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I. Alternate Test. Write True If The Statement Is Correct and False If Otherwise

This document appears to be a test covering topics related to engagement planning, risk assessment, decision making under uncertainty, and MAS evaluation. It contains multiple choice and fill-in-the-blank questions testing knowledge of key phases, approaches, reviews, and fact-gathering techniques.

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Iryne Kim Palatan
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39 views2 pages

I. Alternate Test. Write True If The Statement Is Correct and False If Otherwise

This document appears to be a test covering topics related to engagement planning, risk assessment, decision making under uncertainty, and MAS evaluation. It contains multiple choice and fill-in-the-blank questions testing knowledge of key phases, approaches, reviews, and fact-gathering techniques.

Uploaded by

Iryne Kim Palatan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Name: _________________

Date: __________________ Score: _________

I. Alternate Test. Write True if the statement is correct and False if otherwise.
(e.g. True, False)
2 points or 0 per item
1. Q1.Engagement planning is the stage whereby the client decides whether or
not he wishes to engage the CPA and CPA determines whether or not he can
accept that assignment. False
Q2. A detailed work plan is developed after the proposal is accepted which will
serve as the blueprint of the remainder of the project. True
2. Q1. Evaluating the proposal requires checking if the proposal letter recognizes
all requirements of firm policy in establishing the engagement. True
Q2. The 3rd and 4th phases of the solution development are Choice of preferred
solution alternative and detailed development of the selected solution,
respectively. True
3. Q1. In an uncertainty environment, there is only one event and therefore there
is only a single outcome for each action. False
Q2. Maximax approach reflects an optimistic attitude of accepting a high
degree of risk in order to minimize the return. False
4. Q1. Among the approaches in a risk environment, the decision tree approach
is an approach that is suitable to problem situations in which series of sequential
decisions must be made. True
Q2. Monte Carlo Simulation approach is used in complex situations where
analytical methods can be applied. False
5. Q1. Evaluation of MAS engagements is not necessary if constant improvement
and refinement in the quality of future advisory services is to be achieved. False
Q2. The CPA cannot exercise absolute administrative control of the client
personnel since he is not a member of their organization. True
II. Identification. Identify what is being asked.
1. This is an approach which consists of a search among the alternative solutions
for any solution that acceptably satisfies desired performance criteria. Satisficing
approach
2. An approach which involves the application of the equal probabilities to the
outcome associated with the respective states of nature and choosing the
alternative solution having the highest expected payoff. Rationality Approach
3. It is a review which identifies the potential improvements to the implemented
system and estimate the effort required to implement these improvements.
Future performance review
4. It is a written documentation of the evaluation that should be prepared and
presented to the management. Report
5. It is a fact-gathering techniques that provides a pictorial representation of a
dimension of the client’s organization or of its activities. Charting
III. Enumeration
1-3. Enumerate at least 3 activities involved in the implementation phase.
4-5. Enumerate at least 2 areas of consideration by which each alternative
solution may be analysed.

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