IIA IIA-CFSA Online Practice Questions and Exam Preparation

IIA IIA-CFSA Online Questions & Answers

• Question 491:

  The purpose of audits of financial statements is to issue an opinion on the fairness of the financial statements and to evaluate all of the following assertions (explicit or implicit) by management EXCEPT:

  A. Existence or occurrence assertions address whether available information addresses actualtransactions, assets, and liabilities
  B. completeness assertions address whether all material financial information is included infinancial statements
  C. Rights and obligations assertions address whether the entity has legal rights to the assets andobligations to the liabilities disclosed on the financial statements
  D. Presentation and disclosure assertions address whether the elements of the financialstatements are properly organized, classified and disclosed
  C. Rights and obligations assertions address whether the entity has legal rights to the assets andobligations to the liabilities disclosed on the financial statements

• Question 492:

  Most certificates are held by the depository trust company as custodians for the trustee for the benefit of the certificate holders, and the notice of book entry is made to the certificate holders simultaneously with the distribution. The actual certificates, but instead only possess a record of ___________.

  A. Where they are?
  B. What they have?
  C. When they purchased?
  D. All of these
  A. Where they are?

• Question 493:

  Theory of life insurance is evolved from:

  A. Need-based analysis
  B. Cost based analysis
  C. Cost and return based analysis
  D. Both Aand B
  A. Need-based analysis

• Question 494:

  Which of the following best suits in place of question mark?

  

  A. Risk spectrum
  B. Risk platform
  C. Risk levels
  D. All of these
  A. Risk spectrum

• Question 495:

  Individuals can invest in REITs:

  A. By purchasing their shares directly on an open exchange
  B. By investing in a mutual fund that specializes in public real estate
  C. Both AandB
  D. Either A or B; it depends
  D. Either A or B; it depends

• Question 496:

  The European Central Bank is the central bank for the Europe's single currency, the EURO. The ECB's main task is to maintain the EURO's:

  A. Distribution and stability is the EURO area
  B. Purchasing power and thus price stability in the EURO area
  C. Purchasing power and thus price downfalls in the EURO area
  D. None of these
  B. Purchasing power and thus price stability in the EURO area

• Question 497:

  Close-end funds are traded on:

  A. A primary market
  B. Secondary market
  C. Tertiary market
  D. Are not traded anywhere
  B. Secondary market

• Question 498:

  Bank loans can generally be classified in several ways EXCEPT:

  A. Time loans are made for a specific time period
  B. Demand loans have fixed maturity dates and also may be payable on demand of the lender
  C. Installment loans require periodic principal
  D. Line-of-credit arrangements allow the borrower to borrow up to a maximum limit for aspecific period.
  B. Demand loans have fixed maturity dates and also may be payable on demand of the lender

• Question 499:

  Some organizations will strive to simply with the law; others will use the Act as an opportunity to further promote treasury best practices. Specific areas of opportunity include all of the following EXCEPT:

  A. Identifying control points/issues and improving control processes
  B. Improving financial reporting and support processes
  C. Strengthening global governance activities
  D. None of these
  D. None of these

• Question 500:

  ____________ is a form of insurance, to move risk from someone major loss to someone who could absorb the loss, or is able to hedge against the risk by buying some other derivative.

  A. Future
  B. Option
  C. Swap
  D. All the derivatives
  D. All the derivatives