Deck 16: Professional Certifications and Career Planning

Question 1

Which certifications are most closely associated with the evaluation of accounting information systems?

A) CIA and CFE.
B) CFE and CMA.
C) CISA and CIA.
D) CFE and CISA

Answer 1

C

Question 2

Which of the following professional exams are given in an online format?

A) CMA and CFE.
B) CFE and CIA.
C) CIA and CISA.
D) CMA and CISA.

Answer 2

C

Question 3

A classified ad for an accounting position specifies "knowledge of relational databases" as a requirement. The ad may also ask the applicant to have which accounting certification: (i) CMA, (ii) CIA, (iii) CISA.

A) i or ii only.
B) ii or iii only.
C) i or iii only.
D) i or ii or iii.

Answer 3

D

Question 4

All of the following are sections of the CMA exam except:

A) Risk management.
B) Business analysis.
C) Business applications.
D) Strategic management.

Question 5

Professionals with a background in both accounting and information technology are most closely associated with which certification?

A) CMA.
B) CFE.
C) CIA.
D) CISA.

Question 6

Professionals with which certification earn the highest salaries in accounting?

A) CIA and CFE.
B) CFE and CISA.
C) CMA and CFE.
D) Cannot be determined from the information given.

Question 7

A professional accounting position requires extensive knowledge of interviewing techniques. Which certification is most appropriate for the position?

A) CMA.
B) CIA.
C) CISA.
D) CFE.

Question 8

Which of the following topics is tested most heavily on the CISA exam?

A) Protection of information assets.
B) Systems development life cycle.
C) Sarbanes-Oxley Act of 2002.
D) Enterprise risk management.

Question 9

Amendments to the US Constitution are most often tested in which section of the CFE exam?

A) Financial transactions.
B) Legal elements of fraud.
C) Criminology and ethics.
D) Constitutional law.

Question 10

Professionals with a background in both accounting and the law are most closely associated with which certification?

A) CIA.
B) CFE.
C) CISA.
D) CMA.

Question 11

In which section of the CMA exam would you expect to find multiple-choice questions on process costing?

A) Management accounting.
B) Business analysis.
C) Strategic management.
D) Business applications.

Question 12

In general, accounting certifications require all of the following except:

A) Education.
B) Experience.
C) Examination.
D) External auditing.

Question 13

A professional accounting position requires extensive knowledge of several budgeting methods. Which certification is most appropriate for the position?

A) CMA.
B) CIA.
C) CISA
D) CFE.

Question 14

Which certification requires the most professional experience?

A) CMA.
B) CFE.
C) CIA
D) CISA.

Question 15

The CIA exam tests which of the following areas: (i) business analysis and information technology, (ii) conducting the internal audit engagement.

A) i only.
B) ii only.
C) Both i and ii.
D) Neither i nor ii.

Question 16

All of the following are sections of the CISA exam except:

A) Forms of information technology.
B) Information technology governance.
C) Systems and infrastructure life cycle.
D) Protection of information assets.

Question 17

Other things being equal, a licensed certified public accountant can most easily pursue a career as a:

A) CIA.
B) CFE.
C) CISA.
D) CGFM.

Question 18

Which professional organization sponsors the CISA exam?

A) CISA Association.
B) Institute of Internal Auditors.
C) American Institute of CISAs.
D) Information Systems Audit and Control Association.

Question 19

Knowing ways to predict peoples' behavior with completely certainty is most important for: (i) CFEs, (ii) CIAs.

A) i only.
B) ii only.
C) Both i and ii.
D) Neither i nor ii.

Question 20

Which certification is based on a points system?

A) CMA.
B) CFE.
C) CIA.
D) CISA.

Question 21

Knowledge of the COSO frameworks discussed in the text would be important in: (i) the CMA exam, (ii) the CIA exam, (iii) the CISA exam.

A) i and ii only.
B) ii and iii only.
C) i and iii only.
D) i, ii and iii.

Question 22

A personal career mission statement is most closely associated with a corporation's:

A) Annual report.
B) Competitive advantage.
C) Budgeting process.
D) Organizational structure.

Question 23

Professional exam comparison
Several items describing various accounting professional exams are listed below. Place an "X" in the appropriate column(s) to indicate which exam is described.

Question 24

While in college, Billy accepted a full-time, ten-week position as an accounts payable clerk in a small corporation. His action is most closely associated with:

A) Practicing his interviewing skills.
B) Researching employment opportunities.
C) Obtaining sufficient experience to earn a CMA certificate.
D) Determining his career mission.

Question 25

Technical aspects of information technology, such as how to create normalized database tables, are least likely to be tested in the ___ exam.

A) CFE.
B) CISA.
C) CMA.
D) CIA.

Question 26

Which of the following is the strongest career mission statement?

A) My career mission is to earn the highest possible salary.
B) I want to work for a large CPA firm.
C) I want to work for a small, family-owned corporation.
D) My career goal is to assist others in financial planning for the future.

Question 27

Detailed knowledge of the Sarbanes-Oxley Act of 2002 is least important for professionals certified as:

A) CMAs.
B) CIAs.
C) CISAs.
D) CFEs.

