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1. Which of the following is a core concept in the BACCM? A. Solution Development B. Change C. Project Management D. Process Mapping Answer: B Change is one of the six core BACCM concepts. 2. Which knowledge area focuses on defining stakeholder requirements? A. Strategy Analysis B. Requirements Analysis and Design Definition C. Requirements Life Cycle Management D. Elicitation and Collaboration Answer: B RADD includes specifying and modeling stakeholder and solution ...

1. Independence in a government audit requires that the auditor: A. Follows internal agency procedures only B. Maintains objectivity and is free from conflicts of interest C. Is employed by the entity being audited D. Receives directives from political officials Independence is critical in GAGAS and requires auditors to avoid conflicts that could compromise objectivity. 2. Which ethical principle emphasizes honesty and fairness in reporting audit results? A. Objectivity B. Pr...

1. Which of the following is a primary responsibility of a public finance officer? A) Marketing municipal bonds B) Managing municipal finances ** C) Issuing corporate dividends D) Auditing private companies Rationale: Public finance officers are responsible for overseeing the financial management of government entities, including budgeting, investment, and debt management. 2. A city issues a 10-year municipal bond at a premium. How will this affect the city’s financial stat...

1. The primary purpose of a financial services audit is to: A. Assess employee satisfaction B. Evaluate the adequacy of internal controls C. Increase profitability D. Market financial products Rationale: Financial services audits focus on assessing internal controls, risk management, and compliance, not employee satisfaction or sales. 2. Which of the following is a key component of a risk-based audit approach? A. Reviewing marketing strategies B. Focusing on areas with high...

1. Which of the following is the primary purpose of anti-money laundering (AML) regulations? A. To maximize bank profits B. To detect and prevent illicit financial activities C. To support investment strategies D. To monitor customer satisfaction Answer: B Rationale: AML regulations are designed to detect and prevent the flow of illicit funds through financial systems, reducing crime and terrorism financing. 2. Which stage of money laundering involves placing illicit funds ...

1. Which of the following best describes the primary goal of corporate treasury? A. Maximizing profits B. Minimizing costs C. Ensuring liquidity and managing risk D. Managing employee benefits Answer: C. Ensuring liquidity and managing risk Rationale: The primary role of corporate treasury is to ensure the organization has sufficient liquidity to meet obligations while managing financial risks. 2. Which of the following is a short-term financing tool used by treasurers? A...

1. Which of the following best describes operational risk? A) Risk of market price movements affecting portfolio value B) Risk of losses due to inadequate internal processes, people, or systems C) Risk of default by a counterparty D) Risk of regulatory changes affecting valuation Answer: B Operational risk arises from failures in internal processes, people, or systems, and includes fraud, errors, and IT failures. 2. Scenario analysis is most useful for: A) Measuring historica...

1. Which of the following is a key focus of CMT Level III compared to Level II? A) Identifying chart patterns B) Portfolio management and trading strategies C) Technical indicators only D) Market microstructure Answer: B) Portfolio management and trading strategies Rationale: Level III emphasizes applying technical analysis to portfolio management, trading, and risk management decisions rather than solely pattern recognition. 2. Risk-adjusted performance measurement most co...

1. Technical analysis primarily focuses on: A) Company financial statements B) Economic indicators C) Price and volume data D) Management quality Technical analysis studies price movements and trading volume rather than fundamentals. 2. Which of the following is considered a lagging indicator? A) Moving averages B) Relative Strength Index (RSI) C) MACD histogram D) Bollinger Bands A) Moving averages Moving averages are based on past prices, so they lag current market ...

1. Which of the following is primarily responsible for processing customer orders at a broker-dealer? A) Compliance Department B) Operations Department C) Sales Department D) Legal Department The Operations Department handles the processing, confirmation, and settlement of customer orders. 2. A broker-dealer must maintain customer account records under which SEC rule? A) Rule 15c3-1 B) Rule 17a-3 C) Rule 10b-5 D) Rule 144 Rule 17a-3 outlines the requirements for the m...