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IIA-CRMA Exam Dumps Contains FREE Real Quesions from the Actual Exam
What is the Passing Score, Duration & Question for the IIA-CRMA Exam:
Passing Score, Duration & Question for the IIA-CRMA program is given below:
- Success score ranges: 250-750 score
- Languages: English
- Duration: 150 Minutes
- No. of questions: 120
- Exam Format: Variety of question type
NEW QUESTION 46
Which of the following does not need to be defined in the internal audit charter?
- A. The audit engagements to be performed during the upcoming year.
- B. Management and the board of directors' agreement regarding the roles and responsibilities of the internal audit activity.
- C. The internal audit activity's position within the organization.
- D. The scope of internal audit activities.
Answer: A
NEW QUESTION 47
Which of the following is not an objective of internal control?
- A. Accuracy.
- B. Efficiency.
- C. Validation.
- D. Compliance.
Answer: C
NEW QUESTION 48
Which two of the following are preventive controls in a check disbursement process?
1. Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-reconciled items.
2. Segregation of the following duties: establishing new vendors, approving checks, and reconciling the bank account.
3. An activity report detailing who accesses the check disbursement system and the nature of any action taken in the system.
4. Evidence of strong access controls ensuring that authorized individuals have access only to the functions related to their responsibilities.
- A. 1 and 4.
- B. 1 and 3.
- C. 2 and 3.
- D. 2 and 4.
Answer: D
NEW QUESTION 49
An organization invests its savings in a volatile stock with the potential for high gains rather than a mutual fund with a lower expected return and lower volatility. This best describes which of the following risk concepts?
- A. Risk capacity.
- B. Risk identification.
- C. Risk tolerance.
- D. Risk appetite.
Answer: C
NEW QUESTION 50
Which of the following control activities is the most effective to ensure users' levels of access are appropriate for their current roles?
- A. System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.
- B. Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.
- C. The human resources department generates a monthly list of terminated and transferred employees and requests IT to update the user access as required.
- D. Department managers are required to perform periodic user access reviews of relevant systems and applications.
Answer: D
NEW QUESTION 51
Which of the following types of social responsibilities is voluntary and guided purely by the organization's desire to make social contributions?
- A. Ethical responsibility.
- B. Innovative responsibility.
- C. Discretionary responsibility.
- D. The bottom of the pyramid responsibility.
Answer: A
NEW QUESTION 52
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?
- A. The services must be aligned with those defined in the internal audit charter.
- B. The services may preclude assurance services from the consulting engagement.
- C. The services impose no responsibility to communicate information other than to the engagement client.
- D. The services must not be performed by the same internal auditor who performed assurance services, in order to maintain objectivity.
Answer: D
NEW QUESTION 53
Which of the following documents is most appropriate in promoting the objectivity of the internal audit activity?
- A. Risk management framework.
- B. Usage of IT system policy.
- C. Personal responsibility policy.
- D. Acceptance of gifts policy.
Answer: D
NEW QUESTION 54
Which of the following statements is true with regard to conducting an effective quality assurance and improvement program?
- A. The conclusions of periodic internal assessments are intended to assist in achieving conformity to the Standards.
- B. The IIA's Quality Assessment Manual for the Internal Audit Activity must be used as the basis for periodic assessments.
- C. Members of the internal audit activity are not permitted to perform quality assessments, as they would not be independent.
- D. Periodic internal assessments provide the most current and independent recommendations for improvement.
Answer: A
NEW QUESTION 55
A new director was hired to lead the internal audit activity at a small start-up company. Which of the following assignments would impair the director's independence?
- A. Performing a pre-implementation review of the company's payroll application.
- B. Reviewing the company's policy for foreign currency translation adjustments for compliance with accounting standards.
- C. Providing the COBIT framework as a possible IT management tool.
- D. Preparing the financial statements for the company's defined contribution plan.
Answer: D
NEW QUESTION 56
Which of the following is an example of a directive control?
- A. Automated reconciliations.
- B. Exception reports.
- C. Segregation of duties.
- D. Incentive compensation plans.
Answer: D
NEW QUESTION 57
During an internal audit, the internal auditor compares the employee turnover rate in the area being audited with the employee turnover rate in the organization as a whole.
