Computer Fundamentals for Business - Concept Assessment 2 Study guide
If you receive $1,000 15 years from now, what is the PV of that $100 if you use a 7% interest or discount rate?
$362.45
Michelle runs a shop on Etsy. One month, she spends $2,800 to promote her shop on Etsy and other social media sites. In that month, she gains 50 new customers. What is her customer acquisition cost for that month?
$56
If you receive $100 five years from now, what is the PV of that $100 if you use a 6% interest or discount rate?
$74.73
A doctor in a small, private practice is looking for a safe way to share and receive patient information with other doctors his patients go to for care. She wants to make sure that any system she uses guarantees her patients privacy and abides by all local, state, and federal regulations (including HIPPA). Her tech adviser recommends a system that uses blockchain. Why would this be a good system for this type of information?
(WRONG ANSWER): Because blockchain can be used for quality assurance purposes, using it in healthcare would ensure that no mistakes were made when treating patients. Guess - In blockchain, a secure connection is created between computers accessing information. This would prevent unauthorized people from accessing any sensitive data.
What is the term for a CRM that tracks the type of sale that is most likely to make a person purchase an item that they have previously viewed on an e-commerce site?
(WRONG ANSWER): Product Development Guess - User Experience
Cybersecurity threat mitigation is best defined as the policies, procedures, and tools that help an organization
(WRONG ANSWER): keep its IT assets and other proprietary information confidential and protected from ransomware.
What does the General Data Protection Regulation (GDPR) strive to achieve?
(WRONG ANSWER): to ensure U.S. companies protect the privacy and personal data of U.S. citizens
Malicious bots are cybersecurity risks because they
(WRONG ANSWER): ultimately destroy an individual computer's hard drive.
What is a key difference between business-to-government (B2G) transactions and other types of e-commerce?
B2G transactions involve prenegotiated contracts.
How does each additional block added to the blockchain strengthen the integrity of the entire chain?
Because each block contains information on recording time and sequence for both its transaction and the transaction immediately preceding it, with more blocks there is more transaction history information, making it difficult to falsify.
Which of the following is the clearest definition of a computer virus?
Code-created malware that, when executed, damages programs and performance.
How does the cybersecurity goal of preserving data integrity relate to the goal of authenticating users?
Data integrity is more easily preserved if users must be authorized to access data and make changes.
What is the primary reason that businesses use CRM systems to help them identify MQLs and SQLs during the customer acquisition process?
Different engagement is needed to turn each type of lead into a customer.
What is the correct term for the small computer within a smartphone that analyzes the sounds entering your phone through the analog/digital converter?
Digital Signal Processor (DSP)
The abbreviation for Future Value is (___).
FV
Excel functions can be found under which tab?
Formulas
Positive and negative numbers/values will impact the __________ Value (FV) calculation.
Future
Negative numbers are shown with which sign in front of the number?
Minus sign (−)
The abbreviation for Net Present Value is (_____).
NPV
NPER is the acronym for what financial function term?
Number of Periods
The __________ calculates the payment for a loan based on constant payments and a constant interest rate.
PMT
The total amount a series of payments is worth now is called the __________.
PV (Present Value)
Explain the purpose of the National Institute of Standards Technology (NIST) Cybersecurity Framework.
The NIST Cybersecurity Framework is a voluntary guide that helps organizations understand and protect themselves against cybersecurity risks.
Why is it important to preserve the integrity of data, information, and systems?
These assets lose their usefulness and value if their consistency, accuracy, or dependability is compromised.
What is the second step that occurs when placing a call on a cellular network?
Your voice is converted by your phone to an electrical signal that is transmitted via radio waves to the nearest cell tower.
Which of the following is one of the primary components that enable networks and individual devices to connect to the Internet?
a "backbone" of connected hardware and a suite of Internet protocol software
Which of the four criteria is occurring when a network confirms that a transaction has not yet occurred on the blockchain?
a transaction is verified
If a company wants to create a secure computer network that can be accessed and used solely by its employees, it should create
an intranet.
