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IIA-CFSA Exam Dumps - Certified Financial Services Auditor

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Question # 25

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

A.

Bank eligible securities

B.

Stable obligations

C.

Mortgage related securities

D.

Marketable investment grade securities

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Question # 26

Residential loans are usually secured by all EXCEPT:

A.

Mortgages

B.

Current Assets

C.

Deed of truest

D.

Land contracts

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Question # 27

The term “thrift institution” is referred to:

A.

Savings banks

B.

Savings and loan associations

C.

Saving banks and saving loan associations

D.

Mortgage banks

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Question # 28

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

A.

Realized gain

B.

Unrealized loss

C.

Unrealized gain or loss

D.

none of these

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Question # 29

Some general criticisms on variable life insurance include all EXCEPT:

A.

High cost

B.

Flexible premiums

C.

Limited in investment choices

D.

Investment risk is unknown

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Question # 30

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 registrar is/are:

A.

To ensure that the transfer agent does not issue too many shares

B.

That old certificates are properly cancelled

C.

That new certificates are properly issued in the correct numerical sequence

D.

All of these

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Question # 31

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

A.

Institution (Capacity, Constraints and business strategies)

B.

Institution’s community (demographic and economic data, lending, investment and serviceopportunities

C.

Competitors and peers

D.

All of these

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Question # 32

Whole life policies offer lifetime coverage at a level premium rate that does not increase as the insured ages. Whole life policies are classified in all of the below mentioned categories EXCEPT:

A.

Continuous premium policies

B.

Limited payment policies

C.

Decreasing life policies

D.

Single premium policies

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