IIA IIA-CHAL-QISA Online Practice Questions and Exam Preparation

IIA IIA-CHAL-QISA Online Questions & Answers

• Question 121:

  Which of the following documents are internal auditors most likely to be asked to sign as a demonstration of due professional care?

  A. A description of their job responsibilities.
  B. A non-disclosure agreement
  C. An annual declaration of commitment to The HAs Code of Ethics.
  D. The internal audit charter
  C. An annual declaration of commitment to The HAs Code of Ethics.

• Question 122:

  A bank uses customer departmentalization to categorize its departments. Which of the following groups best exemplifies this method of categorization?

  A. Community, institutional, and agricultural banking
  B. Mortgages, credit cards, and savings.
  C. South, southwest and east.
  D. Teller, manager, and IT specialist
  A. Community, institutional, and agricultural banking

• Question 123:

  Which of the following is a true statement regarding whistleblowing?

  A. Whistleblowing is one of several possible ethical structures an organization can undertake to encourage ethical behavior.
  B. Whistleblowing programs help employees deal with ethical questions and instill ethical values into everyday behavior
  C. Whistleblowers are current or former employees who are disgruntled and looking to retaliate.
  D. Whistleblowers should inform the organization about actual criminal circumstances, not assumed allegations.
  A. Whistleblowing is one of several possible ethical structures an organization can undertake to encourage ethical behavior.

• Question 124:

  According to IIA guidance, which of the following activities are typically primary objectives of engagement supervision?

  A. Enable training and development of staff, identify engagement objectives, and assign responsibilities to individual auditors.
  B. Identify engagement objectives, assign responsibilities to individual auditors, and approve the engagement program.
  C. Assign responsibilities to individual auditors, approve the engagement program, and enable training and development of staff.
  D. Approve the engagement program, enable training and development of staff, and identify engagement objectives
  C. Assign responsibilities to individual auditors, approve the engagement program, and enable training and development of staff.

• Question 125:

  Which of the following could increase risks to the organization's control environment?

  A. Strong board of directors oversight.
  B. Incentive-based compensation structures
  C. Lower than average employee turnover.
  D. Implementation of a fraud hotline
  B. Incentive-based compensation structures

• Question 126:

  Which of the following methods is most closely associated to year over year trends?

  A. Horizontal analysts
  B. Vertical analysis.
  C. Common-size analysis.
  D. Ratio analysis.
  A. Horizontal analysts

• Question 127:

  According to IIA guidance, which of the following is a limitation of a heat map?

  A. Impact cannot be represented on a heat map unless it is quantified in financial terms
  B. Impact and likelihood at times cannot be differentiated as to which is more important.
  C. A heat map cannot be used unless a risk and control matrix has been developed.
  D. Qualitative factors cannot be incorporated into a heat map
  B. Impact and likelihood at times cannot be differentiated as to which is more important.

• Question 128:

  According to IIA guidance, which of the following practices by the chief audit executive (CAE) best enhances the organizational independence of the Internal audit activity^

  A. CAE reviews and approves the annual audit plan.
  B. CAE meets privately with the CEO at least annually
  C. CAE meets privately with the board at least annually.
  D. CAE reports to the board regarding audit staff performance evaluation and compensation.
  C. CAE meets privately with the board at least annually.

• Question 129:

  According to IIA guidance, which of the following actions by the chief audit executive would best ensure that internal auditors demonstrate due professional care?

  A. Developing policies and procedures for the internal audit activity
  B. Ensuring the internal audit activity is not found fallible during audit engagements.
  C. Undertaking all engagements that management requests of the internal audit activity.
  D. Ensuring the internal audit activity reports functionally to the board of directors
  A. Developing policies and procedures for the internal audit activity

• Question 130:

  An organization does not have a formal risk management function. According to the Standards, which of the following are conditions where the internal audit activity may provide risk management consulting?

  1.There is a clear strategy and timeline to migrate risk management responsibility back to management.

  2.The internal audit activity has the final approval on any risk management decisions.

  3.The internal audit activity gives objective assurance on all parts of the risk management framework for which it is responsible.

  4.The nature of services provided to the organization is documented in the internal audit charter.

  A. 1 and 4 only.
  B. 2 and 4 only.
  C. 1 and 3 only.
  D. 2 and 3 only.
  A. 1 and 4 only.