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Exam Code:	IIA-CFSA
Exam Name:	Certified Financial Services Auditor
Certification Provider:	IIA
Free Question Number:	487
Version:	v2018-02-26
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# of Questions views:	184758
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Exam Question List: Question 1: _____________ is a type of insurance that employers provide ...; Question 2: Although generally attached to bonds or preferred stock, war...; Question 3: Securities available for resale, by the bank, should be repo...; Question 4: Call provisions are often part of ______________, but usuall...; Question 5: In order to avoid reputation risk; e.g. a bank that originat...; Question 6: "Internal auditors make a balanced assessment of all the rel...; Question 7: To limit strategic risk management should ensure proper bala...; Question 8: Enterprise risk management encompasses all EXCEPT:...; Question 9: Audit evidence:; Question 10: Occasionally, a company will issue additional shares of its ...; Question 11: Which of the following is/are included in the specific steps...; Question 12: Banks can record interest earned on trading securities as ei...; Question 13: Which of the following is not a characteristic of a control ...; Question 14: There are some investment companies, known as exchange-trade...; Question 15: Following are the EU Saving Directives paying agents EXCEPT:...; Question 16: Disadvantages of term life insurance to buyers are all EXCEP...; Question 17: Close-end funds are traded on:; Question 18: _____________ loans allow the consumer to repay a loan over ...; Question 19: At times when you have more money available, you can pay as ...; Question 20: Certificates of deposit may be:...; Question 21: Hedge funds:; Question 22: The primary component of the McCarran-Ferguson Act is/are:...; Question 23: IIA's code of ethics applies to __________ that provide inte...; Question 24: __________ allows businesses that sell durable goods such as...; Question 25: Life insurance that can be made valid up to a certain age or...; Question 26: Types of commercial loans are /are:...; Question 27: Although these rights do not always exist, if they do, share...; Question 28: CAMEL is an acronym that comes from the key areas of a finan...; Question 29: It should be an immediate decision:...; Question 30: Guaranteed investment contracts are contracts between:...; Question 31: In variable universal life (VUL) policies the maximum premiu...; Question 32: Faulty human judgments, misunderstanding of instructions, er...; Question 33: Bank may serve as trustee or custodian for pension and profi...; Question 34: Elements of information and process integrity are that it sh...; Question 35: When a bank charges off a loan as a loss, it reduces an acco...; Question 36: I- Restrict access to data by business need-to-know (Exhibit...; Question 37: Continuous monitoring in systems and networks is a by-produc...; Question 38: I- Loan Processing II- Claims Processing III- Applicating IV...; Question 39: Audits of foreign exchange transactions may include of the f...; Question 40: Non-interest bearing accounts including checking accounts an...; Question 41: Compliance testing is designed primarily to:...; Question 42: In which of the following ways are calls and put options use...; Question 43: Historical simulation and model based approach are the metho...; Question 44: Deductibles for dental insurance plans are _________...; Question 45: Visa and MasterCard have teamed up to develop payment card I...; Question 46: Which of the following type/s of company/ies is/are defined ...; Question 47: Which of the following are typical information system contro...; Question 48: In variable life insurance the number and type of insurance ...; Question 49: The EU saving Directive is aimed at effective taxation of sa...; Question 50: Pension Benefit Guarantee Corporation (PBGC) insures "Define...; Question 51: The most common index funds tries to tracks the S&P 500 ...; Question 52: The duties of a guardian in guardianship arrangements are si...; Question 53: A major type of personal selling distribution system is the:...; Question 54: If more funds than expected are needed to cover loans losses...; Question 55: ____________ is a form of insurance, to move risk from someo...; Question 56: Major categories of loans include all of the following EXCEP...; Question 57: EFRAG is the abbreviation of:; Question 58: Adequate solution for insurance coverage is that:...; Question 59: The benefits of tax deferral will out weigh the costs of a v...; Question 60: Here are the following major types of long-term disability p...; Question 61: The scope of an audit defines the boundaries of the audit by...; Question 62: For example, $50,000 five-year policy might decrease to $40,...; Question 63: There are different classes of mutual funds. Classes that ty...; Question 64: Which of the following statements about endowments is correc...; Question 65: This agreement occurs when a security is sold with an agreem...; Question 66: All of the following are financial instrument EXCEPT:...; Question 67: Workpapers serve as the connecting link between the audit as...; Question 68: An intelligent risks management