CHERWIN BENTULAN

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Detailed records kept of actions carried out by personnel such that subsequent examination
of the records by an auditor would allow a sequence of actions to be recreated or
understood.
Audit trail
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Collection of documents and records purposefully stored for a defined period of time.
Archive
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Difference between the expectation of the test result and an accepted reference value.
bias
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They can be internal, involving suit-ably trained personnel from within the laboratory’s own
organization, or external, for example from an accreditation body or other independent
organizations.
Auditors
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They can be internal, involving suit-ably trained personnel from within the laboratory’s own
organization, or external, for example from an accreditation body or other independent
organizations.

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Process by which personnel or procedures are approved for the work of the laboratory by
suitably qualified staff.
Authorization
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tion 1
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Procedure by which a certifying body gives formal recognition that an organization, person,
process, service or product complies with given specifications.
Certification
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Big mistake, especially one which seems to be the result of carelessness or stupidity.
Blunder
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Biological matrix to which a known amount of analyte has been added or spiked.
Calibration standard
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Independent science-based organization which has the competence to grant certifications.

Certifying body
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Relationship between the signal response of the instrument and various concentrations of
analyte in a suitable solvent or matrix.
Calibration curve
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Match the quality assurance term with its description.

Number of negative results obtained by new method divided Answer 1

by number of true negative results. Negative predictive value
 
Scheduled review of the laboratory’s quality management
system and its testing activities organized by the quality Answer 2
manager to ensure that they remain suitable and effective or Management review
 
to identify any changes and improvements required.
Closeness of agreement between independent test results Answer 3
obtained under prescribed conditions. Precision
 
System of activities whose purpose is to provide to the
producer or user of a product or a service the assurance that it Answer 4
meets defined standards of quality with a stated level of Quality assurance
 
confidence.
Standard, generally of the highest quality available at a given Answer 5
 CHERWIN BENTULAN

location, from which measurements made at that location are Reference standard
derived.  
This compares the difference between a measurement and the
Answer 6
one nearest to the measurement in size with the difference Dixon test
between the highest and lowest measurements in the set.  
Asymptotic value or population mean of the distribution that
characterizes the measured quantity; the value that is Answer 7
approached as the number of observations approaches Limiting mean
 
infinity.
Answer 8
Hierarchy of personnel in an organization. Management structure
 
Percentage of the drug, metabolite, or internal standard
Answer 9
originally in the specimen or sample that reaches the end of Recovery
the procedure.  
Overall system of monitoring activities which provides Answer 10
assurance that the quality control is performed effectively. Quality assessment
 
Set of operations, described specifically, used in the Answer 11
performance of measurements according to a given method. Measurement procedure
 
Persons qualified, (at different levels, and sufficient in
Answer 12
number) with adequate training and experience to carry out Personnel
their assigned functions.  
Value less than or equal to which the absolute difference
Answer 13
between two test results obtained under reproducibility Reproducibility limit “R”
conditions may be expected to be with a probability of 95%.  
Statistical techniques designed for use when data have certain
Answer 14
characteristics, usually when they approximate a normal Parametric test
distribution and are measurable.  
Formal and nationally traceable method of evaluating the
Answer 15
performance of an instrument against previously defined Performance verification
procedures and specifications.  
ll activities of the overall management function that
Answer 16
determine and implement quality policy, objectives and Quality assurance management
responsibilities.  
This compares the largest of a set of variances with the other Answer 17
variances in the set. Cochran test
 
Standard recognized by an official national decision as the
Answer 18
basis for fixing the value, in a country, of all other standards National standard
of the quantity concerned.  
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Simplified calibration procedure using a single calibrator and Answer 19

a blank. One point calibration
 
Statistical method that makes no assumptions about the shape
Answer 20
of the distribution of the population from which the sample Non-parametric test
data are taken.  
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Question 1
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A document, or combination of documents, prepared typically on an annual basis by

management or those charged with governance in accordance with law, regulation or
custom, the purpose of which is to provide owners (or similar stakeholders) with information
on the entity's operations and the entity's financial results and financial position as set out
in the financial statements.
Annual report
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Evaluations of financial information through analysis of plausible relationships among both

