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Question 116 - CISA discussion

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Which of the following demonstrates the use of data analytics for a loan origination process?

A.
Evaluating whether loan records are included in the batch file and are validated by the servicing system
Answers
A.
Evaluating whether loan records are included in the batch file and are validated by the servicing system
B.
Comparing a population of loans input in the origination system to loans booked on the servicing system
Answers
B.
Comparing a population of loans input in the origination system to loans booked on the servicing system
C.
Validating whether reconciliations between the two systems are performed and discrepancies are investigated
Answers
C.
Validating whether reconciliations between the two systems are performed and discrepancies are investigated
D.
Reviewing error handling controls to notify appropriate personnel in the event of a transmission failure
Answers
D.
Reviewing error handling controls to notify appropriate personnel in the event of a transmission failure
Suggested answer: B

Explanation:

Data analytics can be used to compare data from different sources and identify any discrepancies or anomalies. In this case, comparing a population of loans input in the origination system to loans booked on the servicing system can help detect any errors or frauds in the loan origination process. The other options are not examples of data analytics, but rather controls for data integrity, reconciliation, and error handling.Reference:CISA Review Manual (Digital Version), Chapter 3, Section 3.3.2

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asked 18/09/2024
Teboho Dintwe
26 questions
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