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IIA IIA-CFSA-INS Exam Overview:

Certification Vendor:The Institute of Internal Auditors (IIA)
Exam Name:Certified Financial Services Auditor (CFSA) - Insurance Discipline
Exam Number:IIA-CFSA-INS
Exam Duration:175 minutes
Passing Score:600/750
Exam Format:Multiple Choice Questions, Computer-Based Testing
Related Certifications:Certified Financial Services Auditor (CFSA)
Certified Internal Auditor (CIA)
Certification in Risk Management Assurance (CRMA)
Real Exam Qty:115
Certificate Validity Period:Annual renewal required
Available Languages:English
Exam Way:Computer-based exam delivered through authorized testing centers.
Pre Condition:Bachelor's degree or equivalent education and relevant internal auditing or financial services experience were typically required under the CFSA program. Certification program has been retired by IIA; candidates should verify current eligibility and replacement credentials with IIA.
Official Syllabus URL:https://www.theiia.org/globalassets/documents/certifications/ccsa-cfsa-cgap-candidate-handbook.pdf

IIA IIA-CFSA-INS Exam Syllabus Topics:

SectionWeightObjectives
Auditing Financial Services Processes25-35%- Core Insurance Processes
  • 1. Policy administration
  • 2. Actuarial processes
  • 3. Claims management
  • 4. Underwriting operations
- Operational and Financial Processes
  • 1. Fraud prevention and detection
  • 2. Information technology controls
  • 3. Financial reporting
  • 4. Business continuity management
Auditing Financial Services Products25-35%- Insurance Products
  • 1. Reinsurance arrangements
  • 2. Life insurance products
  • 3. Property and casualty insurance
  • 4. Health insurance products
- Product Risks and Controls
  • 1. Underwriting risks
  • 2. Pricing and reserving risks
  • 3. Product compliance requirements
Financial Services Auditing25-35%- Financial Services Risk Framework
  • 1. Audit planning and execution
  • 2. Enterprise risk management
  • 3. Risk assessment methodologies
- IIA International Professional Practices Framework
  • 1. Governance and internal control
  • 2. International Standards for the Professional Practice of Internal Auditing
  • 3. Risk-based auditing
  • 4. Code of Ethics
The Regulatory Environment10-20%- Insurance Regulation
  • 1. Anti-money laundering requirements
  • 2. Insurance regulatory frameworks
  • 3. Consumer protection regulations
  • 4. Solvency and capital requirements
Insurance Discipline20%- Insurance Regulatory Environment
  • 1. Regulatory reporting
  • 2. Insurance laws and regulations
  • 3. Capital adequacy requirements
- Insurance Products
  • 1. Life insurance
  • 2. Health insurance
  • 3. Property and casualty insurance
  • 4. Reinsurance
- Insurance Processes
  • 1. Underwriting
  • 2. Risk management
  • 3. Claims processing
  • 4. Actuarial functions

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