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An auditor plans to examine a sample targeting newly onboarded, high net-worth clients to assess adherence to their onboarding policies. What sampling methods should the auditor use? (Select Three.)
Suggested Answer: A, B, F
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25 comments · newest first
WI
Willard
10 months ago
Simple random sampling might miss key insights in this case.
LE
Lemuel
10 months ago
Stratified sampling is a must for high net-worth clients, no doubt!
DE
Deonna
11 months ago
Wait, are we really trusting judgment sampling? Seems risky!
AI
Aimee
11 months ago
I think C could be useful too, but not sure if it's the best fit here.
MA
Mari
11 months ago
Definitely A, B, and F! Those are solid choices.
DE
Denny
11 months ago
I definitely recall a question about discovery sampling, but I don't think it applies here since we're not looking for rare exceptions in onboarding.
JA
Jackie
12 months ago
I’m a bit confused about systematic sampling. I thought it was more for random selections, but maybe it could work if we have a large enough dataset?
LU
Luis
1 year ago
I remember practicing with stratified sampling in class; it seems like a solid option for ensuring we cover different segments of high net-worth clients.
PA
Pa
1 year ago
I think judgment sampling makes sense here since we want to focus on high net-worth clients, but I'm not entirely sure if it's the best choice.
ER
Eric
1 year ago
Wait, what's the difference between stratified sampling and systematic sampling again? I'm a bit confused on how to apply those methods in this context. I better double-check the details before answering.
CA
Carmelina
1 year ago
Okay, I think I've got this. Judgment sampling to focus on the high net-worth clients, stratified sampling to ensure I cover different groups, and systematic sampling to keep it organized. I feel pretty confident about this approach.
BL
Blair
1 year ago
Hmm, I'm a bit unsure about this one. I know judgment sampling is used when the auditor has specific knowledge, but I'm not sure how that applies here. Maybe I should review the sampling methods again before deciding.
ME
Merri
1 year ago
This seems like a straightforward question, I'd go with judgment sampling, stratified sampling, and systematic sampling to target the high net-worth clients and ensure a structured approach.
LO
Lorrie
1 year ago
I'm torn between B and F. Stratified sampling is great for the high net-worth clients, but systematic sampling has that nice, unbiased touch. Decisions, decisions!
JE
Jessenia
1 year ago
I also think stratified sampling would be useful to select samples from different groups.
SE
Serita
1 year ago
A, C, and F seem like the way to go. Judgment sampling to focus on the high-risk group, discovery sampling to uncover any hidden issues, and systematic sampling to keep it structured.
BE
Bettye
10 months ago
Stratified sampling is definitely key for high net-worth clients.
CA
Cassie
10 months ago
I agree, A and F are solid picks.
CO
Corinne
10 months ago
I think A, B, and F are the best choices.
KI
Kimberely
11 months ago
C is interesting, but I prefer A and B for targeted results.
HA
Hana
1 year ago
I agree, targeting high net-worth clients based on risk factors is important.
GL
Glory
1 year ago
Definitely going with B, Stratified Sampling. Targeting high net-worth clients is key, and dividing the population into groups makes total sense.
PE
Peggie
1 year ago
I agree, dividing the population into groups for sampling is a smart approach.
AD
Adelle
1 year ago
Yes, B is a good choice. It helps in targeting specific groups like high net-worth clients.
SH
Shalon
1 year ago
I think the auditor should use judgment sampling.