IIA IIA Certifications IIA-CFSA Questions & Answers

• Question 181:

  Cash and due from other bank accounts that are listed as a caption on the balance sheet include all currency and coin, cash being collected, and account balances with other banks:

  A. Except material-interest-bearing accounts which should be disclosed separately

  B. Including material interest bearing accounts, which should be disclosed separately.

  C. Preferably material interest bearing accounts.

  D. None of these

  Correct Answer: A

• Question 182:

  ___________ bank balances are bank assets on deposit in other banks.

  A. "Due from"

  B. "Due to fixed reserves

  C. "Due from reserves"

  D. Both Band C

  Correct Answer: A

• Question 183:

  The due from bank either credits the due to bank's account or pays the due to bank directly with a ______________.

  A. Cheque

  B. Bank draft

  C. EFT (Electronic Funds Transfer)

  D. ATM

  Correct Answer: B

• Question 184:

  Banks that performs variety of services for other bank, e.g. they make emergency loans to banks that are short of cash and clear cheques that are drawn and paid out by different banks are called:

  A. Community Banks

  B. Regional Banks

  C. Federal Reserve Banks

  D. Credit unions

  Correct Answer: C

• Question 185:

  Deposit in many banks are insured by the ______________, which ensure that depositors will get their money back up to a stated limit, if a bank should fail:

  A. Financial Deposit Insurance Corporation

  B. Federal Deposit Insurance Corporation

  C. Federal Deposits and Investment committee

  D. None of these

  Correct Answer: B

• Question 186:

  _________ are future economic benefits controlled by an entity.

  A. Stocks

  B. Assets

  C. Equity

  D. None of these

  Correct Answer: B

• Question 187:

  The term "thrift institution" is referred to:

  A. Savings banks

  B. Savings and loan associations

  C. Saving banks and saving loan associations

  D. Mortgage banks

  Correct Answer: C

• Question 188:

  Which one of the following dominates the banking industry?

  A. Savings Banks

  B. Commercial banks

  C. Credit Unions

  D. Mortgage Bankers

  Correct Answer: B

• Question 189:

  A financial institution's performance in helping to meet the credit needs of its community is evaluated in context of information about:

  A. Institution (Capacity, Constraints and business strategies)

  B. Institution's community (demographic and economic data, lending, investment and serviceopportunities

  C. Competitors and peers

  D. All of these

  Correct Answer: D

• Question 190:

  A firm is trying to acquire another company. This is called ____________, and all the participants involved must register with the SEC.

  A. Proxy contest

  B. Merger

  C. Acquisition

  D. Both A and C

  Correct Answer: D