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Question: 1 / 400

Which of the following would be considered insurance risk management services?

A. Information-system consultants who upgrade loss controls

Insurance risk management services fundamentally involve identifying, assessing, and mitigating risks that could impact an organization, particularly in relation to insurance coverage. Information-system consultants who upgrade loss controls directly support the task of enhancing an organization's risk management framework. By improving systems that are designed to prevent or reduce losses, these consultants play a critical role in mitigating financial and operational risks, which are central concerns of insurance risk management.

By contrast, the roles of external auditors, IT professionals focused merely on technical functionality, and risk groups that advise on compliance with Sarbanes-Oxley do not directly pertain to the management of insurance risks. External auditors primarily provide assurance on financial statements, which does not inherently involve risk management for insurance purposes. Similarly, IT professionals focused on operational efficiency may not address risk management within the insurance context. Lastly, while compliance with SOX 404 is critical for financial reporting integrity, it does not focus specifically on the management of insurance-related risks. Therefore, the choice that best aligns with insurance risk management services is the role of information-system consultants upgrading loss controls.

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B. External auditors who are hired to review financial statements

C. IT professionals who ensure the treasury workstation properly converts FX

D. Risk group that recommends the CFO approve SOX 404 compliance

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