platform approaches risk fro...; Question 69: Watch lists of loans that are in danger of becoming delinque...; Question 70: Some wills specify that more than one responsible party shar...; Question 71: Negotiable certificates are:; Question 72: ________ are insurance company representatives with the auth...; Question 73: The approximate per-share NAV plus any fees the fund imposes...; Question 74: Major types of individual long-term disability policies are ...; Question 75: Variable life insurance is:; Question 76: One of the largest components of the global derivative marke...; Question 77: Recent activities in the marketplace have caused your compan...; Question 78: The companies strive to improve customer acquisition, servic...; Question 79: Insurance is a method of transferring, for a fee, the financ...; Question 80: The objective/s of a trust department audit is/ are to:...; Question 81: The accumulation phase in annuities can last from as long as...; Question 82: Banks should account for trading securities at market value....; Question 83: "These are usually secured by mortgages, deeds of trust, lan...; Question 84: Basel II aims to improve the security and long-term viabilit...; Question 85: Liability insurance is a part of general insurance system of...; Question 86: _________ stock generally costs more than __________ because...; Question 87: Unlike trust, there is no conveyance of title to the account...; Question 88: System tailoring is accomplished by setting optional system ...; Question 89: The tax implications are to be considered in case of life in...; Question 90: Under the principles of bank accounting, loans reported as n...; Question 91: Options are quoted daily in the newspapers. The listing prov...; Question 92: There are multiple sets of attribute and performance standar...; Question 93: A manager of a very controversial program may have stolen on...; Question 94: Performance as _____________ is normally the only true trust...; Question 95: The main objective/s of an audit of swaps is/are:...; Question 96: Non-deposit investment product includes:...; Question 97: These policies provide a death benefit when the insured dies...; Question 98: The process of purchasing all or any part of anew issue of m...; Question 99: Which premium life insurance is flexible enough under which ...; Question 100: Deposit in many banks are insured by the ______________, whi...; Question 101: Municipal bonds are issued by state and local governments, U...; Question 102: Commercial banks create money by:...; Question 103: Commonly used distribution system/s in the insurance industr...; Question 104: Relief from administrative details and continuity are the ma...; Question 105: "Ongoing monitoring activities are conducted to periodically...; Question 106: Following statements define risk EXCEPT:...; Question 107: The main purposes of the audit survey are to assist with fol...; Question 108: When purchasing a flood insurance policy, there is a standar...; Question 109: Financial institutions regularly identify uncollectible acco...; Question 110: Standard and poor's 500 index, the Dow Jones Industrial aver...; Question 111: Which one of the following audit objectives and steps should...; Question 112: Considerations for determining required audit resources incl...; Question 113: The plans developed for the audit functions should be update...; Question 114: Risks associated with compliance with laws and regulations m...; Question 115: __________ is a tool to transfer qualified investments from ...; Question 116: The reliability (competence) of evidence gathered by auditor...; Question 117: A trust agreement is called:; Question 118: Which of the following steps is/are NOT considered in the au...; Question 119: ______________ includes provision provided by issuers to red...; Question 120: Management of the lending institution sets a reserve for loa...; Question 121: Derivates can be effective low cost tools for managing expos...; Question 122: Back-office operations are _____________ as offshore operati...; Question 123: ___________ help bring performance back into compliance, or ...; Question 124: Individuals can invest in REITs:...; Question 125: Which one of the following dominates the banking industry?...; Question 126: Banks provide the following personal trust services for indi...; Question 127: The major benefit of risk assessment is:...; Question 128: General liability insurance covers the major liability expos...; Question 129: __________ allows businesses that sell durable goods such as...; Question 130: All of the following phrases are used to express the auditor...; Question 131: Purchasers of universal life policies specify the policy's f...; Question 132: Deposit accounts are either interest bearing or non-interest...; Question 133: The federal open market committee (FOMC) board sets reserve ...; Question 134: Surrender charges usually apply only if the annuity has been...; Question 135: Reasonable assurance relates to the:...; Question 136: Auditors must use professional judgment to determine the imp...; Question 137: Most certificates are held by the depository trust company a...; Question 138: __________pays damaged insured by the injured and the insure...; Question 139: The term umbrella