IIA-CRMA Exam Practice Test Instant Access

Question 1

Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

APlanning an engagement of the area in which fraud is suspected.

BEmploying audit tests to detect fraud.

CInterrogating a suspected fraudster.

DCompleting a process review to improve controls to prevent fraud.

Answer : B

Question 2

An internal auditor for a large retail chain suspects that a store manager has been stealing money from cash sales by listing the sales as accounts receivable and then writing off the accounts as bad debts. Which of the following irregularities is the most likely cause of the auditor's suspicion?

AA much higher bad debt expense as a percentage of sales than that of previous years.

BA much higher bad debt expense as a percentage of sales than that of other stores.

CA much higher percentage of past-due accounts receivable than that of other stores.

DA much higher percentage of past-due accounts receivable than that of previous years.

Answer : B

Question 3

Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework?

AGovernance, risk, and control.

BPerformance management.

CBusiness acumen.

DInternal audit delivery.

Answer : B

Question 4

Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?

AAttending annual professional conferences and seminars.

BParticipating in on-the-job training in various departments of the organization.

CPursuing as many professional certifications as possible.

DMaintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.

Answer : D

Question 5

According to the IIA guidance, who is responsible for periodically assessing the internal audit activity?

AThe board.

BThe chief audit executive.

CSenior management.

DThe external auditors.

Answer : B

Question 6

During an engagement, an internal auditor decided to use variance analysis as an auditing techniques. Which of the following steps should the auditor pursue if he discovers unexpected deviations of actual results from budget?

AReport the deviations immediately to the audit committee.

BGather additional information to determine the cause of the deviations.

CConclude that the budget was unreasonably set and accept the deviations.

DPerform alternative forms of analytical procedures which provide no deviations.

Answer : B

Question 7

Which type of objectives can best be described as broad goals that promote the effective and efficient use of resources?

AStrategic objectives.

BOperational objectives.

CReporting objectives.

DCompliance objectives.

Answer : B

IIA-CRMA Certification in Risk Management Assurance (CRMA) Exam Practice Test