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BZ440 Exam 8 SCORE 90 PERCENT

Lesson 8 Exam
   
Question 1
The most common inhibitor of SPC is:
Question options:
  
   
a) 

inadequate training.
 
   
b) 

lack of resources resulting from     the absence of management commitment.
 
   
c) 

failure to have processes under     control.
 
   
d) 

low production rates.
 
Question 2
The origin of what is now called ________ dates back to a book written by Dr. Walter Shewhart in 1931.
Question options:
  
   
a) 

quality engineering
 
   
b) 

compliance management
 
   
c) 

statistical process control
 
   
d) 

QFD
 
Question 3
In the language of scientific decision making, ________is/are introduced when improvements are not based on the scientific approach.
Question options:
  
   
a) 

complexity
 
   
b) 

variation
 
   
c) 

inefficiency
 
   
d) 

None of the above
 
Question 4
Re-engineering is an appropriate replacement for benchmarking when:
Question options:
  
   
a) 

tour process is fairly strong     relative to best-in-class.
 
   
b) 

the best-in-class is not in your     industry.
 
   
c) 

your process is not in     statistical control, i.e., is unstable.
 
   
d) 

best-in-class is unwilling to     cooperate.
 
Question 5
The rationale for western manufacturers to embrace SPC is:
Question options:
  
   
a) 

to improve product quality and     simultaneously reduce costs.
 
   
b) 

to be able to compete better     with Japan and the world’s markets.
 
   
c) 

to improve their product image.
 
   
d) 

All of the above
 
Question 6
The __________ phase of DMAIC focuses on why defects, errors, or excessive variation occurs.
Question options:
  
   
a) 

Define
 
   
b) 

Measure
 
   
c) 

Analyze
 
   
d) 

Control
 
Question 7
When benchmarking, it is not enough to understand the processes; they must be completely:
Question options:
  
   
a) 

analyzed.
 
   
b) 

tested.
 
   
c) 

documented.
 
   
d) 

integrated.
 
Question 8
One of the roles of management in benchmarking is:
Question options:
  
   
a) 

establishing relationships.
 
   
b) 

disclosure.
 
   
c) 

data collection.
 
   
d) 

action planning.
 
Question 9
Which of the following is NOT a measure in TOC?
Question options:
  
   
a) 

Establishing the goal
 
   
b) 

Making the investment
 
   
c) 

Operating expenses
 
   
d) 

Throughput
 
Question 10
Six Sigma can only be achieved through:
Question options:
  
   
a) 

hiring new staff.
 
   
b) 

process improvement.
 
   
c) 

creating a new mission     statement.
 
   
d) 

cutting costs.
 
Question 11
The __________ is used to chart the number of defects in samples of varying size as a percentage or fraction. Example: anywhere defects can be counted.
Question options:
  
   
a) 

p-chart
 
   
b) 

np-chart
 
   
c) 

c-chart
 
   
d) 

u-chart
 
Question 12
Which of the following behaviors best describe the concept of benchmarking?
Question options:
  
   
a) 

Unethical
 
   
b) 

Illegal
 
   
c) 

Industrial espionage
 
   
d) 

None of the above
 
Question 13
One of the three phases of benchmarking is:
Question options:
  
   
a) 

conclusion.
 
   
b) 

post-execution.
 
   
c) 

reporting.
 
   
d) 

modification.
 
Question 14
In which phase of the DMAIC process might FMEA be used?
Question options:
  
   
a) 

Define
 
   
b) 

Measure
 
   
c) 

Analyze
 
   
d) 

Control
 
Question 15
Several benchmarking considerations require management’s approval before the process can start: commitment to change, funding, personnel, disclosure, and:
Question options:
  
   
a) 

oversight.
 
   
b) 

Direction.
 
   
c) 

involvement.
 
   
d) 

Direct supervision.
 
Question 16
Six Sigma process performance:
Question options:
  
   
a) 

represents a major advance in     capability over the typical.
 
   
b) 

has yet to be achieved in actual     practice.
 
   
c) 

predicts 1 nonconformance in 500     million opportunities.
 
   
d) 

is useful only in large scale     manufacturing.
 
Question 17
The JIT/LEAN/Lean “pull” system ensures that:
Question options:
  
   
a) 

costs are minimized through     “economy of scale.”
 
   
b) 

the production line will never     stop because of a problem.
 
   
c) 

buffer stocks are on hand to     prevent line stoppage when a critical machine fails.
 
   
d) 

the internal supplier process     does not build product unless told to do so by the internal customer     process.
 
Question 18
To continually improve a process, all people involved in its operation must be using the same:
Question options:
  
   
a) 

documentation methods.
 
   
b) 

analysis techniques.
 
   
c) 

problem-solving tools.
 
   
d) 

procedures.
 
Question 19
Lean is based on the manufacturing system that was developed by:
Question options:
  
   
a) 

Motorola.
 
   
b) 

Toyota.
 
   
c) 

Goldratt.
 
   
d) 

IBM.
 
Question 20
_________ approaches improvement projects in three successive phases, applying TOC, Lean, and then Six Sigma tools.
Question options:
  
   
a) 

The iTLS model
 
   
b) 

Kaizen
 
   
c) 

CEDAC
 
   
d) 

SIPOC

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Competency

Derivative Instruments.

Appraise the uses of derivative instruments to construct practical applications for investors.

Instructions

Wealth investment brokers

You have just completed your second training for the new class of interns at your employer, Bank of Wealth Investment Brokers. You have now been asked to create a memo to a prospective client about the strategies used with derivative instruments.

You will need to develop a memo that distinguishes the forms of derivatives. A memo will provide brief and clear information on the required subject. Often, short phrases and paragraphs are used in a memo; however, since the client will expect to know and understand the material thoroughly from your memo, it should be more detailed and offer supporting evidence, including a reference list.

1. The memo should give the interns enough information to understand the similarities and differences between the various forms of derivatives. Be sure to use audience-specific language and tone in the memo. Remember, you are writing this memo for the client; however, the Portfolio Manager may read it.
2. Be creative, and make your memo fun, yet still clearly organized. In addition, you can use this link for help on writing memo.