market segmentation is referred to:...; Question 140: Electronic financial services audits should focus on whether...; Question 141: Annuities provide the annuitants with ________________....; Question 142: The purpose of audits of financial statements is to issue an...; Question 143: Not all misstatements will be material enough to affect the ...; Question 144: Most municipal and corporate bonds are rated by an independe...; Question 145: Five internal control components are:...; Question 146: Universal life policies are a form of permanent life insuran...; Question 147: Some specific requirements of securities and exchange 1934 A...; Question 148: Which one of the following is/are NOT the type of retirement...; Question 149: Financial institutions regularly identify uncollectible and ...; Question 150: Customer accounts: Ensure that the firm is exercising due di...; Question 151: ____________ is an electronic payment network used by indivi...; Question 152: During the posting process of ledger records on deposit acco...; Question 153: Personal trust accounts may be:...; Question 154: Interest rate risk arises from differences between the timin...; Question 155: The financial institutions' general ledger records activity ...; Question 156: An objective of an exit conference is that it provides the c...; Question 157: A manufacturer wants to protect the company from financial l...; Question 158: To the extent that the hedged relationship ceases to be effe...; Question 159: Risk assessment may be:; Question 160: Following elements should be documented in the audit scope E...; Question 161: Federal Reserve Board has:; Question 162: Preliminary prospectuses are often called:...; Question 163: Money market funds:; Question 164: Strategic planning is the process of taking a long-term view...; Question 165: Factor/s that influences/influence the state of an organizat...; Question 166: Some general criticisms on variable life insurance include a...; Question 167: "A valid contract involves each party giving something of va...; Question 168: Auditors should be aware that the investment objectives of a...; Question 169: Which one of the following statements is NOT the part of aud...; Question 170: Homeowner policies combine property and casualty coverage in...; Question 171: Which of the following is NOT included in the list of princi...; Question 172: Regulation D, an SEC rule governing the limited offer and sa...; Question 173: Which of the following would not generally be a responsibili...; Question 174: If a surgeon loses a hand, she may not be able to perform su...; Question 175: Most of the group health policies contain a _____________to ...; Question 176: I. Surrender Changes II. Mortality and Expense risk change I...; Question 177: Which one of the following questions is NOT considered when ...; Question 178: ___________ result from a failure to follow the logic of a s...; Question 179: An index method that credits index-linked interest based on ...; Question 180: The due from bank either credits the due to bank's account o...; Question 181: Which of the following should be the next step after the str...; Question 182: Which one of the following Factors does NOT ensure the finan...; Question 183: I - In term life insurance premium increase with age no cash...; Question 184: The entity has comprehensive, written credit risk management...; Question 185: Residential loans are usually secured by all EXCEPT:...; Question 186: Which one of the annuities, mentioned below, is not regulate...; Question 187: The extent to which an organization has implemented controls...; Question 188: Internal auditing controls (e.g. segregation of duties, moni...; Question 189: Which of the following way best defines disability insurance...; Question 190: A residential mortgage-related security that is rated invest...; Question 191: Trust under will is a term referred to:...; Question 192: Exception reports generated by the lending institution are d...; Question 193: These are used to speculate on the direction of interest rat...; Question 194: A sound data classification scheme sets the foundation for t...; Question 195: Group permanent life insurance often used:...; Question 196: Following is a list of background items auditors should revi...; Question 197: Banks should develop policies related to ALM, including spec...; Question 198: Known limitations of VaR methodology include the fact that c...; Question 199: Option's in major types of life insurance is/are:...; Question 200: All the activities, mentioned below, cause rise in interest ...; Question 201: A contract whereby one undertakes to indemnify another or pa...; Question 202: Auditors define audit objectives based on information gained...; Question 203: Interest rates offered on new CDs changes:...; Question 204: The trustee is responsible for producing a schedule of distr...; Question 205: In which of the following ways would the writer of an uncove...; Question 206: When one party trades a variable interest rate for a fixed i...; Question 207: IF a securitization transaction meets FAS 125 sale or servic...; Question 208: Off-balance-sheet usually means an asset or debt or financin...; Question 209: Basic control/s to consider when auditing derivates strategi...; Question 