IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 421:

  End users need to hedge the prices at which they can purchase these commodities for instance:

  A. A University might want to lock in the price at which it purchases electricity to supply its air conditioning units for upcoming summer months
  B. An airline wants to lock in the price of the jet fuel it needs to purchase in order to satisfy the peak in seasonal demand for travel
  C. A cotton producer wants to hedge his exposure to changes in the price of fertilizers or his end product (cotton)
  D. Only A and B
  D. Only A and B

• Question 422:

  Carefully crafted audit objectives are important BECAUSE:

  A. Objectives provide direction
  B. Limit collection of unneeded information
  C. Control scope, methodology, timing and nature of audit work
  D. All of the above
  D. All of the above

• Question 423:

  ______________ includes provision provided by issuers to reduce risk in CMBS in a securitized process.

  A. Structuring
  B. Underwriting
  C. Credit Enhancement
  D. Collateral pool
  C. Credit Enhancement

• Question 424:

  ___________ supervise domestic and international activities of national banks and perform corporate analysis.

  A. National bank Examiners
  B. National banks project directors
  C. Subcontractors of Government entities
  D. None of these
  A. National bank Examiners

• Question 425:

  Term Life insurance is available in which of the following variant?

  A. Group team life insurance
  B. Decreasing team life insurance
  C. Level team life insurance
  D. All of these
  D. All of these

• Question 426:

  All these statements elaborate purpose of standards EXCEPT:

  A. Foster improved organizational processes and operations
  B. Establish the basis for the evaluation of internal audit performance
  C. Subvert the framework for performing and promoting broad range of value-added internal audit activities.
  D. Delineate basic principles that represent the practice of internal auditing as it should be
  C. Subvert the framework for performing and promoting broad range of value-added internal audit activities.

• Question 427:

  Insiders are generally barred from:

  A. Short-Selling
  B. Hedging
  C. OTC
  D. None of these
  A. Short-Selling

• Question 428:

  Managed care health techniques are most often practical by organizations and professionals that assume risk for a/an:

  A. Infinite population
  B. Finite or defined population
  C. None of these D. Any one of these
  B. Finite or defined population

• Question 429:

  Compliance testing is designed primarily to:

  A. Hold detection risk to an acceptable level
  B. Determine whether policies and procedures have been followed
  C. Determine that account balances exit, are accurate, and are properly classified
  D. Provide evidence about monetary misstatements
  B. Determine whether policies and procedures have been followed

• Question 430:

  ____________ swaps give companies extra flexibility to exploit their comparative advantage in their respective borrowing markets.

  A. Fixed-floating swaps
  B. Currency swaps
  C. Interest rate swaps
  D. None of these
  B. Currency swaps