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					            ISC2
            EXAM CFSA
Certified Financial Services Auditor - Securities




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         Question: 1
         When banks extend or invest funds through actual or implied contractual agreements, which of
         the following risks is encountered?
         A.Interest-rate risk.
         B.Credit risk.
         C.Liquidity risk.
         D.Transaction risk.
                                                                          Answer:B

         Question: 2
         A 10 percent stock dividend paid by an organization will be most likely to:
         A.Decrease net income.
         B.Decrease future earnings per share.
         C.Increase shareholders' wealth.
         D.Increase retained earnings.
                                                                          Answer:B

         Question: 3
         Which of the following types of investments has the advantage of reducing the time required to
         manage an investment portfolio?
         A.Held-to-maturity.
         B.Available-for-sale.
         C.Trading securities.
         D.Equity method.
                                                                          Answer:A

         Question: 4
         Demand deposit accounts are an example of which of the following sources of interest-rate risk?
         A.alance fluctuation risk.
         B.Spread risk.
         C.Yield curve repricing risk.
         D.Options risk.
                                                                          Answer:A

         Question: 5
         When mutual fund shares are sold or redeemed, the fund's net asset value typically:
         A.Increases if there were more sales than purchases.
         B.Decreases if there were more sales than purchases.
         C.Increases or decreases, depending on the net difference between shares and securities bought
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         and sold.
         D.Does not change.
                                                                       Answer:D




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