ACC 406 Exam 1 with verified detailed answers ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Access to credit documentation is restricted. Which of the following is the most restricted
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
document? - correct answer✔✔Written-off credit instruments. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
This checklist that includes statutes, regulations, and the Internal Audit testing steps is
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
called what? - correct answer✔✔Internal Audit Compliance Checklist
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Detailed explanations must be provided for question on each checklist for responses and for
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
exceptions noted during document testing for what type of responses? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔All "no" and "N/A" responses. ||\\//|| ||\\//|| ||\\//|| ||\\//||
The MICS checklist can be given to a casino employee for employee completion? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔False
Regulation 6.090(15) requires an Internal Auditor to determine compliance with - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔All of the above ||\\//|| ||\\//|| ||\\//||
The Gaming Control Board has 5 members? - correct answer✔✔False it has 3 members
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
If Internal Audit is used to substitute for CPA work there are no items the CPA is required
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
to be perform. - correct answer✔✔False
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is NOT a purpose of the Gaming Control Board? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔To approve, restrict, limit, condition, deny, revoke, or suspend any gaming ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
license.
,When discipline against a gaming licensee is appropriate the Board acts in the judicial
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
capacity and the Commission acts in the prosecutorial capacity. - correct answer✔✔False
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Board - prosecutorial ||\\//|| ||\\//||
Commission - judicial ||\\//|| ||\\//||
The Gaming Commission has 5 members? - correct answer✔✔True
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
When performing an observation of a required gaming activity (ex. drop and count) the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
observation should be performed how? - correct answer✔✔On an unannounced basis to all ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
employees. (officers, directors, or employees) ||\\//|| ||\\//|| ||\\//|| ||\\//||
What is the purpose of the gaming control board? - correct answer✔✔- Eliminate the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
undesirable elements in Nevada gaming ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Provide regulations for licensing
||\\//|| ||\\//|| ||\\//|| ||\\//||
- Provide regulations for the operation of gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Establish rules and regulations for all tax reports submitted by the gaming licensees
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Protect the stability of the gaming industry through investigations, licensing, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
enforcement of laws and regulations ||\\//|| ||\\//|| ||\\//|| ||\\//||
- To ensure the collection of gaming taxes and fees
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- To maintain public confidence in gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What are the division of the Gaming Control Board? - correct answer✔✔Administration
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Audit
Enforcement
Investigations
Tax and license
||\\//|| ||\\//||
Technology
, What is the purposes of the Gaming Commission? - correct answer✔✔- Acting on
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
recommendations of the Board in licensing matters ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Ruling upon work permit case appeals
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Has the final authority on licensing matters
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Ability to approve, restrict, limit, condition, deny, revoke, or suspend any gaming license
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Adopting regulations to implement and enforce the state laws governing gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What does the Internal Audit Compliance Checklist audit? - correct answer✔✔Statutes and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Regulations
||\\//||
What does the CPA MICS Checklist audit? - correct answer✔✔MICS
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Why did the GCB set up an Internal Audit Compliance Reporting Requirement? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔To ensure all gaming licencees are performing a minimum amount and similar ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
types of compliance procedures with internal audit programs, checklists, and guidelines.
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What checklist does the IACC used with? - correct answer✔✔In conjunction with the CPA
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
MICS Compliance Checklists ||\\//|| ||\\//||
What areas do the IACC cover? - correct answer✔✔All gaming revenue areas, areas subject
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
to entertainment tax, interactive gaming, and miscellaneous regulations.
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What procedures does Regulation 6.090(15) require for internal auditors to check
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
compliance? - correct answer✔✔Perform observations, document examinations, inquiry ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
with employees. ||\\//||
Access to credit documentation is restricted. Which of the following is the most restricted
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
document? - correct answer✔✔Written-off credit instruments. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
This checklist that includes statutes, regulations, and the Internal Audit testing steps is
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
called what? - correct answer✔✔Internal Audit Compliance Checklist
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Detailed explanations must be provided for question on each checklist for responses and for
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
exceptions noted during document testing for what type of responses? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔All "no" and "N/A" responses. ||\\//|| ||\\//|| ||\\//|| ||\\//||
The MICS checklist can be given to a casino employee for employee completion? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔False
Regulation 6.090(15) requires an Internal Auditor to determine compliance with - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔All of the above ||\\//|| ||\\//|| ||\\//||
The Gaming Control Board has 5 members? - correct answer✔✔False it has 3 members
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
If Internal Audit is used to substitute for CPA work there are no items the CPA is required
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
to be perform. - correct answer✔✔False
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is NOT a purpose of the Gaming Control Board? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔To approve, restrict, limit, condition, deny, revoke, or suspend any gaming ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
license.
,When discipline against a gaming licensee is appropriate the Board acts in the judicial
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
capacity and the Commission acts in the prosecutorial capacity. - correct answer✔✔False
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Board - prosecutorial ||\\//|| ||\\//||
Commission - judicial ||\\//|| ||\\//||
The Gaming Commission has 5 members? - correct answer✔✔True
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
When performing an observation of a required gaming activity (ex. drop and count) the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
observation should be performed how? - correct answer✔✔On an unannounced basis to all ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
employees. (officers, directors, or employees) ||\\//|| ||\\//|| ||\\//|| ||\\//||
What is the purpose of the gaming control board? - correct answer✔✔- Eliminate the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
undesirable elements in Nevada gaming ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Provide regulations for licensing
||\\//|| ||\\//|| ||\\//|| ||\\//||
- Provide regulations for the operation of gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Establish rules and regulations for all tax reports submitted by the gaming licensees
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Protect the stability of the gaming industry through investigations, licensing, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
enforcement of laws and regulations ||\\//|| ||\\//|| ||\\//|| ||\\//||
- To ensure the collection of gaming taxes and fees
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- To maintain public confidence in gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What are the division of the Gaming Control Board? - correct answer✔✔Administration
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Audit
Enforcement
Investigations
Tax and license
||\\//|| ||\\//||
Technology
, What is the purposes of the Gaming Commission? - correct answer✔✔- Acting on
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
recommendations of the Board in licensing matters ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Ruling upon work permit case appeals
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Has the final authority on licensing matters
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Ability to approve, restrict, limit, condition, deny, revoke, or suspend any gaming license
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- Adopting regulations to implement and enforce the state laws governing gaming
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What does the Internal Audit Compliance Checklist audit? - correct answer✔✔Statutes and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Regulations
||\\//||
What does the CPA MICS Checklist audit? - correct answer✔✔MICS
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Why did the GCB set up an Internal Audit Compliance Reporting Requirement? - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔To ensure all gaming licencees are performing a minimum amount and similar ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
types of compliance procedures with internal audit programs, checklists, and guidelines.
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What checklist does the IACC used with? - correct answer✔✔In conjunction with the CPA
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
MICS Compliance Checklists ||\\//|| ||\\//||
What areas do the IACC cover? - correct answer✔✔All gaming revenue areas, areas subject
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
to entertainment tax, interactive gaming, and miscellaneous regulations.
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What procedures does Regulation 6.090(15) require for internal auditors to check
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
compliance? - correct answer✔✔Perform observations, document examinations, inquiry ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
with employees. ||\\//||
