IIA-CFSA Online Practice Questions and Answers

Internal auditors are expected to uphold the following principles:

A. Integrity, objectivity, competency

B. Integrity, objectivity, confidentiality, and competency

C. Integrity, objectivity, awareness and competency

D. Integrity, objectivity, entirety

After implementation of a drop out recovery program, employment rate rose. The drop out recovery program is responsible for increases in employment and look for possible economic or other factors that might have contributed to the rise. This example may be referred towards:

A. Post Hoc, Ergo Propter Hoc

B. Ad Hominem

C. Non Sequiter

D. False use of authority

Stock transfer agent, Bond registrar, stock registrar and dividend reinvestments agent are the additional duties of:

A. Brokers/Brokerage houses

B. Corporate trust departments

C. Mutual funds agencies

D. None of these

Continuous monitoring in systems and networks is a by-product of the increasing demand for immediate and continuous access to reliable information. Advancements in information monitoring and analysis are being accelerated both by increasing demands for timely and accurate information and by advances in technology that contribute to the:

A. Intelligence

B. Capabilities

C. Timeliness of evaluating system

D. Both A and B

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

For refinancing home and mortgage loans for example, the underwriter may request additional documentation such as:

A. Savings/source of money for down payment

B. Appraisal

C. Credit History

D. Only AandB

Which of the following is/ are the responsibility /ies of state insurance commission:

A. Making the State's insurance rules and regulations

B. Authorizing companies to operate in the state through the issuance rules and regulations

C. Authorizing companies to operate in the state through the issuance of licenses andcertificates of authority

D. Both of these

E. None of these

It should be an immediate decision:

A. That securities are for trading or for bank's own investment account

B. That how to record securities in the financial statements

C. That marketable securities should be accounted for at current market value

D. Both of these

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

A. Non-cancelable policies

B. Guaranteed renewable policies

C. Periodically renewable disability policy

D. Conditionally renewable policies

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

A. Zero coupon bond, Federal Government bonds

B. Corporate bonds, Zero coupon bonds

C. Corporate and municipal bonds, bonds issued by Federal Government

D. None of these