IIA-CFSA Questions and Answers

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Certified Financial Services Auditor: IIA-CFSA

Rating: 4.8

Vendor: IIA

Certifications: Certified Government Auditing Professional

Exam Name: Certified Financial Services Auditor

Exam Code: IIA-CFSA

Total Questions: 511 Q&As

Last Updated: Jan 18, 2023

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Same Questions from the Latest Real Exam

IIA-CFSA Online Practice Questions and Answers

Questions 1

Employee benefits are generally considered non-wage compensations designed to enhance any employee's salary compensation. However, it should be noted that payroll is one of the largest operating expense in many banks. Losses can occur if a bank does not have adequate controls over this function. The largest risk/s bank face in this function is/are:

A. Making salary payments to employees no longer on the payroll

B. Paying employees for unearned overtime, sick time, or vacation time

C. Entering improper or unauthorized salary

D. All of these

Show Answer
Questions 2

Whole life policies accrue a cash value that the insurer must surrender to the policyholder if the policy does not remain in force until the policyholder's death. The actual cash value payable to the policyholder in this circumstance would be:

A. Plus any surrender charges

B. Less any surrender charges

C. Plus policy repayments outstanding

D. Less any surrender charges and policy repayments outstanding

Show Answer
Questions 3

Letters of credit are also known as:

A. Allowance for loan losses

B. Bond indentures

C. Term certificate

D. Customer acceptances

Show Answer More Questions

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