Practice IIA-CIA-Part1-3P-CHS Exam Online

Question 1

Which of the following would most likely be classified as a consulting engagement?

A : Examining the internal control effectiveness of the marketing department.

B : .Assessing the adequacy of the IT system's business process design.

C : Facilitating a self-assessment of the organization's business risk and control identification.

D : Reviewing the application controls in the human resources system.

Answer: C

Question 2

What type of risk management strategy is being employed when an organization installs two firewalls to provide protection from unauthorized access to the network?

A : Diversifying the risk that network access will not be available to legitimate, authorized users.

B : Accepting the risk that there may be attempts at unauthorized access to the network.

C : Avoiding the risk of having a direct network connection to un-trusted networks

D : Sharing the risk that either firewall could be compromised by hackers.

Answer: A

Question 3

When performing an audit of the risk management process an auditor makes the observations listed below. Which poses the greatest risk to the organization?

A : The identified risks have not undergone a detailed review to ensure completeness in the past two years.

B : The controls in place to mitigate the risks are not tested on an annual basis to confirm operating effectiveness.

C : The process in place to identify and evaluate new risks to the organization is informal and poorly documented.

D : The identified risks have not been ranked to establish their importance and risk management priority.

Answer: C

Question 4

Which of the following risk management techniques best describes the strategy of obtaining insurance to protect against losses due to bad weather conditions?

A : Risk avoidance.

B : Risk reduction.

C : Risk acceptance.

D : Risk sharing.

Answer: D

Question 5

Management has requested that the internal audit activity perform a consulting engagement to review fraud prevention programs. Which of the following is a Standards requirement to accept and perform the consulting engagement?

A : The internal audit activity must be free from interference in determining the scope of the consulting engagement.

B : Internal auditors assigned to the consulting engagement must have no previous responsibility for fraud prevention programs.

C : The internal audit activity must not provide future assurance services related to fraud prevention programs until at least one year has lapsed.

D : Internal auditors must incorporate knowledge gained from the consulting engagement into me evaluation or risks and controls in future assurance engagements.

Answer: D

Name:	Certified Internal Auditor - Part 1, Internal Audit Basics
Exam Code:	IIA-CIA-Part1-3P-CHS
Certification:	Certified Internal Auditor
Vendor:	IIA
Total Questions:	951
Last Updated:	Apr 23, 2024

IIA IIA-CIA-Part1-3P-CHS