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IIA-CRMA Actual Questions – Instant Download 285 Questions

IIA-CRMA certification exam covers topics such as risk assessment, risk management processes, risk culture, information security, fraud prevention, and corporate governance. IIA-CRMA exam is designed to test an individual’s ability to identify and assess risks, develop effective risk management strategies, and provide assurance that the organization’s risk management processes are effective. By obtaining this certification, professionals can demonstrate their expertise in risk management assurance and enhance their career opportunities.

NEW QUESTION 74
Which of the following best describes the assessment of risks?

Assess the actions necessary to reduce the likelihood and/or impact of risk to tolerable levels.

Assess the likelihood and/or impact of risk on the achievement of organizational objectives.

Assess the amount of risk an organization can accept while pursuing its objectives.

Assess alternative strategies to reduce or eliminate major risks.

NEW QUESTION 75
According to IIA guidance, which of the following practices by the chief audit executive (CAE) best enhances the organizational independence of the internal audit activity?

CAE meets privately with The CEO at least annually.

CAE reports to the board regarding audit staff performance evaluation and compensation.

CAE meets privately with The board at least annually.

CAE reviews and approves the annual audit plan.

NEW QUESTION 76
A computer system automatically locks a user’s account after three unsuccessful attempts to log on.
Which type of control does this scenario represent?

Corrective control.

Preventive control.

Detective control.

Compensating control.

NEW QUESTION 77
Click the Exhibit.

Internal auditors are asked to keep track of how many hours per day they spend planning the audit, conducting the engagement, and writing the audit report. The data for two days has been collected as follows:
Day 1
Day 2
Planning the audit
2 hours
3 hours
Conducting the engagement
1 hour
1 hour
Writing the audit report
2 hours
4 hours
Which of the following graphs depicts the data accurately?

Graph A only

Graph B only

Both A and B.

Neither A nor B.

NEW QUESTION 78
Which of the following does not need to be defined in the internal audit charter?

The audit engagements to be performed during the upcoming year.

The internal audit activity’s position within the organization.

The scope of internal audit activities.

Management and the board of directors’ agreement regarding the roles and responsibilities of the internal audit activity.

NEW QUESTION 79
Which of the following would be considered a preventive control?

A library control log.

A review of exception reports.

A password lock on a server.

A software scan of financial records for irregularities.

NEW QUESTION 80
Which of the following conditions is the most likely indicator of fraud?

Commissions are paid based on verified increases to sales.

Departmental reports are consistently issued in an untimely manner.

A manager regularly assumes subordinates’ duties.

Lower earnings occur during the industry’s down cycle.

NEW QUESTION 81
According to IIA guidance, which of the following best describes internal auditors’ responsibility regarding fraud?

Internal auditors should take a leading role in investigating all fraud-related cases.

Internal auditors must have sufficient knowledge to evaluate the risk of fraud.

Internal auditors should report all fraud cases to law enforcement agents, in accordance with the Code of Ethics.

Internal auditors are responsible for ensuring that fraud does not occur.

NEW QUESTION 82
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?

Residual.

Net.

Inherent.

Accepted.

NEW QUESTION 83
Which of the following statements best explains why internal auditors map processes?
1. To obtain audit evidence to support auditor’s observations.
2. To determine scope and objectives of the audit.
3. To facilitate the identification of ownership and responsibility for key risks.
4. To identify potential efficiency improvements.

1 and 2.

1 and 3.

2 and 4.

3 and 4.

NEW QUESTION 84
Which of the following control activities is the most effective to ensure users’ levels of access are appropriate for their current roles?

The human resources department generates a monthly list of terminated and transferred employees and requests IT to update the user access as required.

Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.

System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.

Department managers are required to perform periodic user access reviews of relevant systems and applications.

NEW QUESTION 85
Which of the following is most likely to function as a directive control?

Security dogs.

Alert employees.

Insurance claims.

Cycle counts.

NEW QUESTION 86
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?

The scope of store operations audits should exclude compliance.

Store operations audits can be fully executed with appropriate disclosure to the board.

Store operations audits should be performed by an external service provider.

A store operations compliance audit should be performed by a staff internal auditor under the direction of the CAE.

NEW QUESTION 87
According to The IIA’s Code of Ethics, which of the following statements is true?

When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.

When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.

When an internal auditor disagrees with the treatment received by workers in the organization’s foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.

When an internal auditor continues with an audit engagement, despite the audit client’s claims that the work performed is unnecessary and redundant he fails to demonstrate competency.

NEW QUESTION 88
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?

Report the deviations immediately to the audit committee.

Gather additional information to determine the cause of the deviations.

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

Perform alternative forms of analytical procedures which provide no deviations.

NEW QUESTION 89
During an account receivables audit, an internal auditor found a significant number of input errors resulting in a $500, 000 balance understatement.
Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?

Who?

How?

Why?

When?

Loading …

The CRMA certification exam is designed to assess the knowledge and skills of professionals in risk management assurance. IIA-CRMA exam is a computer-based test that is administered at Pearson VUE testing centers worldwide. IIA-CRMA exam consists of 100 multiple-choice questions and candidates have two hours and thirty minutes to complete it. IIA-CRMA exam covers four domains: governance, risk management, assurance, and consulting.

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