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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
    :Mar 24, 2025

IIA IIA Certifications IIA-CFSA Questions & Answers

  • Question 431:

    Some small businesses keep funds in a savings account to gain interest on:

    A. Fixed assets

    B. Liquid assets

    C. Loans

    D. All of these

  • Question 432:

    Which one of the following generally pays higher rates of interest than saving accounts?

    A. Money market deposit accounts

    B. Certificates of deposit

    C. Term loans

    D. Asset-based financing

  • Question 433:

    Deposit accounts are:

    A. Interest bearing accounts

    B. Non-interest bearing accounts

    C. Tax bearing accounts

    D. Either A or B

  • Question 434:

    If principal is paid on a loan after it has been placed on non-accrual status, the bank must determine whether it should record the payment as a reduction of:

    A. The loan principal amount

    B. Income interest

    C. Both of these

    D. Any one of these

  • Question 435:

    Financial institutions regularly identify uncollectible accounts and charge them off against the reserve of:

    A. Unearned loan revenue

    B. Loan losses

    C. Loan expenses

    D. All of these

  • Question 436:

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

    A. Customers name and account information

    B. Loan balance outstanding

    C. Available collateral and its estimated value

    D. All of these

  • Question 437:

    If more funds than expected are needed to cover loans losses in a given period, the reserve must be increased and the difference is charged to:

    A. Administration expenses

    B. Prepaid assets

    C. Operating expenses

    D. Loan expenses

  • Question 438:

    When a loan becomes delinquent or when collection seems unlikely, banks often suspend:

    A. Accrual of interest

    B. Deferral of interest

    C. Loan losses

    D. Loan prepayments

  • Question 439:

    Types of commercial loans are /are:

    A. Installment loans

    B. Floor plan financing

    C. Asset-based financing

    D. Both B and C

  • Question 440:

    Management of the lending institution sets a reserve for loan losses at a given point based on such factors as mentioned below EXCEPT:

    A. Number and type of loans made

    B. Quality of loans made

    C. Historical loss experience

    D. Loan portfolio

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