Chapter 7 - IT CISI

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1. What is Statutory Reporting?

  • providing the firm's balance sheet and P&L accounts, then subject to internal & external audit
  • Producing financial and statistical returns demanded by the firm's risk management policy
  • providing the firm's balance sheet and P&L accounts, subject to external audit
  • Producing financial and statistical returns demanded by the firm's regulator
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Other questions in this quiz

2. Which of these would fall under Reference Data Items?

  • Money value of the transaction
  • Account Opening / Closing
  • The name of the account
  • Reference Number

3. What is the underlying principle behind the Doubly-entry bookkeeping?

  • There must be an account being debited, and an account being credited. Total debits = total credits
  • Total debits must equal to total costs
  • All entries must net to 0
  • All accounts are inter-related

4. In an Explosion Table, a "security position" or "security client" would be found in which column?

  • Account Type
  • Transaction type
  • Account Code
  • Market Code

5. What information about the General Ledger should be included in the IT System?

  • Reference Data & Transaction Reporting
  • Account opening & closing
  • Reference Data Items, Balance Information, Transaction Information
  • Reference Data Items & Balance Information

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