IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 211:

  Internal auditors, engaging in activities that are illegal and discreditable to the profession of internal auditing or the organization, violate which of the following principles:

  A. Objectivity
  B. Awareness
  C. Integrity
  D. Competence
  C. Integrity

• Question 212:

  Whole life insurance protects for:

  A. A specified period
  B. Flexible Time period
  C. Entire life if you keep the policy
  D. Both Band C
  C. Entire life if you keep the policy

• Question 213:

  Shareholders also have the right to receive declared dividends. Besides the potential for capital appreciation, investors also have the potential to receive dividend income. There are several types of dividends. For instance, an investor with 500 shares of stock selling at $50 per share would have 1,000 shares at $25 per share after a 2-for-1 split. These types of dividends are called:

  A. Cash dividends
  B. Stock split
  C. Preferred dividends
  D. None of these
  D. None of these

• Question 214:

  Faulty human judgments, misunderstanding of instructions, errors, management override, and collusion and cost/benefit considerations are the limitations of:

  A. Reasonable Assurance
  B. Internal Control System
  C. Risk Management
  D. Compliance Control
  B. Internal Control System

• Question 215:

  There are different classes of mutual funds. Classes that typically do not have a front-end sales load. Instead they may impose a contingent deferred sales load and a 12b-1 fee (along with other annual expenses) is called:

  A. Class A
  B. Class B
  C. Class C
  D. Both BandC
  B. Class B

• Question 216:

  Certificates of deposit may be:

  A. Bearable or registered
  B. Negotiable or non-negotiable
  C. None of these
  D. Both of these
  D. Both of these

• Question 217:

  Nature of internal audit activities and quality criteria against which the performance of these services can be evaluated is best portrayed by:

  A. Performance Standards
  B. Attribute Standards
  C. Implementation Standards
  D. Evaluation Standards
  A. Performance Standards

• Question 218:

  Question

  I. Surrender Changes

  II. Mortality and Expense risk change

  III. Administrative Fees

  IV. Underlying funds expenses

  V. Fees charges for other features

  These are the charges which investors pay when they invest in:

  A. Variable annuity
  B. Fixed annuity
  C. Mixed annuity
  D. Both B and C depends upon situation
  I. Surrender Changes II. Mortality and Expense risk change III. Administrative Fees IV. Underlying funds expenses
  A. Variable annuity

• Question 219:

  Adequate solution for insurance coverage is that:

  A. Which offsets the losses generated by the absence of a key contributor?
  B. Does not impose a financial burden on the business
  C. Establish control of the business to the surviving active owner
  D. All of these
  D. All of these

• Question 220:

  Life insurance that can be made valid up to a certain age or period is called ___________. This insurance coverage continues up until an agreed time without having to be renewed.

  A. Voluntary Life insurance
  B. Straightforward risk insurance
  C. Savings insurance
  D. All of these
  A. Voluntary Life insurance