IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 141:

  I- A gold producers wants to hedge his losses attributable to a fall in the price of gold for his current gold inventory.

  II- A cattle farmer wants to hedge his exposure to changes in the price of his livestock These are the examples of __________ who need to manage their exposure to fluctuations in the prices of their commodities.

  A. Hedgers
  B. Producers
  C. Speculators
  D. None of these
  B. Producers

• Question 142:

  A residential mortgage-related security that is rated investment grade or is the credit quivalent thereof, or a residential ortgage security that is rated investment grade in one of the wo highest investment grade rating categories. It usually qualifies as:

  A. Type II Securities
  B. Type III Securities
  C. Type I Securities
  D. Type IV Securities
  D. Type IV Securities

• Question 143:

  Business continuation insurance protects a business against the potential economic loss resulting from the passing or disability of key executives and/or employees. This is the insurance coverage which comes under the umbrella heading of:

  A. Casualty insurance
  B. General liability insurance
  C. Disability insurance
  D. Straight forward risk insurance
  A. Casualty insurance

• Question 144:

  Which of the following is least expensive form of life coverage, at least initially?

  A. Variable life insurance
  B. Whole life insurance
  C. Term life insurance
  D. Permanent life insurance
  C. Term life insurance

• Question 145:

  A firm is trying to acquire another company. This is called ____________, and all the participants involved must register with the SEC.

  A. Proxy contest
  B. Merger
  C. Acquisition
  D. Both A and C
  D. Both A and C

• Question 146:

  When looking at account receivables auditors should ensure:

  A. Receipts are processed and recorded timely
  B. Collections are handled by an outside party
  C. Disbursements are made right after the original authorizations
  D. Collections are handled by a brokerage house
  A. Receipts are processed and recorded timely

• Question 147:

  National banks must sell any real estate within _________ of acquisition if it is not used for banking purpose.

  A. Three years
  B. Fourteen years
  C. Four years
  D. Five years
  D. Five years

• Question 148:

  The interagency statement calls for these disclosures to be provided EXCEPT:

  A. Orally during any sales presentation
  B. Orally when investment advice concerning the non deposit investment products is provided
  C. In advertisement and other promotional materials as specified in the interagency statement
  D. None of these
  D. None of these

• Question 149:

  System tailoring is accomplished by setting optional system parameters and, therefore, has an impact on system performance and security. Control techniques for system's software include:

  A. Setting appropriate system parameters and security options for operating system
  B. Verifying the accuracy of output through manual or automated reconciliation activities
  C. Using the security features of security software effectively
  D. Controlling procurement and maintainace of software licenses
  A. Setting appropriate system parameters and security options for operating system
  C. Using the security features of security software effectively
  D. Controlling procurement and maintainace of software licenses

• Question 150:

  Cash equivalent may include:

  A. Commercial Papers
  B. Returned Checks
  C. Spotted debits
  D. Only A and B
  D. Only A and B