This is an example of which of the following analytical auditing procedures?
- A. Trend analysis.
- B. Reasonableness test.
- C. Benchmarking.
- D. Regression analysis.
Answer: C
NEW QUESTION 58
A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annua snowfall for the coming winter. Which of the following best describes this type of risk?
- A. Inherent.
- B. Accepted.
- C. Residual.
- D. Net.
Answer: A
NEW QUESTION 59
An internal audit activity (IAA) provided assurance services for an activity it was responsible for during the preceding year.
As a result, which IIA Code of Ethics principle is presumed to be impaired?
- A. Flexibility.
- B. Independence.
- C. Objectivity.
- D. Competence.
Answer: C
NEW QUESTION 60
Which of the following statements is true regarding the use of non-statistical sampling in auditing control tests?
- A. Lesser evidence is required to support a conclusion than for statistical sampling.
- B. It considers tolerable deviation rate more effectively than does statistical sampling.
- C. Non-statistical sample results must be projected to the population.
- D. Sampling risk will be accurately quantified through non-statistical sampling.
Answer: C
NEW QUESTION 61
Which of the following statements accurately describes an internal auditor's responsibility with regard to due professional care?
- A. An internal auditor should express an opinion only when consensus with top management has been achieved.
- B. An internal auditor's opinion should be based on factual evidence.
- C. An internal auditor's opinion should be limited to the effectiveness of internal controls.
- D. An internal auditor's opinion should be based on experience and free of all bias.
Answer: B
NEW QUESTION 62
Which of the following is considered a violation of The IIA's Code of Ethics?
- A. An auditor reports a manager's illegal activity to senior management, rather than reporting the incident to the appropriate external authority.
- B. An auditor conveys public information about an organization's financial condition.
- C. An auditor receives allegations of fraud from a whistleblower and immediately reports the allegations to senior management.
- D. An auditor reports material deficiencies, despite the fact that management is already aware of the defects.
Answer: C
NEW QUESTION 63
According to IIA guidance, which of the following is an area in which the internal auditor should be proficient?
- A. Computerized information systems.
- B. Management principles.
- C. Fundamentals of accounting, economics, and finance.
- D. Internal audit standards, procedures, and techniques.
Answer: D
NEW QUESTION 64
While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located. Which of the following principles likely guided the CAE's decision?
- A. Proficiency.
- B. Due professional care.
- C. Objectivity.
- D. Independence.
Answer: B
NEW QUESTION 65
According to The IIA's Code of Ethics, which of the following actions violates the principle of confidentiality?
- A. Providing a friend with the marketing strategic plan, which she will use to prepare her university thesis.
- B. Accepting a consulting request in the IT department without possessing the requisite experience.
- C. Providing personal tax preparation services for a fee for several employees during the lunch hour.
- D. Agreeing to reword an observation to avoid the client complaining directly to the auditor's supervisor.
Answer: A
NEW QUESTION 66
Which of the following activities should the chief audit executive perform to ensure compliance with an organization's code of conduct?
- A. Lead the committee responsible for the oversight of the code.
- B. Implement a system of procedures to inform all employees of the code.
- C. Act as an adviser to the committee responsible for reviewing violations of the code.
- D. Review and adjudicate all violations of the code of conduct.
Answer: C
NEW QUESTION 67
Which of the following would provide the best evidence of errors in the quantities of items received from suppliers?
- A. Warehouse receiving logs.
- B. Suppliers' reports of over shipments.
- C. Purchase requisitions and purchase orders.
- D. Observation and inspection of inventory.
Answer: A
NEW QUESTION 68
An internal auditor makes a series of observations when performing an analytical review of division operations. The auditor notes the following things: the current ratio is increasing and the quick ratio is decreasing, sales and current liabilities have remained constant, and the number of day sales in inventory is increasing. Which conclusion should the auditor draw from this data?
- A. The gross margin has decreased.
- B. The gross margin has increased.
- C. The division produced fewer items this year than in prior years.
- D. Cash or accounts receivable has decreased.
Answer: D
NEW QUESTION 69
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