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1. Financial Services Auditing (35-45%)
2. Regulatory Compliance (25-35%)
3. Risk Management (15-25%)
4. Business Processes (10-20%)
Core banking processes, loan underwriting, investment management
Exam Format:
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1. What is the primary purpose of the IIA’s CFSA certification?
A) To certify professionals in general accounting principles
B) To validate expertise in financial services auditing and risk management
C) To provide training in investment banking
D) To certify compliance with SEC regulations
2. Which of the following is a key responsibility of a Certified Financial Services Auditor (CFSA)?
A) Managing stock portfolios for clients
B) Assessing internal controls and compliance in financial institutions
C) Preparing tax returns for corporations
D) Conducting external audits for non-financial businesses
3. Which regulatory body’s guidelines are most relevant to a CFSA working in a U.S. bank?
A) FDA (Food and Drug Administration)
B) EPA (Environmental Protection Agency)
C) OCC (Office of the Comptroller of the Currency)
D) FAA (Federal Aviation Administration)
4. What is a critical component of an effective financial services audit?
A) Marketing strategies for financial products
B) Risk assessment and control evaluation
C) Customer service training programs
D) Social media engagement metrics
5. Which of the following would NOT typically be within the scope of a CFSA’s audit?
A) Evaluating anti-money laundering (AML) controls
B) Reviewing loan underwriting processes
C) Designing a new bank logo
D) Assessing IT security for online banking
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