ARM 400 - Segment C - Chapters 7, 8, & 9 Exam |
Questions with 100% Correct Answers | Verified |
Latest Update 2026/2027
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Terms in this set (29)
A system or process an organization Internal Controls
uses to achieve its operational goals,
internal and external financial
reporting goals and legal and
regulatory compliance goals
The degree of importance a board Control Environment
of directors and management place
on their organization's internal
control system and their related
actions
A federal statutory law governing Sarbanes-Oxley Act of 2002
corporate directors in the areas of
investor protection, internal controls,
and penalties, both civil and criminal
A system of specified standards or Management Controls
objectives against which an
organization's management
measures performance
,Controls designed to prevent errors Preventive Controls
or inconsistencies
Controls designed to detect error or Detective Controls
inconsistencies after they have
occurred
A systematic investigation of records, Audit
documents, systems, and operations
A standard defining the attributes of Attribute Standard
organizations and individuals
performing internal auditing
A standard defining the nature of Performance Standard
internal auditing and providing
quality criteria against which the
performance of these services can
be measured.
, In accordance with the Three Lines B. Risk management supports and monitors
of Defense Model, how does risk operational management's implementation of risk
management act as the second line management practices.
of defense?
Select one:
A. Risk management provides
oversight to the operational
management's assessment of risk and
internal controls.
B. Risk management supports and
monitors operational management's
implementation of risk management
practices.
C. Risk management has authority to
initiate activity demanding an
external audit should a risk be
deemed imminent.
D. Risk management alerts internal
audit of potential threats within a
department and works with internal
audit to neutralize the threat.
Many banks are using technology to D. Artificial intelligence.
search for and detect cyber-security
threats locally and in the cloud. This
application of technology, in which
machines learn from humans,
illustrates the use of
Select one:
A. Data analytics.
B. Machine learning.
C. Risk management information
systems.
D. Artificial intelligence.
Questions with 100% Correct Answers | Verified |
Latest Update 2026/2027
Save
Terms in this set (29)
A system or process an organization Internal Controls
uses to achieve its operational goals,
internal and external financial
reporting goals and legal and
regulatory compliance goals
The degree of importance a board Control Environment
of directors and management place
on their organization's internal
control system and their related
actions
A federal statutory law governing Sarbanes-Oxley Act of 2002
corporate directors in the areas of
investor protection, internal controls,
and penalties, both civil and criminal
A system of specified standards or Management Controls
objectives against which an
organization's management
measures performance
,Controls designed to prevent errors Preventive Controls
or inconsistencies
Controls designed to detect error or Detective Controls
inconsistencies after they have
occurred
A systematic investigation of records, Audit
documents, systems, and operations
A standard defining the attributes of Attribute Standard
organizations and individuals
performing internal auditing
A standard defining the nature of Performance Standard
internal auditing and providing
quality criteria against which the
performance of these services can
be measured.
, In accordance with the Three Lines B. Risk management supports and monitors
of Defense Model, how does risk operational management's implementation of risk
management act as the second line management practices.
of defense?
Select one:
A. Risk management provides
oversight to the operational
management's assessment of risk and
internal controls.
B. Risk management supports and
monitors operational management's
implementation of risk management
practices.
C. Risk management has authority to
initiate activity demanding an
external audit should a risk be
deemed imminent.
D. Risk management alerts internal
audit of potential threats within a
department and works with internal
audit to neutralize the threat.
Many banks are using technology to D. Artificial intelligence.
search for and detect cyber-security
threats locally and in the cloud. This
application of technology, in which
machines learn from humans,
illustrates the use of
Select one:
A. Data analytics.
B. Machine learning.
C. Risk management information
systems.
D. Artificial intelligence.
