Free IIA-ACCA Exam Questions - Easiest Way for Success

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Total 610 Questions | Updated On: Sep 12, 2024

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Question 1

Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?

A : Adequate signs are in place to assist in locating safety equipment.

B : Servers are secured individually to their racks by locks.

C : Foam fire extinguishers are operable to protect against electrical fires.

D : Swipe card access is required to gain access to the server room.

Answer: A

Question 2

Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?

A : The cost of goods sold for the period will be understated.

B : The cost of goods sold for the period will be overstated.

C : The net income for the period will be understated.

D : There will be no effect on the cost of goods sold or the net income for the period.

Answer: B

Question 3

An IT contractor applied for an internal audit position at a bank. The contractor worked for the bank's IT security manager two years ago. If the audit manager interviewed the contractor and wants to extend a job offer, which of the following actions should the chief audit executive pursue?

A : Allow the audit manager to hire the contractor and state that the individual is free to perform IT audits, including security.

B : Not allow the audit manager to hire the contractor, as it would be a conflict of interest.

C : Allow the audit manager to hire the contractor, but state that the individual is not allowed to work on IT security audits for one year.

D : Not allow the audit manager to hire the contractor and ask the individual to apply again in one year.

Answer: A

Question 4

According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?

A : The organization's audit universe is extensive and diverse.

B : There has been an increase in unanticipated requests for advisory work.

C : Previous work provided by the external service provider has been of great quality and value.

D : A recent benchmarking study found that using external service providers is a common practice of similarly-sized IAAs in other organizations.

Answer: B

Question 5

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

A : Exiting a marketplace.

B : Recalling a product.

C : Obtaining product insurance.

D : Outsourcing production.

Answer: A

Page: 1 / 122

Total 610 Questions | Updated On: Sep 12, 2024

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