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2021 Sep IIA-CFSA exams
Q141. (Topic 1)
Major categories of loans include all of the following EXCEPT:
A. Commercial loans
B. Residential loans
C. Consumer loans
D. Agricultural loans
Answer: D
Q142. (Topic 1)
Internal auditors are expected to uphold the following principles: A. Integrity, objectivity, competency
B. Integrity, objectivity, confidentiality, and competency
C. Integrity, objectivity, awareness and competency
D. Integrity, objectivity, entirety
Answer: B
Q143. (Topic 3)
Risk assessment may be:
A. Quantitative only
B. Qualitative only
C. Both A&B
D. Qualitative in general and quantitative in specific
Answer: C
Q144. (Topic 3)
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
Answer: A
Q145. (Topic 1)
__________ allows businesses that sell durable goods such as auto-mobiles to finance inventories. As the business sells goods, the loan advance against those goods is repaid.
A. Term loans
B. Consumer loans
C. Installment loans
D. Floor-plan financing
Answer: D
Renovate IIA-CFSA pdf exam:
Q146. (Topic 5)
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
Answer: D
Q147. (Topic 5)
Standard and poor’s 500 index, the Dow Jones Industrial average, or the Toronto stock Exchange index is the examples of:
A. Equity indices
B. Stock exchange indices
C. OTC market indices
D. All of these
Answer: A
Q148. (Topic 5)
The time that a new group member must wait before becoming eligible to enroll in a group insurance plan is known as the:
A. Actively-at-work provision
B. Probationary period
C. Eligible period
D. Enrollment period
Answer: B
Q149. (Topic 4)
Adequate solution for insurance coverage is that:
A. Which offsets the losses generated by the absence of a key contributor?
B. Does not impose a financial burden on the business
C. Establish control of the business to the surviving active owner
D. All of these
Answer: D
Q150. (Topic 4)
In variable universal life (VUL) policies the maximum premium standard set was:
A. To define a maximum cash value per death benefit and to define a maximum premium for a given death benefit
B. To define a minimum cash value per death benefit and to define a moderate premium for a given death benefit
C. To define a maximum cash value per death benefit and to define a moderate premium for a given death benefit
D. None of these
Answer: A
372. (Topic 4)
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
Answer: B