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Total 951 Questions | Updated On: Nov 18, 2024

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Question 1

A computer system automatically locks a user's account after three unsuccessful attempts to log on.

Which type of control does this scenario represent?

A : Corrective control.

B : Preventive control.

C : Detective control.

D : Compensating control.

Answer: B

Question 2

According to IIA guidance, which of the following risk management process evaluation findings would the internal audit activity consider most effective?

A : Relevant risk information is captured and communicated in a periodic manner to management.

B : Risk management processes are monitored through an annual assessment.

C : Risk responses align with the organization's risk appetite.

D : Strategic risks with low residual values are continuously monitored.

Answer: C

Question 3

An internal auditor used a questionnaire during an interview to gather information about the nature of credit sales processing. The questionnaire did not cover some pertinent information offered by the person being interviewed, and the auditor did not document the potential problems for further investigation. The primary deficiency with the above process is that:

A : The auditor failed to consider the importance of the information offered.

B : A questionnaire was used in a situation where a structured interview should have been used.

C : The use of a questionnaire precluded the auditor from documenting other information.

D : The engagement program was incomplete.

Answer: A

Question 4

The chief audit executive for an organization has just completed a risk assessment process, identified the areas with the highest risk, and assigned an audit priority to each. Which of the following statements is true and consistent with the International Professional Practices Framework?

I. Items should be ranked in the order of quantifiable dollar exposure to the organization.

II. The audit priorities should be in order of major control deficiencies.

III. The risk assessment, though quantified, is the result of professional judgments about both exposures and probability of occurrences.

A : I only

B : III only

C : II and III only

D : I, II, and III.

Answer: B

Question 5

For a bank handling large amounts of cash, which of the following types of control would be the most effective to use?

A : Detective controls.

B : Corrective controls.

C : Preventive controls.

D : Directive controls.

Answer: C

Page: 1 / 191

Total 951 Questions | Updated On: Nov 18, 2024

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