Free CRMA — Certification in Risk Management Assurance Exam Questions and Answers
The Certification in Risk Management Assurance is a single 120-question paper sat in 150 minutes, English only, scored on The IIA's 250-to-750 scale with 600 to pass. Two things about it are commonly got wrong. It no longer requires the CIA as a prerequisite — that rule was dropped after the April 2021 revision. And its syllabus is still built on the 2017 Standards rather than the Global Internal Audit Standards, with no update announced, so it is the one IIA exam the May 2025 rewrite did not touch. Candidates get two years to complete it, and it renews on annual CPE like every IIA credential.
The first 10 questions on this page are free to read, answers included — no account and no card. A plan opens the rest of the bank, the full timed practice test and your weak-topic reporting.
Last updated: September 16, 2026
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Question #1
1. What is the primary purpose of risk management?
Please select an optionIncorrectCorrect answer: A
Risk management aims to understand and manage risks, making informed decisions about how to proceed.
Was this answer correct?Question #2
2. Which of the following is a key component of an effective risk management framework?
Please select an optionIncorrectCorrect answer: A
Risk identification is crucial in an effective risk management framework as it forms the basis of assessing and managing risks.
Was this answer correct?Question #3
3. In the context of risk management, what does the term "residual risk" refer to?
Please select an optionIncorrectCorrect answer: C
Residual risk is the risk that remains after controls and mitigation measures are applied.
Was this answer correct?Question #4
4. When conducting a risk assessment, what should be the first step?
Please select an optionIncorrectCorrect answer: D
The first step in risk assessment is to identify the potential risks that could affect the organization.
Was this answer correct?Question #5
5. Which strategy is generally used to avoid risks?
Please select an optionIncorrectCorrect answer: A
Eliminate strategies involve completely removing the risk factor, thereby avoiding the risk entirely.
Was this answer correct?Question #6
6. Who is typically responsible for risk management in an organization?
Please select an optionIncorrectCorrect answer: D
Risk management is generally a collective responsibility that involves all employees at various levels within the organization.
Was this answer correct?Question #7
7. What does the COSO framework provide guidance on?
Please select an optionIncorrectCorrect answer: A
The COSO framework provides guidance on risk assessment and management among other internal control aspects.
Was this answer correct?Question #8
8. Which of the following is NOT a type of risk?
Please select an optionIncorrectCorrect answer: A
Emotional risk is not typically categorized as a formal type of risk in risk management frameworks.
Was this answer correct?Question #9
9. What is the purpose of conducting a risk analysis?
Please select an optionIncorrectCorrect answer: D
The purpose of a risk analysis is to evaluate the potential impact and likelihood of identified risks to prioritize response efforts.
Was this answer correct?Question #10
10. Which of the following methods can be used to transfer risk?
Please select an optionIncorrectCorrect answer: D
Insurance is a common method used to transfer the financial impact of risk to a third party.
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Other IIA certifications
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FAQ
Learn More: https://home.pearsonvue.com/Clients/Huawei.aspx
- Q1: What is the CRMA — Certification in Risk Management Assurance exam?
- A: CRMA — Certification in Risk Management Assurance is a IIA certification exam. Judging by the questions in our bank, it concentrates on risks and likelihood.
- Q2: How should I prepare for CRMA — Certification in Risk Management Assurance?
- A: Work through the CRMA — Certification in Risk Management Assurance practice questions here, checking your answer on each one, then sit the practice test to rehearse the exam under timed conditions before the real thing.
- Q3: Are these real CRMA — Certification in Risk Management Assurance exam questions?
- A: They are drawn from officially released past questions and from community members who have sat CRMA — Certification in Risk Management Assurance. Answers are verified and updated weekly.
- Q4: Where do I register for the CRMA — Certification in Risk Management Assurance exam?
- A: Register through IIA directly at https://home.pearsonvue.com/Clients/Huawei.aspx. Exampractice is not affiliated with IIA and does not administer the exam.
- Q5: Is there a free CRMA — Certification in Risk Management Assurance sample?
- A: Yes. Every CRMA — Certification in Risk Management Assurance page shows a free sample of real questions. Upgrading opens the full bank and the practice test.
- Q6: What are IIA Certification Exams?
- A: IIA (Institute of Internal Auditors) Certification Exams validate your expertise in internal auditing, risk management, governance, and control processes. These certifications demonstrate your proficiency in evaluating and improving the effectiveness of risk management, control, and governance processes within an organization.
- Q7: Why should I pursue IIA Certification?
- A: IIA Certification enhances your professional credibility, showcasing your skills and knowledge in internal auditing. This can lead to better job opportunities, higher salaries, and career advancement in auditing, compliance, and risk management roles.
- Q8: What are the benefits of IIA Certification?
- A: Benefits include recognition as a certified internal auditor, improved job performance, access to exclusive resources, continuing education opportunities, and staying current with the latest auditing practices and industry standards.
- Q9: Who should take IIA Certification Exams?
- A: Internal auditors, risk management professionals, compliance officers, and anyone involved in assessing and improving organizational processes should consider these certifications to validate their expertise and advance their careers.
- Q10: What types of IIA Certification Exams are available?
- A: IIA offers various certification paths, including:
- Q11: How do I prepare for IIA Certification Exams?
- A: Preparation can include official IIA study materials, preparatory courses, practice exams, online tutorials, and hands-on experience in internal auditing and risk management.
- Q12: Where can I take IIA Certification Exams?
- A: IIA Certification Exams can be taken at authorized Pearson VUE testing centers worldwide, providing flexibility to fit your schedule and location.
- Q13: How do IIA Certifications impact my career?
- A: IIA Certifications significantly boost your career by demonstrating your expertise to employers, making you a more competitive candidate for advanced roles and promotions in auditing, compliance, and risk management.
- Q14: Are there any prerequisites for IIA Certification Exams?
- A: Some exams may have prerequisites, such as educational qualifications or professional experience in internal auditing. Check the specific requirements for each certification path on the IIA website.
- Q15: How often do I need to recertify for IIA Certifications?
- A: IIA Certifications typically require continuing professional education (CPE) credits and recertification every three years to ensure that certified professionals stay updated with the latest auditing practices and industry standards.