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Exam Code: IIA-CRMA-ADV
Exam Name: Certification in Risk Management Assurance
Updated: Sep 15, 2026
Q & A: 285 Questions and Answers
IIA-CRMA-ADV Free Demo download
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| Section | Objectives |
|---|---|
| Topic 1: Risk Response and Mitigation | - Control design and evaluation - Risk treatment strategies - Monitoring risk responses |
| Topic 2: Risk Identification and Assessment | - Risk prioritization techniques - Risk assessment frameworks - Risk identification methods |
| Topic 3: Risk Management Governance | - Three lines model / internal audit role - Risk oversight responsibilities - Organizational governance structures |
| Topic 4: Assurance of Risk Management | - Reporting risk and assurance results - Assurance mapping - Internal audit assurance over ERM |
A former line supervisor from the Financial Services Department has completed six months of a two-year development opportunity with the internal audit activity (IAA). She is assigned to a team that will audit the organization's payroll function, which is managed by the Human Resources Department. Which of the following statements is most relevant regarding her independence and objectivity with respect to the payroll audit?
Correct Answer: D 🗳️
According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?
Correct Answer: A 🗳️
Management of a publicly-held organization requires the internal audit activity to be involved with quarterly financial statements, which are made public and used internally. Which of the following explanations of management's decision is least plausible?
Correct Answer: D 🗳️
If appropriate safeguards exist, which of the following is considered a legitimate internal audit role within risk management at an organization?
Correct Answer: A 🗳️
What is the additional advantage of facilitated workshops, in comparison with structured interviews, used when testing the effectiveness of entity-level controls?
Correct Answer: C 🗳️
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