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IIA-CFSA Exam Dumps - Certified Financial Services Auditor

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Question # 65

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

A.

Contributing.

B.

Accumulating.

C.

Vesting.

D.

Non-revocation.

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Question # 66

Close-end funds:

A.

Are not redeemable

B.

The investment portfolios generally are managed by separate entities

C.

Are permitted to invest in a greater amount of “illiquid” securities than mutual funds.

D.

All of these

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Question # 67

_____________ funds may specialize in a particular industry segment, such as technology or consumer products stocks.

A.

Index

B.

Sector

C.

Growth

D.

Income

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Question # 68

Endowment policies are similar to___________ policies in that premiums are usually level through the term of policy and the policies build cash values.

A.

Permanent life insurance

B.

Straight life insurance

C.

Whole life insurance

D.

Universal life insurance

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Question # 69

A health services delivery organization that offers the option to its members to choose to receive a service from participating or a non-participating provider. Which one of the best suits to this definition?

A.

Point-of-service plan

B.

Health maintenance organization (HMO)

C.

Preferred provider organization (PPO)

D.

Independent practice Association (IPA) or organization (IPO)

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Question # 70

Optional basic and supplement life insurances are the variants of:

A.

Ordinary life insurance

B.

Group life insurance

C.

Accidental death and Dismemberment

D.

None of these

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Question # 71

A manufacturer wants to protect the company from financial loss resulting from third-party lawsuits. The manufacturer has learned of several recent jury awards over $7 million for product defects. The manufacturer currently has only $5 million in this type of coverage. The manufacturer has also learned that several automobile claims have been recently awarded against other company’s cars in accidents over $1 million. The manufacturer has damaged his competition and the manufacturer wants to protect his company further than the current policy allows. What insurance coverage product will the manufacturer likely buy?

A.

A personal injury protection (PIP) policy to protect others from personal injury

B.

An umbrella policy to place a protective umbrella over existing coverage.

C.

A surplus lines policy to protect against claims in surplus of the policy limits.

D.

A floater policy to float coverage where needed.

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Question # 72

____________ swaps give companies extra flexibility to exploit their comparative advantage in their respective borrowing markets.

A.

Fixed-floating swaps

B.

Currency swaps

C.

Interest rate swaps

D.

None of these

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