Question: 1
Financial institutions regularly identify uncollectible and charge them off against the reserve for loan losses. Auditors should ensure that the institution has developed adequate criteria for
charge-offs and select a sample of charged-off loans whether they are handled properly.
Another useful test is:
Question: 2
Banks also serves as ''registrar'' for stocks and bond issues. The registrar accounts for all shares issued, certificates outstanding, and Certificates cancelled. The role/s of the registrar is/are:
Question: 3
Demand deposit account allows customers to transfer money through the use of:
Question: 4
''A special type of annuity that involves a contract between the annuitant and insurer in which
insurer credits the annuity account with return amounts based on changes in an equity index
such as the S&P500 (composite price index),'' is:
Question: 5
''An incoming wire transfer with instruction to pay the beneficiary upon presentment of proper identification. The beneficiary usually does not maintain a checking or savings account with the paying financial institution.'' This definition refers to:
