Updated Jan-2024 100% Cover Real IIA-CIA-Part3 Exam Questions Make Sure You 100% Pass [Q134-Q148]

Rate this post

Updated Jan-2024 100% Cover Real IIA-CIA-Part3 Exam Questions Make Sure You 100% Pass

IIA-CIA-Part3 dumps Accurate Questions and Answers with Free and Fast Updates

IIA-CIA-Part3 exam is a computer-based test that consists of 100 multiple-choice questions. Candidates have 2.5 hours to complete the exam, and they must score at least 600 out of 800 to pass. IIA-CIA-Part3 exam is offered at Pearson VUE testing centers around the world and can be taken in English, Spanish, Portuguese, or Chinese.

IIA-CIA-Part3 (Business Knowledge for Internal Auditing) Certification Exam is designed to test the knowledge and skills of internal auditors in the areas of business acumen and understanding of the organization’s operations. Business Knowledge for Internal Auditing certification is offered by the Institute of Internal Auditors (IIA), a global organization that provides professional development and certification for internal auditors.

NEW QUESTION 134
Which of the following measures the operating success of a company for a given period of time?

Liquidity ratios.

Profitability ratios.

Solvency ratios.

Current ratios.

NEW QUESTION 135
Which one of the following examples of corporate behavior would most clearly represent a
violation of antitrust law?

A retailer offers quantity discounts to large institutional buyers.

The members of a labor union meet and agree not to work for a specific entity unless the starting wage is at least a specified amount per hour.

Two entities that are in different, unrelated industries merge.

Two entities in the same industry agree in a telephone conversation to submit identical bids on a government contract.

Antitrust law addresses restraints of trade. Some types of arrangements are considered automatic violations. These violations may include price fixing, division of markets, group boycotts, and resale price maintenance. Agreeing to submit identical bids on a government contract is a form of price fixing.

NEW QUESTION 136
A master budget:

Shows forecasted and actual results.

Contains only controllable costs.

Can be used to determine manufacturing cost variances.

Contains the operating budget.

The operating budget sequence is part of the master budget process that begins with the sales budget and culminates in the pro forma income statement.

NEW QUESTION 137
Which of the following statements is true regarding the risks associated with the increased use of smart devices at work?

Due to their small size and portability smart devices and their associated data are typically less susceptible to physical loss

The Bluetooth and WI-FI features of smart devices enhance the security of data while in transit

The global positioning system (GPS) capability of smart devices could be exploited to plan cyberattacks

When the user fads to perform jailbreaking or rooting, data security and privacy risks we increased

NEW QUESTION 138
Entity A acquires entity B for US $1.000.000. At the time of the acquisition the net fair value of the identifiable assets, liabilities, and contingent liabilities recognized had a carrying amount of US $900,000 and a fair value of US $800,000. The amount of goodwill entity A will record on the acquisition date is

US $0

US $100,000

US $200,000

US $300,000

Goodwill equals the excess of the acquisition cost over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized. Consequently goodwill is US $200.000$1,000,000 – $800,000).

NEW QUESTION 139
A brand manager in a consumer food products organization suspected that several days of the point-of-sale data on the spreadsheet from one grocery chain were missing. The best approach for detecting missing rows in spreadsheet data would be to:

Sort on product identification code and identify missing product identification codes.

Review store identification code and identify missing product identification codes.

Compare product identification codes for consecutive periods.

Compare product identification codes by store for consecutive periods.

NEW QUESTION 140
The best approach for minimizing the likelihood of software incompatibilities leading to unintelligible messages is for a company and its customers to:

Acquire their software from the same software vendor.

Agree to synchronize their updating of EDI-related software.

Agree to use the same software in the same ways indefinitely.

Each write their own version of the EDI-related software.

EDI entails the exchange of common business data converted into standard message formats. Thus, two crucial requirements are that the participants agree on transaction formats and that translation software be developed to convert messages into a form understandable by other companies. Thus, if one company changes its software, its trading partners must also do so.

