IIA IIA-CIA-Part1 Quiz 113 Topic 3 Questions 561-565

Question: 1

Organizations that use a highly structured command-and-control management approach are at greater risk of:

ADelayed response due to the inability to reach consensus among decision makers.

BNegative consequences that result from lower-level staff's unwillingness to confront errors by superiors.

CErosion of staff morale due to perceptions of ineffective leadership.

DWaste and abuse of organizational resources resulting from management override of controls.

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Question: 2

In order to provide the most useful information for an organization's risk management decisions, which of the following should be assessed?

ARisk levels for future events based on the degree of uncertainty of those events and their cost of mitigation.

BInherent and control risks and their impact on the extent of financial misstatements.

CRisk levels of current and future events, their effect on the achievement of the organization's objectives, and their underlying causes.

DRisk levels of current and future events, their impact on the organization's mission, and the potential for the elimination of existing risk factors.

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Question: 3

Which of the following represents the most effective governance structure?

I .

Operating

Executive

Internal

Management

Auditing

Responsibility for risk

Oversight role

Advisory role

II.

Oversight role

Responsibility for risk

Advisory role

III.

Responsibility for risk

Advisory role

Oversight role

IV.

Oversight role

Advisory role

Responsibility for risk

AI Only

BII

CIII

DIV

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Question: 4

Which of the following represents the correct order of the risk management process?

AResource allocation, risk management metrics, risk assessment, post-mortem analysis, effective communication.

BRisk management metrics, resource allocation, risk assessment, effective communication, post-mortem analysis.

CRisk assessment, resource allocation, risk governance and reporting, post-mortem analysis, feedback.

DResource allocation, risk monitoring, risk assessment, feedback, post-mortem analysis.

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Question: 5

Which of the following should be incorporated in a risk management policy?

I . Boundaries and limit structures.

II . Requirements for reporting risk.

III . Risk authorities.

AI and II only

BI and III only

CII and III only

DI, II, and III.

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IIA IIA-CIA-Part1 Quiz:113 Topic:3 Questions:561-565