CDS CDS Data Lifecycle Management 3

Question 1

Which lifecycle management practice helps prevent 'data hoarding' and reduces storage costs while maintaining compliance?

Accepted Answer

Applying retention schedules with automated disposition triggers

Answer

Compressing all datasets regardless of access frequency

Answer

Migrating all data to a single centralized repository

Answer

Encrypting data at rest with longer key lengths

Question 2

A CDS practitioner is defining lifecycle stages for transactional data. Which ordering correctly represents the standard data lifecycle?

Accepted Answer

Creation → Storage → Usage → Archiving → Destruction

Answer

Storage → Creation → Usage → Destruction → Archiving

Answer

Usage → Creation → Archiving → Storage → Destruction

Answer

Creation → Usage → Archiving → Storage → Destruction

Question 3

What is 'data obsolescence' in the context of lifecycle management?

Accepted Answer

Data that is no longer accurate, relevant, or useful for its original purpose

Answer

Data that has been encrypted with an outdated algorithm

Answer

Data stored in a deprecated file format

Answer

Data that exceeds the storage system's capacity limits

Question 4

Under US SEC Rule 17a-4, broker-dealers must retain electronic records in what format to ensure authenticity?

Accepted Answer

Non-rewriteable, non-erasable (WORM) format

Answer

Editable relational database format

Answer

Encrypted ZIP archives

Answer

Cloud-synced spreadsheets

Question 5

Which metric is most useful for measuring the effectiveness of a data lifecycle management program?

Accepted Answer

Percentage of data assets with defined and enforced retention policies

Answer

Average query response time

Answer

Number of databases in production

Answer

Total storage capacity available

Question 6

What role does a data steward play in the end-of-life stage of the data lifecycle?

Accepted Answer

Ensuring data is disposed of per retention schedules, legal holds, and disposal procedures

Answer

Designing the database schema for the replacement system

Answer

Rebuilding the dataset from raw source logs

Answer

Encrypting the data before transfer to a new owner