ACE ACORD Expert Data Governance & Quality Management 2

Question 1

Which practice helps ensure ACORD XML message quality before transmission to a trading partner?

Accepted Answer

Schema validation against the published ACORD XSD

Answer

Validating an ACORD XML message against its published XML Schema Definition (XSD) catches structural and data-type errors before the message reaches the recipient.

Question 2

What is a 'data lineage' map and how does it support data quality in insurance?

Accepted Answer

A visual or documented trail showing the origin, movement, and transformation of data across systems

Answer

Data lineage documents every source, transformation, and destination of a data element, enabling insurers to trace errors to their root cause and demonstrate auditability.

Question 3

How does the ACORD Data Standards Reference Architecture (DSRA) recommend organizing data domains?

Accepted Answer

By functional subject areas such as Party, Policy, Claim, and Finance

Answer

ACORD's DSRA organizes insurance data into subject-area domains (Party, Policy, Claim, Finance, etc.) to provide clear ownership boundaries and consistent definitions.

Question 4

Which US regulation most directly drives the need for strong personal data governance practices at insurance companies?

Accepted Answer

NAIC Insurance Data Security Model Law (MDL-668)

Answer

The NAIC Insurance Data Security Model Law (MDL-668) requires insurers to implement an information security program including data governance controls to protect nonpublic information.

Question 5

What is a 'data quality scorecard' used for in an insurance data governance program?

Accepted Answer

Measuring and tracking data quality KPIs (completeness, accuracy, timeliness) over time to drive improvement

Answer

A data quality scorecard quantifies quality dimensions for key data assets, providing visibility into trends and enabling governance teams to prioritize remediation efforts.

(ACE) ACORD Certified Expert Practice Test

(ACE) ACORD Certified Expert Practice Test

ACE ACORD Expert Data Governance & Quality Management 2