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Exam Code: CITP Practice test 2022 by Killexams.com team
CITP Certified Information Technology Professional (CITP)

The content of the Certified Information Technology Professional (CITP) Examination was developed to test a candidates understanding of the fundamental sections of the CITP body of knowledge. The content of each of the topical sections is described in outline form and provides an overview of the knowledge and skills tested on the CITP Examination.
The examination questions are intended to test each content area and its logical extensions.
The percentage following each major content area in the outline represents the approximate weighting for that content area. The examination is fully computerized and consists of multiple-choice questions only

Module I: Information Security & Cyber Risks
A. Information Security Governance (25%)
1. Information security strategy
2. Policy, procedures, processes, and standards
3. Logical access controls
4. Hardware and physical access controls
5. Security authorization & authentication
6. Business continuity & disaster recovery
B. Cybersecurity Risk Management (12%)
1. Cybersecurity threats
2. Data breaches and privacy
3. Vulnerability management
C. SOC for Cybersecurity (3%)
1. Purpose
2. Content
3. Target audiences
4. How to use in conjunction with cybersecurity risk mitigation
Module II: Business Intelligence, Data Management and Analytics
A. Data Management (5%)
1. Information lifecycle management
2. Infrastructures and platforms
3. Data preparation/manipulation
4. Data governance
B. Data Analysis & Reporting (11%)
1. Data analytics
2. Predictive analytics
3. Audit data analytics
C. Business Intelligence Management (4%)
1. Digital transformation & technology disruptors
2. Data integration
3. Data warehousing
Module III: IT Governance, Risks & Controls
A. IT Governance & Strategy (15%)
1. Role of IT governance within an organization
2. IT governance principles
3. IT governance roles & responsibilities
4. IT governance implementation
5. Benefits of effective IT governance
B. IT Risks, Process & Controls (15%)
1. IT risk identification and assessment
2. IT control frameworks
3. IT general controls
4. Application controls
5. Business process management
6. Change management
7. Assessment of IT controls
C. System and Organization Controls Reporting (10%)
1. System and Organization Controls Reporting Overview
2. Types of Reporting

Detailed content specification outline
Module 1. Information Security & Cyber Risks
This module focuses on the security and risk management of systems and environments, including the use of the SOC for Cybersecurity report as a tool for reporting IT security and risk management for companies.
Information Security Governance — Covers the key areas of information security, including strategy, policies/procedures, control environments, and business continuity/disaster recovery; includes fundamental knowledge of various IT governance frameworks, logical access at the various levels of the “stack,” and the internal control structure of design, implementation, monitoring, and detection/reporting
Cybersecurity Risk Management — Covers the major threat vectors for systems, including cyber adversaries, the cybercrime economy
and various types of attacks; also includes data breaches and their impact on information privacy, as well as how to manage system vulnerabilities
SOC for Cybersecurity — Covers the SOC for Cyber report, including report content, target users and use of the report in conjunction with an entitys overall cybersecurity risk mitigation strategy

A. Information Security Governance (25%)
1. Information security strategy
a. Objectives
b. Components
c. Alignment with organizational strategy, IT strategy
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
2. Policy, procedures, processes, and standards
a. Frameworks
b. Compliance with applicable laws and regulations
c. Roles and responsibilities
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
3. Logical access controls
a. Objectives
b. Data (transactional. level
c. Application and financial system level
d. Network level
e. Identifying, designing, implementing, monitoring, detecting and reporting
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 3 — Logical access controls
4. Hardware and physical access controls
a. Objectives
b. Identifying, designing, implementing, monitoring, detecting and reporting
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 4 — Physical access controls
5. Security authorization and authentication Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 2 — Identity and access management
6. Business continuity and disaster recovery
a. Business continuity plan (BCP)
b. Disaster recovery plan (DRP)
c. Incident response plan (IRP)
d. Data backup and recovery
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 6 — Business continuity management

