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IIA-CFSA Exam Dumps - Certified Financial Services Auditor

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Question # 17

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

A.

Non-Profit groups

B.

Private placement

C.

Fees for underwriter of the issue.

D.

fixed annuity contracts and insurance policies.

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Question # 18

__________ 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.

A.

Term loans

B.

Short-term working

C.

capital loans

D.

Floor-plan financing

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Question # 19

Federal Reserve Board has:

A.

Monetary policy

B.

Regulatory responsibilities

C.

Supervisory responsibilities

D.

All of these

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Question # 20

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

A.

Fixed assets

B.

mortgages

C.

Current assets

D.

All of these

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Question # 21

The primary regulatory entities of banking industry include:

A.

Federal reserve system

B.

Office of the comptroller of the currency

C.

Federal deposit insurance Cooperation

D.

All of these

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Question # 22

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 interest income?

A.

Take no action

B.

Purchase an interest rate floor

C.

Enter into an interest rate swap to receive fixed and pay floating rate payments

D.

Enter into an interest rate swap to receive floating and pay fixed rate payment

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Question # 23

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

A.

To define a maximum cash value per death benefit and to define a maximum premium for a given death benefit

B.

To define a minimum cash value per death benefit and to define a moderate premium for a given death benefit

C.

To define a maximum cash value per death benefit and to define a moderate premium for a given death benefit

D.

None of these

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Question # 24

The mission of the NAIC is to assist State Insurance regulators, individually and collectively, in serving the public interest and achieving all the following fundamental insurance regulatory goals in a responsive, efficient and cost effective manner, consistent with the wishes of its members EXCEPT:

A.

Protect the public interest

B.

Promote competitive markets

C.

Support and improve State regulation of insurance

D.

None of these

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