Latest Updated IIA-CRMA Dumps Questions Answers For IIA Exam
                     IIA IIA-CRMA Dumps PDF
 C  e  r t i f i c a  t i o n    in    R  isk Management Assurance (CRMA)
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IIA - IIA-CRMA
Topic 1, Exam Pool A
Question #:1 - (Exam Topic 1)
Which the following activities should be performed by the internal audit activity to facilitate an effective
relationship with the audit committee?
1. Periodically report about the accounting standards followed by the organization.
2. Provide assurance to the audit committee that its charter, activities, and processes are appropriate.
3. Ensure that the role and activities of the internal audit activity are clearly understood and responsive to the
needs of the audit committee.
4. Maintain open and effective communications with the audit committee.
A.  1 and 2 only
B.  3 and 4 only
C.  1, 3, and 4 only
D.  2, 3, and 4 only
Answer: D
Question #:2 - (Exam Topic 1)
Which of the following best ensures an internal audit activity has the ability to render impartial and unbiased
assessments?
A.  Organizational status and objectivity.
B.  Supervision of the chief audit executive (CAE) by senior management.
C.  Organizational knowledge and skills.
D.  CAE certification.
Answer: A
Question #:3 - (Exam Topic 1)
Which of the following actions indicates a lack of due professional care by an internal auditor performing an
audit of a store's cash function?
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A.  The audit report included a well-supported recommendation for a reduction in staff even though such a
reduction might adversely impact morale.
B.  The auditor tested samples of transactions to test the cash function's process flows.
C.  After determining that the cash function internal controls were strong, the audit report assured senior
management that fraud was not present.
D.  The auditor discovered an instance of potential fraud and reported it immediately to management, but
did not alert authorities outside the organization.
Answer: C
Question #:4 - (Exam Topic 1)
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?
A.  Report the deviations immediately to the audit committee.
B.  Gather additional information to determine the cause of the deviations.
C.  Conclude that the budget was unreasonably set and accept the deviations.
D.  Perform alternative forms of analytical procedures which provide no deviations.
Answer: B
Question #:5 - (Exam Topic 1)
According to IIA guidance, which of the following statements is false regarding continuing professional
education for the internal audit activity (IAA)?
A.  Continuing professional education can be obtained through IAA involvement in research projects.
B.  Employers are responsible for ensuring that the continuing professional education needs of the IAA are
met.
C.  Completion of self-study courses fulfills IAA continuing professional education requirements.
D.  Specialized education that meets unique organizational needs cannot qualify as IAA professional
development.
Answer: B
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Topic 2, Exam Pool B
Question #:6 - (Exam Topic 2)
Sometimes, internal audit staff may partner with operating managers to rank risks. Which of the following
outcomes may be the most beneficial aspects of this strategy?
1. Reappraising risks levels.
2. Providing accurate information to management.
3. Marketing the internal audit activity.
4. Planning safeguards for assets in high-risk areas.
A.  1 and 2.
B.  1 and 3.
C.  2 and 3.
D.  3 and 4.
Answer: B
Question #:7 - (Exam Topic 2)
According to the COSO enterprise risk management (ERM) framework, which of the following is not part of
the new paradigm in ERM?
A.  Assessing the risk factors.
B.  Aligning risk appetite and strategy.
C.  Enhancing risk response decisions.
D.  Reducing operational surprises and losses.
Answer: A
Question #:8 - (Exam Topic 2)
According to IIA guidance, which of the following statements is true regarding periodic internal assessments
of the internal audit activity?
A.  
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A.  Internal assessments are conducted to benchmark the internal audit activity's performance against
industry best practices.
B.  Internal assessments must be performed at least once every five years by a qualified assessor.
C.  An internal auditor may perform a peer review of a colleague's workpapers, as long as the auditor wasn't
involved in the audit under review.
D.  Follow-up to ensure appropriate improvements are implemented is a recommended, but not mandatory,
element of internal assessments.
Answer: C
Question #:9 - (Exam Topic 2)
What is the additional advantage of facilitated workshops, in comparison with structured interviews, used
when testing the effectiveness of entity-level controls?
A.  During facilitated workshops, people more openly say things to internal auditors than during private
interviews.
B.  Internal auditors do not need other sources of information, as the data gathered during facilitated
workshops is sufficient.
C.  Facilitated workshops create a synergy of discussion that can bring multiple perspectives to the same
issue.
D.  The testimonial evidence obtained during facilitated workshops is generally considered more reliable.
Answer: C
Question #:10 - (Exam Topic 2)
An internal auditor is reviewing the accounts receivable when she discovers account balances more than three
years old. The auditor was previously supervising the area during this time, and she subsequently advises the
chief audit executive (CAE) of a potential conflict.
Which of the following is the most appropriate course of action for the CAE to take?
A.  Replace the auditor with another audit staff member.
B.  Continue with the present auditor, as more than one year has passed.
C.  Withdraw the audit team and outsource the financial audit of the division.
D.  Work with the division's management to resolve the situation.
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Answer: A
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