B. Cybersecurity Risk Management (12%)
1. Cybersecurity threats
a. Primary types of cyber adversaries (how to identify, what is their motivation.
1. How to identify
2. What is their motivation
3. How to manage/mitigate risk
4. Terms to use — Hacktivists, Nation states, Cybercriminals, Insider threat,
Competitors
b. Cybercrime economy (what could potentially drive a cybercrime against
a company.
c. Types of attacks
1. How to identify
2. Effect on the business/financials
3. How to manage/mitigate risk
4. Terms to use — Classic buffer overflow, Web-based application attacks,
Denial of Service/DDoS, Malware, ransomware, and spyware,
phishing/spear phishing, Social engineering
Cybersecurity Fundamentals for Finance &
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
2. Data breaches and privacy
a. Causes of a data breach
b. Organizational impact of a data breach
c. Post breach response (business/financial point of view)
d. Personally Identifiable Information (PII)
Cybersecurity Fundamentals for Finance and
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
3. Vulnerability management
a. Gap analysis, readiness and risk assessments, vulnerability assessments,
penetration testing (identification of vulnerabilities and how they could impact
business/financials.
b. Security policy & plan development (input regarding business/financial
implications in the policies/procedures.
1. Identity and access management (IAM)
2. Data loss management and prevention
Cybersecurity Fundamentals for Finance and
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
C. AICPA Cybersecurity Risk Management Reporting Framework (SOC for Cybersecurity) (3%)
1. Purpose
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
2. Content
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
3. Target audiences
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
Detailed content specification outline
Module II. Business Intelligence, Data Management & Analytics
This module focuses on information management and the utilization of information to provide value in decision-making and other managerial needs.
Data Management — Covers the information lifecycle, from identification of system information through destruction and the various types
of infrastructures and ERPs to support data; also discusses how data is collected and manipulated, including consolidation, cleaning, transformation, reduction, processing, etc.; lastly, covers the governance of data including objectives, strategy, and policies Data Analysis & Reporting — Covers the various types of data analytics, the tools and procedures to perform an analysis, and the methods of reporting and performance indicators; also covers the use of predictive analytics, including the various models, techniques, applications and deployment; lastly, covers the integration of analytics in the audit process, including risks and assertions, and continuous assurance Business Intelligence Management — Covers the various forms of technology disruptors, including cloud tech, IoT, and AI; also covers the use of data integration (ETL, EAI and EDR) as well as data warehousing (Active, OLAP, ROLAP, MOLAP, HOLAP and DOLAP)

A. Data Management (5%)
1. Information Lifecycle Management
a. Identify
b. Capture
c. Manage
d. Utilize
e. Archive
f. Retention
g. Destruction
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
2. Infrastructures & platforms
a. Types of Infrastructure/Platforms typically employed
1. ERP or other enterprise software
i. ERP implementation
2. Data warehouse infrastructure
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
3. Data preparation/manipulation
a. Data consolidation
b. Data mapping and collection
c. Data selection
d. Data cleaning
e. Data transformation
f. Data reduction
g. Data processing
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

A. Data Management (5%)
4. Data governance
a. Objectives
b. Principles
c. Strategy
d. Policy
e. Architecture
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
B. Data Analysis & Reporting (11%)
1. Data analytics
a. Types
1. Quantitative analysis
2. Descriptive statistics
3. Data visualization
b. Tools, techniques, and procedures
c. Performance metrics and reporting
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
2. Predictive analytics
a. Types
1. Predictive models
2. Descriptive models
3. Decision models
b. Techniques
1. Regression
2. Machine learning
c. Applications of predictive analytics
d. Deployment
Forecasting and Predictive Analytics Certificate
Program
CPE self-study
Publisher: AICPA
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
3. Audit data analytics
a. Integrating analytics into the audit process
1. Audit applications of data analytics
2. Correlating audit tasks to risks and assertions
3. Continuous assurance
Integrating Audit Data Analytics into the Audit
Process
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

