CBA Information Technology Audits 2

Question 1

During an IT audit, an auditor finds that a bank's privileged user accounts are shared among multiple administrators. What is the PRIMARY concern?

Accepted Answer

Inability to establish individual accountability

Answer

Increased licensing costs

Answer

Slower system performance

Answer

Difficulty in password rotation

Question 2

Which framework is MOST commonly used by bank IT auditors to evaluate IT governance and management practices?

Accepted Answer

COBIT

Answer

ITIL

Answer

Six Sigma

Answer

PMBoK

Question 3

A bank's core banking system processes transactions without maintaining a complete audit log. Which risk does this PRIMARILY create?

Accepted Answer

Inability to detect and investigate unauthorized transactions

Answer

Increased system downtime

Answer

Higher storage costs

Answer

Slower transaction processing

Question 4

When auditing a bank's patch management process, what should an auditor verify FIRST?

Accepted Answer

The existence of a formal policy defining patch testing and deployment timelines

Answer

The cost of patch deployment tools

Answer

The number of IT staff responsible for patching

Answer

The vendor support contracts for all systems

Question 5

An IT auditor is reviewing a bank's data encryption practices. Which finding would be MOST critical to report?

Accepted Answer

Customer PII is transmitted over internal networks without encryption

Answer

Encryption keys are rotated annually instead of quarterly

Answer

Encryption documentation is stored in a shared drive

Answer

The encryption algorithm documentation is not updated

Question 6

During an IT audit, an auditor discovers that a bank's firewall rules have not been reviewed in 36 months. What is the PRIMARY risk?

Accepted Answer

Outdated rules may permit unauthorized access or retain unnecessary open ports

Answer

Increased firewall hardware costs

Answer

Slower network performance due to rule bloat

Answer

Difficulty obtaining firewall vendor support

Question 7

Which control BEST mitigates the risk of SQL injection attacks against a bank's web-based customer portal?

Accepted Answer

Using parameterized queries and input validation

Answer

Implementing multi-factor authentication

Answer

Increasing web server memory allocation

Answer

Requiring HTTPS for all connections