IIA Certified Financial Services Auditor CFSA Exam Practice Test

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Total 511 questions

Question 1

Money market funds bond funds (also called ''fixed income'' funds) , and stock funds (also called equity funds) are the categories of:

Answer : A

Question 2

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

Answer : D

Question 3

I- A gold producers wants to hedge his losses attributable to a fall in the price of gold for his

current gold inventory.

II- A cattle farmer wants to hedge his exposure to changes in the price of his livestock These are the examples of __________ who need to manage their exposure to fluctuations in the prices of their commodities.

Answer : B

Question 4

Investors typically cannot ascertain the exact makeup of a fund's portfolio at any given time, nor can they directly influence which securities the fund manager buys and sells or the timing of those trades. This is because of _______ in mutual funds.

Answer : B

Question 5

Call provisions are often part of ______________, but usually not bonds issued by ______________.

Answer : C

Question 6

Customer accounts:

Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts. The procedures should be formalized in writing and in accordance with the rules and regulations of the appropriate regulatory authority.

Ensure that daily customer positions and option exercises are in accordance with the limits established by the appropriate exchange. Verify that commissions generated by customer trades are properly calculated and posted to the general ledger.

Answer : A

Question 7

Occasionally, a company will issue additional shares of its stocks, called ____________, to raise additional capital.

Answer : A

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Total 511 questions