C. Business Intelligence Management (4%)
1. Digital transformation & technology disruptors
a. Cloud
b. Internet of Things (IoT)
c. Artificial intelligence
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
2. Data integration
a. Extract, Transform, and Load (ETL)
b. Enterprise Application Integration (EAI)
c. Enterprise Data Replication (EDR)
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
3. Data warehousing
a. Role in supporting BI
b. Architecture and components
c. Types
1. Active Data Warehousing
2. Multi-dimensional Analysis — OLAP
3. ROLAP, MOLAP, HOLAP and DOLAP
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

Detailed content specification outline
Module III: IT Governance, Risks & Controls
This includes knowledge pertaining to information technology risk and advisory services, engagement compliance, and IT controls and assessment. It also covers knowledge of various IT frameworks and related controls, including the use of SOC reporting as a framework to showcase a service organizations internal control environment.
IT Governance & Strategy — Covers the objectives, strategic planning, implementation and management of the IT function within an organization, as well as mitigation of risk; focuses on the management of value, resources, and performance in relation to key components and best practices of the IT function IT Risks, Process, & Controls — Discusses various IT frameworks, including COSO and COBIT, and the integration of frameworks with IT assessments; covers a variety of key control areas for IT assessments, including ITGCs, application, business process and change management controls System and Organizational Controls (SOC) Reporting — Focuses on the purposes for SOC reporting, the users of SOC reports, and the responsibilities of user auditors

A. IT Governance & Strategy (15%)
1. Role of IT governance within an organization
a. IT governance objectives
b. Management of the IT function
c. Mitigation of IT risk
d. IT strategic plan
1. Alignment with organizational strategy
IT Governance, Risks & Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
Information Strategy
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
2. IT governance principles
a. Strategy and planning
1. Key components
2. Best practices
b. Value delivery management
1. Key components
2. Best practices
c. Resource management
1. Key components
2. Best practices
d. Risk management
1. Key components
2. Best practices
e. Performance management
1. Key components
2. Best practices
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
3. IT governance roles and responsibilities IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
4. IT governance implementation IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 2 — Implement and Assess IT Governance
5. Benefits of effective IT governance IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 2 — Implement and Assess IT Governance

B. IT Risks, Process & Controls (15%)
1. IT risk identification and assessment IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 3 — IT Risk Management
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
2. IT control frameworks
a. COSO
1. Categories of objectives
2. Integrated components & principles
b. COBIT
1. Domains
c. Integration of control frameworks
COSO Internal Control Certificate Program
CPE self-study
Publisher: Committee of Sponsoring Organizations
(COSO.
Internal Control and COSO Essentials for Financial
Managers, Accountants and Auditors
CPE self-study
Author: Glenn L. Helms
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
3. IT general controls
a. Objectives of IT general controls
b. Types of IT general controls (including ERP)
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwenn Bettwy, Mark Williams, Mike
Beavers
Publisher: AICPA
Module 3 — Logical access controls
4. Application controls
a. Objectives of application controls
b. Input controls
c. Processing controls
d. Output controls
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams, Mike Beavers
Publisher: AICPA
Module 3 — Logical access controls

Certified Information Technology Professional (CITP)
Financial Professional test Questions
Killexams : Financial Professional test Questions - BingNews https://killexams.com/pass4sure/exam-detail/CITP Search results Killexams : Financial Professional test Questions - BingNews https://killexams.com/pass4sure/exam-detail/CITP https://killexams.com/exam_list/Financial Killexams : Investment Banking Series 79 Exam

Passing the Series 79 test is required for applicants of entry-level jobs as investment banking representatives. In addition to the Securities Industry Essentials (SIE) exam, this test is a necessary step to obtaining registration for the job. Both tests are administered by the Financial Industry Regulatory Authority (FINRA).

The Series 79 is considered a lighter version of the Series 7 exam, but don't be fooled because it's deceptively difficult. Keep memorizing to learn more about the Series 79 exam, including prerequisites, what you'll need to pass, and the breakdown of the test.

