Free IIA IIA-CGAP-INTL Exam Questions

Become IIA Certified with updated IIA-CGAP-INTL exam questions and correct answers

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Total 340 Questions | Updated On: Jan 09, 2025

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Question 1

The control environment sets the tone of an organization and influences the control consciousness of its employees. The characteristics of an effective control environment are all of the following EXCEPT:

A : nagement communicates the importance of internal controls to all employees.

B : ystem is in place to monitor controls on a regular basis

C : ployees are held accountable for their performance.

D : ployees don not have clearly defined responsibilities.

Answer: D

Question 2

Investment risk refers to the likelihood of a loss. All of the following given below are types of investment risk EXCEPT.

A : quidity risk — losses resulting because invested dollars cannot be accessed. Losses may occur from penalties for early withdrawal, for example.

B : onomic Risks – one of the most obvious risks of investing is that the economy can go bad

C : fault risk — the possibility of a loss resulting from the bankruptcy of an organization in which funds were invested.

D : Market risk — the possibility of a loss resulting from choosing a relatively poor investment from a large pool of investments.

Answer: B

Question 3

________ a cost-reimbursement contract that provides for payment to the contractor of a negotiated fee that is fixed at the inception of the contract. Where as ________ is a costreimbursement contract that provides for the initially negotiated fee to be adjusted later by a formula based on the relationship of total allowable costs to total target costs:

A : t sharing, cost-plus-incentive-fee

B : t-plus-fixed-fee is, cost-plus-incentive-fee

C : t-reimbursement, cost sharing

D : t-plus-incentive-fee, cost sharing

Answer: B

Question 4

Management controls are the plans, methods, and procedures adopted by management for measuring, reporting, and monitoring program performance. All of the following are objectives of management control EXCEPT:

A : lidity and reliability of data.

B : ntrolled operations

C : ogram operations

D : mpliance with laws and regulations

Answer: B

Question 5

All of the following are the components of the Professional Practices Framework which was approved by the IIAs Board of Directors in June 1999 EXCEPT:

A : finition of Internal Auditing and Standards

B : ndatory Guidance

C : Code of Ethics (See Section I.D) and Practice Advisories

D : velopment and Practice Aids

Answer: B

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Total 340 Questions | Updated On: Jan 09, 2025

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