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

According to the HA Code of Ethics, which of the following statements best describes the principle of competency?

• Internal auditors shall perform their work with honesty, diligence, and responsibility.
• Internal auditors shall perform their work in accordance with the Standards.
• Internal auditors shall perform their work in accordance with the law and make disclosures expected by the law.
• Internal auditors shall be prudent in the use of information acquired while performing their work.

The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the internal auditor was assigned to an assurance engagement?

• The assigned internal auditor must determine the objectives, scope, and techniques of the engagement.
• The CAE must personally obtain the needed skills, knowledge, or other competencies if the internal auditor does not have them.
• The assigned internal auditor must not assume management responsibilities while performing the engagement.
• The assigned internal auditor must maintain objectivity while performing the engagement.

Which of the following would be considered a preventive control?

• A library control log.
• A review of exception reports.
• A password lock on a server.
• A software scan of financial records for irregularities.

According to IIA guidance, which of the following should be formally documented in the internal audit charter?

• The internal audit activity's responsibility for imposing risk management processes.
• The internal audit activity's responsibility for the organization's governance framework.
• The nature of consulting services provided by the internal audit activity.
• The budgeting process for the internal audit activity.

According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?

• The services must be aligned with those defined in the internal audit charter.
• The services must not be performed by the same internal auditor who performed assurance services, in order to maintain objectivity.
• The services may preclude assurance services from the consulting engagement.
• The services impose no responsibility to communicate information other than to the engagement client.

Which of the following techniques would provide the most compelling evidence that a safety hazard exists within a manufacturing facility?

• Observation of the facility during operations.
• Questioning of facility management, including the facility safety officer.
• Analysis of facility operating reports, focusing on instances when breakdowns occurred.
• Review of records involving safety violations, filed by facility production employees.

A fraud investigation was completed by management, and a proven fraud was communicated to relevant authorities. According to MA guidance, which of the following roles would be most appropriate for the internal audit activity to undertake after the investigation?

• Plan employee sessions and team building strategies for the organization to improve awareness of fraud among employees.
• Review the investigation and implement any improvements to the process.
• Conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed.
• Determine why The fraud was not detected earlier and design controls to strengthen early detection.

Which of the following documents is most appropriate in promoting the objectivity of the internal audit activity?

• Usage of IT system policy.
• Risk management framework.
• Acceptance of gifts policy.
• Personal responsibility policy.

Which of the following are components of the COSO enterprise risk management framework?1. Objective setting.2. External environment.3. Data collection.4. Control activities.

• 1 and 3 only
• 1 and 4 only
• 2 and 3 only
• 2 and 4 only

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?

• The government's independent auditor.
• The external auditors from an accounting firm.
• The internal audit activity.
• The agency's chief compliance officer.