financial and non-financial data.
Analytical procedures
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A misstatement or deviation that is demonstrably not representative of misstatements or

deviations in a population.
Anomaly
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Any undertaking, regardless of its legal form, which is connected to a firm by means of
common ownership, control or management.
Affiliate firm
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The records of initial accounting entries and supporting records,such as checks and records
of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal
entries and other adjustments to the financial statements that are not reflected in formal
journal entries; and records such as work sheets and spreadsheets supporting cost
allocations, computations, reconciliations and disclosures.
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Accounting records
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Question 1
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The measure of the quality of audit evidence;that is, its relevance and its reliability in
providing support for the conclusions on which the auditor's opinion is based.
Appropriateness (of audit evidence)
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A transaction conducted on such terms and conditions as between a willing buyer and a
willing seller who are unrelated and are acting independently of each other and pursuing
their own best interests.
Arm’s length transaction
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An assurance engagement in which the practitioner reduces engagement risk to a level that
is acceptable in the circumstances of the engagement, but where that risk is greater than for
a reasonable assurance engagement, as the basis for expressing a conclusion in a form that
conveys whether, based on the procedures performed and evidence obtained, a matter(s)
has come to the practitioner's attention to cause the practitioner to believe that the subject
matter information is materially misstated.
Limited assurance engagement
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An assurance engagement in which the practitioner reduces engagement risk to an

acceptably low level in the circumstances of the engagement as the basis for the
practitioner's conclusion.
Reasonable assurance engagement
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The risk that the practitioner expresses an inappropriate conclusion when the subject matter
information is materially misstated.
Assurance engagement risk
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Question 1
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Match the auditing and ethics term with its description.

A sole practitioner, partnership, limited liability
partnership,or corporation or other entity of Answer 1
professional accountants engaged in the provision of Firm
 
engagements.
An entity with respect to which the firm and covered Answer 2
persons are required to be independent. Entity relevant to the engagement
 
Answer 3
The audit opinion on the group financial statements. Group audit opinion
 
Policies and procedures that relate to many applications
and support the effective functioning of application Answer 4
controls by helping to ensure the continued proper General IT-controls
 
operation of information systems
Procedures performed in response to assessed risks of
Answer 5
material misstatement, including tests of controls (if Further procedures
any), tests of details and analytical procedures.  
Financial statements prepared in accordance with a Answer 6
general purpose framework. General purpose financial statements
 
Partners, including the group engagement partner, and
staff who establish the overall group audit strategy,
communicate with component auditors,perform work
Answer 7
on the consolidation process, and evaluate the Group engagement team
conclusions drawn from the audit evidence as the basis  
for forming an opinion on the group financial
statements.
Those matters that, in the auditor's professional
Answer 8
judgment, were of most significance in the audit of the Key audit matters
financial statements of the current period.  
Prospective financial information prepared on the basis
of assumptions as to future events which management
Answer 9
expects to take place and the actions management Forecast
expects to take as of the date the information is  
prepared (best-estimate assumptions)
 CHERWIN BENTULAN

Inquire into matters arising from other procedures to Answer 10

resolve them. Investigate
 
Answer 11
The audit of group financial statements. Group audit
 
A financial reporting framework designed to meet
Answer 12
thecommon financial information needs of a wide range General purpose framework
of users.  
Audit evidence obtained as a direct written response to
Answer 13
the auditor from a third party (the confirming party), in External confirmation
paper form, or by electronic or othermedium.  
The process designed, implemented and maintained by
those charged with governance, management and other
personnel to provide reasonable assurance about the
Answer 14
achievement of an entity's objectives with regard to Internal control
reliability of financial reporting, effectiveness and  
efficiency of operations, and compliance with
applicable laws and regulations.
Events or conditions that indicate an incentive or
Answer 15
pressure to commit fraud or provide an opportunity to Fraud risk factors
commit fraud.  
The partner or other person in the firm who is
responsible for the group audit engagement and its Answer 16
performance, and for the auditor's report on the group Group engagement partner
 
financial statements that is issued on behalf of the firm.
An intentional act by one or more individuals among
management, those charged with governance, Answer 17
employees, or third parties, involving the use of Fraud
 
