IIA-CIA-Part2 Exam Practice Test Instant Access

Question 1

According to IIA guidance which of the following statements is true regarding heat maps?

AA heat map sets likelihood to have higher priority than impact.

BA heat map sets impact to have higher priority than likelihood.

CA heat map recognizes that the priority of impact and likelihood can vary.

DA heat map recognizes impact and likelihood as equally important

Answer : C

Question 2

During follow-up. the internal auditor discovered that operational management did not implement effective actions to address a significant control breach If the issue is left unresolved it may result in regulatory sanctions and damage the organization's reputation What is the most appropriate next step for the chief audit executive to lake?

AReport the matter to the board

BImplement the recommended control to address the exposure

CDiscuss the matter with senior management

DAsk the regulatory agency to persuade management to address the issue

Answer : C

Question 3

Which informal ion- gathering method would be most efficient for an internal auditor to determine whether specified control procedures are in place?

AInterviews

BObservations

CReperformance

DInternal control questionnaires

Answer : D

Question 4

What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?

ATo ensure that the engagement is completed on time and within budget

BTo ensure that all work performed meets acceptable quality standards

CTo ensure that management has provided suitable responses to all observations

DTo ensure that management is satisfied with the progress of the engagement

Answer : A

Question 5

What is the best course of action for a chief audit executive if an internal auditor identifies in the early stage of an audit that some employees have inappropriate access to a key system?

AContact the audit committee chair to discuss the finding

BObtain verbal assurance from management that the inappropriate access will be removed

CIssue an interim audit report so that management can implement action plans

DAsk the auditor to create a ticket with the IT help desk requesting to revoke the inappropriate access

Answer : A

Question 6

The following is a list of major findings in the executive summary report for an audit of the contract management process

- Noncompliance with contract provisions requiring vendors to obtain insurance policies with indemnity value of not less than $1 million

- Compliance with contract obligations and deliverables is not monitored

- No contract agreement with five vendors providing core services

Which of the following is an appropriate conclusion that can be drawn from these findings?

AThese are weaknesses resulting from a lack of a documented contracting policy

BSubstandard service delivery by vendors may not be detected

CManagement should expedite actions to rectify the observations identified

DThe internal controls guiding contract management are not operating effectively

Answer : B

Question 7

Which of the following internal control attributes should internal auditors consider testing during a review of the board of directors?

AThe presence of an independent critical mass

BThe established philosophy and operating style of senior management

CThe articulated internal control objectives of the organization

DThe organization's employee recruiting and retention policies

Answer : C

IIA-CIA-Part2 Certified Internal Auditor Exam Practice Test