IIA-CFSA

IIA-CFSA practice questions, page 16 of 21, with answer review and explanations.

Question 76

If principal is paid on a loan after it has been placed on non-accrual status, the bank must determine whether it should record the payment as a reduction of:

  1. The loan principal amount
  2. Income interest
  3. Both of these
  4. Any one of these

Question 77

Financial institutions regularly identify uncollectible accounts and charge them off against the reserve of:

  1. Unearned loan revenue
  2. Loan losses
  3. Loan expenses
  4. All of these

Question 78

Watch lists of loans that are in danger of becoming delinquent generally contain information on such as:

  1. Customers name and account information
  2. Loan balance outstanding
  3. Available collateral and its estimated value
  4. All of these

Question 79

Deposit accounts are:

  1. Interest bearing accounts
  2. Non-interest bearing accounts
  3. Tax bearing accounts
  4. Either A or B

Question 80

Some small businesses keep funds in a savings account to gain interest on:

  1. Fixed assets
  2. Liquid assets
  3. Loans
  4. All of these