Page 1 out of 18. Viewing questions 1-15 out of None
Question 1
The organization has a mechanism to ensure the prompt resolution of findings from audits and other reviews through:
A. Program evaluation
B. Audit resolution
C. Ongoing monitoring
D. Control environment
Answer:
B
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Question 2
Which of the following is Correct?
A. Communications from external parties should corroborate internally generated data or indicate problems with internal control.
B. Approval from external parties should corroborate externally generated data or indicate problems with internal control.
C. Communications from internal parties should corroborate internally generated data or indicate problems with external control.
D. Communications from internal parties should corroborate externally generated data or indicate problems with external control.
Answer:
A
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Question 3
Management has a strategy to ensure that ____________ is effective and will trigger separate evaluations where problems are identified or systems are critical and testing is periodically desirable.
A. System monitoring
B. Activity-level monitoring
C. Internal control monitoring
D. Ongoing monitoring
Answer:
D
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Question 4
After the risks to the organization have been identified, management undertakes a thorough and complete analysis of their possible effects, this is called:
A. Risk assessment
B. Risk management
C. Risk analysis
D. Risk control
Answer:
C
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Question 5
What flow from and are linked with the organization’s entity wide objectives and strategic plans?
A. Entity wide plans
B. Activity-level objectives
C. General applications
D. Risk control activities
Answer:
B
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Question 6
___________ are clearly communicated to all employees and management obtains feedback signifying that the communication has been effective.
A. Entity wide objectives
B. Activity-level objectives
C. Presentations
D. Forms and means of communication
Answer:
A
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Question 7
Employees are provided a proper amount of supervision in:
A. Establishment of organizational objectives
B. Oversight groups
C. Assignment of authority
D. Human resource policies and practices
Answer:
D
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Question 8
The delegation of authority is not well appropriate in relation to the assignment of responsibility.
A. True
B. False
Answer:
B
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Question 9
Which of the following is Correct?
A. The organizations competence to standards is appropriate for its size and the nature of its operations.
B. The organization’s operating style is appropriate for its size and the nature of its operations.
C. The organizations organizational structure is appropriate for its size and the nature of its operations.
D. The organizations organizational authority and responsibility is appropriate for its size and the nature of its operations.
Answer:
C
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Question 10
The organization has performed analyses of the knowledge, skills, and abilities needed to perform jobs in an appropriate manner in order to:
A. Management’s philosophy
B. Commitment to competence
C. Organizational structure
D. None of the above
Answer:
B
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Question 11
An ethical tone has been established at the top of the organization and has been communicated throughout the organization.
A. True
B. False
Answer:
A
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Question 12
What assesses the quality of performance over time?
A. Internal control monitoring
B. Business decisions
C. Organizational policies and procedures
D. Standardization
Answer:
A
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Question 13
Which risk exposure has extensive control response of presidential approval for public announcements and can result in poor efficiency.
A. Increase in loss of assets
B. Poor business decisions
C. Excessive non-compliance
D. Public scandals
Answer:
D
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Question 14
Escalation of poor business decisional risk has extensive control response of complex review and can result in:
A. Loss of productivity
B. Excessive labor cost
C. Missed opportunities
D. Loss in process advancement
Answer:
C
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Question 15
In order to achieve balance between ________ and _______, internal controls should be proactive, value-added, cost-effective, and manage risk exposure.