NEW QUESTION 141
The order costs associated with inventory management include:

Insurance costs, purchasing costs, shipping costs, and obsolescence.

Obsolescence, setup costs, quantity discounts lost, and storage costs.

Quantity discounts lost, storage costs, handling costs, and interest on capital invested.

Purchasing costs, shipping costs, setup costs, and quantity discounts lost.

Order costs include purchasing costs, shipping costs, setup costs for a production run, and quantity discounts lost.

NEW QUESTION 142
Which of the following is a security feature that involves the use of hardware and software to fitter or prevent specific information from moving between the outside network and the outside network?

Authorization

Architecture model

Firewall

Virtual private network

NEW QUESTION 143
Conformance is how well a product and its components meet applicable standards.
According to the robust quality concept,

A certain percentage of defective units is acceptable.

Units are acceptable if their characteristics lie within an acceptable range of values.

The goal is for all units to be within specifications.

Every unit should reach a target value.

Conformance is how well a product and its components meet applicable standards. The traditional view is that conforming products are those with characteristics that lie within an acceptable specified range of values that includes a target value. This view also regarded a certain percentage of defective nonconforming) units as acceptable. The traditional view was superseded by the zero-defects approach that sought to eliminate all nonconforming output.
An extension of this approach is the robust quality concept. Its goal is to reach the target value in every case. The reason is that hidden quality costs occur when output varies from the target even though the units are within specifications.

NEW QUESTION 144
Which of the following “families” of controls is not described in The IIA’s Global Technology Audit Guide (GTAG) 1, titled information Technology Controls?

Governance, management, and technical controls.

Preventive, detective, and corrective controls.

Feedback, concurrent, and feedforward controls.

IT general and application controls.

Feedback, concurrent, and feed forward controls are not referenced in GTAG 1.

NEW QUESTION 145
Which of the following engagement observations would provide the least motivation for management to amend or replace an existing cost accounting system?

The distorted unit cost of a service is 50 percent lower than the true cost, while the true cost is 50 percent higher than the competition’s cost.

The organization is losing $1,000,000 annually because it incorrectly outsourced an operation based on information from its current system.

The cost of rework, hidden by the current system, is 50 percent of the total cost of all services.

50 percent of total organizational cost has been allocated on a volume basis.

NEW QUESTION 146
Which of the following is a strategy that organizations can use to stimulate innovation?
1.Source from the most advanced suppliers.
2.Establish employee programs that reward initiative.
3.Identify best practice competitors as motivators.
4.Ensure that performance targets are always achieved.

1 and 3 only

2 and 4 only

1, 2, and 3 only

1, 2, 3, and 4

NEW QUESTION 147
How is the letter x in the standard regression equation best described?

Independent variable.

Dependent variable.

Y intercept.

Coefficient of determination.

The letter x in the standard regression equation is the independent variable. For example, in a regression to determine the total cost of production, x equals units produced.

NEW QUESTION 148
Which of the following statements describes an internal control questionnaire?

Provides detailed evidence regarding the substance of the control system.

Takes less of the engagement client’s time to complete than other control evaluation devices.

Requires that the internal auditor be in attendance to properly administer it.

Provides indirect evidence that might need corroboration.

An internal control quest consists re consists of a series of questions about the controls designed to prevent or detect errors or irregularities lies. Answers to the questions help the internal auditor to identify specific internal control policies and procedures relevant to specific assertions and to design tests of controls to evaluate the effectiveness of their design and operation. The questionnaire provides a framework to assure that specific concerns are not overlooked. but it is not a sufficient means of understanding the entire system. Thus, the evidence obtained is indirect and requires corroboration by means of observation. interviews, flowcharting. examination of documents, etc.

Loading …

Real IIA-CIA-Part3 Quesions Pass Certification Exams Easily: https://www.examcollectionpass.com/IIA/IIA-CIA-Part3-practice-exam-dumps.html

Leave a Reply Cancel reply