American Bankers Association Exam CTFA Topic 9 Question 85 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 85
Topic #: 9

[All CTFA Questions]

Internal Control is:

Athe process of controlling the impact of risk related events on a company

Bthe process of planning the processes in order to avoid risk related events to a company

Cthe process of designing the models to avoid risk related events on a company

DAll of the above

Show Suggested Answer

Suggested Answer: A

by Justine at Feb 06, 2025, 05:03 PM

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Fidelia

4 months ago

I think the real internal control here is controlling my urge to just choose 'all of the above' and call it a day. But hey, gotta keep those risks in check, right?

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Jamal

3 months ago

Eura: Definitely, we need to be thorough in our understanding to effectively manage risks.

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Eura

4 months ago

User 2: I agree, but we have to make sure we understand the different aspects of internal control.

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Sanjuana

4 months ago

User 1: I know what you mean, it's tempting to just go with 'all of the above'.

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Jackie

4 months ago

Wait, is this a trick question? I thought internal control was all about keeping the interns in check. Guess I've been doing it wrong this whole time.

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Ling

4 months ago

Hold up, option C has to be the winner here. Designing models to avoid risks is where it's at. That's some serious internal control wizardry right there.

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Lenna

4 months ago

Hmm, I'm leaning towards option B. It's all about planning the processes to avoid those pesky risk-related events, you know?

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Belen

4 months ago

I don't know, I think option D might be the correct answer. Internal control covers a lot of ground, including planning and designing to mitigate risks.

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Broderick

4 months ago

It's important to have a holistic approach to internal control, so option D makes sense.

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Zana

4 months ago

Yes, option D covers all the bases when it comes to internal control.

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Desire

4 months ago

I think you're right, internal control does involve all those aspects.

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Lawrence

4 months ago

I agree, option D seems like the most comprehensive answer.

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Dana

5 months ago

Option A seems pretty straightforward to me. Internal control is all about managing the impact of risks, not just planning or designing to avoid them.

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