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Financial Risk and Regulation (FRR) Series
- Exam Number/Code : 2016-FRR
- Exam Name : Financial Risk and Regulation (FRR) Series
- Questions and Answers : 213 Q&As
- Update Time: 2019-01-10
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NEW QUESTION: 1
Which best describes the documentation completion date?
A. Sixty days from the report release date, based on PCAOB standards.
B. Five years from the report release date, based on auditing standards.
C. Forty-five days from the report release date, based on PCAOB standards.
D. Seven years from the report release date, based on auditing standards.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "A" is correct. According to PCAOB standards, the documentation completion date is forty-five
days following the report release date.
Choice "B" is incorrect. According to auditing standards, the documentation completion date is sixty days
following the report release date.
Choices "C" and "D" are incorrect. Seven years and five years refer to the required retention period under
PCAOB standards and auditing standards, respectively.
NEW QUESTION: 2
Which of the following is true with regard to norms?
A. Norms are often written in an organization's policy manual.
B. Norms cannot be enforced by ridicule or criticism.
C. Norms are similar from culture to culture.
D. Norms reinforce the group's values and common identity.
Answer: D
Explanation:
Norms often provide a common identity for a group. Members feel they are part of a cohesive group with members who also share the same values.
NEW QUESTION: 3
Which of the following statements about RAID 5 are correct? (Multiple Choice)
A. RAID 5 tolerates the failure of a maximum of two member disks without losing data.
B. RAID 5 uses the XOR algorithm for parity,
C. RAID 5 has fixed parity disks,
D. RAID 5 writes data by stripes.
Answer: B,D