The Sarbanes Oxley exam takes the form of multiple choice, of which one of four choice answers is correct. Below are sample questions with answers:

Question 1. A Foreign Private Issuer (FPI) must meet the following condition:

Choice 1 - More than 50% of the outstanding voting securities of such issuer are held of record either directly or through voting trust certificates or depositary receipts by persons that are not residents of the United States

Choice 2 - The majority of the executive officers or directors are NOT United States citizens or residents

Choice 3 - More than 50 percent of the assets of the issuer are NOT located in the United States

Choice 4 - The business of the issuer is NOT administered principally in the United States

Question 2. What should companies include in the scope of their SOX initiative?

Choice 1 - A cold site

Choice 2 - A warm site

Choice 3 - A hot site

Choice 4 - Data backup and off-site storage

Question 3. Many companies use spreadsheets for their financial reporting and operational processes. Which of the following is not correct?

Choice 1 - Complex spreadsheets must be considered applications

Choice 2 - A Software Development Life Cycle is necessary to the development process of critical and complex spreadsheets

Choice 3 - A process for requesting changes to a spreadsheet, making changes and then testing the changes is necessary

Choice 4 - All the spreadsheets fall into the scope of SOX

Question 4. According to Internal Control Integrated Framework (COSO Committee, 1992), what internal controls can not do?

Choice 1 - Can help ensure that the enterprise complies with laws and regulations

Choice 2 - Can ensure the success of the entity

Choice 3 - Can help an entity achieve its performance and profitability targets, and prevent loss of resources

Choice 4 - Can help ensure reliable financial reporting

Question 5. Which of the following is not correct?

Choice 1 - ITIL focuses on best practice definitions and criteria for service management

Choice 2 - COBIT focuses on the definition, implementation, auditing, measurement and improvement of controls for specific processes that span the entire IT implementation life cycle

Choice 3 - COBIT and ITIL are competitive, not complementary

Choice 4 - ITIL primarily focuses on two key categories: 1. Service Support Management and 2. Service Delivery Management

 

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