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IIA
IIA-CRMA: Certification in Risk Management Assurance (CRMA) Exam

IIA Certification in Risk Management Assurance (CRMA) Exam Questions

Name: IIA Certification in Risk Management Assurance (CRMA) Exam Exam
Brand: Pass4Success
SKU: Certification in Risk Management Assurance (CRMA) Exam
Price: 69.00 USD
Availability: InStock
Rating: 4.9 (115 reviews)

Exam Name: Certification in Risk Management Assurance (CRMA) Exam

Exam Code: Certification in Risk Management Assurance (CRMA) Exam

Related Certification(s): IIA Certification in Risk Management Assurance Certification

Certification Provider: IIA

Number of Certification in Risk Management Assurance (CRMA) Exam practice questions in our database: 283 (updated: Jul. 23, 2024)

Expected Certification in Risk Management Assurance (CRMA) Exam Topics, as suggested by IIA :

Topic 1: Developing and implementing risk mitigation plans/ Integrity, ethical values, and other soft controls
Topic 2: Periodic review of risk management processes to aid in continuous improvement/ Objectives of risk management processes
Topic 3: Advocate for the establishment of risk management/ Risk capacity, appetite, and tolerance of organization
Topic 4: Develop risk management strategy for board approval/ Management's philosophy and operating style
Topic 5: Monitoring risk mitigation plans and emerging risks/ Role, authority, responsibility, etc., for risk management
Topic 6: Setting objectives at all levels to achieve strategic initiatives/ Review the management of key risks
Topic 7: Coach management in responding to risks/ Needs and expectations of key internal stakeholders
Topic 8: Maintain and develop the risk management framework/ Documentation of governance-related decision-making
Topic 9: Facilitate identification and evaluation of risks/ Management of third party business relationships
Topic 10: Coordinate risk management activities/ Risk analysis and evaluation including correlation, inter dependencies, and prioritization

Disscuss IIA Certification in Risk Management Assurance (CRMA) Exam Topics, Questions or Ask Anything Related

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Jesusita

21 days ago

Just passed the CRMA exam! A key focus was on risk assessment methodologies. Expect scenario-based questions on identifying and evaluating risks in various business contexts. Brush up on risk matrix creation and interpretation. Thanks to Pass4Success for the spot-on practice questions that helped me prepare efficiently!

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Annamae

24 days ago

I passed the CRMA exam with the help of Pass4Success practice questions. The exam covered topics like developing and implementing risk mitigation plans and periodic review of risk management processes. One question that stood out to me was about the importance of integrity and ethical values in risk management. I wasn't sure of the answer at first, but I managed to pass the exam.

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Free IIA Certification in Risk Management Assurance (CRMA) Exam Exam Actual Questions

Note: Premium Questions for Certification in Risk Management Assurance (CRMA) Exam were last updated On Jul. 23, 2024 (see below)

Question #1

Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook. Which of the following handbook policies has the greatest risk of compromising audit objectivity?

AInternal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.

BInternal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.

CInternal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.

DInternal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.

Reveal Solution Hide Solution

Correct Answer: B

Question #2

Which of the following offers the best evidence that the internal audit activity has achieved organizational independence?

AAn independent third party has assessed the organization's system of internal controls to be adequate and effective.

BThe chief audit executive reports both functionally and administratively to the CEO.

CThe internal audit charter is drafted properly and approved by the appropriate parties.

DThe mission statement and strategy of the internal audit activity demonstrates alignment to organizational objectives.

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Correct Answer: B

Question #3

Which of the following is an example of a risk management avoidance response?

AExiting a marketplace.

BRecalling a product.

CObtaining product insurance.

DOutsourcing production.

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Correct Answer: A

Question #4

As a matter of policy, the chief audit executive routinely rotates internal audit staff assignments and periodically interviews the staff to discuss the potential for conflicts of interest. These actions help fulfill which of the following internal audit mandates?

AOrganizational independence.

BProfessional objectivity.

CDue professional care.

DIndividual proficiency.

Reveal Solution Hide Solution

Correct Answer: B

Question #5

Which of the following is an example of a risk avoidance strategy?

AHedging against exchange rate variations.

BLimiting access to an organization's data center.

CSelling a nonstrategic business unit.

DOutsourcing a high-risk activity.

Reveal Solution Hide Solution

Correct Answer: C

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