Most Recent IIA-CRMA Exam Questions & Answers

Prepare for the IIA Certification in Risk Management Assurance (CRMA) Exam exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the IIA-CRMA exam and achieve success.

The questions for IIA-CRMA were last updated on Jan 19, 2025.

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Question No. 1

Reviewing prior audit reports and supporting workpapers before an engagement starts enables an internal auditor to do which of the following?

1. To understand better the activity and processes that will be audited.

2. To identify the audit procedures that will be used during the engagement.

3. To ensure that matters of greatest vulnerability will be addressed.

4. To use the information obtained as evidence in the current engagement.

A4 only

B1 and 3 only

C1 and 4 only

D2, 3, and 4 only

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Correct Answer: B

Question No. 2

The director of purchasing, a certified internal auditor (CIA), signs a contract to procure a large order from a supplier whose products provide the best price, quality, and performance. A few days after signing the contract, the supplier presents the CIA with $1, 000 as a gift. Which statement regarding acceptance of the money is correct?

AAccepting the money would be prohibited only if it were non-customary.

BAccepting the money would violate the IIA Code of Ethics.

CBecause the CIA is not acting as an internal auditor, accepting the money would be governed only by the organization's code of conduct.

DBecause the contract was signed before the money was offered, accepting the money would not violate the IIA Code of Ethics.

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Correct Answer: B

Question No. 3

Which of the following is a common type of payroll fraud?

AUnauthorized overtime.

BFictitious employees.

CUnearned bonuses or commissions.

DSkimming.

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Correct Answer: B

Question No. 4

Which of the following is an activity that an internal auditor must not perform?

AEstablish and provide continuing assurance on an anti-money laundering program for new hires.

BSurvey employees for their understanding of anti-money laundering practices.

CProvide assurance for the effectiveness of anti-money laundering training.

DAssess the risk of being fined for ineffective anti-money laundering practices.

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Correct Answer: A

Question No. 5

During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?

ADefinition of Internal Auditing.

BMA Standards.

CInternal audit charter.

DThe IIA's Code of Ethics.

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Correct Answer: C

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