210: Financial services organizations are challenged to provide r...; Question 211: Nature of internal audit activities and quality criteria aga...; Question 212: Traditionally, insurance is paid:...; Question 213: Mutual funds provide an attractive investment choice because...; Question 214: Some organizations have information protection policies that...; Question 215: ____________ swaps give companies extra flexibility to explo...; Question 216: The enterprise- wide risk management approach focuses both o...; Question 217: Which one of the following is not commonly granted trustee's...; Question 218: Internal auditing:; Question 219: In SEC review process, if SEC believes that the registration...; Question 220: The balance sheet is the fundamental report of a company's f...; Question 221: Insurance companies assist individuals in managing personal ...; Question 222: The responsibility of setting an estate includes:...; Question 223: As interest rate change, the price of an issued bond also ch...; Question 224: Which of the following statements is NOT related to competen...; Question 225: It is a characteristic of insurance policy according to whic...; Question 226: Which of the following activity/ies should be considered by ...; Question 227: Some of the risks associated with bond funds are all of the ...; Question 228: Which one of the following is not including in typical type ...; Question 229: ___________ supervise domestic and international activities ...; Question 230: Deposit accounts are:; Question 231: Compliance risk can lead t[o all of the following situations...; Question 232: Which one of the following statements elaborates some insura...; Question 233: A gold producer wants to hedge his loses attributable to a f...; Question 234: Entrance Conference- The entrance conference may be the audi...; Question 235: The interagency statement calls for these disclosures to be ...; Question 236: Group insurance policies typically include a preexisting con...; Question 237: In the United States, banks are required to report cash depo...; Question 238: Feasibility studies and cost benefit analysis Approval proce...; Question 239: Types of barrowed funds include all EXCEPT:...; Question 240: The objective/s of trust department's administration of corp...; Question 241: Which two of the following characteristics apply to universa...; Question 242: Engagement client management often has a negative perception...; Question 243: Personal liability covers claims for bodily injury or proper...; Question 244: Which one of the following does NOT depicts a common indexin...; Question 245: Banks provide the following personal trust service/services ...; Question 246: You are auditing the claim handing of your branch office. Yo...; Question 247: Due from bank balances are used to:...; Question 248: Which of the following situation would not impair audit obje...; Question 249: Sarbanes Oxley and bases are:; Question 250: Which one of the following activities is not related to the ...; Question 251: Which of the following are NOT common funding vehicles used ...; Question 252: Site Selection Rationale (Exhibit) Client officials client/r...; Question 253: Examples of illegal sales practices may be:...; Question 254: Carefully crafted audit objectives are important BECAUSE:...; Question 255: A mutual fund that invested primarily in utility companies a...; Question 256: Basel Accord II's addition to key factors that an organizati...; Question 257: Derivatives can be:; Question 258: National banks must sell any real estate within _________ of...; Question 259: To server as family and/or financial planning tool (Exhibit)...; Question 260: General Market indices in the commodities market with which ...; Question 261: While performing consulting services internal auditors shoul...; Question 262: Which one of the following is an additional duty of trust de...; Question 263: Organization's Objectives are described in three general cat...; Question 264: Cash and due from other bank accounts that are listed as a c...; Question 265: Insurance contracts are also considered ____________ in that...; Question 266: Letters of credit are also known as:...; Question 267: Whole life policies accrue a cash value that the insurer mus...; Question 268: Issuance of licenses to insurance agents is one of the respo...; Question 269: Insurance products yield _________ compared to regular inves...; Question 270: While the SEC review is in progress, the issuer can circulat...; Question 271: Investors typically cannot ascertain the exact makeup of a f...; Question 272: Term Life insurance is available in which of the following v...; Question 273: Main areas within financial services are:...; Question 274: Some objectives of an audit related to mutual funds might in...; Question 275: _________ are future economic benefits controlled by an enti...; Question 276: It is a contract that defines corporation and bondholders re...; Question 277: Cash on hand refers to:; Question 278: Cash surrender life insurance is referred to:...; Question 279: Defined benefits & defined contribution plans and indivi...; Question 280: When looking at account receivables auditors should ensure:...; Question 281: Whole life policies offer lifetime coverage at