IIA IIA-CIA-Part1 Quiz 41 Topic 3 Questions 201-205

Question: 1

Which of the following best describes the assessment of risks?

AAssess the actions necessary to reduce the likelihood and/or impact of risk to tolerable levels.

BAssess the likelihood and/or impact of risk on the achievement of organizational objectives.

CAssess the amount of risk an organization can accept while pursuing its objectives.

DAssess alternative strategies to reduce or eliminate major risks.

Show Answer

Question: 2

Which of the following risk management activities is most appropriate for an internal auditor to undertake?

AImpose risk management processes.

BCoordinate risk management activities.

CImplement risk responses on management's behalf.

DReview the management of key risks.

Show Answer

Question: 3

Which of the following would most likely be considered a red flag for fraud?

AAn organization lacks a whistleblower hotline for reporting suspicious activity.

BA senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.

CAn employee in charge of payroll disbursements has rotated these duties with several colleagues.

DAn employee with significant personal debt is in charge of handling large wire transfers for the organization.

Show Answer

Question: 4

Which of the following techniques would best assist an internal auditor in evaluating the efficiency of a wholesale grocery distributor`s process to fill and package orders for shipping?

AA Bedford analysis of orders filled to average delivery times.

BDecision trees rating actual performance against requirements.

CQueuing theory to assess potential bottlenecks in the process.

DA program evaluation and review technique chart.

Show Answer

Question: 5

When conducting an interview, an internal auditor is most likely to ask open-ended questions in order to:

AObtain specific answers and maximize efficiency.

BGather factual data on several different topics.

CDetermine agreement or disagreement with a stated viewpoint.

DObtain information based on the person's own perspective.

Show Answer

IIA IIA-CIA-Part1 Quiz:41 Topic:3 Questions:201-205