ACC 406 Exam 1 Questions With Correct
Answers
Access |to |credit |documentation |is |restricted. |Which |of |the |following |is |the |most |restricted |
document? |- |CORRECT |ANSWER✔✔-Written-off |credit |instruments.
This |checklist |that |includes |statutes, |regulations, |and |the |Internal |Audit |testing |steps |is |called |
what? |- |CORRECT |ANSWER✔✔-Internal |Audit |Compliance |Checklist
Detailed |explanations |must |be |provided |for |question |on |each |checklist |for |responses |and |for |
exceptions |noted |during |document |testing |for |what |type |of |responses? |- |CORRECT |
ANSWER✔✔-All |"no" |and |"N/A" |responses.
The |MICS |checklist |can |be |given |to |a |casino |employee |for |employee |completion? |- |CORRECT |
ANSWER✔✔-False
Regulation |6.090(15) |requires |an |Internal |Auditor |to |determine |compliance |with |- |CORRECT |
ANSWER✔✔-All |of |the |above
The |Gaming |Control |Board |has |5 |members? |- |CORRECT |ANSWER✔✔-False |it |has |3 |members
If |Internal |Audit |is |used |to |substitute |for |CPA |work |there |are |no |items |the |CPA |is |required |to |
be |perform. |- |CORRECT |ANSWER✔✔-False
Which |of |the |following |is |NOT |a |purpose |of |the |Gaming |Control |Board? |- |CORRECT |
ANSWER✔✔-To |approve, |restrict, |limit, |condition, |deny, |revoke, |or |suspend |any |gaming |
license.
,When |discipline |against |a |gaming |licensee |is |appropriate |the |Board |acts |in |the |judicial |
capacity |and |the |Commission |acts |in |the |prosecutorial |capacity. |- |CORRECT |ANSWER✔✔-False
Board |- |prosecutorial
Commission |- |judicial
The |Gaming |Commission |has |5 |members? |- |CORRECT |ANSWER✔✔-True
When |performing |an |observation |of |a |required |gaming |activity |(ex. |drop |and |count) |the |
observation |should |be |performed |how? |- |CORRECT |ANSWER✔✔-On |an |unannounced |basis |to |
all |employees. |(officers, |directors, |or |employees)
What |is |the |purpose |of |the |gaming |control |board? |- |CORRECT |ANSWER✔✔-- |Eliminate |the |
undesirable |elements |in |Nevada |gaming
- |Provide |regulations |for |licensing
- |Provide |regulations |for |the |operation |of |gaming
- |Establish |rules |and |regulations |for |all |tax |reports |submitted |by |the |gaming |licensees
- |Protect |the |stability |of |the |gaming |industry |through |investigations, |licensing, |and |
enforcement |of |laws |and |regulations
- |To |ensure |the |collection |of |gaming |taxes |and |fees
- |To |maintain |public |confidence |in |gaming
What |are |the |division |of |the |Gaming |Control |Board? |- |CORRECT |ANSWER✔✔-Administration
Audit
Enforcement
Investigations
Tax |and |license
Technology
, What |is |the |purposes |of |the |Gaming |Commission? |- |CORRECT |ANSWER✔✔-- |Acting |on |
recommendations |of |the |Board |in |licensing |matters
- |Ruling |upon |work |permit |case |appeals
- |Has |the |final |authority |on |licensing |matters
- |Ability |to |approve, |restrict, |limit, |condition, |deny, |revoke, |or |suspend |any |gaming |license
- |Adopting |regulations |to |implement |and |enforce |the |state |laws |governing |gaming
What |does |the |Internal |Audit |Compliance |Checklist |audit? |- |CORRECT |ANSWER✔✔-Statutes |
and |Regulations
What |does |the |CPA |MICS |Checklist |audit? |- |CORRECT |ANSWER✔✔-MICS
Why |did |the |GCB |set |up |an |Internal |Audit |Compliance |Reporting |Requirement? |- |CORRECT |
ANSWER✔✔-To |ensure |all |gaming |licencees |are |performing |a |minimum |amount |and |similar |
types |of |compliance |procedures |with |internal |audit |programs, |checklists, |and |guidelines.
What |checklist |does |the |IACC |used |with? |- |CORRECT |ANSWER✔✔-In |conjunction |with |the |CPA
|MICS |Compliance |Checklists
What |areas |do |the |IACC |cover? |- |CORRECT |ANSWER✔✔-All |gaming |revenue |areas, |areas |
subject |to |entertainment |tax, |interactive |gaming, |and |miscellaneous |regulations.
What |procedures |does |Regulation |6.090(15) |require |for |internal |auditors |to |check |
compliance? |- |CORRECT |ANSWER✔✔-Perform |observations, |document |examinations, |inquiry |
with |employees.
