Overview of the IIA CFSA Exam
The IIA CFSA certification is designed for auditors specializing in banking, insurance, securities, and other financial services. The exam evaluates a candidate’s ability to assess risks, ensure compliance, and implement effective audit strategies.
Exam Structure:
- Format: Multiple-choice questions
- Duration: 2.5 hours
- Number of Questions: 125
- Passing Score: Minimum scaled score of 600 (out of 700)
Key Exam Domains:
1. Financial Services Auditing (35-45%)
- Auditing financial statements
- Fraud detection and prevention
2. Regulatory Compliance (25-35%)
- Understanding banking, insurance, and securities regulations
3. Risk Management (15-25%)
- Identifying financial risks
- Implementing risk controls
4. Audit Practices & Methodologies (10-20%)
- Audit planning and execution
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Step 1: Understand the Syllabus First
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Combine DumpsArena’s IIA CFSA Exam Dumps PDF with textbooks, online courses, and practice tests for a well-rounded preparation.
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Conclusion
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Get Accurate & Authentic 500+ IIA CFSA Exam Dumps PDF
1. Which of the following is a primary responsibility of a financial services auditor?
A) Approving loan applications
B) Ensuring compliance with banking regulations
C) Marketing financial products
D) Setting interest rates for customers
2. The Basel III framework primarily focuses on:
A) Cybersecurity risks
B) Capital adequacy and liquidity risk
C) Customer satisfaction metrics
D) Employee training programs
3. Which regulatory body enforces anti-money laundering (AML) regulations in the U.S.?
A) Federal Reserve
B) Financial Crimes Enforcement Network (FinCEN)
C) Securities and Exchange Commission (SEC)
D) Federal Deposit Insurance Corporation (FDIC)
4. What is the purpose of the Sarbanes-Oxley Act (SOX) in financial auditing?
A) To improve corporate governance and financial disclosures
B) To set interest rate policies
C) To regulate cryptocurrency transactions
D) To oversee mortgage lending practices
5. Which risk arises from the failure of internal processes, people, or systems?
A) Credit risk
B) Market risk
C) Operational risk
D) Liquidity risk
