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IIA IIA-CRMA-ADV Practice Test Questions Answers

Exam Code: IIA-CRMA-ADV (Updated 283 Q&As)
Exam Name: Certification in Risk Management Assurance
Last Update: 29-Aug-2025
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    IIA-CRMA-ADV Questions and Answers

    Question # 1

    Which of the following would not be a red flag for fraud?

    A.

    Several recent, large expenditures to a new vendor have not been documented.

    B.

    A manager has bragged about multiple extravagant vacations taken within the last year, which are excessive relative to the manager's salary.

    C.

    A weak control environment has been accepted by management to encourage creativity.

    D.

    New employees occasionally fail to meet established project deadlines due to staffing shortages.

    Question # 2

    While reviewing the workpapers of a new auditor, the auditor in charge discovered that additional audit procedures might be necessary. According to IIA guidance, which of the following would be most relevant for the auditor in charge to consider when making this decision?

    A.

    Resource management.

    B.

    Coordination.

    C.

    Due professional care.

    D.

    Engagement supervision.

    Question # 3

    According to IIA guidance, which of the following statements regarding the internal audit charter is true?

    A.

    Senior management should approve the charter before it is submitted to the board.

    B.

    The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards.

    C.

    The charter should define the consulting services that the internal audit activity is permitted to perform.

    D.

    The CEO periodically should assess whether the terms of the charter continue to be adequate.

    Question # 4

    Which of the following would provide the best guidance to a chief audit executive who is setting internal audit staff requirements?

    A.

    A review of audit staff education and training records.

    B.

    Information about the audit staff size and composition of comparable organizations.

    C.

    Results from discussions of audit needs with executive management and the audit committee.

    D.

    The results of the audit staff's most recent performance reviews.

    Question # 5

    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.

    Cash or accounts receivable has decreased.

    B.

    The gross margin has decreased.

    C.

    The division produced fewer items this year than in prior years.

    D.

    The gross margin has increased.

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