An __________ is a contract between an individual and a company in which you make a lump sum payment or series of payments and, in return, receive regular disbursements beginning either immediately or more commonly at some point in the future.
annuity
"Cybersecurity threat mitigation" includes all of the policies, procedures, and tools that help organizations
anticipate and counter threats from security vulnerabilities or incidents and reduce their impact.
What are the core actions of the protect (PR) function?
controlling access to systems and preventing unauthorized access
Saraiya runs a small café. She would like to start placing small ad buys on social media and hires an analytics firm to determine which platforms she should advertise on. What type of cost would this be considered?
customer acquisition cost
Sales managers must identify the customer leads that best fit the company's goals. CRM assists in this aspect of a company's sales process, which is known as
customer qualification.
A Trojan horse succeeds through
deceptive access.
The purpose of the application protocol layer of TCP/IP is to
define how email programs and other software communicate within and across networks.
In addition to overall digital flexibility, technological savings, and increased collaboration, computing in the cloud provides organizations with
disaster recovery.
The __________ is the interest rate that is actually earned or paid on an investment, loan, or other financial instrument due to the result of compounding interest over a given time period.
effective interest rate
Vector and raster files are
geographic data.
A PaaS vendor offers its clients the ability to quickly build a customer loyalty app that allows customers to earn points for every purchase. The client chooses what features they'd like the app to have from a predetermined list of choices. What is this an example of?
mobile software development kit
When calculating (FV) Future Value of an annuity it is important to set the payment (PMT) to a __________ value.
negative
What is a key advanced technology behind CRM analytics?
online analytical processing
What type of computer users are considered miners?
people who validate cryptocurrency transactions on the digital ledger
To remain relevant in today's e-commerce landscape, many businesses use progressive ________ applications to undertake m-commerce.
web
A benign Internet robot that gathers data is called a(n)
web crawler.
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?
web planning
In which situation should the origin of information be authenticated to protect data integrity?
when electronic votes are submitted during an election
What does the abreviation (FV) stand for?
Future Value
The term Internal Rate of Return is abbreviated (____).
IRR
What is the second step in the process of sending a message via the Internet?
Identify the correct domain name.
What is the goal of the planning phase of the plan-protect-respond cycle?
Understand common threats that an organization may face and determine how vulnerable they are to such threats.
How does VPN software ensure that people accessing a network are authorized to do so?
VPN software authenticates users.
Why is establishing authentication procedures a common cybersecurity goal?
Verifying that users are authorized to access systems, data, and resources is fundamental to preventing their unauthorized use.
Manuel runs a small business that paints residential interiors. He has decided most of his current customers can best be reached by sending out a seasonal email newsletter. He will target new customers by placing ads on Facebook targeted at people located within 20 miles of his business who have searched for house painters. Where would he place this information on an e-commerce presence map?
type of presence
Collaboration software is designed to increase collaboration and productivity primarily by enabling team members to
view, edit, and add shared information in real time, from anywhere.
Which function of the NIST Cybersecurity Framework calls for an organization to implement plans for resilience?
recover (RC) function
A cybersecurity exploit allows a hacker or intruder to
remotely access a network, gain privileges, and make unauthorized changes.
For which type of cybersecurity vulnerability do organizations maintain and share databases of known problems?
security weaknesses in operating systems or application software
Payment can be made in the form of funds, assets, or __________.
services
With Web 3.0, everyday devices connected to the Web will become
smarter and more capable, given the improved support for the Internet of Things (IoT).
Which Web 2.0 feature utilizes application programming interfaces (APIs) to automate web content and/or processes?
software as a service (SaaS)
As of 2020, all legislation that has been passed to protect elections from cybersecurity threats are part of
state-specific cybersecurity laws.
The e-commerce company with the highest revenue is based in which country?
the United States
To calculate an organization's customer equity (CE) value we first determine
the future lifetime revenue the organization's customers will generate.
What is the main purpose of content delivery networks (CDNs)?
to minimize the distance between website users and website servers
M-commerce is a subset of
traditional e-commerce.
