Financial Certified Services Auditor (CFSA) CFSA Dumps in PDF

Free Financial CFSA Real Questions (page: 3)


Details: DOMAIN I- FINANCIAL SERVICES AUDITING

All these are disparities in public and private sector audits EXCEPT:

  1. Objective and scope
  2. Specific requirements of relevant regulation, ordinances or ministerial directives
  3. Specific and broad range mandate in public sector
  4. Reasonable assurance

Answer(s): D




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Which one of the following is an internal control component?

  1. Compliance control
  2. Control activities
  3. Financial Reporting Controls
  4. Communication channels and network

Answer(s): B




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Management must assess business risk and develop clearly defined control objectives:

  1. Continually
  2. Annually
  3. Periodically
  4. Weekly

Answer(s): A




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Internal audit routinely reviews compliance risk and also should be reviewing business risk. The efforts to control both risk types will purely enhance:

  1. The short-term profitability and viability of an organization
  2. The long-term profitability and viability of an organization
  3. Both short-term and long-term profitability and viability of an organization
  4. None of these

Answer(s): C




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Following statements define risk EXCEPT:

  1. Organization has knowledge of facts constituting a dangerous condition
  2. Organization voluntarily exposes itself to the danger
  3. The element of assurance in an undertaking
  4. Measured in terms of impact and likelihood

Answer(s): C




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Strategic planning is the process of taking a long-term view of the organization, the longer the view, the greater the uncertainty of risks and opportunities. Such reservations can better be handled by:

  1. Timely decisions
  2. Flexible/ Adaptive plans and processes
  3. Periodic risk assessments
  4. Focusing on current period organizational activity

Answer(s): B




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

High-risk scores are those with an average of scores:

  1. 3.75 or more
  2. 3.25 or more
  3. 4.25 or more
  4. 4.00 or more

Answer(s): C




Details: DOMAIN I- FINANCIAL SERVICES AUDITING

Low-risk scores are those with an average of scores:

  1. 2.25 or less
  2. 2.75 or less
  3. 2.00 or less
  4. 3.25 or less

Answer(s): A



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