Exam Code: IIA-CFSA (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Certified Financial Services Auditor
Certification Provider: IIA
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2021 Sep IIA-CFSA exams
Q101. (Topic 4)
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
Answer: D
Q102. (Topic 3)
In effect to protect customers from unsubstantiated or undocumented losses. NASD has some specific rules. The rules include:
A. Registered representatives are prohibited from guaranteeing a customer’s account againstloss or from sharing in the losses or gains in an account.
B. Private transactions conducted outside the firm are prohibited.
C. If a firm’s stock is publicly traded, employees of the firm may not recommend nor solicitpurchases of the firm’s stock. However, unsolicited purchases are acceptable.
D. All of These.
Answer: D
Q103. (Topic 2)
___________ are investment securities that do not fall under one of the other types of securities. Examples of these are Type III securities including corporate bonds and municipal bonds.
A. Type II Securities
B. Type III Securities
C. Type I Securities
D. Type IV Securities
Answer: A
Q104. (Topic 5)
Option’s in major types of life insurance is/are:
A. May be renewable or convertible to a whole life policy (term life insurance)
B. May pay dividends, may provide a reduced paid-up policy. Partial cash surrenders permitted (whole life insurance)
C. May pay dividends minimum death benefit partial cash surrenders permitted
D. All of these
Answer: D
Q105. (Topic 3)
__________ agency system uses agents who sell the policies of a group of affiliated companies.
A. Multiple-line (or all lines) agency system
B. Personal selling distribution system
C. Career agency system
D. None of these
Answer: A
Rebirth IIA-CFSA sample question:
Q106. (Topic 1)
Following statements define risk EXCEPT:
A. Organization has knowledge of facts constituting a dangerous condition
B. Organization voluntarily exposes itself to the danger
C. The element of assurance in an undertaking
D. Measured in terms of impact and likelihood
Answer: C
Q107. (Topic 3)
Initially, back-office operation were created as captives of parent companies and treated as cost centers from cost centers to profit centers due to:
A. The emergence of third-party back-office facilities making it possible for corporation to avail of their services
B. Corporation are increasingly converting captive back-office operations into profit centers by accepting external clients
C. Stagnant position of service activities being outsourced.
D. Both A&B
Answer: D
Q108. (Topic 3)
New Zealand’s major trading partners are in the process of adopting or have already adopted, the international’s accounting standards this includes all EXCEPT:
A. Australia and Singapore
B. Hong Kong and European Union
C. United State, Canada and Japan
D. None of these
Answer: C
Q109. (Topic 5)
The time that a new group member must wait before becoming eligible to enroll in a group insurance plan is known as the:
A. Actively-at-work provision
B. Probationary period
C. Eligible period
D. Enrollment period
Answer: B
Q110. (Topic 5)
Mutual funds provide an attractive investment choice because they generally offer the following feature/s:
A. Professional Management
B. Diversification
C. Affordability
D. All of these
Answer: D