CAP Risk Management & Mitigation 3

Question 1

A retail analytics model was trained on pre-pandemic sales data and now performs poorly. Which risk does this scenario primarily illustrate?

Accepted Answer

Data or concept drift invalidating model assumptions

Answer

When the underlying data-generating process changes, drift causes model performance to degrade because training assumptions no longer hold.

Question 2

Which control is most effective for mitigating the risk of unauthorized access to sensitive data during an analytics project?

Accepted Answer

Role-based access controls combined with data encryption

Answer

Role-based access and encryption limit exposure of sensitive data to only authorized users, both at rest and in transit.

Question 3

Expected monetary value (EMV) analysis quantifies a risk by multiplying which two quantities?

Accepted Answer

The probability of the risk event and its monetary impact

Answer

EMV equals the probability of an event times its financial consequence, giving a quantitative expected cost or benefit.

Question 4

An analytics team builds a simpler backup model in case the primary machine learning model fails validation before a hard deadline. This is best described as what?

Accepted Answer

A contingency plan for an identified project risk

Answer

A contingency plan is a predefined fallback that activates if an identified risk materializes.

Question 5

Which of the following is a secondary risk introduced by a mitigation action?

Accepted Answer

Outsourcing data cleaning to reduce schedule risk, which creates new vendor-confidentiality risk

Answer

A secondary risk arises directly from implementing a risk response, such as new confidentiality exposure created by outsourcing.

(CAP) Certified Analytics Professional Practice Test

(CAP) Certified Analytics Professional Practice Test

CAP Risk Management & Mitigation 3