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CV0-003 Practice Questions

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To enhance the independence of both the internal and external audit functions, audit committees should be composed of:
A. A rotating subcommittee of the board of directors or its equivalent.
B. Only external members of the board of directors or other similar oversight committees.
C. A combination of external members of the board of directors and company officers.
D. Members from all important constituencies, specifically including representatives from banking, labor, regulatory agencies, shareholders, and officers.
Answer: B

An administrator is troubleshooting an outage in which a core switch in one of the redundant fabrics has failed. The servers connected to one of the storage arrays lost access to their assigned LUNS, while servers with LUNs assigned from other storage arrays continue to have access. Which of the following caused the outage?
A. All controllers of the array are connected to the failed fabric.
B. The array controllers were not configured for failover.
C. Servers' redundant HBAs have incompatible firmware.
D. The array has only one controller.
Answer: A

First National Bank has made a loan to Mr. Good, secured by margin stock, to purchase margin stock. He trades stocks frequently, makes substitutions on loan collateral regularly, and sometimes withdraws collateral and does not replace it. Must FNB ensure that margin requirements are met after every substitution and withdrawal?
A. No. In this case the margin requirement must be met only when the loan is renewed.
B. No. If the margin requirements were met when the loan was made, there are no further requirements.
C. No. The bank is only required to ensure that withdrawals do not violate margin requirements; collateral substitutions are not covered.
D. Yes. The margin requirements must be met at all times.
Answer: D

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CV0-003 Exam Info

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CV0-003 Exam Topics

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CV0-003 Offcial Page

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Check what resources you have available for studying.

Schedule the CV0-003 Exam

Check when you can schedule the exam. Most people overlook this and assume that they can take the exam anytime but it’s not case.