Key Takeaways

  • Financial professionals who want to work in investment banking are required by the Financial Industry Regulatory Authority to pass the Series 79 exam.
  • Candidates must be sponsored by a FINRA member to take the exam.
  • The test is a multiple-choice test with 75 questions covering subjects like debt and equity offerings, mergers and acquisitions, and financial restructuring.
  • The test takes 150 minutes and is taken on a computer.
  • A passing grade is 73% and above.

The Basics of The Series 79 Exam

Focus on Investment Banking

The Series 7 was required of all financial professionals, including those who wanted to become investment bankers prior to 2009. Investment banking is only a small portion of the Series 7 exam, most of which is more relevant to the functions and services of retail securities firms. An investment banking committee agreed on the major duties, job functions, and tasks associated with those working in the field after conducting a job analysis. This allowed for changes to be made.

The Securities and Exchange Commission (SEC) approved the new Series 79 exam in 2009. This test, which is also known as the Investment Banking Representative Qualification Examination, is commonly referred to as the Limited Representative Investment Bankers exam because it was designed for entry-level investment bankers.

There are specific areas of finance for which one will likely need the Series 79 license. FINRA Rule 1220(b)(5) defines the different types of representative categories, and section (i) Limited Representative-Investment Banking gives a thorough explanation of the areas.

Series 79 test Prerequisites

The Series 79 test satisfies the Series 24 prerequisite as a representative exam. Since the test focuses on investment banking, the Series 24 General Securities Principal is limited to investment banking supervisory responsibilities if the candidate only has passed the Series 79 exam.

Testers generally need the Series 79 registration even if they already have the Series 7. This is one of the only cases where the Series 79 can be used as a prerequisite instead of the Series 7. Candidates may need the Series 79 to work in a number of key areas, including debt, equity, or mergers and acquisitions (M&A).

Debt or Equity Offerings

Companies have several options available to them when they need to raise money. Along with borrowing money from a financial institution, they may issue a debt or equity offering:

  • A debt offering normally comes in the form of a coupon or corporate bond, in which the issuer promises to pay the bondholder or investor their principal investment along with interest by a certain date.
  • An equity offering, on the other hand, involves the issuance of new shares of corporate stock. Doing so gives investors an ownership stake in the company.

Debt or equity activities that may require a series 79 include:

  • Pricing of securities in debt and equity offerings
  • Origination, which deals with equity capital markets and debt capital markets
  • Underwriting
  • Marketing
  • Structuring
  • Syndication
  • Managing the allocation and stabilization activities of offerings

Mergers and Acquisitions (M&A) and Restructuring

Advisory services are a very important part of an investment banker's role, especially when it mergers and acquisitions. M&A refers to the consolidation of companies or assets. This can take place through a number of financial transactions. Some responsibilities that a Series 79 might be required for under this category can include:

  • Tender offers
  • Selling assets
  • Corporate reorganization or divestitures
  • Transactions involving business combinations, which might include rendering solvency and fairness opinions

Series 79 Exceptions

Series 79 registration may not be required for professionals who have limited involvement in investment banking activities. There is some leeway, though, in some jobs in which new associates rotate among various business areas and departments for training purposes. These financial professionals are generally given a six-month grace period while they are training. For a complete guide to exemptions, look at FINRA Rule 1230.

The genuine Exam

A tutorial on the test is provided prior to taking it. The test is made up of 75 multiple choice questions and is completed on a personal computer. Each candidate’s test includes 10 additional questions that do not contribute to the candidate's score.

Candidates are given 150 minutes to complete the exam. The results are available immediately after the test as a pass or fail grade, with a breakdown of the candidate's performance in each section. Individuals need to answer 73% of the questions correctly for a passing score.

Candidates must be sponsored by a FINRA member to take the exam. Requirements for eligibility include taking the appropriate qualification examination. Individuals are required to pass both the Series 79 and SIE exams in order for test-takers to become registered.

