IIA-CRMA Exam Learning - IIA-CRMA Exam Demo

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| Section | Objectives |
|---|
| Foundations of Risk Management | - Risk governance structures - Enterprise risk management (ERM) principles
|
| Risk Response and Monitoring | - Risk response strategies - Monitoring and reporting of risk management effectiveness
|
| Risk Identification and Assessment | - Risk assessment methodologies - Risk prioritization and evaluation techniques
|
| Role of Internal Audit in Risk Management | - Assurance and consulting roles - Three lines model and internal audit positioning
|
| Organizational Risk Governance and Communication | - Risk reporting to board and management - Risk culture and communication frameworks
|
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IIA Certification in Risk Management Assurance (CRMA) Exam Sample Questions (Q31-Q36):
NEW QUESTION # 31
Which of the following is an example of a directive control?
- A. Automated reconciliations.
- B. Segregation of duties.
- C. Incentive compensation plans.
- D. Exception reports.
Answer: C
NEW QUESTION # 32
An organization is facing a financial downturn and needs to impose major budget reductions to all departments. According to MA guidance, which of the following actions is most appropriate for the board to take to evaluate the potential impact on the internal audit activity?
- A. Ask The human resources department to determine how the annual compensation and salary of the audit staff could be adjusted to achieve savings.
- B. Ask the chief audit executive to determine whether budgetary limitations impede the ability of the internal audit activity to execute its responsibilities.
- C. Ask management to determine which internal audit engagements are lower risk and could be considered for removal from the annual audit plan.
- D. Ask appropriate stakeholders for their opinion on the potential impacts of reducing the scope of the internal audit plan.
Answer: B
NEW QUESTION # 33
Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?
- A. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
- B. Participating in on-the-job training in various departments of the organization.
- C. Attending annual professional conferences and seminars.
- D. Pursuing as many professional certifications as possible.
Answer: A
NEW QUESTION # 34
An auditor identifies three errors in the sample of 25 entries selected for review (a 12 percent error rate).
Based on this result, the auditor assumes that approximately 59 of the total population of 492 entries are incorrect. To reach this assumption, the auditor has used a technique known as which of the following?
- A. Variability tolerance.
- B. Ratio estimation.
- C. Stratification.
- D. Acceptance sampling.
Answer: B
NEW QUESTION # 35
A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?
- A. Information and communication.
- B. Commitment.
- C. Control activities.
- D. Control environment.
Answer: D
NEW QUESTION # 36
......
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