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IIA Certification in Risk Management Assurance Sample Questions:
1. Which type of objectives can best be described as broad goals that promote the effective and efficient use of resources?
A) Strategic objectives.
B) Reporting objectives.
C) Operational objectives.
D) Compliance objectives.
2. According to IIA guidance, which of the following individuals would best be considered independent for the purpose of participating in an external assessment of the quality assurance and improvement program for an internal audit activity (IAA)?
A) A former employee knowledgeable of the IAA who resigned three years earlier from the organization.
B) An employee in the parent organization who has not had any previous contact with the IAA.
C) A competent employee of an independent external organization that provides co-sourcing services to the IAA.
D) An employee in an affiliated organization who has never worked directly with the IAA.
3. According to the COSO internal control framework, which of the following best describes the use of continuous auditing programs by the internal audit activity?
A) Control environment.
B) Risk assessment.
C) Control activities.
D) Monitoring.
4. To fill a critical vacancy, an internal auditor is assigned temporarily to a nonaudit role in the purchasing department, where she worked previously before joining the internal audit activity. According to IIA guidance, which of the following statements is true regarding these circumstances?
A) Any work performed by the auditor during her temporary assignment must conform to the internal audit charter.
B) The CAE may conduct audits in the purchasing department during the auditor's temporary assignment.
C) The auditor should obtain the CAE's approval as to the nature and scope of the duties she is permitted to perform during her temporary assignment.
D) The chief audit executive (CAE) should review all work performed by the auditor during her temporary assignment to ensure no impairments.
5. Which of the following would be considered a violation of The IIA's mandatory guidance on independence?
A) The board seeks senior management's recommendation before approving the annual salary adjustment of the CAE.
B) The CAE updates the internal audit charter and presents it to the board for approval periodically, not on a specific timeline.
C) The CAE confirms to the board, at least once every five years, the organizational independence of the internal audit activity.
D) The chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: A |
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