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(Financial Data) Flashcards

7 cards from real CDP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. Which financial statement reports a company's revenues, expenses, and net income over a specific period?

    Answer: Income Statement

    The Income Statement (Profit & Loss Statement) summarizes revenues and expenses over a defined reporting period.

  2. In financial time-series data, what is 'survivorship bias'?

    Answer: Analyzing only companies that survived to the present, excluding failed ones

    Survivorship bias occurs when a dataset only includes entities that still exist, inflating apparent average performance.

  3. What is the purpose of a 'wash sale rule' in financial data compliance?

    Answer: Disallow a tax loss deduction if the same security is repurchased within 30 days

    The IRS wash sale rule disallows claiming a capital loss if a substantially identical security is bought within 30 days before or after the sale.

  4. Which cash flow category includes payments for acquiring property, plant, and equipment?

    Answer: Investing Activities

    Capital expenditures on long-term assets like PP&E are classified under Investing Activities in the cash flow statement.

  5. A data professional is integrating market data from multiple vendors and finds different prices for the same security at the same timestamp. What is the most likely cause?

    Answer: Different consolidation methodologies for trade and quote data across exchanges

    Securities trade on multiple exchanges with varying reporting methodologies, causing price discrepancies across market data vendors.

  6. What does EBITDA stand for and why is it commonly used in financial analysis?

    Answer: Earnings Before Interest, Taxes, Depreciation, and Amortization; used as a proxy for operating cash flow

    EBITDA removes non-cash charges and financing effects to approximate the cash earnings power of a business.

  7. In financial data governance, what is the role of a 'golden record' for security master data?

    Answer: A single authoritative version of a financial instrument's attributes reconciled from multiple sources

    A golden record consolidates and reconciles instrument attributes from multiple data vendors into one trusted, authoritative source.

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