a level premi...; Question 282: A __________ is a health insurance plan where medical treatm...; Question 283: A special servicer is the servicer who assumes servicing res...; Question 284: An example of an invalid deductive argument is as follows: M...; Question 285: All these statements elaborate purpose of standards EXCEPT:...; Question 286: There may be instances of massive losses, in case of derivat...; Question 287: ____________ are the instruments with maturities of 30 years...; Question 288: Continuous auditing is a method used to automatically perfor...; Question 289: A firm is trying to acquire another company. This is called ...; Question 290: Some organizations will strive to simply with the law; other...; Question 291: The second largest economic area in the world is:...; Question 292: Which of the following is a limitation in an audit that affe...; Question 293: How many member states of the European Union are participati...; Question 294: Auditors can use background information to define and modify...; Question 295: It provides additional living expenses when the home is unli...; Question 296: Which one of the following is an internal control component?...; Question 297: Bank loans can generally be classified in several ways EXCEP...; Question 298: Which one of the following is common misinterpretation durin...; Question 299: Charitable trust that is an irrevocable trust and that may b...; Question 300: "An element of information, from a transaction to an entire ...; Question 301: A financial institution's performance in helping to meet the...; Question 302: Overall "market risk" poses the greatest potential danger fo...; Question 303: Many businesses generally find CDs to be a:...; Question 304: One fund may invest on mostly established "blue chip" (Compa...; Question 305: Auditors testing mutual funds transactions will typically fo...; Question 306: Banks also serves as "registrar" for stocks and bond issues....; Question 307: Which one of the following is NOT an indicator of control we...; Question 308: The Federal Reserve System interacts with foreign central ba...; Question 309: The types of accounts that bear interest include savings acc...; Question 310: The SEC has 20 day__________ to review the materials before ...; Question 311: __________ agency system uses agents who sell the policies o...; Question 312: Securities available for sale should be reported at current ...; Question 313: Default risk is an alternate term used for:...; Question 314: Internal auditors, engaging in activities that are illegal a...; Question 315: When conducting an audit of securities investments, the foll...; Question 316: The primary objective/s of ECB is/are:...; Question 317: Shareholders also have the right to receive declared dividen...; Question 318: Cash equivalent may include:; Question 319: Adequate procedures and controls associated with swap transa...; Question 320: Notes are debt instruments issued to:...; Question 321: Other asset categories are mentioned in:...; Question 322: Information technology general controls set the foundation f...; Question 323: Checking account may pay interest. Checking accounts that pa...; Question 324: The mission of the NAIC is to assist State Insurance regulat...; Question 325: Which statement is correct concerning commercial letters of ...; Question 326: Managed care health techniques are most often practical by o...; Question 327: Time deposit transactions are recorded in:...; Question 328: Audit objectives that apply to one sales portion are all EXC...; Question 329: Asset Management is the term usually given to describe compa...; Question 330: Which of the following is NOT the benefit of an endowment in...; Question 331: Office of the comptroller of the currency:...; Question 332: Obtaining feedback from client management throughout the aud...; Question 333: Insurance policies are good for insurance needs, however, as...; Question 334: Demand deposit account allows customers to transfer money th...; Question 335: Risks inherent in the management process are known as:...; Question 336: Under the interagency statement when a bank recommends or se...; Question 337: The U.S government is the largest borrower in the world and ...; Question 338: Pension plans that an Employer establishes for retired or di...; Question 339: When the maturity date of the annuity arrives, the insurer b...; Question 340: Standards related to information technology are not as well-...; Question 341: Foreign currency futures contracts may be legitimately trade...; Question 342: Employee benefits are generally considered non-wage compensa...; Question 343: ECB performs all these tasks EXCEPT:...; Question 344: Once the underwriter has reviewed all of the file documentat...; Question 345: The risks associated with operating objectives include all o...; Question 346: Insurance in law and economics, is a form of risk management...; Question 347: All of these are disadvantages of mutual funds EXCEPT:...; Question 348: ____________insurance provides a specified benefit amount in...; Question 349: Both veteran affairs department and the Federal Housing Admi...; Question 350: For Example one exception in 1000 cases is probably not the ...; Question 351: Management must ___________ assess