IASSC ICBB Online Practice Questions and Exam Preparation

IASSC ICBB Online Questions & Answers

• Question 91:

  What dollar amount of savings would a project show if it reduced your outstanding Accounts Receivable by $1.4 million dollars to $5.3 million total and your organization's marginal cost of capital was 6.2%?

  A. $43,400
  B. $86,800
  C. $117,500
  D. $328,600
  B. $86,800

• Question 92:

  Which statement is NOT correct about the Fitted Line Plot shown here?

  

  A. The independent variable is the reactant
  B. If the reactant was 6 units, with 95 % confidence we would expect a minimum yield of 100 units
  C. With at least 95% confidence, we can expect less than 10 units of Yield when the reactant is at a value of 1
  D. A reactant value between 2 and 4 units yields around 20 to 40
  E. When the reactant increases, the expected yield would increase
  D. A reactant value between 2 and 4 units yields around 20 to 40

• Question 93:

  For the data set shown here which of these statements is/are true?

  

  A. Hypothesis Testing of Means or Medians cannot be done since there are an unequal number of observations for the 3 samples
  B. A Paired T-test would be applicable for comparing Grade B and Grade A since they follow each other in the data set
  C. Grade A has the lowest sample Mean of the 3 samples
  D. Grade A has a higher sample Mean than Grade B
  C. Grade A has the lowest sample Mean of the 3 samples

• Question 94:

  Which one of the following functions does market research data mainly deal with?

  A. Collecting data systematically and analysis of a particular target market
  B. Helping to solve the conflict between the customers and the sellers
  C. Providing training to different organizations
  D. Reducing the risk of the purchaser in the market
  D. Reducing the risk of the purchaser in the market

• Question 95:

  A Belt working in a supply chain environment has to make a decision to change suppliers of critical raw materials for a new product upgrade. The purchasing manager is depending on the Belt's effort requiring that the average cost of an internal critical raw material component be less than or equal to $4,200 in order to stay within budget. Using a sample of 35 first article components, a Mean of the new product upgrade price of $4,060, and a Standard Deviation of $98 was estimated. Select the answer that best states the Practical Problem.

  A. If the average cost per component is $4,200 or less, then the purchase manager will introduce the new product upgrade with new components.
  B. If the average cost per component is greater than $4,200, then the purchase manager will introduce the new product upgrade with new components.
  C. Only if the average cost per product upgrade is $4,060, will the purchase manager introduce new product upgrades with new components.
  D. If the average cost per new product upgrade is less than $180, then the purchase manager will introduce the new product upgrade with new components.
  C. Only if the average cost per product upgrade is $4,060, will the purchase manager introduce new product upgrades with new components.

• Question 96:

  The difference between cp and cpk represents ___________________.

  A. Natural tolerance
  B. Engineering tolerance (allowed variation)
  C. The potential gain from centering the process
  D. Process average
  C. The potential gain from centering the process

• Question 97:

  Early in a project a Belt will want to begin to identify and evaluate risk factors for the subject process and will therefore begin building a(n) ________.

  A. FMEA
  B. SIPOC
  C. X-Y Diagram
  D. Team Charter
  A. FMEA

• Question 98:

  When we compare short-term and long-term Capability which of these is true?

  A. Cp is better for the short term
  B. Both short-term and long-term performance are alike
  C. Performance tends to improve over time
  D. Cp is better for the long-term
  A. Cp is better for the short term

• Question 99:

  Which of the following is the most important aspect of `customer satisfaction' from the perspective of `Six Sigma'?

  A. Brand name
  B. Quality alone irrespective of cost
  C. Cost and quality
  D. Cost alone irrespective of quality
  C. Cost and quality

• Question 100:

  A Belt rearranged the location of the parts inventory for a rework station locating the most often used parts to be within hand reach of the repair person. This rearrangement resulted in quicker repair times by eliminating one of seven major elements of waste which is the Waste of __________.

  A. Motion
  B. Conveyance
  C. Inventory
  D. Waiting
  A. Motion