IIA Certification in Risk Management Assurance : IIA-CRMA-ADV

IIA-CRMA-ADV real exams

Exam Code: IIA-CRMA-ADV

Exam Name: Certification in Risk Management Assurance

Updated: Sep 15, 2026

Q & A: 285 Questions and Answers

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IIA IIA-CRMA-ADV Exam Syllabus Topics:

SectionObjectives
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

IIA Certification in Risk Management Assurance Sample Questions:

Question #1

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?

  • A. She may participate, but she must be supervised by the auditor in charge.
  • B. She may participate for training purposes, to build her knowledge of the IAA.
  • C. She may participate, but only after she has completed one year with the IAA.
  • D. She may participate, because she did not previously work in the Human Resources Department.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #2

According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?

  • A. Assessing the risk factors.
  • B. Enhancing risk response decisions.
  • C. Aligning risk appetite and strategy.
  • D. Reducing operational surprises and losses.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #3

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?

  • A. Management may be concerned about its reputation in the financial markets.
  • B. Management may perceive that having quarterly financial information examined by the internal auditors enhances the information's value to internal decision making.
  • C. Management may be concerned about potential penalties that could occur if quarterly financial statements are misstated.
  • D. Management is following best-practice protocol, as stipulated by the Standards, which states that internal auditors must review quarterly financial statements.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #4

If appropriate safeguards exist, which of the following is considered a legitimate internal audit role within risk management at an organization?

  • A. Providing consolidated reporting on risks.
  • B. Taking accountability for risk management.
  • C. Making decisions on risk responses.
  • D. Imposing risk management processes.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #5

What is the additional advantage of facilitated workshops, in comparison with structured interviews, used when testing the effectiveness of entity-level controls?

  • A. During facilitated workshops, people more openly say things to internal auditors than during private interviews.
  • B. The testimonial evidence obtained during facilitated workshops is generally considered more reliable.
  • C. Facilitated workshops create a synergy of discussion that can bring multiple perspectives to the same issue.
  • D. Internal auditors do not need other sources of information, as the data gathered during facilitated workshops is sufficient.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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