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IIA-CRMA Exam Dumps - Certification in Risk Management Assurance (CRMA) Exam

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Question # 25

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.

Attending annual professional conferences and seminars.

B.

Participating in on-the-job training in various departments of the organization.

C.

Pursuing as many professional certifications as possible.

D.

Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.

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Question # 26

Which of the following is an example of a management control technique?

A.

A budget.

B.

A risk assessment.

C.

The board of directors.

D.

The control environment.

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Question # 27

Which of the following is not a standard technique that the chief audit executive (CAE) would use to provide evidence of supervisory review of working papers?

A.

The CAE initials and dates every working paper after it has been reviewed.

B.

The CAE completes an engagement working paper checklist.

C.

The CAE prepares a memorandum discussing the results of the working paper review.

D.

The CAE utilizes an external third party to make an objective recommendation after each working paper review.

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Question # 28

While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization.

Which of the following actions are most appropriate for the auditor to take?

A.

Consult with an immediate supervisor and notify the organization's audit committee.

B.

Consult with an immediate supervisor and review the organization's ethics policy.

C.

Give the prize to a friend or family member and notitfy the organization's audit committee.

D.

Give the prize to a friend or family member and review the organization's ethics policy.

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Question # 29

Which of the following is an example of a transaction-level control?

A.

Human resource policies.

B.

Tone at the top.

C.

Reconciliations of primary accounts.

D.

Inventory counts.

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Question # 30

According to IIA guidance, which of the following objectives of an assurance engagement for the organization's risk management process is valid?

A.

All risks have been identified and mitigated.

B.

Risks have been accurately analyzed and evaluated.

C.

All controls are both adequate and efficient.

D.

The board is appropriately addressing intolerable risks.

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Question # 31

Which type of objectives can best be described as broad goals that promote the effective and efficient use of resources?

A.

Strategic objectives.

B.

Operational objectives.

C.

Reporting objectives.

D.

Compliance objectives.

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Question # 32

While auditing an organization's credit approval process, an internal auditor learns that the organization has made a large loan to another auditor's relative. Which course of action should the auditor take?

A.

Proceed with the audit engagement, but do not include the relative's information.

B.

Have the chief audit executive and management determine whether the auditor should continue with the audit engagement.

C.

Disclose in the engagement final communication that the relative is a customer.

D.

Immediately withdraw from the audit engagement.

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