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Free IIA-CRMA Exam Braindumps
Certification in Risk Management Assurance (CRMA) Exam Questions 81–85 (page: 18)

Updated On: 9-Feb-2026
Page 18 of 58
PDF with 283 Questions

Which of the following is not a role of the internal audit activity in facilitating risk identification and evaluation?

  1. Evaluating risk management processes.
  2. Recommending accountability for risk management.
  3. Providing assurance that risks are evaluated correctly.
  4. Supporting managers to identify ways to mitigate risks.

Answer(s): B



Which of the following is a second line of defense in effective risk management and control?

  1. Purchasing department.
  2. Compliance department.
  3. Credit department.
  4. Internal audit department.

Answer(s): B



An accounts receivable clerk receives cash payments, posts the payments to customer accounts, and prepares the daily cash deposit.
The clerk has been stealing some cash and manipulating the customer payments to hide the theft. This fraud could be detected with which of the following controls?

  1. Monthly bank reconciliations are performed by the clerk on a timely basis.
  2. Total cash deposits for the month are reconciled to the cash receipts journal.
  3. Names, amounts, and dates on remittance advices are reconciled with the names, amounts, and dates recorded in the cash receipts journal.
  4. Total cash deposits are compared with the bank reconciliation.

Answer(s): C



Which of the following conditions is the most likely indicator of fraud?

  1. Commissions are paid based on verified increases to sales.
  2. Departmental reports are consistently issued in an untimely manner.
  3. A manager regularly assumes subordinates' duties.
  4. Lower earnings occur during the industry's down cycle.

Answer(s): C



Which of the following would not be a red flag for fraud?

  1. Several recent, large expenditures to a new vendor have not been documented.
  2. A manager has bragged about multiple extravagant vacations taken within the last year, which are excessive relative to the manager's salary.
  3. A weak control environment has been accepted by management to encourage creativity.
  4. New employees occasionally fail to meet established project deadlines due to staffing shortages.

Answer(s): D



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