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Exam Code: IFC
Exam Name: Investment Funds in Canada (IFC) Exam
Vendor: CISI

60 Questions & Answers
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NEW QUESTION: 1
Which three describe a valid OGG Event Action?
A. Run a shell command
B. Stop the process
C. Write a checkpoint before and/or after writing the record to the trail.
D. Purge old trail files
Answer: A,B,C
Explanation:
In reference guide, page 312, Syntax EVENTACTIONS ([STOP | ABORT |
FORCESTOP][IGNORE [TRANSACTION [INCLUDEVENT]][DISCARD][LOG [INFO |
WARNING]][REPORT][ROLLOVER][SHELL <command>][TRACE <trace file> [TRANSACTION]
[PURGE | APPEND]][CHECKPOINT [BEFORE | AFTER | BOTH]][, ...])

NEW QUESTION: 2
An engineer is configuring the Cisco Unified Communications Manager disaster recovery system. Which three statements about the disaster recovery system are true? (Choose three.)
A. It requires the use of schedules for backups.
B. Backup files are encrypted using the cluster security password.
C. If the backup device is listed in a backup schedule, it cannot be manually deleted.
D. Archiving backups to tape drives is supported.
E. SSL is used between the master and local agents.
F. If the backup does not complete within 40 hours, the backup times out.
Answer: B,C,E

NEW QUESTION: 3
Which of the following procedures would an auditor ordinarily perform first in evaluating management's
accounting estimates for reasonableness?
A. Develop independent expectations of management's estimates.
B. Test the calculations used by management in developing the estimates.
C. Obtain an understanding of how management developed its estimates.
D. Consider the appropriateness of the key factors or assumptions used in preparing the estimates.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "D" is correct. In evaluating the reasonableness of an accounting estimate, the auditor should first
obtain an understanding of how management developed its estimate.
Choice "A" is incorrect. After first obtaining an understanding of how management developed its estimate,
the auditor should use one or a combination of the following approaches: a) review and test the process
used by management to develop the estimate, b) develop an independent expectation of the estimate to
corroborate the reasonableness of management's estimate, or c) review subsequent events.
Choice "B" is incorrect. After having first obtained an understanding of how management developed its
estimate, the auditor should consider testing management's process by assessing the appropriateness of
the key factors or assumptions used in preparing the estimate.
Choice "C" is incorrect. After first obtaining an understanding of how management developed its estimate,
the auditor should use one or a combination of the following approaches: a) review and test the process
used by management to develop the estimate, b) develop an independent expectation of the estimate to
corroborate the reasonableness of management's estimate, or c) review subsequent events.


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