Free Access IIA.IIA-CIA-Part1.v2023-02-14.q152 Practice Test (Page 14)

Question 61

Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?

A.Observation.

B.Interviews.

C.Workshops.

D.Surveys.

Question 62

Of all the common characteristics of frauds, which of the following can the organization influence the most?

A.Rationalization

B.Opportunity

C.Commitment.

D.Pressure or incentive.

Question 63

A manufacturer of power tools is experiencing regular fluctuations in the price of electrical power which is having a serious impact on the bottom line. Which of the following would be the most effective risk strategy to reduce the impact of these fluctuations?

A.Review the current process to identify opportunities to reduce power usage.

B.Use an average cost for power to smooth the bottom line.

C.Use a forward contract for bulk power purchases

D.Analyze the amount of power used to produce each power tool.

Question 64

Which of the following statements represents the most appropriate correlation between an organization's risk maturity and the internal audit activity's consulting role in risk management processes?

A.When an organization has a low level of risk maturity, the internal audit activity is less likely to provide consulting services related to risk management

B.There is typically no correlation between an organization's risk maturity and the extent to which the internal audit activity's consulting role in risk management processes

C.When an organization has a high level of risk maturity the internal audit activity is less likely to provide consulting services related to risk management

D.When an organization has a high level of risk maturity the internal audit activity is more likely to provide consulting services related to risk management

Question 65

According to IIA guidance, which of the following statements is true regarding proficiency?

A.Specialty designations are required for those who perform specialized audit and consulting work.

B.The globally accepted Certified Internal Auditor designation is mandatory at chief audit executive levels.

C.Internal auditors are encouraged to obtain appropriate professional designations.

D.Studies for professional designations are the preferred source of continuing professional education

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Question 61

Question 62

Question 63

Question 64

Question 65

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