File Info
| Exam | Certified Financial Services Auditor |
| Number | IIA-CFSA |
| File Name | IIA.IIA-CFSA.SelfTestEngine.2018-10-11.275q.vcex |
| Size | 426 KB |
| Posted | Oct 11, 2018 |
| Download | IIA.IIA-CFSA.SelfTestEngine.2018-10-11.275q.vcex |
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Demo Questions
Question 1
Both residual and control risk need to be_______________ dealt with in project management.
- Timely
- Implicitly
- Professionally
- Explicitly
Correct answer: D
Question 2
“Ongoing monitoring activities are conducted to periodically reassess risk and the effectiveness of control risk,” is an objective of:
- Risk Identification
- Risk Measurement
- Risk Management Process
- Risk Prioritization
Correct answer: C
Question 3
Faulty human judgments, misunderstanding of instructions, errors, management override, and collusion and cost/benefit considerations are the limitations of:
- Reasonable Assurance
- Internal Control System
- Risk Management
- Compliance Control
Correct answer: B
Question 4
Five internal control components are:
- Control environment, Risk assessment, Control activities, Information and communication & Monitoring
- Control environment, Risk assessment, and Operational control, Information and communication & Monitoring
- Control environment, Risk Prioritization, Control activities, Information and communication & Monitoring
- Control environment, Risk Prioritization, Control activities, Information and communication & Monitoring
Correct answer: A
Question 5
Enterprise risk management encompasses all EXCEPT:
- Aligning risk appetite and strategy
- Enhancing risk responsibilities and decisions
- Increasing Operational Surprises
- Seizing Opportunities
Correct answer: C
Question 6
Organization’s Objectives are described in three general categories:
- Effectiveness of operations, Efficiency of strategic plans, Reliability of internal and external reporting
- Effectiveness of operations, Efficiency of strategic plans, Reliability of internal and external reporting, compliance with applicable laws and regulations
- Effectiveness and Efficiency of operations, Compliance with applicable laws and regulations, Monitoring and management control system
- Effectiveness and Efficiency of operations, Reliability of internal and external reporting, Compliance with applicable laws and regulations
Correct answer: D
Question 7
The plans developed for the audit functions should be updated as circumstances dictate. Such specific types of plans include all EXCEPT:
- Activity Reports
- Target dates
- Opportunities and threats
- Staffing plans and financial budgets
Correct answer: C
Question 8
Auditors can use background information to define and modify:
- Scope of the audit
- The likelihood that a risk will occur
- Activity reports
- Audit Criteria (Reasonable, attainable, and relevant)
Correct answer: A
Question 9
The main purposes of the audit survey are to assist with following goals and tasks EXCEPT:
- Develop preliminary estimates of time and resource requirements
- Determine whether further auditing is necessary
- Documenting key control activities
- Identify potential critical control points, control deficiencies or excessive controls
Correct answer: C
Question 10
Auditors define audit objectives based on information gained:
- From external sources of the organization
- Either from knowledge they already have or from inquiries and observations
- From internal sources of the organization
- From external sources of the organization
Correct answer: B
