IIA-CRMA Exam Practice Test Instant Access

Question 1

As a matter of policy, the chief audit executive routinely rotates internal audit staff assignments and periodically interviews the staff to discuss the potential for conflicts of interest. These actions help fulfill which of the following internal audit mandates?

AOrganizational independence.

BProfessional objectivity.

CDue professional care.

DIndividual proficiency.

Answer : B

Question 2

Which of the following would be considered a violation of The IIA's mandatory guidance on independence?

AThe chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer.

BThe board seeks senior management's recommendation before approving the annual salary adjustment of the CAE.

CThe CAE confirms to the board, at least once every five years, the organizational independence of the internal audit activity.

DThe CAE updates the internal audit charter and presents it to the board for approval periodically, not on a specific timeline.

Answer : B

Question 3

Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?

AManage and support a quality assurance and improvement program.

BMaintain industry-specific knowledge appropriate to the audit engagements

CSet clear performance standards for internal auditors and the internal audit activity.

DApply problem-solving techniques for routine situations.

Answer : C

Question 4

Which of the following is considered a violation of The IIA's Code of Ethics?

AAn auditor conveys public information about an organization's financial condition.

BAn auditor reports a manager's illegal activity to senior management, rather than reporting the incident to the appropriate external authority.

CAn auditor receives allegations of fraud from a whistleblower and immediately reports the allegations to senior management.

DAn auditor reports material deficiencies, despite the fact that management is already aware of the defects.

Answer : C

Question 5

Which of the following are generally recognized as essential elements of a corporate social responsibility program?

AHuman rights and the environment.

BOrganizational governance and financial reporting.

CFair operating practices and government regulation.

DConsumer issues and return on investment.

Answer : A

Question 6

Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?

AWorkshops.

BSurveys.

CInterviews.

DObservation.

Answer : B

Question 7

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?

AResidual.

BNet.

CInherent.

DAccepted.

Answer : C

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