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CRISC Test Bank 1 240 Questions and Answers (100% Pass)
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CRISC Test Bank 1 240 Questions and Answers (100% Pass)CRISC Test Bank 1 240 Questions and Answers (100% Pass) Q1 Which section of the Sarbanes-Oxley Act specifies "Periodic financial reports must be certified by CEO and CFO"? A. Section 302 B. Section 404 C. Section 203 D. Section 409 - Ans...

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  • August 18, 2024
  • 439
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • crisc test bank 1 240 questions and answers 100

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  • CRISC
  • CRISC

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©PREP4EXAMS 2024/2025 REAL EXAM DUMPS Tuesday, August 6, 2024 10,57 AM



CRISC Test Bank 1 240 Questions and Answers (100% Pass)


Q1

Which section of the Sarbanes-Oxley Act specifies "Periodic financial reports must

be certified by CEO and CFO"?




A. Section 302

B. Section 404

C. Section 203


D. Section 409 - Answer✔️✔️-Correct Answer: A


Section: Volume A

Explanation




1

,©PREP4EXAMS 2024/2025 REAL EXAM DUMPS Tuesday, August 6, 2024 10,57 AM




Section 302 of the Sarbanes-Oxley Act requires corporate responsibility for

financial reports to be certified by CEO, CFO, or designated representative.

Incorrect Answers:

B: Section 404 of the Sarbanes-Oxley Act states that annual assessments of internal

controls are the responsibility of management.

C: Section 203 of the Sarbanes-Oxley Act requires audit partners and review

partners to rotate off an assignment every five years.

D: Section 409 of the Sarbanes-Oxley Act states that the financial reports must be

distributed quickly and currently.

Q2

What is the PRIMARY need for effectively assessing controls?




A. Control's alignment with operating environment

B. Control's design effectiveness

C. Control's objective achievement



2

,©PREP4EXAMS 2024/2025 REAL EXAM DUMPS Tuesday, August 6, 2024 10,57 AM


D. Control's operating effectiveness - Answer✔️✔️-Correct Answer: C


Section: Volume A

Explanation




Controls can be effectively assessed only by determining how accurately the

control objective is achieved within the environment in which they are operating.

No conclusion can be reached as to the strength of the control until the control has

been adequately tested.

Incorrect Answers:

A: Alignment of control with the operating environment is essential but after the

control's accuracy in achieving objective. In other words, achieving objective is the

top most priority in assessing controls.

B: Control's design effectiveness is also considered but is latter considered after

achieving objectives.

D: Control's operating effectiveness is considered but after its accuracy in objective

achievement.




3

, ©PREP4EXAMS 2024/2025 REAL EXAM DUMPS Tuesday, August 6, 2024 10,57 AM


Q3

You work as the project manager for Bluewell Inc. There has been a delay in your

project work that is adversely affecting the project schedule. You decide, with your

stakeholders' approval, to fast track the project work to get the project done faster.

When you fast track the project, what is likely to increase?




A. Human resource needs

B. Quality control concerns

C. Costs


D. Risks - Answer✔️✔️-Correct Answer: D


Section: Volume A

Explanation




Fast tracking allows entire phases of the project to overlap and generally increases

risks within the project.




4

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