Online Access Free IIA-CFSA Exam Questions

When the maturity date of the annuity arrives, the insurer begins making a series of payment to the annuitant over a stated period (Known as__________).

• A.Payment release period
• B.Lump-sum payment period
• C.Accumulation period
• D.Pay-out period

Foreign currency futures contracts may be legitimately traded either on a recognized futures exchange or in the ___________, which generally involves trading between large institutions such as banks and corporations.

• A.Interbank market
• B.Dealers market
• C.Secondary security market
• D.Over the counter market

Deposit accounts are either interest bearing or non-interest bearing. Interest bearing accounts includes _________ and ___________. The types of accounts bear interest for a fixed period of time and are known as time deposits.

• A.Savings accounts, certificates of deposit
• B.Savings accounts, certificates of deposit and non-interesting bearing account
• C.Savings accounts, term deposit
• D.Certificate of deposit, Savings accounts and certificates of deposit

At times when you have more money available, you can pay as if it were a whole life policy and accumulate cash value on a tax deferred basis. It is the advantage of:

• A.None of these
• B.Group life insurance
• C.Survivorship universal life insurance
• D.Both A & B

Known limitations of VaR methodology include the fact that changes in market may not tend to normal distribution (specifically, that very large movements are more likely than predicated by the normal distribution assumption); BECAUSE:

• A.The changes in present values are not perfectly linearly related to changes market rates.
• B.Correlation between market movement can vary (especially during periods of stress in themarket)
• C.All of these
• D.The use of one day horizon does not fully capture the market risk of positions that cannot be liquidated in one day.