IIA-CFSA Exam Questions

A major function of NAIC is to encourage __________ among state insurance departments through

Which one of the following statements elaborates some insurance products that fall under the regulatory authority of SEC?

Some specific requirement of securities Exchange Act of 1934 are all of the following EXCEPT:

Insiders are generally barred from:

Which of the following type/s of company/ies is/are defined by Investment company act?

Which of the following are typical information system controls that are used to ensure properly authorized transaction?

If a corporation has an asset sensitive gap in a rising rate environment, which of the following would be considered an appropriate hedging strategy to prevent a decrease in net in...

While the SEC review is in progress, the issuer can circulate a preliminary prospectus to determine the interest in issue. The preliminary prospectus must include all of the follow...

Preliminary prospectuses are often called:

Some specific requirements of securities and exchange 1934 Act are:

Which of the following is NOT the requirement of Exempt Securities Act?

In SEC review process, if SEC believes that the registration statement contains false or misleading information or that pertinent information has been omitted, it can suspend the p...

The SEC has 20 day__________ to review the materials before registration; however, the period is often longer than 20 days as the SEC may request additional information from the is...

Insider rule/s:

A firm is trying to acquire another company. This is called ____________, and all the participants involved must register with the SEC.

A financial institution's performance in helping to meet the credit needs of its community is evaluated in context of information about:

Which one of the following dominates the banking industry?

The term "thrift institution" is referred to:

Banks that performs variety of services for other bank, e.g. they make emergency loans to banks that are short of cash and clear cheques that are drawn and paid out by different ba...

Deposit in many banks are insured by the ______________, which ensure that depositors will get their money back up to a stated limit, if a bank should fail:

_________ are future economic benefits controlled by an entity.

___________ bank balances are bank assets on deposit in other banks.

The due from bank either credits the due to bank's account or pays the due to bank directly with a _______

Cash and due from other bank accounts that are listed as a caption on the balance sheet include all currency and coin, cash being collected, and account balances with other banks:

Repos and Reverse repos govern instances such as:

The types of accounts that bear interest include savings accounts, negotiable orders of withdrawal (NOW) accounts, and certificates of deposit. These interest bearing accounts are...

Trading securities are securities that a bank intends to sell within a short period, usually less than:

It should be an immediate decision:

Banks should account for trading securities at market value. Any changes in cost should be regarded as a/an:

Securities available for resale, by the bank, should be reported at

Bank loans can generally be classified in several ways EXCEPT:

Banks often make loans to officers, directors, employees, and principal shareholders. Discloser of these related-party transactions is required:

Asset-based financing involves loans that are secured by the borrower's:

__________ allows businesses that sell durable goods such as automobiles to finance inventories. As the business sells goods, the loan advance against those goods is repaid.

Residential loans are usually secured by all EXCEPT:

_________ insures the real estate loans of borrowers who qualify for the program.

Both veteran affairs department and the Federal Housing Administration require an appraisal by a certified or licensed real estate appraiser for transaction valued at

Leases allow a customer to use an institution's property for a specified period. Most lease agreements give the lessee the option of purchasing the property:

A commercial or consumer loan made to foreign branch of a large bank is also considered as:

National banks must sell any real estate within _________ of acquisition if it is not used for banking purpose.

Letters of credit are also known as:

Checking account may pay interest. Checking accounts that pay interest are referred as a:

CDs typically require a minimum deposit of at least ________ US, and often require at least ________ US.

__________ is a tool to transfer qualified investments from one account to another. In order to retain certain special tax treatments, funds may not be co-mingled with other types...

Types of barrowed funds include all EXCEPT:

Notes are debt instruments issued to:

The "discount on bonds payable" account is __________when a bound sells at discount. The "premium on bond payable" is ____________ when a bond sells a premium.

____________ is an electronic payment network used by individuals businesses, financial institutions and government organizations. It provide better cash management capabilities an...

Correspondent banks, Credit party, Draw down, Execution date, Remitter, and Repetitive transfer are some terminologies related to:

"An incoming wire transfer with instruction to pay the beneficiary upon presentment of proper identification. The beneficiary usually does not maintain a checking or savings accoun...