IIA IIA-CRMA Certification in Risk Management Assurance (CRMA) Exam Online Training
IIA IIA-CRMA Online Training
The questions for IIA-CRMA were last updated at Nov 23,2024.
- Exam Code: IIA-CRMA
- Exam Name: Certification in Risk Management Assurance (CRMA) Exam
- Certification Provider: IIA
- Latest update: Nov 23,2024
Which of the following is the most significant disadvantage of using checklists to evaluate internal controls?
- A . They serve as a reminder of what controls should exist in a process.
- B . They require yes/no responses to specific questions, not open-ended responses.
- C . They do not capture all controls that may exist.
- D . They are useful in assessing risk.
According to IIA guidance, which of the following statements is false regarding continuing professional education for the internal audit activity (IAA)?
- A . Continuing professional education can be obtained through IAA involvement in research projects.
- B . Employers are responsible for ensuring that the continuing professional education needs of the IAA are met.
- C . Completion of self-study courses fulfills IAA continuing professional education requirements.
- D . Specialized education that meets unique organizational needs cannot qualify as IAA professional development.
Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?
- A . Which sampling methodology to select for testing.
- B . Which fields to examine on each invoice.
- C . Whether an individual expenditure is allowable.
- D . What level of noncompliance is acceptable.
What type of risk management strategy is being employed when an organization installs two firewalls to provide protection from unauthorized access to the network?
- A . Diversifying the risk that network access will not be available to legitimate, authorized users.
- B . Accepting the risk that there may be attempts at unauthorized access to the network.
- C . Avoiding the risk of having a direct network connection to un-trusted networks.
- D . Sharing the risk that either firewall could be compromised by hackers.
A chief audit executive (CAE) learns that the brother-in-law of a senior auditor who audits the procurement process was hired as the head of the procurement department six months prior.
Which of the following is the most appropriate action for the CAE to take?
- A . The CAE should not interfere because there is no evidence that a conflict of interest has occurred.
- B . The CAE should remind the senior auditor of his obligation to be objective and impartial.
- C . The CAE should change the senior auditor’s assignment and take corrective action for the auditor’s failure to disclose the conflict of interest.
- D . The CAE should require the senior auditor to disclose the relationship in writing before continuing his responsibility for monitoring procurement.
Which of the following audit techniques is used to evaluate control design while also embodying auditing’s analytical process?
- A . A risk and control matrix.
- B . A flowchart.
- C . A walk-through.
- D . A process narrative.
The chief audit executive (CAE) has been asked to manage the regulatory compliance function for the organization’s retail store operations. Store operations are included in the annual audit plan.
Which of the following strategies best fulfills the requirements of the Standards regarding these audits?
- A . The scope of store operations audits should exclude compliance.
- B . Store operations audits can be fully executed with appropriate disclosure to the board.
- C . Store operations audits should be performed by an external service provider.
- D . A store operations compliance audit should be performed by a staff internal auditor under the direction of the CAE.
An accounts receivable clerk receives cash payments, posts the payments to customer accounts, and prepares the daily cash deposit.
The clerk has been stealing some cash and manipulating the customer payments to hide the theft.
This fraud could be detected with which of the following controls?
- A . Monthly bank reconciliations are performed by the clerk on a timely basis.
- B . Total cash deposits for the month are reconciled to the cash receipts journal.
- C . Names, amounts, and dates on remittance advices are reconciled with the names, amounts, and dates recorded in the cash receipts journal.
- D . Total cash deposits are compared with the bank reconciliation.
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