Can |employee |complete |questionnaires |be |used |to |replace |an |in |person |inquiry? |- |CORRECT |
ANSWER✔✔-No
Answers
Access |to |credit |documentation |is |restricted. |Which |of |the |following |is |the |most |restricted |
document? |- |CORRECT |ANSWER✔✔-Written-off |credit |instruments.
This |checklist |that |includes |statutes, |regulations, |and |the |Internal |Audit |testing |steps |is |called |
what? |- |CORRECT |ANSWER✔✔-Internal |Audit |Compliance |Checklist
Detailed |explanations |must |be |provided |for |question |on |each |checklist |for |responses |and |for |
exceptions |noted |during |document |testing |for |what |type |of |responses? |- |CORRECT |
ANSWER✔✔-All |"no" |and |"N/A" |responses.
The |MICS |checklist |can |be |given |to |a |casino |employee |for |employee |completion? |- |CORRECT |
ANSWER✔✔-False
Regulation |6.090(15) |requires |an |Internal |Auditor |to |determine |compliance |with |- |CORRECT |
ANSWER✔✔-All |of |the |above
The |Gaming |Control |Board |has |5 |members? |- |CORRECT |ANSWER✔✔-False |it |has |3 |members
If |Internal |Audit |is |used |to |substitute |for |CPA |work |there |are |no |items |the |CPA |is |required |to |
be |perform. |- |CORRECT |ANSWER✔✔-False
Which |of |the |following |is |NOT |a |purpose |of |the |Gaming |Control |Board? |- |CORRECT |
ANSWER✔✔-To |approve, |restrict, |limit, |condition, |deny, |revoke, |or |suspend |any |gaming |
license.
,When |discipline |against |a |gaming |licensee |is |appropriate |the |Board |acts |in |the |judicial |
capacity |and |the |Commission |acts |in |the |prosecutorial |capacity. |- |CORRECT |ANSWER✔✔-False
Board |- |prosecutorial
Commission |- |judicial
The |Gaming |Commission |has |5 |members? |- |CORRECT |ANSWER✔✔-True
When |performing |an |observation |of |a |required |gaming |activity |(ex. |drop |and |count) |the |
observation |should |be |performed |how? |- |CORRECT |ANSWER✔✔-On |an |unannounced |basis |to |
all |employees. |(officers, |directors, |or |employees)
What |is |the |purpose |of |the |gaming |control |board? |- |CORRECT |ANSWER✔✔-- |Eliminate |the |
undesirable |elements |in |Nevada |gaming
- |Provide |regulations |for |licensing
- |Provide |regulations |for |the |operation |of |gaming
- |Establish |rules |and |regulations |for |all |tax |reports |submitted |by |the |gaming |licensees
- |Protect |the |stability |of |the |gaming |industry |through |investigations, |licensing, |and |
enforcement |of |laws |and |regulations
- |To |ensure |the |collection |of |gaming |taxes |and |fees
- |To |maintain |public |confidence |in |gaming
What |are |the |division |of |the |Gaming |Control |Board? |- |CORRECT |ANSWER✔✔-Administration
Audit
Enforcement
Investigations
Tax |and |license
Technology
, What |is |the |purposes |of |the |Gaming |Commission? |- |CORRECT |ANSWER✔✔-- |Acting |on |
recommendations |of |the |Board |in |licensing |matters
- |Ruling |upon |work |permit |case |appeals
- |Has |the |final |authority |on |licensing |matters
- |Ability |to |approve, |restrict, |limit, |condition, |deny, |revoke, |or |suspend |any |gaming |license
- |Adopting |regulations |to |implement |and |enforce |the |state |laws |governing |gaming
What |does |the |Internal |Audit |Compliance |Checklist |audit? |- |CORRECT |ANSWER✔✔-Statutes |
and |Regulations
What |does |the |CPA |MICS |Checklist |audit? |- |CORRECT |ANSWER✔✔-MICS
Why |did |the |GCB |set |up |an |Internal |Audit |Compliance |Reporting |Requirement? |- |CORRECT |
ANSWER✔✔-To |ensure |all |gaming |licencees |are |performing |a |minimum |amount |and |similar |
types |of |compliance |procedures |with |internal |audit |programs, |checklists, |and |guidelines.
What |checklist |does |the |IACC |used |with? |- |CORRECT |ANSWER✔✔-In |conjunction |with |the |CPA
|MICS |Compliance |Checklists
What |areas |do |the |IACC |cover? |- |CORRECT |ANSWER✔✔-All |gaming |revenue |areas, |areas |
subject |to |entertainment |tax, |interactive |gaming, |and |miscellaneous |regulations.
What |procedures |does |Regulation |6.090(15) |require |for |internal |auditors |to |check |
compliance? |- |CORRECT |ANSWER✔✔-Perform |observations, |document |examinations, |inquiry |
with |employees.
Can |employee |complete |questionnaires |be |used |to |replace |an |in |person |inquiry? |- |CORRECT |
ANSWER✔✔-No