What is the second criteria necessary for adding a block to the blockchain?
transaction verification
What if any difference is there between a Trojan horse and a regular computer virus?
A Trojan horse does not self-replicate.
What is the difference between a cloud service and a web service?
A cloud service provides users with increased computing power and data management, whereas a web service provides the software tools needed for devices and systems to communicate with each other.
How does a cybersecurity exploit threaten the safety of a system?
It is a tool or technique for taking advantage of a system vulnerability to cause harm.
How are data in process different from data at rest or data in storage?
It is held in the device's RAM until it can be processed by the CPU or GPU.
__________ is widely used in finance in the stock valuation, bond pricing, and financial modeling.
PV (Present Value)
PMT is the Excel function for __________.
Payment
Why is data that is located in the RAM of a device considered data in transit?
RAM only holds data and instructions temporarily; nothing is permanently stored in RAM.
Interest Rate goes into which line in the Excel PMT function?
Rate
Of the following statements, which one specifically applies to the CRM integration of platforms such as Facebook, YouTube, and TikTok?
Social media platforms provide targeted customer information.
Which of the following is the term for CRM analytics that provides information about where data erosion occurs and how the erosion can be minimized?
Standardized Data Collection Processes
How do businesses ultimately benefit from using a CRM to identify the highest revenue customers in a target market, before developing a marketing campaign?
They save time and money by targeting this precise segment of the market.
Which cryptocurrency shares features with a previous cryptocurrency but is technologically enhanced?
bitcoin cash
What is the MOST direct way in which customer relationship management (CRM) systems can help businesses increase their sales?
by helping them identify and attract prospective customers
How does using a CRM to track customer acquisition rates help organizations improve their future customer acquisition rates?
by revealing whether their marketing efforts are effective or require changes
Amazon, Kamatera, Salesforce, and Google are all examples of
cloud service providers.
Which type of collaboration software could best help an organization increase engagement between remote employees and those who are "in-house" or organization-based?
cloud-based forums, messaging, and meeting apps
As e-commerce continues to develop, many retailers are likely to maintain some type of "brick-and-mortar" store or physical location primarily because
consumers expect integrated shopping experiences that include face-to-face options.
Gartner IT Services company predicts that by 2021, customer relationship management systems will be the single largest revenue area of spending in
enterprise software.
An ordinary annuity is a series of __________ payments made at the end of consecutive periods over a fixed length of time.
equal
The value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs is called customer
equity.
Apple has a very high customer equity (CE) value. Apple has gained this high CE value due to
extreme customer loyalty.
Time Value of Money (TVM) is one of the most basic fundamentals in __________.
finance
The key feature of Web 2.0 that allows users to collectively classify information, such as by tagging websites and online images, is called
folksonomy.
An educational startup has already written its proprietary "Homework Helper" code, using AI to help high school students with homework. While their data storage needs are currently small, they expect their needs to grow exponentially as they increase their user base. Which of the following could help them with this?
infrastructure as a service (IaaS)
Future Value (FV) calculations help you determine the amount of money you will have if you deposit a sum of money into an account or __________ money in a financial instrument that pays interest.
invest
An online photo printing company can temporarily lose its e-commerce ubiquity if
its website crashes due to a coding error or attack by hackers.
Built on real-time geodata and information provided from wireless mobile devices, ________ are widely used in m-commerce.
location-based services (LBS)
Which of the following is a goal of confidentiality as defined by the CIA triad?
making sure the right people have access to secure information
Which of the following acts is an example of social engineering?
manipulating people in order to obtain and misuse their personal information
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?
mobile platform planning and implementation
An interest rate (or rate) is usually stated as a __________.
percentage
The organizations likely to benefit the most from the global reach of e-commerce are those that
previously depended on foot traffic into one physical store to sell their products.
Bad actors seeking to create computer viruses primarily must know how to
program code.
While using her phone's GPS to drive to her vacation destination, Siena needs to find a gas station. She enters into her phone's GPS that she is looking for a gas station that is no more than five miles away from the route she is currently on. What is this an example of?
proximity location
