IIA IIA-CFSA Actual Free Exam Questions & Community Discussion

Endowment policies are similar to___________ policies in that premiums are usually level through the term of policy and the policies build cash values.

The duties of a guardian in guardianship arrangements are similar to those of a trustee.
Specifically, the guardian is obligated to: 1) Protect and preserve the assets 2) Submit an inventory and appraisal to the court 3) Retain or divest assets 4) Use principal and income for the benefit of the ward 5) Submit an annual accounting to the court

Asset/Liability (ALM) is a short and long term planning tool designed to maximize earnings. ALM tries to create optimal risk/reward decisions and focuses on creating prices that achieve spread. A sound ALM policy must manage following types of risks EXCEPT:

Off-balance-sheet usually means an asset or debt or financing activity not on the company's balance sheet. It could involve a lease or a separate subsidiary or a contingent liability such as
___________.

Annuities can be purchased through the following methods EXCEPT:

Electronic financial services audits should focus on whether there are adequate internal controls in place to protect customer transactions information, and assets. Some key steps in clued all of the following EXCEPT:

Compliance risk can lead t[o all of the following situations EXCEPT:

General Market indices in the commodities market with which many people would be familiar include:

A major type of personal selling distribution system is the:

Auditors should be aware of the following control and monitoring activities typically associated with securities lending EXCEPT:

The purpose of audits of financial statements is to issue an opinion on the fairness of the financial statements and to evaluate all of the following assertions (explicit or implicit) by management EXCEPT:

__________pays damaged insured by the injured and the insured's passenger when injured in an auto accident caused by a motorist without liability insurance. The coverage also covers accidents caused by hit-and-run drivers.

The benefits of tax deferral will out weigh the costs of a variable annuity only if the investor holds it as:

Which of the following is/are included in the specific steps for auditing short-term investments?

I- With reference to the granting of customer credit lines a thorough analysis of the customer's overall financial position is performed prior to trading authorization.
II-confirmations of each transaction are sent to customers indicating the quantity, delivery month and the contract price to ensure the integrity of transactions.
III-Original margin deposits in cash or acceptable securities to guarantee performance of contracts are determined in accordance These all are adequate procedures and controls associated with: