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Financial CFSA : Certified Financial Services Auditor (IIA-CFSA) Exam

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Test Number : CFSA
Test Name : Certified Financial Services Auditor (IIA-CFSA)
Vendor Name : Financial
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CFSA test Format | CFSA Course Contents | CFSA Course Outline | CFSA test Syllabus | CFSA test Objectives

Certified Financial Services Auditor® (CFSA®) test Syllabus
The CFSA test tests a candidate's knowledge of current auditing practices and understanding of internal audit issues, risks, and remedies in the financial services industry.

The test consists of 115 multiple-choice questions.
The testing period is two hours and fifty-five minutes.
Exam questions are all multiple-choice (objective) with four answer choices.
80% of the test covers four domains: Financial Services Auditing, Auditing Financial Services Products, Auditing Financial Service Processes, and The Regulatory Environment.
The remaining 20% relate to the candidates' chosen discipline and will be at the proficiency level.
CFSA candidates may choose any one of the three disciplines as part of their CFSA test test.
Candidates may not choose to be tested on more than one discipline.
The CFSA designation does not distinguish one chosen discipline from another.

The CFSA test core content covers four domains:

Domain I: Financial Services Auditing (25-35%)
Domain II: Auditing Financial Services Products (25-35%)
Domain III: Auditing Financial Service Processes (25-35%)
Domain IV: The Regulatory Environment (10-20%)

CFSA test Individual Disciplines
Banking: Products, Processes, and the Regulatory Environment (20% — Proficiency Level)
Insurance: Products, Processes, and the Regulatory Environment (20% — Proficiency Level)
Securities: Products, Processes, and the Regulatory Environment (20% — Proficiency Level)

Financial Services Auditing (25-35%)
(P) = Candidates must exhibit proficiency (thorough understanding, ability to apply concepts) in these subject areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these subject areas.
A. IIA International Professional Practices Framework (P)
B. Internal Control/Risk Management/Governance (P)
Internal Control Frameworks
Risk Management Frameworks
Governance Models
C. Audit Process (P)
Audit Planning
Audit Fieldwork
Risk Assessment
Analytical Review
Data Gathering and Evaluation
Tools and Techniques (e.g., CAAT)
Audit Communications
Monitoring Outcomes
D. Implications of Information Technology (P)
E. Auditing Financial Statement Elements (P)
Balance Sheet
Statement of Cash Flows
Income/Expense Statement
Off Balance-sheet Items
Auditing Financial Services Products (25-35%)
(P) = Candidates must exhibit proficiency (thorough understanding, ability to apply concepts) in these subject areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these subject areas.
A. Lending/Loans (A)
B. Deposits (A)
C. Trusts (A)
D. Annuities (A)
E. Derivatives (A)
F. Electronic Services (A)
G. Cash Management Services (A)
H. Stocks (A)
I. Bonds (A)
J. Commodities (A)
K. Mutual Funds (A)
L. Employee Benefits (A)
M. Capital Market Products (A)
N. Securities Lending (A)
O. Insurance Policies (A)
P. Insurance Products (A)
Q. Foreign Exchange (A)
R. Asset Management (A)
S. Money Market Products (A)
Auditing Financial Service Processes (25-35%)
(P) = Candidates must exhibit proficiency (thorough understanding, ability to apply concepts) in these subject areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these subject areas.
A. Risk Management (A)
Asset/Liability Management
Trading Market Risk
Credit, Liquidity, Operational Risk
Allowance for Loan and Lease Losses
B. Underwriting (A)
Private Placement
Initial Public Offerings
C. Securitizations (A)
D. Treasury Operations (e.g., Cash Management) (A)
E. Back-office Operations (A)
F. Marketing Sales and Distribution (e.g., Insurance Agencies, Bank Branches, Brokers) (A)
G. Claims (A)
H. Investments (A)
I. Broker/Dealer Activities (A)
J. Rating Advisory Service (A)
K. Mergers and Acquisitions (A)
L. Loan Operations (e.g., Collateral Issues, Perfecting Liens) (A)
The Regulatory Environment (10-20%)
(P) = Candidates must exhibit proficiency (thorough understanding, ability to apply concepts) in these subject areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these subject areas.
A. Overview of the Regulatory Environment (A)
Function of Central Bank
Function of Insurance Regulators
Function of Securities Regulators
B. Laws and Regulations (A)
Equal Credit Opportunity/Antidiscrimination
Home Mortgage Disclosure
Reserve Requirements
Insider Transactions
Lending Disclosure
Deposits Disclosure
Real Estate Sales Disclosure
Self-assessment of Internal Controls/Risk Management
Investor/Depositor Protection
Financial and Personal Information Privacy
Anti-Money Laundering
C. Stock Exchanges and Other Markets (A)
D. Money and Banking (A)
Role of Money and Banking
Bond and Stock Markets
Effect of Interest Rate Movements
Monetary Management Theories

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The 7 top-rated CFA test Prep lessons of 2020 | CFSA PDF get and Dumps

in case you plan on pursuing a career as a chartered fiscal analyst (CFA), you are going to need to flow a series of exams. The CFA examination measures and certifies your competence and integrity earlier than becoming a financial analyst. In passing the CFA exam, you're going to gain analytical competencies and talents in quantitative methods, economics, fiscal reporting, investments evaluation, and portfolio administration. The examination is meant to aid you boost your profession or aid you find a brand new position in the finance sector.

The CFA Institute's exams are in general distinct-option, and candidates have loads of alternate options for the way to prepare. The CFA examination contains a collection of three assessments: degrees I, II, and III. On the level I exam, that you would be able to predict questions to be focused on simple expertise and comprehension round investment equipment, while the degree II look at various is based on a greater complicated analysis of valuing belongings. The degree III test is application-based, difficult you to feel extra analytically about portfolio administration and wealth planning.

if you're planning to take the CFA exam, or not it's crucial to agree with taking courses to make sure you might be as prepared as feasible. With a few decisions within the verify-prep landscape, or not it's integral to accept as true with your learning fashion, finances, and time constraints. And, it's critical to observe that these are all field to trade all the way through the 18-plus month experience of passing the tests.

One option is to put together directly from the CFA Institute’s substances, which can be free with each paid registration (around $700 to $1,450). As these materials are the Institute’s curriculum, they're without difficulty the font from which the checks are crafted.

however the materials will also be excessively lengthy for the readings, and excessively brief for questions. They are usually extra theoretical than educational, and fail to spoil up topics, or focus attention on what is simple for fulfillment within a flow-fail multiple-alternative examination. furthermore, using these substances skill primarily book-based instruction, which is unappealing to visible or auditory rookies.

Most candidates, therefore, use prep route products to enhance their self-look at from the Institute’s substances, or as a complete option to using these substances. So, candidates may still center of attention on the products that they really want given their own situations.

There are five different classes of product: self-analyze (i.e. purchasing books/e-books to work via by myself), questions and mocks (i.e. paper or web-based mostly questions and mock exams), instruction (i.e., attending a class, which can be reside or online), evaluate (i.e. having access to a cram route shortly before the exam), and tutoring, which usually potential getting e mail-simplest access to an instructor.

in order to most reliable support you consider equipped for the examination, they assessed the most excellent CFA prep courses to get you across the finish line.

The 7 gold standard CFA test Prep classes of 2020 Kaplan/Schweser


Kaplan/Schweser is the largest and most centered issuer, offering its items in applications that raise in fee as a consequence.

The fundamental self-analyze kit lists for roughly $699, and features notes, apply exams, questions, and planning equipment. The mid-stage package provides guide, which can also be both on-line for round $1,099, or reside in select cities for about $1,399. Priced at $1,799, the top-tier equipment adds a weekend workshop and review books.

Kaplan/Schweser also sells access weekend and week-long evaluation programs as standalone products, which is incredible in case you've relied entirely on self-learning and would like a brand new tactic.

Weekend reviews are about bringing everything collectively and specializing in examination approach, rather than instruction. The week-lengthy session is set assessment and guide, due to the fact that the latter is unlikely to be enough by itself.

Adapt Prep

  Adapt Prep

Adapt Prep presents a set of self-look at, guide, and query products for all three ranges of the CFA exam. The enterprise's goal is to assist you be taught the necessities, follow effectively, and grasp the examination.

if you are attempting to find extra from your equipment, there are plenty of options that you would be able to choose from to help you prepare for the look at various. For around $one hundred fifty, you're going to get access to dynamic practice checks that use an adaptive learning algorithm. You should buy educational materials in e-book and video layout for about $200. And, for roughly $300, you will get a bundle of both the assessments and the instructional materials.

while Adapt Prep doesn't have a large company name and has simplest been around due to the fact that 2013, it's a superb alternative if you are sticking to a funds. The carrier is priced decrease than most of its competitors, so it be most reliable if you wish to shop and are interested in self-study studying products.

Bloomberg test CFA Prep

Bloomberg test CFA Prep

Bloomberg examination CFA Prep provides a modern, AI-based learning platform that goals to aid determine after which center of attention attention to your susceptible areas.

The self-analyze and guideline-based mostly package prices around $seven-hundred and offers you entry to “micro-lessons” on the total curriculum. you are going to also get variable amounts of access to observe questions and instructors, depending upon any add-ons you select.

the base kit comprises 13,000 questions—greater than its competitors—six full assessments, and the ability to message an teacher 20 questions. With the top class package, priced at round $2,000, you'll receive four extra exams, limitless query-messaging, and five private tutoring classes.

Bloomberg is additionally a pretty good alternative if you're cramming considering the fact that it also presents packages for sprinters—approximately $500 for 2 months’ entry right before the assessments. There are also bundles for marathoners, who can get 4 years’ price of entry for about $1,300—so enough for up to eight sittings of the degree 1 exam.



FinQuiz is an outstanding alternative for self-directed candidates attempting to find an affordable complement to working at once from the CFA test substances.

The carrier provides lots of alternate options, but places an emphasis on what the test is expected to ask. items accessible so you might use via FinQuiz are an online query bank, chapter notes, sensible summaries, six mock tests, components sheets, and a analyze plan.

FinQuiz’s primary application—priced at $99—is simply questions and mocks, which are intentionally challenging and designed to stretch the candidates. in case you have extra price range to spare, FinQuiz has a premium package for about $179, which offers access to specific summaries of the business's substances and teacher support.

reckoning on how you be taught, that you may also via one of the vital study materials one after the other, which might be priced around $10 to $35.

Fitch gaining knowledge of

Fitch discovering

Fitch discovering takes a modular strategy to its offerings.

The modular method capability that candidates can buy simply the one product that they want, in preference to waste cash purchasing a equipment that consists of materials that you don't have and will not use.

A fundamental, on-line-access self-analyze kit charges around $495, whereas various review and guideline-type programs may also be bought one by one. when you are hunting for entry to questions, it'll charge you about $195, while mocks are approximately $79 on-line and overview courses are pricier, at around $300. There are also a number of live, online, or on-demand courses available that you should purchase one after the other.

The question and/or mock applications are a very good value in case you are searching for extra alternatives to practice working with questions, and the standalone evaluation route is value considering the fact that if you are within the closing stretch earlier than the exam.



MyGuru presents economical, individual tutoring from CFA charter holders, either in grownup or on-line. Candidates get loads of flexibility with tutors, each in terms of when and how it takes location, and also regarding what number of sessions are bought.

Tutoring is regularly used as a complement to in-adult or online self-study, or an educational direction. someone instructor is there to assist you create a more custom-made examine plan out of something materials or curriculum exists, in addition to to focus on the themes and ideas that might possibly be difficult. Of route, they could additionally turn into a mentor to you and assist construct self assurance main up to the date of the examination.

In distinction to on-line classes that include access to an instructor or mentor as a part of a kit in boost, you'll get to select what number of lessons you need as you examine. Plus, you are going to get personalised consideration committed to your particular considerations. expenses range, but customarily does not exceed $a hundred twenty five per hour, with reduce pricing provided when college students put money into a kit of hours.

Wiley efficient discovering

Wiley efficient studying

Wiley effective getting to know presents layers of packages that enhance in expense by way of how many substances you want.

The standalone self-study course charges around $645 and primarily comprises questions, as well as two mock assessments. for roughly $995, which you can get guide in a live-online and/or video layout, as smartly as the appropriate to e-mail inquiries to an instructor, flashcards, and different candies.

For $1,395, Wiley throws in a assessment direction, which contains an internet class, a mock and a booklet. There are much less hours of video lectures and questions as candidates progress throughout the three checks. For tutoring, candidates get responses from instructors inside 24 to forty eight hours.

Wiley’s CFA offerings are updated and do not comprise questions that relate to issues that are long-long past from the curriculum.

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