CFP Quality Assurance & Improvement

Question 1

What is the PDCA cycle in CFP quality management?

Accepted Answer

Plan-Do-Check-Act: an iterative continuous improvement method

Answer

A one-time checklist

Answer

A performance rating system

Answer

A budgeting method

Question 2

What is root cause analysis in CFP quality assurance?

Accepted Answer

Investigating to find the fundamental underlying cause of a problem

Answer

Reviewing symptoms only

Answer

Counting defects

Answer

Assigning blame

Question 3

What does benchmarking mean in CFP quality improvement?

Accepted Answer

Comparing performance against recognized standards of excellence

Answer

A physical workbench marking

Answer

A software test type

Answer

An accounting standard

Question 4

What is a quality audit in CFP practice?

Accepted Answer

Evaluating whether quality standards and procedures are followed

Answer

Determining salaries

Answer

Marketing services

Answer

Revenue projection

Question 5

What is a KPI in CFP quality management?

Accepted Answer

A measurable value showing how effectively objectives are achieved

Answer

A personal opinion metric

Answer

A decorative element

Answer

A financial instrument

Question 6

What differentiates quality assurance from quality control in CFP?

Accepted Answer

QA prevents defects through processes; QC detects defects in outputs

Answer

They are the same

Answer

QC is always more important

Answer

QA is only for manufacturing