Audit Testing and Sampling Methodologies AAIA Practice Questions (Page 2)

Questions 6–10

1. 6foundation · easy

   Which sample selection method involves selecting items without any structured technique, but with the intention of being representative?

   • AHaphazard selection
   • BSystematic selection
   • CRandom selection
   • DBlock selection
   Reveal Solution Discussion Select an answer first
2. 7foundation · easy

   In attribute sampling, what is the 'attribute' being tested?

   • AThe total number of items in the population
   • BThe monetary value of a transaction
   • CThe tolerable error rate
   • DA specific characteristic of interest, such as whether a control was performed
   Reveal Solution Discussion Select an answer first
4. 8foundation · easy

   What is a primary benefit of using data analytics tools for audit sampling?

   • AThey are only useful for non-statistical sampling
   • BThey can generate random samples and analyze large datasets efficiently
   • CThey guarantee that the sample is free from bias
   • DThey eliminate the need for professional judgment
   Reveal Solution Discussion Select an answer first
5. 9foundation · easy

   Which sample selection method is most appropriate when the population is ordered in a way that is not related to the characteristic being tested?

   • ABlock selection
   • BSystematic selection
   • CJudgmental selection
   • DHaphazard selection
   Reveal Solution Discussion Select an answer first
6. 10foundation · easy

   Which of the following is an example of non-sampling risk?

   • AThe sample size is too small to detect a material misstatement
   • BThe auditor selects a sample that is not representative of the population
   • CThe auditor misinterprets the results of a sample due to a lack of understanding of the control
   • DThe population contains more deviations than expected
   Reveal Solution Discussion Select an answer first