CFP Quality Control & Inspection 1 — Questions and Answers
Question 1: What is the PDCA cycle in CFP quality management?
- Plan-Do-Check-Act: an iterative continuous improvement method (Correct answer)
- A one-time checklist
- A performance rating system
- A budgeting method
Correct answer: Plan-Do-Check-Act: an iterative continuous improvement method
PDCA is a continuous improvement cycle: Plan a change, Do implement it, Check the results, Act on findings — then repeat.
Question 2: What is root cause analysis in CFP quality assurance?
- Investigating to find the fundamental underlying cause of a problem (Correct answer)
- Reviewing symptoms only
- Counting defects
- Assigning blame
Correct answer: Investigating to find the fundamental underlying cause of a problem
Root cause analysis digs beyond symptoms to find the fundamental cause, enabling corrective actions that prevent recurrence.
Question 3: What does benchmarking mean in CFP quality improvement?
- Comparing performance against recognized standards of excellence (Correct answer)
- A physical workbench marking
- A software test type
- An accounting standard
Correct answer: Comparing performance against recognized standards of excellence
Benchmarking compares processes and outcomes against best practices, identifying gaps and improvement opportunities.
Question 4: What is a quality audit in CFP practice?
- Evaluating whether quality standards and procedures are followed (Correct answer)
- Determining salaries
- Marketing services
- Revenue projection
Correct answer: Evaluating whether quality standards and procedures are followed
Quality audits examine whether established standards and procedures are implemented effectively, identifying non-conformances.
Question 5: What is a KPI in CFP quality management?
- A measurable value showing how effectively objectives are achieved (Correct answer)
- A personal opinion metric
- A decorative element
- A financial instrument
Correct answer: A measurable value showing how effectively objectives are achieved
KPIs are quantifiable measurements tied to objectives, providing actionable data about performance.
Question 6: What differentiates quality assurance from quality control in CFP?
- QA prevents defects through processes; QC detects defects in outputs (Correct answer)
- They are the same
- QC is always more important
- QA is only for manufacturing
Correct answer: QA prevents defects through processes; QC detects defects in outputs
QA is proactive and process-oriented (preventing defects). QC is reactive and product-oriented (detecting defects).
CFP Quality Control & Inspection 1
What is the PDCA cycle in CFP quality management?