B. Implicitly
C. Professionally
D. Explicitly

Answer(s): D
QUESTION: 27
"Ongoing monitoring activities are conducted to periodically reassess risk and the effectiveness
of control risk, " is an objective of:

A. Risk Identification
B. Risk Measurement
C. Risk Management Process
D. Risk Prioritization

Answer(s): C
QUESTION: 28
Faulty human judgments, misunderstanding of instructions, errors, management override, and
collusion and cost/benefit considerations are the limitations of:

A. Reasonable Assurance
B. Internal Control System
C. Risk Management
D. Compliance Control

Answer(s): B
QUESTION: 29
Five internal control components are:

A. Control environment, Risk assessment, Control activities, Information and communication &
Monitoring
B. Control environment, Risk assessment, and Operational control, Information and
communication & Monitoring
C. Control environment, Risk Prioritization, Control activities, Information and communication &
Monitoring
D. Control environment, Risk Prioritization, Control activities, Information and communication &
Monitoring

Answer(s): A
QUESTION: 30
Enterprise risk management encompasses all EXCEPT:

A. Aligning risk appetite and strategy
B. Enhancing risk responsibilities and decisions

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Free Financial CFSA Exam Questions (page: 8)

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