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IIA IIA-CRMA-ADV Exam Overview:

Certification Vendor:The Institute of Internal Auditors (IIA)
Exam Name:Certification in Risk Management Assurance (CRMA)
Exam Number:IIA-CRMA-ADV
Certificate Validity Period:Certification ongoing with annual CPE requirements
Exam Duration:150 minutes
Passing Score:Scaled score determined by IIA (official pass score not publicly published)
Real Exam Qty:120
Exam Price:$465 USD (Member), $610 USD (Non-Member)
Related Certifications:Certified Internal Auditor (CIA)
Internal Audit Practitioner (IAP)
Available Languages:English
Exam Format:Computer-based testing, Multiple Choice, Scenario/Advanced judgment items
Sample Questions:IIA IIA-CRMA-ADV Sample Questions
Exam Way:Computer-based in authorised Pearson VUE test centres worldwide (online proctoring discontinued by IIA).
Pre Condition:Candidates must apply and be accepted into the CRMA program; internal audit, risk management, or related experience required to complete certification and CPE for maintenance. Specific eligibility depends on education and experience level. Candidates have two years from acceptance to pass the exam and complete experience requirements. (See official IIA details.)
Official Syllabus URL:https://theiia.org/en/certifications/crma/

IIA IIA-CRMA-ADV Exam Syllabus Topics:

SectionWeightObjectives
Risk Management Governance25%- Risk management integration
  • 1. Examine integrated risk reporting effectiveness
  • 2. Analyze integration into objectives and strategy
  • 3. Evaluate management's commitment to risk management
- Governance, risk, and control frameworks
  • 1. Assess key elements of risk culture and oversight
  • 2. Assess application of risk and control frameworks
  • 3. Evaluate governance structure and risk management concepts
Internal Audit Roles and Responsibilities20%- Roles and competencies
  • 1. Evaluate internal audit independence
  • 2. Determine assurance and consulting services for risk management
  • 3. Assess required knowledge, skills, and competencies
- Coordination
  • 1. Recommend organisationwide risk management strategy
  • 2. Assist with internal risk assurance mapping
  • 3. Coordinate risk assurance efforts
Risk Management Assurance55%- Assurance processes
  • 1. Prioritize audit engagements based on risk assessment
  • 2. Evaluate design and application of risk identification and assessment
  • 3. Evaluate effectiveness of risk management at all levels
- Communication
  • 1. Evaluate responses to key organisational risks
  • 2. Manage audit communication and reporting
  • 3. Deliver communications on risk management effectiveness
- Risk management approach
  • 1. Evaluate approaches for assessing risk
  • 2. Select data analytics techniques for risk and assurance

IIA Certification in Risk Management Assurance Sample Questions:

1. Which of the following actions should the audit committee take to promote organizational independence for the internal audit activity?

A) Encourage the CAE to communicate and coordinate with the external auditor.
B) Assist the CAE with hiring objective and competent internal audit staff.
C) Delegate final approval of the risk-based internal audit plan to the chief audit executive (CAE).
D) Approve the annual budget and resource plan for the internal audit activity.


2. Which of the following is an activity that an internal auditor must not perform?

A) Provide assurance for the effectiveness of anti-money laundering training.
B) Survey employees for their understanding of anti-money laundering practices.
C) Assess the risk of being fined for ineffective anti-money laundering practices.
D) Establish and provide continuing assurance on an anti-money laundering program for new hires.


3. According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?

A) Financial accounting.
B) Ethics and fraud.
C) Negotiation and conflict resolution.
D) Project management.


4. An organization invests its savings in a volatile stock with the potential for high gains rather than a mutual fund with a lower expected return and lower volatility. This best describes which of the following risk concepts?

A) Risk capacity.
B) Risk appetite.
C) Risk tolerance.
D) Risk identification.


5. According to The IIA's Code of Ethics, which of the following is true?

A) Confidentiality requires that auditors disclose all material facts known to them.
B) Confidentiality requires that auditors be prudent in the use and protection of client information.
C) Integrity requires that auditors perform internal audit services in accordance with the Standards.
D) Objectivity requires that auditors perform their work with honesty, diligence, and responsibility.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: D
Question # 3
Answer: D
Question # 4
Answer: C
Question # 5
Answer: B

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