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NEW QUESTION: 1
A. Dynamic
B. Link status only
C. Fixed with preferred path
D. Link status with Beacon probing
Answer: B,D
Explanation:
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NEW QUESTION: 2
A Qualified Internal Auditor directs the audit function for a large city and is planning the audit schedule for the next year. The city has a number of different funds, some that are restricted in use by government grants and some that require compliance reports to the government. One of the programs for which the city has received a grant is job retraining and placement. The grantspecifies certain conditions a participant in the program must meet in order to be eligible for the funding.
The auditor must determine the applicable laws and regulations.
Which of the following procedures would be the least effective in learning about the applicable laws and regulations?
A. Review applicable grant agreements.
B. Discuss the matter with the audit committee and make inquiries as to the nature of the requirements and the audit committee's objectives for the audit.
C. Make inquiries of the city's chief financial officer, legal counsel, or grant administrators.
D. Review prior year working papers and enquire of officials as to changes.
Answer: B
NEW QUESTION: 3
Which one of the four following statements about back testing the VaR models is correct?
Back testing requires
A. Determining the proportion of daily profits exceeding those predicted by VaR.
B. Plotting the daily profit and losses along with the ranges predicted by VaR models
C. Plotting VaR forecasts against the proportion of daily losses exceeding the average loss.
D. Comparing the predictive ability of VaR on a daily basis to the realized daily profits and losses.
Answer: D
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