business risk and develop...; Question 352: A UIT typically issues redeemable securities (or "units"), l...; Question 353: Whole life insurance protects for:...; Question 354: Which of the following is not an audit objective of a commod...; Question 355: Which of the following is/ are the responsibility /ies of st...; Question 356: A derivative with a convex payoff-profile at some point befo...; Question 357: Auditors should be aware of the following control and monito...; Question 358: Hospitals document reserves as that portion of the accounts ...; Question 359: "An incoming wire transfer with instruction to pay the benef...; Question 360: All lending institutions assume some loans will not be repai...; Question 361: These are similar to coupon bonds in that ownership is based...; Question 362: COBIT (Control Objectives for Information and Related Techno...; Question 363: Most corporations have an annual meeting where stockholders ...; Question 364: ___________ bank balances are bank assets on deposit in othe...; Question 365: The accounting standards in the United State are:...; Question 366: For refinancing home and mortgage loans for example, the und...; Question 367: Leases allow a customer to use an institution's property for...; Question 368: The two most common types of commercial insurance companies ...; Question 369: Typically, the costs associated with receiving care from the...; Question 370: Correspondent banks, Credit party, Draw down, Execution date...; Question 371: Federal Reserve's duties fall into following general areas E...; Question 372: Risks related to assets/liability management that auditors s...; Question 373: When a loan becomes delinquent or when collection seems unli...; Question 374: Agents that represent one company exclusively are called:...; Question 375: Asset/Liability (ALM) is a short and long term planning tool...; Question 376: These occur when two parties trade currencies at a mutually ...; Question 377: The administration of personal trust accounts is primarily c...; Question 378: The actual amount of payment the annuitant pays is based on:...; Question 379: Securities lending refers to the practice of temporarily tra...; Question 380: Money market funds bond funds (also called "fixed income" fu...; Question 381: A sound Asset/Liability management policy must manage follow...; Question 382: Unsecured bonds are not backed by assets and provide no clai...; Question 383: Initially, back-office operation were created as captives of...; Question 384: An organization might decide that the risk of fire is high s...; Question 385: Trust departments provide services to publicly held companie...; Question 386: The Federal Reserve issue oral or written statement to encou...; Question 387: These are the most common type of municipal bonds and are ba...; Question 388: A health services delivery organization that offers the opti...; Question 389: A less satisfactory option in dental insurance is the:...; Question 390: ___________ are a type of mutual funds that is required by l...; Question 391: The responsibility for preparing and presenting the audited ...; Question 392: Which of the following does NOT come under the consideration...; Question 393: At the end of the day all funds in a non-interest bearing ch...; Question 394: High-risk scores are those with an average of scores:...; Question 395: The European Central Bank is the central bank for the Europe...; Question 396: Trading securities are securities that a bank intends to sel...; Question 397: Stock transfer agent, Bond registrar, stock registrar and di...; Question 398: All members of a group insurance plan (group insureds) are c...; Question 399: If participation rate in an equity indexed entity is 80% and...; Question 400: Reviewing counterparties for creditworthiness and obtaining ...; Question 401: Internal audit routinely reviews compliance risk and also sh...; Question 402: CDs typically require a minimum deposit of at least ________...; Question 403: A bank may serve as ___________ for a company's employee ben...; Question 404: Which of the following is NOT the requirement of Exempt Secu...; Question 405: The primary mechanism for estimating potential losses is mat...; Question 406: Corporations, government entities and other organizations us...; Question 407: A bond currently priced at $1,250 with a 10% nominal yield o...; Question 408: Securities products include: 1. Trusts 2. Annuities 3. Deriv...; Question 409: I- A gold producers wants to hedge his losses attributable t...; Question 410: The management of index funds is _________ than the manageme...; Question 411: HMO (Health maintenance organization) must meet the specific...; Question 412: An entity that purchases and sells securities on its own beh...; Question 413: Theory of life insurance is evolved from:...; Question 414: Major types of Real Estate Investment Trust (REITs) include ...; Question 415: If a mutual fund has an NAV of $100 million, and investors o...; Question 416: Following are the examples of illegal sales practice EXCEPT:...; Question 417: _____________ insures two lives under one policy. Death bene...; Question 418: If interest rates fall, a bond issuer may decide to pay off ...; Question 419: Insurance industry is regulated