IIA IIA-CGAP Online Practice Questions and Exam Preparation

IIA IIA-CGAP Online Questions & Answers

• Question 111:

  ___________ is a contract for a supply that does not procure or specify a firm quantity of supplies (other than a minimum or maximum quantity), and that provides for the issuance of orders for the delivery of supplies during the period of the contract. Where as _________ is a contract that may be used to acquire supplies and/or services when the exact times and/or exact quantities of future deliveries are not known at the time of contract award.

  A. Delivery order, indefinite quantity
  B. Cost-plus-fixed-fee is, cost-plus-incentive-fee
  C. Cost-reimbursement, cost sharing
  D. Cost-plus-incentive-fee, cost sharing
  A. Delivery order, indefinite quantity

• Question 112:

  Control activities are policies and procedures used by the organization to address identified risks. All of the following are some examples of control activities EXCEPT:

  A. Internal accounting controls (e.g., segregation of duties, monitoring, reconciliation).
  B. Management controls (e.g., the plan, methods, and procedures adopted by management to ensure its goals are met, including systems for measuring, reporting, and monitoring program performance).
  C. Detective controls are designed to identify and correct undesirable events that have occurred.
  D. Information technology controls (e.g., access security controls, data center operation controls).
  C. Detective controls are designed to identify and correct undesirable events that have occurred.

• Question 113:

  As a part of the development of the Professional Practices Framework, significant portions of the information contained in the __________ Guidelines have been converted to Practice Advisories. Omnibus Practice Advisories ___________ are based on information previously published in the ________ but have been updated to be consistent with the new Standards and the Professional Practices Framework:

  A. "Yellow Book", 100-1 through 3600-1, "Red Book"
  B. "Red Book", 1000-1 through 2600-1, "Red Book"
  C. "Black Book", 2000-1 through 2600-1, "Red Book"
  D. "Blue Book", 1000-1 through 600-1, "Red Book"
  B. "Red Book", 1000-1 through 2600-1, "Red Book"

• Question 114:

  ________ addresses performance measures by requiring agencies to maintain an integrated accounting and financial management system that provides for the systematic measurement of performance.

  A. Small Business Act (1953)
  B. The Government Management Reform Act of 1994 (GMRA)
  C. British Trade Boards Acts (2009)
  D. The Chief Financial Officers Act of 1990 (CFO)
  D. The Chief Financial Officers Act of 1990 (CFO)

• Question 115:

  Many _____________________ are conducted in accordance with established Standards, INTOSAI, or IFAC standards. The International Organization of Supreme Audit Institutions ______________________ promulgates standards for government organizations where as the International Federation of Accountants _________________ provides additional guidance and standards:

  A. Government audits, (IFAC), (INTOSAI)
  B. Government audits, (INTOSAI), (IFAC)
  C. (IFAC), (INTOSAI), Government audits
  D. (IFAC), Government audits, (INTOSAI)
  B. Government audits, (INTOSAI), (IFAC)

• Question 116:

  There are _________of audit planning. The first type, which is the focus of this section, involves managements role in setting up ___________, authorizing appropriate resources, and selecting the functional areas to be audited. The second type of audit planning, which is discussed in Section II.C.2, involves the _________ associated with specific audits.

  A. Three types, the audit function, controlling
  B. Three types, the control function, planning
  C. Two types, the audit function, planning
  D. Two types, the planning function, planning
  C. Two types, the audit function, planning

• Question 117:

  Generally, sample size needs to be increased under the following circumstances EXCEPT:

  A. As the population increases.
  B. As the expected error rate increases.
  C. When the population increases.
  D. As variability within the population increases.
  C. When the population increases.

• Question 118:

  Beyond blatant illegal activities there are more subtle situations that can taint the public's perception of government. All of the following are the areas of ethical concerns EXCEPT:

  A. Disclosure -- if any benefit from an activity is to be accrued by an employee, the relationship and benefit must be disclosed to management prior to the transaction.
  B. Organizational ethics -- the environment or culture of an organization and formal and informal rules of conduct. These can also include specific laws and regulations.
  C. Gratuities and kickbacks -- a payment or inducement to promote a specific transaction or procurement activity.
  D. Conflict of interest -- where an employee or family member has a financial interest in procurement activity or government transaction.
  B. Organizational ethics -- the environment or culture of an organization and formal and informal rules of conduct. These can also include specific laws and regulations.

• Question 119:

  All of the following are the Aspects of control activities that would help an auditor assess vulnerability EXCEPT:

  A. Inadequate performance monitoring by high-level management and prolonged under staffing.
  B. Acceptance of audit findings and corrective action taken.
  C. Lack of competence and integrity of management and staff.
  D. Planning about future events
  D. Planning about future events

• Question 120:

  Management controls are the plans, methods, and procedures adopted by management for measuring, reporting, and monitoring program performance. All of the following are objectives of management control EXCEPT:

  A. Validity and reliability of data.
  B. Controlled operations
  C. Program operations
  D. Compliance with laws and regulations.
  B. Controlled operations