IIA-CIA-Part3-3P IIA CIA Exam Part Three: Business Knowledge for Internal Auditing exact Exam Questions

CIA Exam Part Three: Business Knowledge for Internal Auditing

Last Update 20 hours ago Total Questions : 488

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Question # 4

Senior management has decided to implement the Three Lines of Defense model for risk management. Which of the following best describes senior management's duties with regard to this model?

Ensure compliance with the model.

Identify management functions.

Identify emerging issues.

Set goals for implementation.

Question # 5

Which of the following is a limiting factor for capacity expansion?

Government pressure on organizations to increase or maintain employment.

Production orientation of management.

Lack of credible market leader in the industry.

Company diversification.

Question # 6

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.

Question # 7

An organization's balance sheet indicates that the total asset amount and the total capital stock amount remained unchanged from one year to the next, and no dividends were declared or paid. However, the organization reported a loss of $200,000. Which of the following describes the most likely year-over-year change to the organization's total liabilities and total stockholder equity?

The total liabilities and total stockholder equity both increased.

The total liabilities and total stockholder equity both decreased.

The total liabilities decreased, and the total stockholder equity increased.

The total liabilities increased, and the total stockholder equity decreased.

Question # 8

Organizations use matrix management to accomplish which of the following?

To improve the chain of command.

To strengthen corporate headquarters.

To focus better on a single market.

To increase lateral communication.

Question # 9

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:

Access to read application logs is restricted to authorized users.

Account balance information is encrypted in the database.

The web server used to host the application is located in a physically secure area.

Sensitive data, such as account numbers, are submitted using encrypted communications.