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Vendor: IIA
Exam Code: IIA-CFSA
Exam Name: Certified Financial Services Auditor
Certification: Certified Government Auditing Professional
Total Questions: 511 Q&A
Updated on: Nov 15, 2024
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Reviewing counterparties for creditworthiness and obtaining master trade agreements and credit approval for counterparties before entering into a repurchase or reverse repurchase agreement Obtaining collateral from the counterparty Marking to market all collateral daily; if a deficit (within established guidelines) exists, additional collateral may be obtained from the counterparty Reconciling the repurchase and reverse repurchase subsidiary ledgers to the stock record and general ledger daily. Out-of-balances are recorded as suspense items and researched immediately These are actually:
A. Control and monitoring activities related to purchase and reverse purchase agreement
B. Review activities where broker-dealer dealers finance proprietary or customer activitythrough collateralized bank
C. Auditors should be aware of the following control and monitoring activities typicallyassociated with securities lending
D. None of these
A contract whereby one undertakes to indemnify another or pay a specified amount upon determinable contingencies is called:
A. Demand draft
B. Loan
C. Insurance
D. Term deposit
Option's in major types of life insurance is/are:
A. May be renewable or convertible to a whole life policy (term life insurance)
B. May pay dividends, may provide a reduced paid-up policy. Partial cash surrenders permitted (whole life insurance)
C. May pay dividends minimum death benefit partial cash surrenders permitted
D. All of these
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