ARM 400 EXAM QUESTIONS AND ANSWERS
Correct
Incorrect
Your answers
1 of 50
Term
Which one of the following continuity strategy models involves
maintaining two or more active sites that are geographically dispersed?
Give this one a try later!
Active back-up model Prioritization model
Risk transfer model Split operations model
Don't know?
2 of 50
Term
,Developing a risk-based audit plan requires a risk assessment. Under
the model of the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) Internal Control—Integrated
Framework, which one of the following explains how risk assessment is
addressed?
Give this one a try later!
It involves identifying and analyzing material risks to the achievement of the
organization's objectives and then determining how the risks should be managed.
The selected method does not align with the Committee of Sponsoring
Organizations of the Treadway Commission's (COSO) Internal Control—Integrated
Framework because it must also be applied at the operating unit and functional
levels and it must be monitored.
It expands the risk assessment concept by identifying five interrelated
components of internal control.
It expands the risk assessment concept by comparing it to competitor audits.
Don't know?
3 of 50
Term
The Breakfast Restaurant that serves breakfast and lunch. It has two
locations in New Orleans. One weekend, the head cook and two
,servers at one location called out sick for work. While the manager and
other employees worked hard to keep the restaurant running on
Saturday, they were not successful. The same thing happened on
Sunday, and the customers were very unhappy. Almost immediately,
customer complaints about long waits, poor service, and food quality
started appearing on social media. The employees returned to work
on Monday, but both locations saw business drop off over the
following weeks. The Breakfast Restaurant could have managed this
reputational risk better by doing which one of the following?
Give this one a try later!
The communication must address the level of technical, legal or financial
understanding of the audience for the message to be received.
The Breakfast Restaurant could have better managed the reputational risk by
quickly recognizing the risk on Saturday and rapidly making decisions to get
other employees in for Sunday.
They often report to an executive-level officer, facilitate risk discussions, compile
risk information, and develop and support enterprise risk management processes.
The internal auditor must adopt a stakeholder orientation by anticipating,
monitoring and assessing business and operational risk.
Don't know?
4 of 50
, Term
Which one of the following bases of organizational culture are
exhibited through the organization's goals and the manner in which it
pursues its goals?
Give this one a try later!
Customs Wants
Attitudes Values
Don't know?
5 of 50
Term
Which one of the following statements is correct regarding the
personal data and privacy positions of the European Union (EU) and
the U.S.?
Give this one a try later!
Correct
Incorrect
Your answers
1 of 50
Term
Which one of the following continuity strategy models involves
maintaining two or more active sites that are geographically dispersed?
Give this one a try later!
Active back-up model Prioritization model
Risk transfer model Split operations model
Don't know?
2 of 50
Term
,Developing a risk-based audit plan requires a risk assessment. Under
the model of the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) Internal Control—Integrated
Framework, which one of the following explains how risk assessment is
addressed?
Give this one a try later!
It involves identifying and analyzing material risks to the achievement of the
organization's objectives and then determining how the risks should be managed.
The selected method does not align with the Committee of Sponsoring
Organizations of the Treadway Commission's (COSO) Internal Control—Integrated
Framework because it must also be applied at the operating unit and functional
levels and it must be monitored.
It expands the risk assessment concept by identifying five interrelated
components of internal control.
It expands the risk assessment concept by comparing it to competitor audits.
Don't know?
3 of 50
Term
The Breakfast Restaurant that serves breakfast and lunch. It has two
locations in New Orleans. One weekend, the head cook and two
,servers at one location called out sick for work. While the manager and
other employees worked hard to keep the restaurant running on
Saturday, they were not successful. The same thing happened on
Sunday, and the customers were very unhappy. Almost immediately,
customer complaints about long waits, poor service, and food quality
started appearing on social media. The employees returned to work
on Monday, but both locations saw business drop off over the
following weeks. The Breakfast Restaurant could have managed this
reputational risk better by doing which one of the following?
Give this one a try later!
The communication must address the level of technical, legal or financial
understanding of the audience for the message to be received.
The Breakfast Restaurant could have better managed the reputational risk by
quickly recognizing the risk on Saturday and rapidly making decisions to get
other employees in for Sunday.
They often report to an executive-level officer, facilitate risk discussions, compile
risk information, and develop and support enterprise risk management processes.
The internal auditor must adopt a stakeholder orientation by anticipating,
monitoring and assessing business and operational risk.
Don't know?
4 of 50
, Term
Which one of the following bases of organizational culture are
exhibited through the organization's goals and the manner in which it
pursues its goals?
Give this one a try later!
Customs Wants
Attitudes Values
Don't know?
5 of 50
Term
Which one of the following statements is correct regarding the
personal data and privacy positions of the European Union (EU) and
the U.S.?
Give this one a try later!
