IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 291:

  Federal Reserve Board has: A. Monetary policy

  B. Regulatory responsibilities
  C. Supervisory responsibilities
  D. All of these
  D. All of these

• Question 292:

  Both veteran affairs department and the Federal Housing Administration require an appraisal by a certified or licensed real estate appraiser for transaction valued at:

  A. 200,000or more
  B. 250,000 or more
  C. 225,000-or more
  D. 500,000 or more
  B. 250,000 or more

• Question 293:

  All of the following phrases are used to express the auditor's opinion EXCEPT:

  A. Give a true and fair view
  B. Present fairly, in all material respects
  C. Timely and consistent opinion
  D. Comprehensible and realistic view
  C. Timely and consistent opinion

• Question 294:

  While the SEC review is in progress, the issuer can circulate a preliminary prospectus to determine the interest in issue. The preliminary prospectus must include all of the following EXCEPT.

  A. Statement that the registration is filed but not effective.
  B. Statement that the information is subject to change.
  C. Red-Ink it to distinguish it from final prospectus.
  D. All of these
  D. All of these

• Question 295:

  Office of the comptroller of the currency:

  A. Ensures the safety and soundness of the National Banking System
  B. Foster competition by allowing banks to offer new products and services
  C. Improve the efficiency and effectiveness of OCC supervision including regulatory burden
  D. All of these
  D. All of these

• Question 296:

  Default risk is an alternate term used for:

  A. Liquidity Risk
  B. Credit Risk
  C. Control Activities Risk
  D. Operational Risk
  B. Credit Risk

• Question 297:

  Purchasers of universal life policies specify the policy's face amount and whether the death benefit will be level or vary as the policy's cash value changes. Under level death benefit policies the death benefit payable:

  A. Equals the policy's face amount
  B. More than the policy's face amount
  C. Less than the policy's face amount
  D. Is policy's face value plus any accumulated cash value
  A. Equals the policy's face amount

• Question 298:

  In SEC review process, if SEC believes that the registration statement contains false or misleading information or that pertinent information has been omitted, it can suspend the process with______________.

  A. Stop orders
  B. Deficiency letters
  C. Legal notices
  D. Red herring
  A. Stop orders

• Question 299:

  Insurance industry is regulated by:

  A. State Governments
  B. Federal Government
  C. Non-Government
  D. All of these
  D. All of these

• Question 300:

  Agents that represent one company exclusively are called:

  A. Independent Agents
  B. Captive Agents
  C. Exclusive Agents
  D. Detached Agents
  B. Captive Agents
  C. Exclusive Agents