Accountant
Risk Management
Crash Course Quiz

CPA Risk Management Crash Course Quiz

Test Your Knowledge with Our Interactive Quiz!

As an accounting professional, how knowledgeable are you about risk management surrounding best practices for your staff and firm? 

TAKE QUIZ

Take our short quiz to test your knowledge of common accounting risk management best practices. For each question, there is only one correct answer. Once you have completed the quiz, you can review your results and learn more!

QUESTION 1

From a risk management perspective, what is the key component in the items for client follow-up section of a termination letter?
A reminder to the client of outstanding fees due to the CPA.

Forthcoming filing or other deadlines and the consequences if the client should miss the deadline(s).

The need to consult with a successor CPA.
All of the above 

QUESTION 2

__% of small companies close within 6 months of falling victim to a data breach or cyber attack?
30% 

10% 

60%
80%

QUESTION 3

In the past 20 years, employee lawsuits have increased approximately:
110%
60%
400%
200%

QUESTION 4

When should a CPA purchase tail coverage?
Retirement 
Buying and/or Selling a firm 
Retirement, Merging, and/or Selling a Firm 
Retirement, Buying a Firm, Merging, and/or Selling a Firm 

QUESTION 5

What’s the average cost of an Employee theft claim?
$300,000
 $130,000
$60,000
$500,000

0+

years of experience providing coverage solutions

0+

accounting firms served

 

 

0%

of AICPA's 400,000+ members insured

 

Robust Risk Resources

to promote professional knowledge and debunk misconceptions
Safeguard your career and help protect your firm. Test your knowledge today with our short quiz!

The amount of money and sensitive information accounting professionals work with allows them to be easy targets for cyber attacks and professional liability lawsuits. At AICPA Member Insurance Programs, we've designed specialized insurance designed for CPAs to fit your business and lifestyle. We are proud to be the only AICPA-endorsed insurance provider, covering over 23,000 CPA firms and 264,000 AICPA Members. 

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