deception to obtain an unjust or illegal advantage.
An entity whose shares, stock or debt are quoted or
listed on a recognized stock exchange, or are marketed Answer 18
under the regulations of a recognized stock exchange or Listed entity
 
other equivalent body.
An entity with actual or anticipated financial or
Answer 19
operational difficulties that threaten the survival of that Entity in distress
entity as a going concern.  
A component of internal control that is the entity's
process for identifying business risks relevant to Answer 20
financial reporting objectives and deciding about Entity's risk assessment process
 
actions to address those risks, and the results thereof.
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Question 1
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Liability arising from extremely dangerous operations; for example, blasting.

Absolute Liability
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Question 2
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Present day value of property measured in cash, arrived at by taking the replacement cost
and deducting for depreciation.
Actual Cash Value
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Act or event resulting from natural causes, without any human intervention.
Act of God
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An entity or person, other than the one in whose name coverage is written, protected
against loss by an insurance policy or other coverage document.
Additional Insured
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Categories of loss that summarize causes of loss, nature of the loss, or what body part was
injured.
Accident Type
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Where one places one’s self in a position of known risk and danger.
Assumption of Risk
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The tendency of poorer risks or less desirable insureds to seek or continue insurance to a
greater extend than do better ones, and the tendency of insureds to take advantage of
favorable options in insurance contracts.
Adverse Selection
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An insurance company is termed “admitted” within a given state when licensed by the
state’s regulatory authority to do business in that state; also known as an “Authorized
Company.”
Admitted Company
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Policy provision in which the insured agrees to maintain a stated or determinable amount of
insurance.
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Aggregate Amount Clause

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The legal recourse for reconsideration of a judgment or findings.

Appeal
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Match the risk assessment term with its description.

The science of adapting work environments to suit Answer 1

the capabilities and characteristics of an individual. Ergonomics
 
Process brought to obtain the opinion of judgment of Answer 2
a court concerning a point of law. Declaration Judgment
 
Hazards naturally existing in the environment.
Answer 3
Considered not to be artificially created, but out of Hazard, Natural
doors.  
The insurer, insured or employer representative
Answer 4
directing the workplace’s disability management Disability Management Coordinator
activities.  
Insurance that covers more than one type of property
Answer 5
in one location or one or more types of property at Blanket Insurance
several locations  
Under workers’ compensation, a payment made to a Answer 6
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worker or a dependent in relation to a compensable Benefit

injury or condition.  
Weekly amount prescribed by statutes for disability Answer 7
or death. Average Weekly Benefits
 
A dangerous place or instrumentality attractive to
Answer 8
children, the owner of which has the legal duty of Attractive Nuisance
taking unusual care to guard them from it.  
Answer 9
Enhancement of value from improvements. Betterment
 
A liability exclusion denying coverage of Chapman
Answer 10
University’s liability damage to others’ property in Care, Custody and Control
Chapman University’s care, custody or control.  
The credit for future claim payments and expenses at Answer 11
their present value. Discounting
 
Document provided by defense counsel within 30
days of assignment providing an assessment of the Answer 12
merits of the case, defenses available and Case Evaluation and Plan (CEP)
 
recommended budget.
Coverage for removal of debris resulting from Answer 13
damage to property caused by an insured peril. Debris Removal
 
This covers property damage resulting from accidents
Answer 14
of boilers, pressure vessel, chillers, or related Boiler and Machinery Insurance
property.  
Theory of probability that the larger the number of
Answer 15
risks the more closely will the actual results obtained Law of Large Numbers
approach the probable results expected.  
An amendment in writing added to or taking from Answer 16
and made a part of the coverage or insurance contract. Endorsement
 
Hazards resulting from personal or physical Answer 17
characteristics; for example, habits, integrity, etc. Hazard, Moral
 
Any one-time treatment, and any follow-up visit for
the purpose of observation, or minor scratches, cuts, Answer 18
burns, splinters, etc., which do not ordinarily require First Aid
 
medical care.
Report by a medical examiner providing information Answer 19
on causes of death. Autopsy
 
A rating element used to measure an insured’s Answer 20
expected risk of loss. Exposures
 
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