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Internal Audit Practitioner

  • Exam Number/Code : IAA-IAP
  • Exam Name : Internal Audit Practitioner
  • Questions and Answers : 213 Q&As
  • Update Time: 2019-01-10
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NEW QUESTION: 1
You want to scan your network quickly to detect live hosts by using ICMP ECHO Requests. What type of scanning will
you perform to accomplish the task?
A. XMAS scan
B. Idle scan
C. TCP SYN scan
D. Ping sweep scan
Answer: D

NEW QUESTION: 2
The Management Accountant in company PP has been asked by the Finance Director to produce a paper on "Game Theory" for the next Board meeting.
Which of the following is a valid statement?
A. Game Theory studies the strategic interactions among rational players.
B. Game Theory suggests that Organizations should not interact with the external environment.
C. The information culture would be a key consideration to study as part of the Game Theory.
D. Game Theory treats strategy as an interaction between the Organization and its customers.
Answer: A

NEW QUESTION: 3
Monte Carlo simulation based VaR is suitable in which of the following scenarios:
I. When no assumption can be made about the distribution of underlying risk factors II. When underlying risk factors are discontinuous, show heavy tails or are otherwise difficult to model III. When the portfolio consists of a heterogeneous mix of disparate financial instruments with complex correlations and non-linear payoffs IV. A picture of the complete distribution is desired in addition to the VaR estimate
A. III and IV
B. D
C. II, III and IV
D. I, II and III
E. I, III and IV
Answer: B
Explanation:
Explanation
I, III and IV represent situations where Monte Carlo simulations can be employed. I is not a situation where Monte Carlo can be used, as there is no basis available to simulate the returns. When no distribution assumption is possible, it may be advisable to use historical simulations. Therefore Choice 'd' is the correct answer, and the others are incorrect.