Question 28

In a typical career search process, which of the following should occur first?

A) Earn a college degree.
B) Develop a resume.
C) Respond to position announcements.
D) Assess your interests and personal characteristics.

Question 29

Which of the following topics is unique to the CISA exam?

A) Relational database construction.
B) Systems development life cycle.
C) The accounting cycle.
D) Risk management.

Question 30

Which step in the career planning process should be completed without consulting others: (i) determining strengths, aptitudes and abilities, (ii) creating a career mission statement.

A) i only.
B) ii only.
C) Both i and ii.
D) Neither i nor ii.

Question 31

Researching employment opportunities should start:

A) The year you graduate from college.
B) As soon as possible after entering college.
C) After completing your first accounting course.
D) When you decide which certification to pursue.

Question 32

Which of the following best describes a major difference between the CMA and CFE exams?

A) The CMA exam incorporates case analyses.
B) The CFE exam includes multiple-choice questions.
C) The CMA exam is likely to include questions about the Sarbanes-Oxley Act of 2002.
D) The CMA exam is given online, while the CFE exam is given in person.

Question 33

CMA exam content: Fill in the blanks below according to the parts of the CMA exam.
a. ______ applications.
b. Business ______.
c. Management ______ and ______.
d. Strategic ______.

Question 34

Participating in practice interviews always assists directly in: (i) determining strengths, aptitudes and abilities, (ii) building a resume.

A) i only.
B) ii only.
C) Both i and ii.
D) Neither i nor ii.

Question 35

"I'm good at working with numbers" is an example of:

A) An aptitude.
B) A career mission statement.
C) A resume item.
D) A search criterion.

Question 36

Visiting the campus career center can assist in which steps of the career search process: (i) building the resume, (ii) practicing interviewing skills, (iii) creating a career mission statement.

A) i and ii only.
B) ii and iii only.
C) i and iii only.
D) i, ii and iii.

Question 37

The career planning process discussed in the text includes five steps, one of which is building a resume; several other steps are listed below. Which one is least likely to provide material for the resume?

A) Determining strengths, aptitudes and abilities.
B) Creating a career mission statement.
C) Researching employment opportunities.
D) Practicing interviewing skills.

Question 38

Which of the following is least likely to be helpful in developing a career mission statement?

A) Other students.
B) Professors.
C) Career center staff.
D) Internship supervisors.

Question 39

Leon's resume indicates that he is a "CSI." That code is most directly associated with which career planning step?

A) Determining strengths, aptitudes and abilities.
B) Developing a career mission statement.
C) Building a resume.
D) Conducting informational interviews

Question 40

Obtaining an accounting certification is most closely associated with which step in the career planning process?

A) Creating a mission statement.
B) Building a resume.
C) Researching employment opportunities.
D) Practicing interviewing skills.

Question 41

The following paragraph applies to Questions 61 - 65:
Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees.
The CMA exam is divided into four sections: business analysis, management accounting and reporting, strategic management and business applications. Choose one of the sections and write a question you'd expect to see in it. Then, answer the question you wrote.

Question 42

Career mission statements
Bumble Beasley wanted to create a career mission statement to guide his job search process. He developed the items below and has come to you for advice about how to improve them. Revise each phrase below to make it a stronger career mission statement.
a. To become certified as an accountant.
b. To have a job where I use Microsoft Access.
c. To obtain a position that doesn't require traveling.
d. To work for a Big 4 CPA firm.
e. To interact with friendly people.

Question 43

The following paragraph applies to Questions 61 - 65:
Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees.
Identify two professional certifications Janet and Irene can pursue once they have their accounting degrees. For each certification, list the sections of its professional examination.

Question 44

The following paragraph applies to Questions 61 - 65:
Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees.
Suppose you joined the conversation with Janet and Irene. Discuss your personal career plans and the steps you expect to take to achieve them.

Question 45

Careers and certifications
Several job descriptions appear below; in the space provided, indicate the most applicable certification from those discussed in the textbook.
______
a. Systems analyst. Develops and implements accounting information systems. Participates in the development of disaster recovery and business continuity plans.
______
b. Corporate budget analyst. Works with functional personnel to develop budgets and analyze variances.
______
c. Operations analyst. Examines internal controls and other procedures. Makes recommendations for improvement.
______
d. Forensic accountant. Reviews documents and conducts interviews to determine if deception has occurred.

Question 46

The following paragraph applies to Questions 61 - 65:
Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees.
Irene is pursuing a minor in information systems along with her accounting degree; she is considering studying to become CISA when she graduates. In your own words, explain the career options available to Irene if she becomes a CISA.

Question 47

The following paragraph applies to Questions 61 - 65:
Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees.
The textbook discussed four certifications for accountants: CIA, CMA, CISA and CFE. Without discussing the content of the certification exams, compare and contrast the types of jobs associated with each.

Question 48

AIS topics on professional exams
AIS topics are tested on every professional exam discussed in the text. Without using the same topic more than once, indicate two AIS topics tested on each exam listed below.