IIA IIA-CGAP Online Practice Questions and Exam Preparation

IIA IIA-CGAP Online Questions & Answers

• Question 161:

  The final investigative report serves all of the following major purposes please choose the correct option:

  A. Management overview or a brief summary of the case and details of the people involved and recommended actions.
  B. To provide a format for recording the essential details of the integrity violation.
  C. All of the above.
  D. To recommend improved management and security policies.
  B. To provide a format for recording the essential details of the integrity violation.
  D. To recommend improved management and security policies.

• Question 162:

  Peter Drucker, one of the foremost authorities on management theory, described why public sector accountability was so critically important. He described all of the following factors that distinguish service organization activities from private-sector activities EXCEPT:

  A. Role of the annual operating budget (as a controlling factor that sets policy, instead of such things as net profit or market share to guide decision-making).
  B. Domination of organization-related legal and contractual provisions
  C. Absence of a significant performance assessment capacity (few governmental entities can be evaluated by a single measure -- profit -- for effectiveness).
  D. Absence of a "harmony of purpose" control factor. Since not every division is working toward the same goal (profit), other means of control must be established to ensure that the principal's interests are the driving motivators.
  B. Domination of organization-related legal and contractual provisions

• Question 163:

  Which services involve the internal auditor's objective assessment of evidence to provide an independent opinion or conclusions regarding a process, system, or other subject matter?

  A. Accounting services
  B. Auditing services
  C. Assurance services
  D. Insurance services
  C. Assurance services

• Question 164:

  _________ are a contracting method employing competitive undisclosed bids, public bid opening, and awards contracts when:

  A. Sealed bids
  B. Open bids
  C. None of the above
  D. All of the above
  D. All of the above

• Question 165:

  Investment risk refers to the likelihood of a loss. All of the following given below are types of investment risk EXCEPT.

  A. Liquidity risk -- losses resulting because invested dollars cannot be accessed. Losses may occur from penalties for early withdrawal, for example.
  B. Economic Risks ?one of the most obvious risks of investing is that the economy can go bad.
  C. Default risk -- the possibility of a loss resulting from the bankruptcy of an organization in which funds were invested.
  D. Market risk -- the possibility of a loss resulting from choosing a relatively poor investment from a large pool of investments.
  B. Economic Risks ?one of the most obvious risks of investing is that the economy can go bad.

• Question 166:

  __________ are the Services rendered by persons who are members of a particular profession or possess a special skill and who are not officers or employees of the contractor. Where as _______ are indefinite delivery requirement contracts for transportation or for transportation related services.

  A. Facilities contract, Building service contract
  B. Professional and consultant services, Transportation term contracts
  C. Building service contract, Facilities contract
  D. Professional and consultant services, Transportation term contracts
  D. Professional and consultant services, Transportation term contracts

• Question 167:

  All of the following are guidelines for effective personnel management EXCEPT:

  A. Plan for personnel needs and review hiring results periodically to determine whether personnel needs are being achieved.
  B. Estimate the significance of a risk (magnitude of exposure in dollars or other type of measure, type of threat, duration, etc.)
  C. Provide continuing education and training for staff (external or in-house training courses, professional conferences, or seminars).
  D. Develop procedures to identify sources of potential hires, methods of contacting and attracting potential hires, and methods of evaluating and selecting potential hires.
  B. Estimate the significance of a risk (magnitude of exposure in dollars or other type of measure, type of threat, duration, etc.)

• Question 168:

  Following are the arenas of services into which a government might enter please choose the correct option:

  A. Architect-engineer services
  B. Building service contract
  C. Facilities contract
  D. All of the above.
  E. None of the above.
  D. All of the above.

• Question 169:

  The integrity violations policy should be developed based on input from the chief executive officer and the heads of the following departments: fiscal, information processing, legal, and security. Integrity violations policies should do all of the following given below please choose the correct option:

  A. State management's position against integrity violations -- the organization should make it clear that integrity violations will not be tolerated and those perpetrators will be prosecuted.
  B. Establish consistent penalties -- the policy should specify what types of action will result in reprimand, termination, or other consequences.
  C. A and B only.
  D. All of the above.
  C. A and B only.

• Question 170:

  Although not a generally accepted practice by most audit organizations, some may not comply with audit standards and call the final product reviews or studies. The entire following are some specific examples where standards may not be used EXCEPT:

  A. An "assignment" may have an extremely short deadline, making it virtually impossible to comply with all appropriate audit standards.
  B. The organization doesn't follow the audit standards.
  C. Assignments that are strictly tied to compliance with contract terms, regulations, or grant requirements.
  D. The requesting body (legislature, for example) may not want standards to be applied to the assignment.
  B. The organization doesn't follow the audit standards.