IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 231:

  Trading securities are securities that a bank intends to sell within a short period, usually less than:

  A. Quarter
  B. Two months
  C. One month
  D. Twenty days
  C. One month

• Question 232:

  The benefits of an endowment insurance policy include all of the statements mentioned below EXCEPT:

  A. Ideal combination of investment and insurance coverage
  B. Attractive return and maximum security
  C. Amount paid out is guaranteed and taxable returns
  D. Both AandB
  C. Amount paid out is guaranteed and taxable returns

• Question 233:

  Some wills specify that more than one responsible party share the trustee's responsibilities of an estate .The condition depicts relation with which one of the following trust services:

  A. Guardians of estates
  B. Co-fiduciary
  C. Estate settlement
  D. Trusts
  B. Co-fiduciary

• Question 234:

  Some small businesses keep funds in a savings account to gain interest on:

  A. Fixed assets
  B. Liquid assets
  C. Loans
  D. All of these
  B. Liquid assets

• Question 235:

  Strategic planning is the process of taking a long-term view of the organization, the longer the view, the greater the uncertainty of risks and opportunities. Such reservations can better be handled by:

  A. Timely decisions
  B. Flexible/ Adaptive plans and processes
  C. Periodic risk assessments
  D. Focusing on current period organizational activity
  B. Flexible/ Adaptive plans and processes

• Question 236:

  ________ are insurance company representatives with the authority to sell the company's product.

  A. Brokers
  B. Dealers
  C. Agents
  D. Both A and B
  C. Agents

• Question 237:

  Typically, the costs associated with receiving care from the "in network" or approved providers are ______________ when care is rendered by non-contracting providers.

  A. More than
  B. Less than
  C. Same as
  D. Not comparable
  B. Less than

• Question 238:

  The approximate per-share NAV plus any fees the fund imposes is the price:

  A. That investors pay to purchase mutual fund
  B. That investors receive on redemptions
  C. Per share NAV
  D. All of these
  A. That investors pay to purchase mutual fund

• Question 239:

  Reasonable assurance relates to the:

  A. Audit planning process
  B. Scope of the internal audit
  C. End of the audit process
  D. Whole audit process
  D. Whole audit process

• Question 240:

  IIA's code of ethics applies to __________ that provide internal auditing services:

  A. Individuals
  B. Entities
  C. Individuals and entities
  D. Individuals, entities and indirect authorities
  C. Individuals and entities