IIA-CFSA Leak Questions

Certified Financial Services Auditor Questions and Answers

Question 49

There are different classes of mutual funds. Classes that typically do not have a front-end sales load. Instead they may impose a contingent deferred sales load and a 12b-1 fee (along with other annual expenses) is called:

Options:

Class A

Class B

Class C

Both B&C

Question 50

Which of the following is not an audit objective of a commodity department?

Options:

All customer accounts are opened and maintained in accordance with the rules and regulations commodity futures trading commission (CFTC) and the various commodity Exchanges

Adequate control exist to ensure the accuracy and propriety of information contained in regulatory reports, such as the commodity futures trading commission form 1-FR, and the focus report

Verify the accuracy and reporting (inventory reports, fail reports, again reports and profit and loss reports.)

None of these

Question 51

Which of the following is least expensive form of life coverage, at least initially?

Options:

Variable life insurance

Whole life insurance

Term life insurance

Permanent life insurance

Question 52

In which of the following ways would the writer of an uncovered call usually make a profit?

I. The call expires

II. The underlying stock splits

III. The underlying stock goes up in price

IV. The underlying Stock goes down in price

Options:

III only

I and IV only

II and IV only

I, II, and III only

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Certified Financial Services Auditor Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce