Key Control Procedures for Derivative Financial Instruments Include All but Which

question 28

Multiple Choice

Key control procedures for derivative financial instruments include all but which of the following?

• A)Derivatives activities are monitored by independent control staff.
• B)Accurate transmittals of derivatives positions are made to the risk measurement systems.
• C)Reconciliations are performed to ensure data integrity across a full range of derivatives.
• D)Access to derivatives is limited to the CEO,CFO,or Board chair.

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Definitions:

Vandalism

The intentional and malicious destruction, damage, or defacement of property without the consent of the owner.

Community Property

A legal framework in some states dictating that property acquired during a marriage is owned jointly by both spouses.

Land Acquired

Refers to the purchase or obtaining ownership of land or property.

Real Property

Land and anything permanently attached to it, such as buildings and structures.