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Certified Financial Services Auditor

Exam Details

  • Exam Code
    :IIA-CFSA
  • Exam Name
    :Certified Financial Services Auditor
  • Certification
    :IIA Certifications
  • Vendor
    :IIA
  • Total Questions
    :511 Q&As
  • Last Updated
    :Apr 12, 2025

IIA IIA Certifications IIA-CFSA Questions & Answers

  • Question 161:

    Checking account may pay interest. Checking accounts that pay interest are referred as a:

    A. Saving deposit

    B. Direct deposit

    C. MMDAS (money market deposit account)

    D. Negotiable order of withdrawal account (NOW)

  • Question 162:

    Letters of credit are also known as:

    A. Allowance for loan losses

    B. Bond indentures

    C. Term certificate

    D. Customer acceptances

  • Question 163:

    Other asset categories are mentioned in:

    A. Audited Balance sheet

    B. Unaudited balance sheet

    C. Balance sheet only when they are material

    D. Other books of account

  • Question 164:

    A commercial or consumer loan made to foreign branch of a large bank is also considered as:

    A. A Federal Government loan

    B. International loan

    C. Financial insurance loan

    D. Term loan

  • Question 165:

    National banks must sell any real estate within _________ of acquisition if it is not used for banking purpose.

    A. Three years

    B. Fourteen years

    C. Four years

    D. Five years

  • Question 166:

    Leases allow a customer to use an institution's property for a specified period. Most lease agreements give the lessee the option of purchasing the property:

    A. at principal amount

    B. below fair market value

    C. above fair market value

    D. None of these

  • Question 167:

    Residential loans are usually secured by all EXCEPT: A. Mortgages

    B. Current Assets

    C. Deed of truest

    D. Land contracts

  • Question 168:

    _________ insures the real estate loans of borrowers who qualify for the program.

    A. Federal Housing Administration

    B. Department of veterans Affairs

    C. Mortgage Brokers

    D. None of these

  • Question 169:

    Both veteran affairs department and the Federal Housing Administration require an appraisal by a certified or licensed real estate appraiser for transaction valued at:

    A. 200,000or more

    B. 250,000 or more

    C. 225,000-or more

    D. 500,000 or more

  • Question 170:

    Asset-based financing involves loans that are secured by the borrower's:

    A. Fixed assets

    B. mortgages

    C. Current assets

    D. All of these

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