Legit IIA-CFSA Exam Download

Certified Financial Services Auditor Questions and Answers

Question 17

Risks inherent in the management process are known as:

Options:

Residual risks

Long-term risks

Control risks

Strategic risks

Question 18

Compliance testing is designed primarily to:

Options:

Hold detection risk to an acceptable level

Determine whether policies and procedures have been followed

Determine that account balances exit, are accurate, and are properly classified

Provide evidence about monetary misstatements

Question 19

Watch lists of loans that are in danger of becoming delinquent generally contain information on such as:

Options:

Customers name and account information

Loan balance outstanding

Available collateral and its estimated value

All of these

Question 20

An organization might decide that the risk of fire is high so it will pay a high premium on its fire insurance policy to transfer the risk as much as possible. However, the organization will still have to pay deductible amount on the policy if a fire occurs. This scenario depicts:

Options:

Assessment of the likelihood that a given risk will occur

Control the risk

Accept the risk

Transfer the risk

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Certified Financial Services Auditor Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce