IIA IIA-CRMA Questions & Answers

Full Version: 138 Q&A

Latest IIA-CRMA Exam Questions and Practice Tests 2025 - Killexams.com

IIA-CRMA Braindumps

IIA-CRMA Real Questions IIA-CRMA Practice Test

IIA-CRMA Actual Questions

IIA

IIA-CRMA

Certification in Risk Management Assurance (CRMA)

https://killexams.com/pass4sure/exam-detail/IIA-CRMA

Why are preventative controls generally preferred to detective controls?

A . Because preventive controls promote doing the right thing in the first place, and lessen the need for corrective action.

B . Because preventive controls are more sensitive and identify more exceptions than detective controls.

C . Because preventive controls include output procedures, which cover the full range of possible reviews, reconciliations and analysis.

D . Because preventive controls identify exceptions after-the-fact, allowing them to be used after the entire review is complete and therefore finding exceptions that detective controls may have missed.

Answer: A

A chief audit executive (CAE) learns that the brother-in-law of a senior auditor who audits the procurement process was hired as the head of the procurement department six months prior.

Which of the following is the most appropriate action for the CAE to take?

A . The CAE should not interfere because there is no evidence that a conflict of interest has occurred. B . The CAE should remind the senior auditor of his obligation to be objective and impartial.

C . The CAE should change the senior auditor’s assignment and take corrective action for the auditor’s failure to disclose the conflict of interest.

D . The CAE should require the senior auditor to disclose the relationship in writing before continuing his responsibility for monitoring procurement.

Answer: C

While reviewing the workpapers of a new auditor, the auditor in charge discovered that additional audit procedures might be necessary.

According to IIA guidance, which of the following would be most relevant for the auditor in charge to consider when making this decision?

A . Resource management. B . Coordination.

C . Due professional care.

D . Engagement supervision.

Answer: C

A manufacturing organization discovers that the waste water released has failed to meet permitted limits. Which control function will be least effective in correcting the issue?

A . Performing a chemical analysis of the water, prior to discharge, for components specified in the permit.

B . Posting signs that tell employees which substances may be disposed of via sinks and floor drains within the facility.

C . Diluting pollutants by flushing sinks and floor drains daily with large volumes of clean water. D . Establishing a preventive maintenance program for the pretreatment system.

Answer: C

According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?

A . Three months. B . Six months.

C . One year. D . Two years.

Answer: C

According to IIA guidance, which of the following statements regarding the internal audit charter is true? A . Senior management should approve the charter before it is submitted to the board.

B . The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards. C . The charter should define the consulting services that the internal audit activity is permitted to perform.

D . The CEO periodically should assess whether the terms of the charter continue to be adequate.

Answer: A

A new chief audit executive (CAE) of a large internal audit activity (IAA) is dissatisfied with the current amount and quality of training being provided to the staff and wishes to implement improvements.

According to IIA guidance, which of the following actions would best help the CAE reach this objective? A . Require that all staff obtain a minimum of two relevant audit certifications.

B . Perform a gap analysis of the IAA’s existing knowledge, skills and competencies. C . Engage a consultant to benchmark the IAA’s training program against its peers.

D . Assign one experienced manager to better coordinate staff training and development activities.

Answer: B

An internal audit activity (IAA) provided assurance services for an activity it was responsible for during the preceding year.

As a result, which IIA Code of Ethics principle is presumed to be impaired? A . Competence.

B . Flexibility. C . Objectivity.

D . Independence.

Answer: C

The internal audit supervisor is reviewing the workpapers prepared by the staff.

According to the Standards, which of the following statements regarding workpaper supervision is not true? A . Review notes of questions that arise during the review process must be retained.

B . Dating and initialing each workpaper provides evidence of review. C . Workpaper review allows for staff training and development.

D . Workpapers may be amended during the review process.

Answer: A

A government agency’s policy states that board members’ travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?

A . The government’s independent auditor.

B . The external auditors from an accounting firm. C . The internal audit activity.

D . The agency’s chief compliance officer.

Answer: A

The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the

regulatory compliance function. The audit committee requests an assessment of regulatory compliance.

According to IIA guidance, which of the following is the CAE’s best course of action?

A . Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.

B . Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.

C . Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.

D . Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.

Answer: D

Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework? A . Governance, risk, and control.

B . Performance management. C . Business acumen.

D . Internal audit delivery.

Answer: B

According to IIA guidance, which of the following objectives of an assurance engagement for the organization’s risk management process is valid?

A . All risks have been identified and mitigated.

B . Risks have been accurately analyzed and evaluated. C . All controls are both adequate and efficient.

D . The board is appropriately addressing intolerable risks.

Answer: B

Which of the following is the most effective strategy to manage the risk of foreign exchange losses due to sales to foreign customers?

A . Hire a risk consultant.

B . Implement a hedging strategy.

C . Maintain a large foreign currency balance.

D . Insist that customers only pay in a stable currency.

Answer: B

User: Oliver*****

Killexams.com is an excellent resource for anyone looking to prepare for the iia-crma exam. Their practice tests cover all aspects of the exam, making it a must-have for newcomers to the field. Personally, I needed to improve my knowledge of iia-crma, and the Killexams.com practice tests helped me immensely. Thanks to their assistance, I passed the iia-crma exam with an impressive score and have been recommending it to my friends and colleagues.

User: Edward*****

Choosing excellent exam practice tests for IIA-CRMA certification is a complicated task, but killexams.com provided me with the necessary assistance to pass the exam with ease. I had little faith in myself and never thought I would be able to get into my preferred college. However, their material helped me become fully organized, and I passed the test with their assistance. Thank you, killexams.com!

User: Ayden*****

Despite my background and experience in IT, I found the iia-crma exam to be more difficult than expected. Killexams.com saved me time and money, and without their questions and answers, I would have failed the exam. I got confused on a few questions and had to guess, but that was my fault for not memorizing the material better. I am glad that I passed the iia-crma exam and grateful for Killexams.com help.

User: Stepan*****

Passing the iia-crma exam was made easy with the brief and easy language used in the materials, without the need to memorize. With killexams.com brain dump practice tests as my guide, I was able to finish my training in just three weeks and passed the exam with 88% marks. The smooth guide was exactly what I needed as complex language made me sleepy, and the long content of the books was a hassle. Thank you, killexams.com, for making my day.

User: Florencia*****

Killexams.com is a reliable indicator of a students or customer capability to pass the iia-crma exam. Their exams offer a thorough assessment of the candidates ability and skills, making it an accurate indication of their ability. I am getting my certification in Test iia-crma with the help of Killexams.com. Their cutting-edge module of questions and related topics has allowed me to attempt all 38 questions in the given timeframe, achieving a score of over 87%. I could not have done it without Killexams.com.

Features of iPass4sure IIA-CRMA Exam

Files: PDF / Test Engine
Premium Access
Online Test Engine
Instant download Access
Comprehensive Q&A
Success Rate
Real Questions
Updated Regularly
Portable Files
Unlimited Download
100% Secured
Confidentiality: 100%
Success Guarantee: 100%
Any Hidden Cost: $0.00
Auto Recharge: No
Updates Intimation: by Email
Technical Support: Free
PDF Compatibility: Windows, Android, iOS, Linux
Test Engine Compatibility: Mac / Windows / Android / iOS / Linux

Premium PDF with 138 Q&A

Get Full Version

All IIA Exams

IIA Exams

Certification and Entry Test Exams

Complete exam list