IIA-CFSA Exam Questions Instant Access - No Installation Required

Question 1

The interagency statement calls for these disclosures to be provided EXCEPT:

AOrally during any sales presentation

BOrally when investment advice concerning the non deposit investment products is provided

CIn advertisement and other promotional materials as specified in the interagency statement

DNone of these

Answer : D

Question 2

Surrender charges usually apply only if the annuity has been in free:

AFor a year

BFor a maximum period of time

CFor a minimum period of time

DFor less than a year

Answer : C

Question 3

Obtaining feedback from client management throughout the audit is encouraged in order to ensure that appropriate information is being obtained and to alleviate problems at the conclusions of the audit. Some specific components of continual communication to consider include:

AKeep client management informed of audit issues and concerns as they arise.

BSubmit a draft audit report ensure that accurate and appropriate information has been
reported

CAdvise client management of projected audit days and weeks

DBoth A and B

Answer : D

Question 4

Policy holders of whole life insurance use the cash dividends in many ways as:

ATo lower or vanish premium

BTo purchase more insurance

CTo pay more term insurance

DAll of these

Answer : D

Question 5

The EU saving Directive is aimed at effective taxation of saving income in the form of:

AInterest payments

BInflation

CBoth of these

DNone of these

Answer : A

Question 6

Here are the following major types of long-term disability policies EXCEPT:

ANon-cancelable policies

BGuaranteed renewable policies

CPeriodically renewable disability policy

DConditionally renewable policies

Answer : C

Question 7

Interest rates offered on new CDs changes:

ADaily at most banks

BTwice a day at most banks

CWeekly at most banks

DMonthly at most banks

Answer : A

IIA Certified Financial Services Auditor IIA-CFSA CFSA Exam Questions