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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 261:

    Asset Management is the term usually given to describe companies that run manual Funds. The largest are those who provide:

    A. Passive Funds

    B. ETF (Exchange traded funds)

    C. Index Funds

    D. All of the above

  • Question 262:

    The most common index funds tries to tracks the SandP 500 by purchasing all 500 stocks using the same percentage as the index. Other indices that mutual funds try to copy include all of the following EXCEPT:

    A. Russell 2000

    B. Wilshire 5000

    C. MCSI-EAFE

    D. None of these

  • Question 263:

    The primary mechanism for estimating potential losses is mathematical methodology, value at risk ("VaR") which estimates the exposure to market risk:

    A. Within a given level of risk, over a defined time period

    B. Within a given financial arrange over a specified level of risk

    C. Within an unlimited time period over a specified level of risk

    D. None of these

  • Question 264:

    Basel Accord II's addition to key factors that an organization encounters is:

    A. Credit Risk

    B. Market Risk

    C. Operational Risk

    D. Liquidity Risk

  • Question 265:

    An intelligent risks management platform approaches risk from the:

    A. Higher level

    B. Moderate level

    C. Low/ operational level

    D. Both A and B as it depends

  • Question 266:

    All the statements mentioned below are clear and compelling business benefits of a strategic approach to enterprise-wide risk intelligence; EXCEPT:

    A. Remove disputes about whose information is "correct"

    B. Improves cross-function, enterprise level analysis.

    C. Provides a reusable enterprise intelligence plat form, able to adders new needs

    D. None of these

  • Question 267:

    Risk assessment may be:

    A. Quantitative only

    B. Qualitative only

    C. Both AandB

    D. Qualitative in general and quantitative in specific

  • Question 268:

    EFRAG is the abbreviation of:

    A. European Federation Reporting Advisory group

    B. European Financial Reporting Advisory group

    C. European Financial and Replacement Advisory group

    D. European Financial Reporting Administration group

  • Question 269:

    The risks associated with operating objectives include all of the following EXCEPT:

    A. Customer requirements

    B. Technology

    C. Competitor

    D. Financial institute

  • Question 270:

    Risks associated with compliance with laws and regulations may actually _________ impact ________ in ________. Choose the correct set.

    A. Positively, agencies, long term

    B. negatively, goals, short term

    C. negatively, institutions, short term

    D. None of these

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