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IIA-CRMA exam is a rigorous assessment of an individual's knowledge and skills in risk management. It covers a wide range of topics, including risk assessment, risk identification, risk analysis, risk monitoring and control, and risk reporting. IIA-CRMA Exam is intended for professionals who have experience in risk management, internal audit, or related fields.
What are the Prerequisites for the IIA-CRMA Exam?
To take the exam, you must have an active IIA membership and active CIA designation. Your membership must have been verified with your name, membership number, email address, last three digits of your social security number, and confirmation of your date of birth. Eligibility also includes the requirement that the candidate should have equivalent to 5 years of internal audit and/or risk management experience.
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IIA-CRMA (Certification in Risk Management Assurance) Exam is a professional certification exam offered by the Institute of Internal Auditors (IIA). Certification in Risk Management Assurance (CRMA) Exam certification program is designed for individuals who work in risk management, assurance, and internal auditing. The IIA-CRMA Certification is a globally recognized designation that demonstrates the candidate's proficiency in risk management, assurance, and corporate governance. Certification in Risk Management Assurance (CRMA) Exam certification program is ideal for individuals who wish to develop their skills and knowledge in risk management and assurance, and advance their careers in these fields.
IIA Certification in Risk Management Assurance (CRMA) Exam Sample Questions (Q56-Q61):
NEW QUESTION # 56
Which of the following would be the most important consideration by the internal audit activity when selecting employees to perform an internal quality assessment?
- A. Their reporting line within the organization.
- B. The nature of their regular duties and responsibilities.
- C. Their understanding of auditing standards.
- D. Previous experience working with the internal audit activity.
Answer: C
NEW QUESTION # 57
During the course of an audit, an internal auditor discovers that a valuable employee in the research department has been patenting new developments in the employee's name that are unrelated to the basic business of the organization.
The organization does not have a policy addressing this specific issue, but does have a general policy that all important new discoveries by employees are the property of the organization.
Division management views the employee's actions as extra incentive to retain the employee.
A decision to include the employee's action in the engagement final communication would be:
1. A violation of the IIA Code of Ethics.
2. A violation of the reporting requirements in the Standards.
3. Justified and necessary, according to the IIA Code of Ethics and Standards.
- A. 1 and 2 only
- B. 2 only
- C. 1 only
- D. 3 only
Answer: D
NEW QUESTION # 58
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. Assign one experienced manager to better coordinate staff training and development activities.
- B. Perform a gap analysis of the IAA's existing knowledge, skills and competencies.
- C. Require that all staff obtain a minimum of two relevant audit certifications.
- D. Engage a consultant to benchmark the IAA's training program against its peers.
Answer: B
NEW QUESTION # 59
Which of the following is an example of a risk avoidance strategy?
- A. Outsourcing a high-risk activity.
- B. Hedging against exchange rate variations.
- C. Limiting access to an organization's data center.
- D. Selling a nonstrategic business unit.
Answer: D
NEW QUESTION # 60
Which of the following statements is true with regard to conducting an effective quality assurance and improvement program?
- A. The conclusions of periodic internal assessments are intended to assist in achieving conformity to the Standards.
- B. Members of the internal audit activity are not permitted to perform quality assessments, as they would not be independent.
- C. Periodic internal assessments provide the most current and independent recommendations for improvement.
- D. The IIA's Quality Assessment Manual for the Internal Audit Activity must be used as the basis for periodic assessments.
Answer: A
NEW QUESTION # 61
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