Free IIA-CIA-Part3-3P Exam Braindumps certification guide Q&A
IIA-CIA-Part3-3P Certification Overview Latest IIA-CIA-Part3-3P PDF Dumps
Achieving the CIA certification is a significant accomplishment for internal auditors, as it demonstrates their commitment to continued education and professional development. It is also highly valued by employers, as it validates the candidate's expertise in the field of internal auditing. With the CIA certification, internal auditors can expect to earn higher salaries and have greater job opportunities.
NEW QUESTION # 126
In order to provide useful information for an organization's risk management decisions, which of the following factors is least important to assess?
- A. The potential for eliminating risk factors.
- B. The impact of the risk on the organization's objectives.
- C. The underlying causes of the risk.
- D. The risk levels of current and future events.
Answer: A
NEW QUESTION # 127
The internal audit activity completed an initial risk analysis of the organization's data storage center and found several areas of concern. Which of the following is the most appropriate next step?
- A. Identification of context.
- B. Risk identification.
- C. Risk assessment.
- D. Risk response.
Answer: C
NEW QUESTION # 128
Which of the following is a major advantage of decentralized organizations, compared to centralized organizations?
- A. Decentralized organizations tend to be less expensive to operate.
- B. Decentralized organizations tend to be more responsive to market changes.
- C. Decentralized organizations are more focused on organizational goals.
- D. Decentralized organizations streamline organizational structure.
Answer: B
NEW QUESTION # 129
According to IIA guidance on IT. which of the following would be considered a primary control for a spreadsheet to help ensure accurate financial reporting?
- A. The purpose and use of the spreadsheet are documented.
- B. Check-in and check-out software is used to control versions.
- C. The spreadsheet is stored on a network server that is backed up daily.
- D. Formulas and static data are locked or protected.
Answer: D
NEW QUESTION # 130
Which of the following best demonstrates an organization's ability to recover from a disaster?
- A. Redundant data center
- B. Regular testing of the disaster plan
- C. Hot site
- D. Cold site
Answer: C
NEW QUESTION # 131
Which of the following examples demonstrates that the internal audit activity uses descriptive analytics in its engagements?
- A. An internal auditor broke down a complex process into smaller pieces to make it more understandable.
- B. An internal auditor analyzed electricity production and sales interim reports and compiled a risk assessment.
- C. An internal auditor classified solar panel sales by region and discovered unsuccessful sales representatives.
- D. An internal auditor extracted sales data to a spreadsheet and applied judgmental analysis for sampling.
Answer: B
NEW QUESTION # 132
Which of the following statements is true regarding the "management-by-objectives" method?
- A. Management by objectives helps organizations to keep employees motivated.
- B. Management by objectives is most helpful in mechanistic organizations with rigidly defined tasks.
- C. Management by objectives is most helpful in organizations that nave rapid changes.
- D. Management by objectives helps organizations to distinguish clearly strategic goals from operational goals
Answer: A
NEW QUESTION # 133
An internal auditor is assigned to perform data analytics. Which of the following is the next step the auditor should undertake after she has ascertained the value expected from the review?
- A. identify the risks
- B. Obtain the data
- C. Analyze the data
- D. Normalize the data
Answer: C
NEW QUESTION # 134
The process of scenario planning begins with which of the following steps?
- A. Selecting leading indicators to alert the organization of future developments.
- B. Identifying how customers, suppliers, competitors, employees, and other stakeholders will react.
- C. Selecting the issue or decision that will impact how the organization conducts future business.
- D. Determining the trends that will influence key factors in the organization's environment.
Answer: C
NEW QUESTION # 135
Which of the following application controls, implemented by management, monitors data being processed to ensure the data remains consistent and accurate?
- A. Input controls.
- B. Integrity controls.
- C. Output controls.
- D. Management trail controls.
Answer: B
NEW QUESTION # 136
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. A higher cost per unit sold.
- B. A tougher collections policy that reduces the bad debt loss ratio.
- C. A longer average collection period.
- D. An increase in the cost of capital.
Answer: B
NEW QUESTION # 137
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. 12 percent.
- B. Less than 12 percent.
- C. More than 12.50 percent.
- D. Between 12.01 percent and 12.50 percent.
Answer: B
NEW QUESTION # 138
According to Porter, which of the following is associated with fragmented industries?
- A. Strong negotiation power with suppliers.
- B. Weak entrance barriers.
- C. Significant scale economies.
- D. Steep experience curve.
Answer: B
NEW QUESTION # 139
Which of the following statements is true regarding an organization's servers?
- A. Servers manage the interconnectivity of system hardware devices in the information system.
- B. Servers enforce access controls between networks transmitting data on the information system
- C. Servers manage the data stored in databases residing on the information system.
- D. Servers optimize data processing by sharing it with other computers on the information system
Answer: A
NEW QUESTION # 140
Which of the following are the most appropriate measures for evaluating the change in an organization's liquidity position?
- A. Accounts receivable turnover, inventory turnover in days, and the current ratio.
- B. Inventory turnover in days, the current ratio, and return on equity.
- C. Accounts receivable turnover, return on assets, and the current ratio.
- D. Times interest earned, return on assets, and inventory turnover.
Answer: A
NEW QUESTION # 141
During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of
$1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?
- A. $280,000
- B. $170,000
- C. $300,000
- D. $540,000
Answer: B
NEW QUESTION # 142
During a review of a web-based application used by customers to check the status of their bank accounts, it would be most important for the internal auditor to ensure that:
- A. Access to read application logs is restricted to authorized users.
- B. The web server used to host the application is located in a physically secure area.
- C. Account balance information is encrypted in the database.
- D. Sensitive data, such as account numbers, are submitted using encrypted communications.
Answer: D
NEW QUESTION # 143
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