by:...; Question 420: Optional basic and supplement life insurances are the varian...; Question 421: "A negotiated offering in which a new issue of municipal sec...; Question 422: Notes and bonds are long-term debt instruments. Long-term de...; Question 423: Which of the following are generally considered to be charac...; Question 424: The risk analysis process involves all of the following step...; Question 425: Commercial, residential and consumer are three basic types o...; Question 426: When one buys a cash instrument, for example 100 shares of A...; Question 427: Example/s of ongoing monitoring function/s is/are:...; Question 428: The fund prospectus is the document that provides a general ...; Question 429: Which one of the following generally pays higher rates of in...; Question 430: A commercial or consumer loan made to foreign branch of a la...; Question 431: Bond yield is the return on a bond. Which of the following t...; Question 432: New Zealand's major trading partners are in the process of a...; Question 433: If a corporation has an asset sensitive gap in a rising rate...; Question 434: In effect to protect customers from unsubstantiated or undoc...; Question 435: ___________ have relatively low risks, compared to other mut...; Question 436: A client makes the following statement: "If you make us put ...; Question 437: Some of the countries that do not permit companies to use IA...; Question 438: All the statements mentioned below are clear and compelling ...; Question 439: Funds held in trust cannot be reinvented in:...; Question 440: Asset/liability management is a planning tool designed to ma...; Question 441: Selectively increasing the price of a mortgages loan above t...; Question 442: Some small businesses keep funds in a savings account to gai...; Question 443: Policy holders of whole life insurance use the cash dividend...; Question 444: The "combined ratio" of an insurance company is the ratio fr...; Question 445: Close-end funds:; Question 446: The primary regulatory entities for banking include all EXCE...; Question 447: In a price risk situation if customers withdraw their applic...; Question 448: Recent turmoil in the financial markets illustrate the volat...; Question 449: Insurance companies decide on a _________ whether an investi...; Question 450: _________ insures the real estate loans of borrowers who qua...; Question 451: The term "thrift institution" is referred to:...; Question 452: Asset-based financing involves loans that are secured by the...; Question 453: Which one of the following is NOT the rule of National Assoc...; Question 454: The primary regulatory entities of banking industry include:...; Question 455: _____________ funds may specialize in a particular industry ...; Question 456: ___________ are investment securities that do not fall under...; Question 457: "Audit management must decide whether to sample (judgment or...; Question 458: Which of the following statements about the over-the-counter...; Question 459: Banks generally record securities transactions as of trade d...; Question 460: "Insurers guarantee a minimum rate of interest dunning the t...; Question 461: Many group disability income policies contain a physical exa...; Question 462: Banks that performs variety of services for other bank, e.g....; Question 463: Which of the following are duties of insurance commissioners...; Question 464: In utilization management, utilization reviews begin with a ...; Question 465: Business continuation insurance protects a business against ...; Question 466: If investment returns are very poor, this could lead to:...; Question 467: A participant's right to receive partial or full benefits un...; Question 468: Data gathering and evaluation during field work includes:...; Question 469: Life insurance policy in which two people are covered on one...; Question 470: The "discount on bonds payable" account is __________when a ...; Question 471: Which of the following best suits in place of question mark?...; Question 472: Securities are divided into five categories. Type I securiti...; Question 473: In case of an annuity with a spread of 3%, if the index gain...; Question 474: Both residual and control risk need to be_______________ dea...; Question 475: The auditor should plan an audit with an attitude of:...; Question 476: After implementation of a drop out recovery program, employm...; Question 477: Endowment policies are similar to___________ policies in tha...; Question 478: An area of FOMC board responsibilities is the development an...; Question 479: Preferred stock is similar to common stock in that it repres...; Question 480: End users need to hedge the prices at which they can purchas...; Question 481: Insiders are generally barred from:...; Question 482: A statement of cash flows in a financial report that shows i...; Question 483: Which of the following is least expensive form of life cover...; Question 484: I- With reference to the granting of customer credit lines a...; Question 485: The benefits of an endowment insurance policy include all of...; Question 486: If principal is paid on a loan after it has been placed on n...; Question 487: Underwriting decisions are more influenced by what underwrit...

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