IIA-CIA-Part3-3P Actual Questions Answers PDF 100% Cover Real Exam Questions
IIA-CIA-Part3-3P Exam questions and answers
The CIA Exam Part Three: Business Knowledge for Internal Auditing is a comprehensive exam that covers a wide range of topics related to internal auditing. Some of the key areas covered in IIA-CIA-Part3-3P exam include business acumen, financial management, global business environments, information technology, and risk management. By passing IIA-CIA-Part3-3P exam, individuals can demonstrate their knowledge and understanding of these topics, which can be valuable in their careers as internal auditors.
IIA-CIA-Part3-3P (CIA Exam Part Three: Business Knowledge for Internal Auditing) Certification Exam is an important step in obtaining the Certified Internal Auditor designation. It tests a candidate’s knowledge and skills in essential areas of internal auditing and is highly respected by employers around the world. Passing the exam can lead to increased job opportunities, higher salaries, and professional recognition within the industry.
NEW QUESTION # 71
Which of the following is not a potential area of concern when an internal auditor places reliance on spreadsheets developed by users?
- A. Ability to meet user needs.
- B. Increasing complexity over time.
- C. Interface with corporate systems.
- D. Hidden data columns or worksheets.
Answer: A
NEW QUESTION # 72
The activity that involves a trial run of a product in a typical segment of the market before proceeding to a national launch is referred to as:
- A. Test marketing
- B. Experimentation
- C. Positioning
- D. Segmentation
Answer: A
NEW QUESTION # 73
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 # 74
According to IIA guidance on IT auditing, which of the following would not be an area examined by the internal audit activity?
- A. Change management.
- B. Access system security.
- C. Operations processes.
- D. Policy development.
Answer: D
NEW QUESTION # 75
Which of the following statements is true regarding outsourced business processes?
- A. Generally, independence is improved when the internal audit activity reviews outsourced business processes.
- B. The system of internal controls may be better and more efficient when the business process is outsourced compared to internally sourced.
- C. Outsourced business processes should not be considered in the internal audit universe because the controls are owned by the external service provider.
- D. The key controls of outsourced business processes typically are more difficult to audit because they are designed and managed externally.
Answer: B
NEW QUESTION # 76
Which of the following conflict resolution methods should be applied when the intention of the parties is to solve the problem by clarifying differences and attaining everyone's objectives?
- A. Collaborating.
- B. Accommodating.
- C. Compromising.
- D. Competing.
Answer: A
NEW QUESTION # 77
According to Porter, which of the following is associated with fragmented industries?
- A. Significant scale economies.
- B. Steep experience curve.
- C. Weak entrance barriers.
- D. Strong negotiation power with suppliers.
Answer: C
NEW QUESTION # 78
Where complex problems need to be addressed, which of the following communication networks would be most appropriate?
- A. All-channel.
- B. Chain.
- C. Wheel.
- D. Circle.
Answer: A
NEW QUESTION # 79
As it relates to the data analytics process, which of the following best describes the purpose of an internal auditor who cleaned and normalized data?
- A. The auditor made data usable for a specific purpose by ensuring that anomalies were identified and corrected.
- B. The auditor organized data to minimize useless information.
- C. The auditor eliminated duplicate information.
- D. The auditor ensured data fields were consistent and that data could be used for a specific purpose.
Answer: A
NEW QUESTION # 80
How do data analysis technologies affect internal audit testing?
- A. They allow greater insight into high risk areas.
- B. They increase the internal auditor's objectivity
- C. They reduce the overall scope of the audit engagement.
- D. They improve the effectiveness of spot check testing techniques
Answer: A
NEW QUESTION # 81
Which of the following is a characteristic of big data?
- A. Big data analytic results often need to be visualized.
- B. Big data is often generated slowly and is highly variable.
- C. Big data is often structured.
- D. Big data comes from internal sources kept in data warehouses.
Answer: B
NEW QUESTION # 82
A clothing company sells shirts for $8 per shirt. In order to break even, the company must sell 25,000 shirts. Actual sales total $300,000.
What is margin of safety sales for the company?
- A. $275,000
- B. $200,000
- C. $500,000
- D. $100,000
Answer: B
NEW QUESTION # 83
The main reason to establish internal controls in an organization is to:
- A. Encourage compliance with policies and procedures.
- B. Safeguard the resources of the organization.
- C. Ensure the accuracy, reliability, and timeliness of information.
- D. Provide reasonable assurance on the achievement of objectives.
Answer: D
NEW QUESTION # 84
Which of the following types of data analytics would be used by a hospital to determine which patients are likely to require readmittance for additional treatment?
- A. Diagnostic analytics
- B. Predictive analytics
- C. Prescriptive analytics
- D. Descriptive analytics
Answer: B
NEW QUESTION # 85
Which of the following statements is true regarding the resolution of interpersonal conflict?
- A. Timely and unambiguous clarification of roles and responsibilities will eliminate most interpersonal conflict.
- B. Reorganization would probably not help ambiguous or overlapping jurisdictions.
- C. Deferring action should be used until there is sufficient time to fully deal with the issue.
- D. Unrealized expectations can be avoided with open and honest discussion.
Answer: D
NEW QUESTION # 86
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