the Purchase Orders application
D. Tax code options from the Tax application
Answer: A


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