ACC 406 EXAM 1 QUESTIONS WITH
VERIFIED ANSWERS. A+ GRADE
2025/2026.
Access to credit documentation is restricted. Which of the following is the most restricted
document? - ANS Written-off credit instruments.
This checklist that includes statutes, regulations, and the Internal Audit testing steps is called
what? - ANS 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? - ANS All "no" and
"N/A" responses.
The MICS checklist can be given to a casino employee for employee completion? - ANS False
Regulation 6.090(15) requires an Internal Auditor to determine compliance with - ANS All of
the above
The Gaming Control Board has 5 members? - ANS 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. - ANS False
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Which of the following is NOT a purpose of the Gaming Control Board? - ANS 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. - ANS False
Board - prosecutorial
Commission - judicial
The Gaming Commission has 5 members? - ANS True
When performing an observation of a required gaming activity (ex. drop and count) the
observation should be performed how? - ANS On an unannounced basis to all employees.
(officers, directors, or employees)
What is the purpose of the gaming control board? - ANS - 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? - ANS Administration
Audit
Enforcement
Investigations
Tax and license
Technology
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, What is the purposes of the Gaming Commission? - ANS - 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? - ANS Statutes and Regulations
What does the CPA MICS Checklist audit? - ANS MICS
Why did the GCB set up an Internal Audit Compliance Reporting Requirement? - ANS 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? - ANS In conjunction with the CPA MICS Compliance
Checklists
What areas do the IACC cover? - ANS 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?
- ANS Perform observations, document examinations, inquiry with employees.
Can employee complete questionnaires be used to replace an in person inquiry? - ANS No
How often are required procedures checked? - ANS Once each fiscal year except for slots and
table games which is twice a year and branch offices which are once every two or five years.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
VERIFIED ANSWERS. A+ GRADE
2025/2026.
Access to credit documentation is restricted. Which of the following is the most restricted
document? - ANS Written-off credit instruments.
This checklist that includes statutes, regulations, and the Internal Audit testing steps is called
what? - ANS 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? - ANS All "no" and
"N/A" responses.
The MICS checklist can be given to a casino employee for employee completion? - ANS False
Regulation 6.090(15) requires an Internal Auditor to determine compliance with - ANS All of
the above
The Gaming Control Board has 5 members? - ANS 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. - ANS False
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Which of the following is NOT a purpose of the Gaming Control Board? - ANS 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. - ANS False
Board - prosecutorial
Commission - judicial
The Gaming Commission has 5 members? - ANS True
When performing an observation of a required gaming activity (ex. drop and count) the
observation should be performed how? - ANS On an unannounced basis to all employees.
(officers, directors, or employees)
What is the purpose of the gaming control board? - ANS - 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? - ANS Administration
Audit
Enforcement
Investigations
Tax and license
Technology
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, What is the purposes of the Gaming Commission? - ANS - 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? - ANS Statutes and Regulations
What does the CPA MICS Checklist audit? - ANS MICS
Why did the GCB set up an Internal Audit Compliance Reporting Requirement? - ANS 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? - ANS In conjunction with the CPA MICS Compliance
Checklists
What areas do the IACC cover? - ANS 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?
- ANS Perform observations, document examinations, inquiry with employees.
Can employee complete questionnaires be used to replace an in person inquiry? - ANS No
How often are required procedures checked? - ANS Once each fiscal year except for slots and
table games which is twice a year and branch offices which are once every two or five years.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