You don't need to be take the Series 79 and the SIE exams at the same time.

Test Sections

There are three sections to the test. The 10 additional questions are scattered throughout at random and are not identified as such.

Collection, Analysis, and Evaluation of Data

This is the largest section, taking up 49% of the test with 37 questions. It includes identifying the relevant data and knowing where to find it. For example, you may need to know what will be in proxy statements Form 14A or Form 4s for beneficial ownership of directors.

This section also goes into communicating with various departments and clients, using metrics and ratios, and analyzing trends to evaluate what you have found in the firm and sector data.

Candidates are also tested on their understanding of due diligence activities in this section, such as the regulatory requirement for the buy and sell sides.

Underwriting/New Financing, Offerings, and Securities Registration

This section has 20 questions, making up 27% of the test.

It deals with regulations for filing and registering securities. This includes forms, such as the prospectus, as well as rules, and required financial statements.

This section also covers the distribution of marketing materials and any associated rules.

M&A, Tender Offers, and Financial Restructuring

With a total of 18 questions, this section is roughly 24% of the exam.

Some of the issues covered in this part of the test relate to buy-side and sell-side transactions, the fairness opinion, and SEC rules and regulations. It also tests a candidate's knowledge of tender offer regulations and financial restructuring.

All About the Investment Banking Series 79 test FAQs

Is the Series 79 Easier Than the Series 7?

The Series 79 and Series 7 are two different exams required by financial professionals who wish to obtain registration by FINRA. While the Series 7 is required by all securities representatives at the entry-level, the Series 79 test is a requirement for anyone who wants to work as an entry-level investment banker. The Series 79 test is 75 questions and takes 2.5 hours while the Series 7 is made up of 125 questions and takes three hours 45 minutes to complete.

How Hard Is the Series 79 To Pass?

The Series 79 test is more difficult than the Securities Industry Essentials exam. The SIE test is commonly considered an introductory test while the Series 79 involves concepts that may be more complex required by those who need a higher degree of skills in the investment banking industry.

How Do You Prepare For the Series 79 Exam?

There are a number of Series 79 prep courses you can take in order to prepare yourself for the exam. These courses provide you with study materials and practice tests that you can take. Many of them come at a cost, ranging between $200 to $300.

Who Needs to Take the Series 79 Exam?

Financial professionals who wish to work as entry-level investment bankers are required to take (and pass) the Series 79 exam. Candidates must also pass the Securities Industry Essentials test in order to obtain registration, although it isn't required that the exams are taken together.

The Bottom Line

Anyone who wishes to perform certain duties in the financial industry must become a registered representative with the Financial Industry Regulatory Authority. In order to become registered, individuals must pass certain exams. The type of test depends on the type of position they seek. Professionals who want to become entry-level investment bankers must pass the Series 79 exam, along with another test—the Securities Industry Essentials exam. The Series 79 tests an individual's knowledge and skills in a number of areas, including debt and equity offerings, along with tender offers, mergers and acquisitions, new financing, and financial restructuring.

Fri, 14 Aug 2020 03:36:00 -0500 en text/html https://www.investopedia.com/articles/professionaleducation/11/series-79-exam.asp
Killexams : 5 Quick and Dirty Questions to Pick a Financial Adviser

Registered adviser, fiduciary, independent adviser, investment adviser representative, RIA, licensed, designated, unbiased, what does it all mean? As an investor seeking an adviser, it can certainly be confounding.

Various types of licenses, designations, financial industry jargon and affiliation options are a lot for anyone to digest. Twenty-two years of helping people understand it all has led me to a profoundly simple list of questions to help you decide if an adviser is right for you. Here it is:

  1. Do you know them? (Where they introduced through a trusted friend, family member or other adviser?)
  2. Do you like them?
  3. Are they patient with you?
  4. Is s/he a CFP® professional?
  5. Does s/he have at least 10 years of experience?