Jun-2025 Download Free Latest Exam IIA-CRMA Certified Sample Questions
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To qualify for the IIA-CRMA Certification Exam, candidates must meet certain education and experience requirements. They must also complete a rigorous exam that tests their knowledge of risk management principles and practices. IIA-CRMA exam consists of 100 multiple-choice questions and is administered at Pearson VUE testing centers around the world. Candidates who pass the exam receive a certificate of completion and are authorized to use the IIA-CRMA designation after their name.
NEW QUESTION # 28
Which of the following controls is not appropriate for sales in a manufacturing organization?
- A. Goods shipped are matched with valid customer orders.
- B. Customers' orders are recorded promptly.
- C. Sales department approval is required for credit sales transactions.
- D. Goods returned are inspected for damage by the receiving department for proper disposition.
Answer: C
NEW QUESTION # 29
Evidence discovered during the course of an engagement suggests that multiple incidents of fraud have occurred. There do not appear to be sufficient controls in place to prevent reoccurrence. Which of the following is the internal auditor's most appropriate next step?
- A. Immediately notify management of the area under review and the other internal auditors involved in the engagement.
- B. Fully document in the workpapers the evidence that has been discovered and recommend appropriate controls to address the fraud.
- C. Discuss the situation with the engagement supervisor to determine whether fraud investigation experts are required to investigate the matter properly.
- D. Provide the evidence that was discovered to local law enforcement for possible prosecution of the suspected fraud.
Answer: A
NEW QUESTION # 30
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. Projecting the results to the population.
- D. A smaller sample size than if selected using statistical sampling.
Answer: D
NEW QUESTION # 31
An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?
- A. Lower obsolete stock disposal.
- B. Higher operating margin.
- C. Higher inventory turnover.
- D. Lower sales volume.
Answer: D
NEW QUESTION # 32
Which of the following is an example of a detective control?
- A. Safety instructions.
- B. Automatic shut-off valve.
- C. Auto-correct software functionality.
- D. Confirmation with suppliers and vendors.
Answer: D
NEW QUESTION # 33
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. Participating in on-the-job training in various departments of the organization.
- B. Attending annual professional conferences and seminars.
- C. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
- D. Pursuing as many professional certifications as possible.
Answer: C
NEW QUESTION # 34
An internal auditor makes a series of observations when performing an analytical review of division operations. The auditor notes the following things: the current ratio is increasing and the quick ratio is decreasing, sales and current liabilities have remained constant, and the number of day sales in inventory is increasing. Which conclusion should the auditor draw from this data?
- A. The division produced fewer items this year than in prior years.
- B. The gross margin has decreased.
- C. The gross margin has increased.
- D. Cash or accounts receivable has decreased.
Answer: D
NEW QUESTION # 35
While reviewing first quarter sales transactions, an internal auditor discovered that 10 invoices for a new customer had not been posted into the accounts receivable subsidiary ledger. Those 10 invoices were listed in an error report automatically generated by the sales processing system. The system had rejected the invoices because the customer's account number was not found in the customer master file. In this scenario, which of the following controls was lacking?
- A. Preventive control.
- B. Directive control.
- C. Corrective control.
- D. Detective control.
Answer: C
NEW QUESTION # 36
Which two of the following are preventive controls in a check disbursement process?
1. Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-reconciled items.
2. Segregation of the following duties: establishing new vendors, approving checks, and reconciling the bank account.
3. An activity report detailing who accesses the check disbursement system and the nature of any action taken in the system.
4. Evidence of strong access controls ensuring that authorized individuals have access only to the functions related to their responsibilities.
- A. 1 and 3.
- B. 2 and 3.
- C. 1 and 4.
- D. 2 and 4.
Answer: D
NEW QUESTION # 37
Which of the following behaviors could represent a significant ethical risk if exhibited by an organization's board?
- A. Discussing periodic reports of ethical breaches.
- B. Requesting a private meeting with senior management, without the presence of the chief audit executive.
- C. Authorizing an investigation of an unsafe product.
- D. Intervening during an audit involving ethical wrongdoing.
Answer: D
NEW QUESTION # 38
A new chief audit executive (CAE) of a large internal audit activity (IAA) is dissatisfied with the current amount and quality of training being provided to the staff and wishes to implement improvements. According to IIA guidance, which of the following actions would best help the CAE reach this objective?
- A. Assign one experienced manager to better coordinate staff training and development activities.
- B. Require that all staff obtain a minimum of two relevant audit certifications.
- C. Perform a gap analysis of the IAA's existing knowledge, skills and competencies.
- D. Engage a consultant to benchmark the IAA's training program against its peers.
Answer: C
NEW QUESTION # 39
Which of the following audit techniques is used to evaluate control design while also embodying auditing's analytical process?
- A. A risk and control matrix.
- B. A flowchart.
- C. A process narrative.
- D. A walk-through.
Answer: A
NEW QUESTION # 40
Which of the following statements is true regarding assurance services provided to clients outside of the organization?
- A. Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.
- B. The nature of assurance services for outside clients should be defined in the internal audit charter.
- C. The nature of assurance services for outside clients is the same as for internal clients.
- D. Assurance services for outside clients are not covered under the internal audit charter.
Answer: B
NEW QUESTION # 41
While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located. Which of the following principles likely guided the CAE's decision?
- A. Objectivity.
- B. Due professional care.
- C. Independence.
- D. Proficiency.
Answer: B
NEW QUESTION # 42
Which of the following are generally recognized as essential elements of a corporate social responsibility program?
- A. Fair operating practices and government regulation.
- B. Human rights and the environment.
- C. Consumer issues and return on investment.
- D. Organizational governance and financial reporting.
Answer: B
NEW QUESTION # 43
A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?
- A. Control activities.
- B. Commitment.
- C. Information and communication.
- D. Control environment.
Answer: D
NEW QUESTION # 44
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