IIA-CRMA Exam Questions Instant Access - No Installation Required

Question 1

Which of the following would be considered a preventive control?

AA library control log.

BA review of exception reports.

CA password lock on a server.

DA software scan of financial records for irregularities.

Answer : C

Question 2

Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period.

Which of the following represents the organization's residual risk for online customer payments due?

A$11, 250

B$25, 000

C$33, 750

D$45, 000

Answer : A

Question 3

An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IAA. Which of the following also should be included in the charter?

AThe purpose of the IAA.

BThe IAA's right to have unrestricted access to functions, records, personnel, and physical property.

CA detailed audit plan or program for the year.

DThe job specifications and descriptions of the internal audit staff.

Answer : B

Question 4

A credit card company detects potential errors in credit card numbers by checking whether all entered numbers contain the correct amount of digits. This is an example of which of the following IT controls?

ALogic test.

BCheck digits.

CData integrity tests.

DBalancing control activities.

Answer : A

Question 5

Which of the following behaviors could represent a significant ethical risk if exhibited by an organization's board?

ARequesting a private meeting with senior management, without the presence of the chief audit executive.

BIntervening during an audit involving ethical wrongdoing.

CDiscussing periodic reports of ethical breaches.

DAuthorizing an investigation of an unsafe product.

Answer : B

Question 6

Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?

AAdequate signs are in place to assist in locating safety equipment.

BServers are secured individually to their racks by locks.

CFoam fire extinguishers are operable to protect against electrical fires.

DSwipe card access is required to gain access to the server room.

Answer : A

Question 7

According to IIA guidance, which of the following statements is true regarding the reporting of results from an external quality assessment of the internal audit activity?

AThe external assessment results are reported upon completion in confidence directly to the board, and senior management is advised only of the recommendations and improvement action plans.

BThe results of self-assessments with independent external validation are shared with the board upon completion, and monitoring of recommended improvements must be reported monthly.

CThe external assessment results are communicated upon completion to senior management and the board, but action plans for recommended improvements do not have to be reported.

DThe requirements for reporting quality assessment results are the same for external assessments and self-assessments with independent external validation.

Answer : B

IIA Certification in Risk Management Assurance (CRMA) IIA-CRMA Exam Questions