IIA IIA Certifications IIA-CCSA Questions & Answers

• Question 111:

  Which of the following is Correct?

  A. Risk appears in the finance profession as a qualitative element of holding expenses or the opportunity to gain profits from such investments.

  B. Risk appears in the finance profession as a quantitative element of holding liabilities or the opportunity to gain profits from such investments.

  C. Risk appears in the finance profession as a quantifiable element of holding assets or the opportunity to gain profits from such investments.

  D. Risk appears in the finance profession as a quantitative element of holding revenues or the opportunity to gain profits from such investments.

  Correct Answer: C

• Question 112:

  A process to identify, assess, manage and control potential events in order to provide reasonable assurance regarding the achievement of the organization's objectives is called:

  A. Activity management

  B. Risk management

  C. Control management

  D. Accomplish management

  Correct Answer: B

• Question 113:

  The possibility of an event occurring that will have an impact on the achievement of objectives refers to:

  A. Performance

  B. Progress

  C. Measurement

  D. Risk

  Correct Answer: D

• Question 114:

  The risk remaining after management takes action to reduce the impact and likelihood of an adverse event is called residual risk.

  A. True

  B. False

  Correct Answer: A

• Question 115:

  In which standard, the chief executive should establish a follow-up process to monitor and ensure that management actions have been effectively implemented or that senior management has accepted the risk of not taking action.

  A. 2050.C1- Investigating progress

  B. 2500.A3- Implementing progress

  C. 2500.A1- Monitoring progress

  D. 2500.A2- Mitigating progress

  Correct Answer: C

• Question 116:

  Effectively coordinating the activities of and communicating information among the board, external and internal auditors and management is one of the objectives of:

  A. Governance

  B. Activity Approval

  C. Communication

  D. Evaluation

  Correct Answer: A

• Question 117:

  The internal audit activity should evaluate risk exposures relating to the organization's risk management system, is:

  A. 2010.A1-Risk management standard

  B. 2110.A2-Risk management standard

  C. 2110.A3-Risk management standard

  D. 2010.A4-Risk management standard

  Correct Answer: B

• Question 118:

  In which standard, the internal audit activity should evaluate and contribute to the improvement of risk management, control and governance processes using a systematic approach.

  A. 2020-Communication and approval

  B. 2010-Planning

  C. 2120- Controlling

  D. 2100-Nature of work

  Correct Answer: D

• Question 119:

  2010- Planning standard states that:

  A. The external audit activity's plan of engagements should be based on a productivity assessment, undertaken at least annually.

  B. The internal audit activity's project of engagements should be based on a change assessment, undertaken at least annually.

  C. The internal audit activity's plan of engagements should be based on a risk assessment, undertaken at least annually.

  D. The external audit activity's plan of engagements should be based on a process assessment, undertaken periodically.

  Correct Answer: C

• Question 120:

  The internal auditor for standard 1220 should exercise due professional care by considering which following aspects?

  A. Risk management, probability and cost

  B. Reliability, security, performance

  C. Reliability, security, cost

  D. Reliability, probability, performance

  Correct Answer: A