IIA IIA-CGAP Online Practice Questions and Exam Preparation

IIA IIA-CGAP Online Questions & Answers

• Question 321:

  Which category of Professional Practices Framework can help to implement the guidance offered in the Code of Ethics, Standards, and Practice Advisories and also provide internal audit practitioners with the views of various experts on techniques and processes related to the professional practice of internal auditing?

  A. Mandatory Guidance
  B. Development and practice aids
  C. Practice Advisories
  D. Mandatory Guidance, Practice Advisories
  B. Development and practice aids

• Question 322:

  The term _______refers to methods designed to describe or summarize the characteristics of a data set. The term _______refers to methods designed to allow inferences or estimates to be made about the characteristics of a data set.

  A. Inferential statistics, descriptive statistics
  B. Standard deviation, mean
  C. Descriptive statistics, inferential statistics
  D. Median, arithmetic mean
  C. Descriptive statistics, inferential statistics

• Question 323:

  ________ is an analytic method that investigates the meaning of data. And It is primarily a _________where any form of communication is coded or classified in line with some conceptual framework. Important considerations are dealing with interpretation of meanings, the unit of analysis, coding categories, and the actual coding techniques.

  A. Content analysis, coding operation
  B. Cost/benefit analysis, coding operation
  C. Cost-effectiveness analysis, coding operation
  D. Regression analysis, coding operation
  A. Content analysis, coding operation

• Question 324:

  _______enables managers and auditors to directly link the costs of program resources to the objects produced, whether the objects are products or services. The link is established through the costing of the activities performed in producing the object.

  A. Activity-based costing (ABC)
  B. Batch costing
  C. Life-Cycle costing
  D. process costing
  A. Activity-based costing (ABC)

• Question 325:

  All of The following are considered abuses of public debt EXCEPT:

  A. Borrowing to finance operating expenditures.
  B. Borrowing beyond ability to repay.
  C. Not borrowing where corruption is widespread.
  D. Borrowing to finance no-return projects or speculative facilities.
  C. Not borrowing where corruption is widespread.

• Question 326:

  All of the following is a list of principles for formulating well-stated audit objectives EXCEPT:

  A. Phrase objectives either as precisely worded questions or as items to determine (e.g., "To determine whether...").
  B. Clearly identify the type of performance to be audited and separate objectives if more than one element of performance is to be reviewed.
  C. There is no need to clearly identify the customer.
  D. Review the audit objectives with management or others requesting the audit and Frame objectives that consider a realistic scope and methodology.
  C. There is no need to clearly identify the customer.

• Question 327:

  ________ is usually applied to testing systems of internal control and is concerned with estimating the number of errors in the population. This sampling calls for an answer on a two way scale (e.g., Yes or No, Right or Wrong). Where as _______ can be used for values such as dollar values, time periods, or weights. Estimates are based on a sample of items such as the value of inventories, the value of disallowances of travel vouchers, or the value of accounts receivable.

  A. Judgment samples, Probability samples
  B. Attributes sampling, Variables sampling
  C. Variables sampling, Attributes sampling
  D. Probability samples, Judgment samples
  B. Attributes sampling, Variables sampling

• Question 328:

  ____________ is an independent, objective assurance and consulting activity designed to add value and improve organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

  A. Internal auditing
  B. External auditing
  C. Compliance audit
  D. None
  A. Internal auditing

• Question 329:

  Capital budgeting is often based on the issuance of capital debt. Capital debt (based on GASB 11) includes all of the following debt that are issued EXCEPT:

  A. Finance the acquisition or construction of fixed assets reported on the balance sheet.
  B. No Refund existing capital debt.
  C. Finance capital grants to other governments.
  D. Finance certain nonrecurring projects or activities that have a long-term economic benefit.
  B. No Refund existing capital debt.

• Question 330:

  ________make decisions themselves and issue orders to subordinates without seeking their input and without regard to their feelings where as __________ use a more democratic approach to leadership. Practitioners of participate management seek out and incorporate input from subordinates when making decisions.

  A. Participative managers, Autocratic managers
  B. Directing managers, Consultative managers
  C. Autocratic managers, Participative managers
  D. Consultative managers, Directing managers
  C. Autocratic managers, Participative managers