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IIA-CFSA Exam Questions

Exam Name: Certified Financial Services Auditor
Exam Code: IIA-CFSA CFSA
Related Certification(s): IIA Certified Financial Services Auditor CFSA-IIA Certification
Certification Provider: IIA
Actual Exam Duration: 120 Minutes
Number of IIA-CFSA practice questions in our database: 511 (updated: Nov. 07, 2024)
Expected IIA-CFSA Exam Topics, as suggested by IIA :
  • Topic 1: Financial and Personal Information Privacy/ Implications of Information Technology
  • Topic 2: IIA International Professional Practices Framework/ Data Gathering and Evaluation
  • Topic 3: Auditing Financial Statement Elements/ Marketing Sales and Distribution
  • Topic 4: Auditing Financial Services Products/ Internal Control/Risk Management/Governance
  • Topic 5: Risk Management Frameworks/ Internal Control Frameworks
  • Topic 6: Allowance for Loan and Lease Losses/ Financial Services Auditing
  • Topic 7: Initial Public Offerings/ Overview of the Regulatory Environment
  • Topic 8: Self-assessment of Internal Controls/Risk Management/ Equal Credit Opportunity/Antidiscrimination
  • Topic 9: Effect of Interest Rate Movements/ Real Estate Sales Disclosure
  • Topic 10: Stock Exchanges and Other Markets/ Monetary Management Theories/ Home Mortgage Disclosure
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Merilyn

4 hours ago
Aced the CFSA exam thanks to Pass4Success. Their materials were a game-changer in my short study time.
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Daron

13 days ago
I am thrilled to have passed the IIA Certified Financial Services Auditor exam. The Pass4Success practice questions were spot on. There was a challenging question about compliance with financial regulations, particularly the Basel III requirements. I had to guess on that one, but it worked out.
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Dottie

26 days ago
Just passed the IIA Certified: Certified Financial Services Auditor exam! The risk assessment questions were challenging. Focus on understanding different risk types and their impact on financial services.
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Hubert

27 days ago
Passing the IIA Certified Financial Services Auditor exam was a huge relief. Thanks to Pass4Success, I felt prepared. One question that caught me off guard was about the financial services environment, specifically the impact of economic cycles on banking operations. I wasn't sure how to answer it, but I still passed.
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Muriel

1 months ago
CFSA certified! Pass4Success made it possible with their relevant practice questions. Thanks for the quick prep!
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Kimberlie

1 months ago
Pass4Success questions were very similar to the actual exam. Be prepared for scenarios on auditing mergers and acquisitions in financial institutions.
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Veronica

1 months ago
Just cleared the IIA Certified Financial Services Auditor exam! The Pass4Success practice questions were a lifesaver. There was this tricky question on the various financial products, particularly derivatives. I had to think hard about the differences between options and futures, but I made it.
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Sylvie

2 months ago
The exam tested knowledge of model risk management. Understand the process of validating financial models used in risk management and valuation.
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Lynsey

2 months ago
I recently passed the IIA Certified Financial Services Auditor exam and it was quite the journey. The Pass4Success practice questions were incredibly helpful. One question that stumped me was about the different types of risks in financial services, specifically operational risk. I wasn't entirely sure how to differentiate it from market risk, but I managed to get through it.
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Fannie

2 months ago
Just passed the IIA CFSA exam! So grateful for Pass4Success's prep materials. Their questions were spot-on!
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Lore

4 months ago
My exam experience for the IIA Certified Financial Services Auditor exam was successful, thanks to Pass4Success practice questions. The exam included topics like IIA International Professional Practices Framework and Data Gathering and Evaluation. One question that I found challenging was about the importance of data validation in financial audits. Despite my uncertainty, I was able to pass the exam.
upvoted 0 times
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Tegan

4 months ago
Just passed the CFSA exam! A key topic was risk assessment in financial services. Expect questions on identifying and evaluating risks in banking operations. Focus on understanding risk management frameworks and internal control processes. Thanks to Pass4Success for the spot-on practice questions that helped me prepare efficiently!
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Danica

5 months ago
I passed the IIA Certified Financial Services Auditor exam with the help of Pass4Success practice questions. The exam covered topics like Financial and Personal Information Privacy and Implications of Information Technology. One question that stood out to me was related to the implications of using cloud computing in financial services audits. I wasn't completely sure of the answer, but I managed to pass the exam.
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Free IIA IIA-CFSA Exam Actual Questions

Note: Premium Questions for IIA-CFSA were last updated On Nov. 07, 2024 (see below)

Question #1

A derivative with a convex payoff-profile at some point before the option's maturity is a simple plan vanilla option. As the option becomes progressively more-in-the money, the rate at which the position makes money increases until asympathetically approaches the linear payoff of the future. Similarly, as the option becomes progressively more out-of -- the money, the rate at which the position loses money decreases until that rate becomes zero. This is an example of:

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Correct Answer: B

Question #2

Not all misstatements will be material enough to affect the fair presentation of the financial statement. A material misstatement is one that the auditors determine would change or influence the option of a reasonable person relying on the financial statements for information. Ultimately, auditors must exercise judgment to assess materiality based on the qualitative nature of the misstatements and their quantitative extent. Materiality is also based on auditors' assessment of control risk levels in the organization. The following factors may influence the auditors' assessment of control risk EXCEPT:

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Correct Answer: D

Question #3

Standard and poor's 500 index, the Dow Jones Industrial average, or the Toronto stock Exchange index is the examples of:

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Correct Answer: A

Question #4

The main objective/s of an audit of swaps is/are:

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Correct Answer: D

Question #5

Adequate procedures and controls associated with swap transactions should exist to help minimize the risks inherent in transaction process. Example/s of these controls may include:

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Correct Answer: D

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