IIA-CFSA Exam Questions

Banks provide the following personal trust services for individuals EXCEPT:

Which one of the following is an additional duty of trust department?

Pension plans that an Employer establishes for retired or disabled employees, regardless of whether an employee contributes, are known as:

Pension Benefit Guarantee Corporation (PBGC) insures "Defined benefit plan", so employees assume _____________ for any option they contribute.

Banks also serves as "registrar" for stocks and bond issues. The registrar accounts for all shares issued, certificates outstanding, and Certificates cancelled. The role/s of the r...

Securities are divided into five categories. Type I securities are also known as:

Asset/Liability (ALM) is a short and long term planning tool designed to maximize earnings. ALM tries ALM policy must manage following types of risks EXCEPT:

There may be instances of massive losses, in case of derivatives, most notably by __________________, these have not had repercussions.

All the activities, mentioned below, cause rise in interest rate EXCEPT:

The primary regulatory entities of banking industry include:

Which of the following are generally considered to be characteristics of savings deposits? I.Interest bearing. II. No stated maturity. III. Penalty for withdrawal.

Which statement is correct concerning commercial letters of credit?

Which of the following would not generally be a responsibility of an underwriting department?

A sound Asset/Liability management policy must manage following risk EXCEPT:

When one party trades a variable interest rate for a fixed interest rate or vice versa then __________ occurs.

____________ is a form of insurance, to move risk from someone major loss to someone who could absorb the loss, or is able to hedge against the risk by buying some other derivative...

The primary regulatory entities for banking include all EXCEPT:

Federal Reserve Board has:

___________ supervise domestic and international activities of national banks and perform corporate analysis.

Office of the comptroller of the currency:

CAMEL is an acronym that comes from the key areas of a financial institution's safety and soundness examination. It stands for:

Adequate solution for insurance coverage is that:

________ are insurance company representatives with the authority to sell the company's product.

Insurance Brokers work for:

Following are the examples of illegal sales practice EXCEPT:

A major type of personal selling distribution system is the:

Insurance in law and economics, is a form of risk management primarily used to:

A contract whereby one undertakes to indemnify another or pay a specified amount upon determinable contingencies is called:

Which one of the following is not including in typical type of insurance:

Life insurance includes all of following the products EXCEPT:

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

Variable life insurance is:

Theory of life insurance is evolved from:

If investment returns are very poor, this could lead to:

In variable universal life (VUL) policies the maximum premium standard set was:

In variable life insurance the number and type of insurance choice available are dependent on insurer, but some policies are available with a wide variety of separate accounts also...

Some general criticisms on variable life insurance include all EXCEPT:

Life insurance policy in which two people are covered on one policy is called:

At times when you have more money available, you can pay as if it were a whole life policy and accumulate cash value on a tax deferred basis. It is the advantage of:

Which of the following is least expensive form of life coverage, at least initially?

Term Life insurance is available in which of the following variant?

Cash surrender life insurance is referred to:

Group permanent life insurance often used:

Optional basic and supplement life insurances are the variants of:

Disadvantages of term life insurance to buyers are all EXCEPT:

Whole life insurance protects for:

The "combined ratio" of an insurance company is the ratio from combining which of the following?

A participant's right to receive partial or full benefits under a private retirement plan even if the participant terminates employment prior to retirement is referred to as

Which of the following are duties of insurance commissioners in regulating insurers?

You are auditing the claim handing of your branch office. You note that one of the claims is for lost revenue due to a windstorm damaging the building. The claim file states that t...