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MFA Chapter 04 Question Paper

The document outlines an examination for a Certificate in Accounting and Finance, focusing on managerial and financial analysis. It highlights issues in the IT system of the Apex Institute of Business and Finance, including weak password practices, manual data entry errors, unencrypted student data, and outdated server security. The examination requires students to identify threats and suggest controls, as well as define disruptive technology and assess various technological advancements.

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Sameer asif
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36 views1 page

MFA Chapter 04 Question Paper

The document outlines an examination for a Certificate in Accounting and Finance, focusing on managerial and financial analysis. It highlights issues in the IT system of the Apex Institute of Business and Finance, including weak password practices, manual data entry errors, unencrypted student data, and outdated server security. The examination requires students to identify threats and suggest controls, as well as define disruptive technology and assess various technological advancements.

Uploaded by

Sameer asif
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Certificate in Accounting and Finance Stage Examination

04 June 2025
30 Minutes – 15 marks
Sir Abdul Azeem

Managerial and Financial Analysis


Test – 06
Question 01:

Apex Institute of Business and Finance is a fast-growing online education platform providing coaching to
students of professional accounting qualifications. The institute has developed its own Learning Management
System (LMS) and handles all student registrations, payments, and content delivery through its website and
portal.

During an internal audit of IT system controls, the following observations were noted:

 Administrative and academic staff manage the LMS through a shared admin account with a common
password to avoid login delays. Some staff members still use basic passwords like ‘12345678’ or their
own names. Institute has not enforced any password policy yet.
 Occasionally, student records are updated incorrectly due to manual data entry errors, which go
unnoticed until a student complains. This often results in incorrect course enrollments or delayed access
to online lectures.
 Student details such as names, addresses, contact numbers, and fee records are stored in a central
database. However, this information is transmitted and stored in plain text, as encryption has not yet
been enabled.
 The system is hosted on an older server with outdated antivirus software, and many plugins used in the
LMS were downloaded from free sources online without checking their authenticity.

Required:

a) Identify the threats in above four observations in the IT system of Apex Institute of Business and
Finance as described above. (04)
b) For each identified threat, suggest one appropriate general control and one application control that
should be implemented to mitigate the risk. (04)

Question 02:
Examples of technological advancements include Quantum computing, USB – Type C, Internet of Things
(IoT), LED, Satellite network, wireless charging pads and Bioplastic packaging.
Required: Define disruptive technology and discuss whether each example of technological advancements
listed above is disruptive or non-disruptive and why is it so. (07)

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