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NEW QUESTION # 413
An insurance company wants to increase sales by 15% and customer retention by 10% within 1 calendar year.
Various strategies to achieve this were considered and a restructure to the existing pricing model is selected to help achieve these goals.
A business analyst (BA) works with stakeholders such as actuaries, product specialists, sales staff, risk managers, and underwriters who agree to applying varying levels of discounts to customers based on:
*Total annual premium the customer has with the company (Financial worth)
*Time with the insurance company (Loyalty)
Various financial models are considered but the stakeholders agree that an initial applicable discount is determined based on the customer's overall premium:
The percentage of the maximum possible discount available to the customer is adjusted based on time with the company:
As the new pricing structure was being implemented, the chief executive officer (CEO) of the company wanted to change the premiums and associated discounts offered to customers. The BA investigated the cost, anticipated benefits and the length of time the change would likely take to complete before presenting the results back to the CEO.
What type of analysis has the BA just conducted?
Answer: D
NEW QUESTION # 414
You are working with Terry on the conduct stakeholder analysis task as part of the business analysis duties in your company. Terry wants to know why it's so important to identify stakeholders so early in the business analysis duties.
Which one of the following statements best addresses the need to identify the stakeholders early on in the business analysis duties?
Answer: A
NEW QUESTION # 415
What element of the conduct elicitation activity is tracked to provide a basis for future planning?
Answer: B
NEW QUESTION # 416
A business analyst is helping management determine which solution they should choose. As it happens that the organization can only choose one of the two solutions due to time and resource restrictions. Solution A worths $456,000 to the organization while solution B worths $565,000 to the organization. While solution A costs less, it is less risky and takes less time to complete so management elects to seize Solution A. What is the opportunity cost?
Answer: B
Explanation:
Section: Volume B
Explanation/Reference:
NEW QUESTION # 417
You and Tom are writing the solution scope for a new project in your organization. You need to create a method to define what solution will and will not provide for the organization.
What technique can you and Tom use to establish appropriate boundaries for the solution?
Answer: C
Explanation:
Explanation
Scope modeling is a technique that can be used to establish appropriate boundaries for the solution, as it describes the essence of one or more boundaries and places components inside or outside those boundaries.
Scope modeling can help to define the scope of control, change, solution, or need for the project. Scope modeling can also help to identify the in-scope and out-of-scope elements, as well as the relationships and dependencies among them. Scope modeling can provide the foundation for understanding the scope of the solution and the value it delivers to the organization12. Scope modeling can be represented as a blend of diagrams, matrices, and textual descriptions, such as context diagrams, use case models, Venn diagrams,etc134. References: 1: Scope modelling in business analysis - The Functional BA1 2: 10.41 Scope Modelling | IIBA2 3: Business Analysis Scope Modeling Training | Netmind Course3 4: How Should a Business Analyst Define "Project Scope?"4
NEW QUESTION # 418
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