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Certified Financial Services Auditor Questions and Answers

Question 13

When a bank charges off a loan as a loss, it reduces an account called the”_____________”

Options:

Lease payable

Lease Expense

Allowance of loans and lease losses

Prepaid loans and lease

Question 14

IF a securitization transaction meets FAS 125 sale or servicing criteria, the seller must recognize any gain or loss on the sale of the pool immediately and carry any retained interests in the assets sold ( including servicing rights/obligation and interest-only strips) at ____________.

Options:

Principal value

Fair value

Premium Amount

Both A&C

Question 15

Which of the following should be the next step after the structuring process in order to complete the securitization process?

Options:

Credit management

Credit operations

Credit Enhancement

Credit deployment

Question 16

Insurance policies are good for insurance needs, however, as a main investment vehicles, they have considerable downsides.

Options:

A majority of a premium payments is “part of commission” a small percent of your moneygoes towards the investment avenue.

The guaranteed cash value, or accumulation value of your investment is normally such a low percentage, typically one to three percent.

You would be much better off using a traditional investment vehicle than an insurance policy as an investment

Only A & B

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Certified Financial Services Auditor Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce