Enhance your career with IIA-CIA-Part3-3P PDF Dumps - True IIA Exam Questions
New (2022) Download free IIA-CIA-Part3-3P PDF for IIA Practice Tests
IIA IIA-CIA-Part3-3P Exam Syllabus Topics:
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NEW QUESTION 208
According to HA guidance or IT which of the following spreadsheets is most likely to be considered a high-risk user-develop application?
- A. An ad-hoc inventory listing spreadsheet comprising details of written-off inventory quantitates
- B. An accounts receivable reconciliation spreadsheet used by the accounting manager to verify balances.
- C. A revenue calculation spreadsheet supported with price and volume reports from the production department
- D. An asset retirement calculation spreadsheet comprised of multiple formulas and assumptions
Answer: D
NEW QUESTION 209
An internal auditor performed a review of IT outsourcing and found that the service provider was failing to meet the terms of the service level agreement. Which of the following approaches is most appropriate to address this concern?
- A. The organization should proactively monitor the performance of the service provider, escalate concerns, and use penalty clauses in the contract where necessary.
- B. The organization should review the skill requirements and ensure that the service provider is maintaining sufficient expertise and retaining skilled resources.
- C. The organization should ensure that there is a clear management communication strategy and path for evaluating and reporting on all outsourced services concerns.
- D. The organization should work with the service provider to review the current agreement and expectations relating to objectives, processes, and overall performance.
Answer: A
NEW QUESTION 210
in which of the following technical infrastructure audits should attention be turned to physical security and environmental controls?
- A. Operating systems review
- B. Network configuration review
- C. Database review
- D. Data center review
Answer: D
NEW QUESTION 211
Which of the following is a project planning methodology that involves a complex series ot required simulations to provide information about schedule risk?
- A. Earned Value Management (EVM).
- B. Project Management Information System (PMIS)
- C. Monte Carlo Analysis
- D. E
- E. Integrated Project Plan A
Answer: D
NEW QUESTION 212
Which of the following are typical audit considerations for a review of authentication?
1) Authentication policies and evaluation of controls transactions.
2) Management of passwords, independent reconciliation, and audit trail.
3) Control self-assessment tools used by management.
4) Independent verification of data integrity and accuracy.
- A. 1, 2, and 4
- B. 1, 3, and 4
- C. 1, 2, and 3
- D. 2, 3, and 4
Answer: C
NEW QUESTION 213
Which of the following would not impair the objectivity of internal auditor?
- A. Implementing risk responses on behalf of management.
- B. Management assurance on risks.
- C. Providing assurance that risks assessed are correctly evaluated.
- D. Setting the risk appetite.
Answer: C
NEW QUESTION 214
An organization with an annual demand of 25.000 units correctly computes its economic order quantity to be
1,000 units Its safety stock is 300 units and the lead time is two days If there are 250 production days in a year what is the reorder point1?
- A. 500 units.
- B. 1,000 units.
- C. 200 units.
- D. 300 units.
Answer: A
NEW QUESTION 215
Which of the following is most important for an internal auditor to check with regard to the database version?
- A. Verify whether the database software version has been recently upgraded
- B. Verify whether the organization uses the most recent database software version
- C. Verify whether access to database version information is appropriately restricted
- D. Verify whether the database software version is supported by the vendor.
Answer: C
NEW QUESTION 216
Which of the following is a project planning methodology that involves a complex series ot required simulations to provide information about schedule risk?
- A. Earned Value Management (EVM).
- B. Integrated Project Plan A
- C. Project Management Information System (PMIS)
- D. Monte Carlo Analysis
Answer: B
NEW QUESTION 217
Which of the following describes a typical desktop workstation used by most employees in their daily work?
- A. Workstation contains software that manages user's access and processing of stored data on the organization's network.
- B. Workstation contains software that enables the processing of transactions and is not shared among users of the organization's network.
- C. Workstation contains software that prevents unauthorized transmission of information into and out of the organization's network.
- D. Workstation contains software that controls information flow between the organization's network and the Internet.
Answer: B
NEW QUESTION 218
Which of the following statements is true regarding cost-volume-profit analysis?
- A. Breakeven occurs when the contribution margin covers fixed costs
- B. Contribution margin is the amount remaining from sales revenue after fixed expenses have been deducted.
- C. Following breakeven, net operating income will increase by the excess of fixed costs less the variable costs per units sold
- D. Breakeven point is the amount of units sold to cover variable costs.
Answer: A
NEW QUESTION 219
A restaurant deeded to expand its business to include delivery services rather than relying on third-party food delivery services. Which of the following best describes the restaurant's strategy?
- A. Differentiation
- B. Vertical integration
- C. Risk avoidance
- D. Diversification
Answer: B
NEW QUESTION 220
Organization X owns a 38 percent equity stake in Organization Y.
Which of the following statements is true regarding the financial treatment for this relationship?
- A. Y should be reported as a footnote to X's financial statements
- B. Y should be listed as an investment asset on X's balance sheet
- C. X must consolidate the financial statements for both organizations
- D. Y should not be reported by X as X does not have a controlling interest
Answer: B
NEW QUESTION 221
Which of the following is a disadvantage in a centralized organizational structure?
- A. Loss of economies of scale
- B. Vulnerabilities in sharing knowledge
- C. Slower decision making
- D. Communication conflicts.
Answer: C
NEW QUESTION 222
In an analysis of alternative credit-management policies, which of the following components will cause the net present value of receivables on credit sales to increase, if everything else remains constant?
- A. An increase in the cost of capital.
- B. A higher cost per unit sold.
- C. A longer average collection period.
- D. A tougher collections policy that reduces the bad debt loss ratio.
Answer: D
NEW QUESTION 223
Which of the following statements regarding program change management is not correct?
- A. In order to protect the production environment, changes must be managed in a repeatable, defined, and predictable manner.
- B. The goal of the change management process is to sustain and improve organizational operations.
- C. The degree of risk associated with a proposed change determines if the change request requires authorization.
- D. All changes should be tested in a non-production environment before migrating to the production environment.
Answer: C
NEW QUESTION 224
Which of the following is an example of a nonfinancial internal failure quality cost?
- A. Foregone contribution margin on lost sales.
- B. Decreasing gross profit margins over time.
- C. Defective units shipped to customers.
- D. Excessive time to convert raw materials into finished goods.
Answer: D
NEW QUESTION 225
An organization has recorded the following profit and expenses:
Profit before interest and tax
$200,000
Sales
$2,300,000
Purchases of materials
$700,000
Interest expenses
$30,000
If the value-added tax (VAT) rate is 20 percent and the corporate tax rate is 30 percent, which of the following is the amount of VAT that the organization has to pay?
- A. $51,000
- B. $60,000
- C. $34,000
- D. $320,000
Answer: D
NEW QUESTION 226
Organizations mat adopt just-in-time purchasing systems often experience which of the following?
- A. A greater need for inspection of goods as the goods arrive.
- B. A slight increase in carrying costs.
- C. An increase in the number of suitable suppliers
- D. A greater need for linkage with a vendor s computerized order entry system.
Answer: D
NEW QUESTION 227
A bond that matures after one year has a face value of $250,000 and a coupon of $30,000. If the market price of the bond is $265,000, which of the following would be the market interest rate?
- A. More than 12.50 percent.
- B. Less than 12 percent.
- C. Between 12.01 percent and 12.50 percent.
- D. 12 percent.
Answer: B
NEW QUESTION 228
An organization produces two products, X and Y.
The materials used for the production of both products are limited to 500 kilograms (kg) per month. All other resources are unlimited and their costs are fixed. Individual product details are as follows:
Product X
Product Y
Selling price per unit
$10
$13
Materials per unit (at $1/kg)
2 kg
6 kg
Monthly demand
100 units
120 units
In order to maximize profit, how much of product Y should the organization produce each month?
- A. 100 units.
- B. 60 units.
- C. 50 units.
- D. 120 units.
Answer: C
NEW QUESTION 229
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