IASSC ICYB Exam - Topic 1 Question 67 Discussion

Actual exam question for IASSC's ICYB exam

Question #: 67
Topic #: 1

[All ICYB Questions]

A Belt has determined that the insurance claim form needn't be reviewed by accounting thereby improving the number of claims a processer can handle. According to Cost of Poor Quality (COPQ) definitions RTY improvement would be considered _______________.

ADownsizing savings

BMedian savings

CSoft savings

DHard savings

Show Suggested Answer

Suggested Answer: A

by Chau at May 23, 2024, 04:50 AM

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Florinda

3 months ago

Downsizing savings sounds right based on COPQ.

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Royal

4 months ago

Hard savings? Seems a bit optimistic to me.

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Kimberely

4 months ago

Wait, are we sure this won't create other issues?

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Michel

4 months ago

Totally agree, this should boost productivity!

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Avery

4 months ago

RTY improvement typically leads to increased efficiency.

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Halina

5 months ago

I feel like hard savings is the right answer here, especially since it’s about tangible improvements in the process.

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Jeffrey

5 months ago

I’m a bit confused. I thought downsizing savings were more about reducing staff, not really about process improvements like RTY.

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Novella

5 months ago

I remember practicing a question about COPQ, and I think soft savings were mentioned in that context. But this feels different.

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Jolanda

5 months ago

I think RTY improvement might relate to hard savings, but I'm not entirely sure. It seems like it would have a direct impact on costs.

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Armanda

5 months ago

Hmm, this is a tricky one. I'll need to review my COPQ notes to make sure I understand the difference between soft and hard savings. Gotta get this right!

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Jovita

5 months ago

I'm pretty confident this is a soft savings. Streamlining the claims process to increase throughput is more about efficiency than direct cost reduction.

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Whitley

5 months ago

Wait, I'm a little confused. Isn't RTY improvement supposed to be a hard savings? I'll have to double-check the COPQ concepts.

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Laticia

5 months ago

Hmm, this one's a bit tricky. I'll need to think through the COPQ definitions carefully to determine the right answer.

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Kenneth

5 months ago

Okay, I think I've got this. Improving the RTY (right-first-time) would be considered a soft savings, since it's not a direct cost reduction.

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Shenika

5 months ago

This seems like a straightforward true/false question, but I want to make sure I fully understand the context before selecting an answer. I'll need to think about how Oauth2 is typically implemented and whether that aligns with the description of the OWS system.

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Paul

5 months ago

I'm leaning towards option A as well. Creating the trigger and making the callout directly seems like the most straightforward solution. As long as we handle the error cases properly, I think that's the way to go.

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Catarina

5 months ago

I think the first step should be to review the OFAC wire policies, right? That way, we can understand how the glitch happened.

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Lisbeth

10 months ago

I'm going to have to disagree with my fellow candidates. This is clearly a case of A) Downsizing savings. By eliminating the accounting review, they're essentially downsizing that department. Boom, mic drop.

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Tula

8 months ago

Interesting perspectives, but I think it aligns more with B) Median savings. It's a middle ground between hard and soft savings, reflecting a moderate improvement in efficiency.

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Loreta

9 months ago

I agree with the initial assessment of A) Downsizing savings. Removing the need for accounting review is definitely a form of downsizing in terms of resources and time.

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Brandon

9 months ago

I see your point, but I still believe it falls under D) Hard savings. Any direct cost reduction or efficiency improvement would be classified as hard savings.

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Graciela

9 months ago

I think it's actually C) Soft savings. By streamlining the process, they are saving time and resources which can be considered soft savings.

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Armando

10 months ago

I'm going to have to go with C) Soft savings. Anything that's not a direct reduction in labor or materials is usually considered a soft saving. Although, I guess you could argue it's a hard saving since it's reducing the workload. I'm just going to go with my gut on this one.

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Charolette

8 months ago

Yeah, it's more about improving efficiency rather than cutting costs directly.

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Leontine

9 months ago

I agree, it's not a direct reduction in labor or materials.

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Cecilia

9 months ago

I think C) Soft savings makes sense in this case.

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Gennie

10 months ago

As an accountant, I'd have to go with D) Hard savings. Anything that improves the efficiency of a process and reduces costs should be considered a hard saving, not just a fluffy 'soft' one.

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Brunilda

9 months ago

I think focusing on D) Hard savings is the best way to show real improvement in the Cost of Poor Quality.

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Raina

9 months ago

Definitely, C) Soft savings just doesn't have the same impact as hard savings when it comes to improving processes.

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Ben

9 months ago

I agree, D) Hard savings is the way to go. It's all about reducing costs and improving efficiency.

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Blair

11 months ago

Hmm, I'm not so sure. Couldn't this also be considered D) Hard savings since it's reducing the overall cost of processing claims? I'll have to think this one through a bit more.

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Rodney

10 months ago

Let's look into it further to make sure we understand the concept correctly.

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Amber

10 months ago

Maybe it's a combination of both Hard savings and Soft savings.

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Tamera

10 months ago

I agree, it seems like it would fall under the category of Hard savings.

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Refugia

10 months ago

I see your point, but I still think D) Hard savings makes more sense.

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Audra

10 months ago

I think it could be D) Hard savings because it's reducing costs.

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Zena

10 months ago

But wouldn't it also be C) Soft savings since it's improving efficiency?

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Ronnie

10 months ago

I think it could be D) Hard savings because it's reducing costs.

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Valda

11 months ago

I think the answer is C) Soft savings. Streamlining the insurance claim review process sounds like a process improvement that would reduce costs without directly adding to the bottom line.

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