IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 411:

  If a mutual fund has an NAV of $100 million, and investors own $10,000,000 of fund's shares, the funds per share value will be:

  A. $100
  B. $1
  C. $10
  D. None of these
  C. $10

• Question 412:

  Banks also serves as "registrar" for stocks and bond issues. The registrar accounts for all shares issued, certificates outstanding, and Certificates cancelled. The role/s of the registrar is/are:

  A. To ensure that the transfer agent does not issue too many shares
  B. That old certificates are properly cancelled
  C. That new certificates are properly issued in the correct numerical sequence
  D. All of these
  D. All of these

• Question 413:

  A sound data classification scheme sets the foundation for the effective implementation of access control to ensure that data is adequately protected. The elements of a data classification scheme are as follows EXCEPT:

  A. Reporting
  B. Storing
  C. Collection
  D. Public information
  C. Collection
  D. Public information

• Question 414:

  Commercial, residential and consumer are three basic types of:

  A. Short term working capital loans
  B. Asset-based financing
  C. Installment loans
  D. Loans
  D. Loans

• Question 415:

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

  A. Long-Term investment
  B. Short-Term investment
  C. Credit-Risk investment
  D. Annuity investment
  A. Long-Term investment

• Question 416:

  The types of accounts that bear interest include savings accounts, negotiable orders of withdrawal (NOW) accounts, and certificates of deposit. These interest bearing accounts are known as:

  A. Interest bearing deposits/accounts
  B. Time deposits
  C. Both A and B
  D. Due from balances
  C. Both A and B

• Question 417:

  Back-office operations are _____________ as offshore operations which establish business entities in tax- free export zones or offshore centers.

  A. Almost same
  B. Same
  C. Not the same
  D. None of these
  C. Not the same

• Question 418:

  Premiums can be increased and your coverage can be cancelled in the event certain conditions stated in the policy are triggered. This is in the case of: A. Non-cancelable policies

  B. Conditionally renewable policies
  C. Guaranteed renewable policies
  D. None of these
  B. Conditionally renewable policies

• Question 419:

  These occur when two parties trade currencies at a mutually agreed upon exchange rate. One trader calls another trader asking for the price of a particular currency, and the second trader quotes both buying and selling prices for that currency. What are these?

  A. Spot transitions
  B. Forward transitions
  C. Backward transitions
  D. None of these
  A. Spot transitions

• Question 420:

  If a surgeon loses a hand, she may not be able to perform surgery. If she has an ____________ policy, she would be able to recover, even though she can still work as a doctor in a nonsurgical field. If she has a ____________ policy, there would be no recovery, even if the surgeon's only possible alternative is to be a tour guide.

  A. General disability, occupational disability
  B. Occupational disability, General disability
  C. None-cancelable policy and general disability
  D. None of these
  B. Occupational disability, General disability