Free Practice IIA IIA-CRMA-ADV Exam Questions 2025

Stay ahead with 100% Free Certification in Risk Management Assurance IIA-CRMA-ADV Dumps Practice Questions

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Total 283 Questions | Updated On: Apr 21, 2025

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Question 1

Which segregation of duties would best reduce the risk of payroll fraud?

A : Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.

B : Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.

C : Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.

D : Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.

Answer: A

Question 2

An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IAA. Which of the following also should be included in the charter?

A : The purpose of the IAA.

B : The IAA's right to have unrestricted access to functions, records, personnel, and physical property.

C : A detailed audit plan or program for the year.

D : The job specifications and descriptions of the internal audit staff.

Answer: B

Question 3

Which of the following best demonstrates the authority of the internal audit activity?

A : Suggesting alternatives to decision makers.

B : Improving the integrity of information.

C : Determining the scope of internal audit services.

D : Achieving engagement objectives.

Answer: C

Question 4

Which of the following actions would be characterized as a preventive control to safeguard inventory from the risk of theft?

1. Locking doors and physically securing inventory items.

2. Independently observing the receipt of materials.

3. Conducting monthly inventory counts.

4. Requiring the use of employee ID badges at all times.

A : 1 and 3.

B : 1 and 4.

C : 2 and 3.

D : 2 and 4.

Answer: B

Question 5

Non-statistical sampling does not require which of the following?

A : The sample to be representative of the population.

B : The sample to be selected haphazardly.

C : A smaller sample size than if selected using statistical sampling.

D : Projecting the results to the population.

Answer: C

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Total 283 Questions | Updated On: Apr 21, 2025

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