Financial Certified Services Auditor (CFSA) CFSA Dumps in PDF

Free Financial CFSA Real Questions (page: 25)


Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

Which one of the following is/are NOT the type of retirement plans that banks may administer?

  1. Pension plans
  2. Self-employed retirements trust
  3. Group retirement accounts
  4. Post-requirement accounts

Answer(s): C,D




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

Bank may serve as trustee or custodian for pension and profit sharing plans that self- employed individuals establish for them selves and their employees. These types of trust are referred to as:

  1. Defined benefit plans
  2. Keogh plans
  3. Individual retirement account
  4. None of these

Answer(s): B




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

Which one of the following activities is not related to the trust committee activities that should be reviewed?

  1. Whether regular meetings are held and documented by meeting minutes
  2. Whether the trust committee contains at least one member who is not a bank officer
  3. Whether there is adequate oversight of the trust committee's activities by board of directors
  4. None of these

Answer(s): D




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

When the maturity date of the annuity arrives, the insurer begins making a series of payment to the annuitant over a stated period (Known as ).

  1. Accumulation period
  2. Lump-sum payment period
  3. Payment release period
  4. Pay-out period

Answer(s): D




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

Annuities provide the annuitants with .

  1. Tax-deferred earnings
  2. Tax-accrued earnings
  3. Tax-free earnings
  4. Maximum level of earnings

Answer(s): A




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

Surrender charges usually apply only if the annuity has been in free:

  1. For a year
  2. For a maximum period of time
  3. For a minimum period of time
  4. For less than a year

Answer(s): C




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

"Insurers guarantee a minimum rate of interest dunning the time that the account is growing and periodic payment amounts of a specified amount for a stated period (either specific period 10 years indefinite period etc)." This statement is related to:

  1. Variable annuities
  2. Life time annuities
  3. Term period annuities
  4. Fixed annuities

Answer(s): D




Details: DOMAIN II-AUDITING FINANCIAL SERVICES PRODUCTS

The actual amount of payment the annuitant pays is based on:

  1. Amount of money invested and interest rate
  2. Length of the time principle has been invested
  3. No of annuity payment to be made
  4. All of the above

Answer(s): D



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whoAreWeReally
12/19/2023 8:29:00 PM

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9/17/2023 5:36:00 AM

questions and options are correct, but the answers are wrong sometimes. so please check twice or refer some other platform for the right answer

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Massam
6/11/2022 5:55:00 PM

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Anonymous
12/27/2023 12:47:00 AM

answer to this question "what administrative safeguards should be implemented to protect the collected data while in use by manasa and her product management team? " it should be (c) for the following reasons: this administrative safeguard involves controlling access to collected data by ensuring that only individuals who need the data for their job responsibilities have access to it. this helps minimize the risk of unauthorized access and potential misuse of sensitive information. while other options such as (a) documenting data flows and (b) conducting a privacy impact assessment (pia) are important steps in data protection, implementing a "need to know" access policy directly addresses the issue of protecting data while in use by limiting access to those who require it for legitimate purposes. (d) is not directly related to safeguarding data during use; it focuses on data transfers and location.

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5/23/2023 9:46:00 PM

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Anonymous
9/14/2023 4:27:00 AM

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12/7/2023 11:41:00 PM

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Anna
1/5/2024 1:12:00 AM

i am confused about the answers to the questions. are the answers correct?

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