Dumps Cafe IIA-IIA-CIA-Part3-3P

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CIA Exam Part Three:
Business Knowledge for
Internal Auditing
Version: Demo
[ Total Questions: 10]
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IIA
IIA-CIA-Part3-3P
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IIA - IIA-CIA-Part3-3PPass Exam
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Exam Topic Breakdown
Exam Topic Number of Questions
Topic 1 : Exam Pool A 5
Topic 2 : Exam Pool B 5
TOTAL 10
IIA - IIA-CIA-Part3-3PPass Exam
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A. 
B. 
C. 
D. 
A. 
B. 
C. 
D. 
A. 
B. 
Topic 1, Exam Pool A
Question #:1 - (Exam Topic 1)
Which of the following roles would be least appropriate for the internal audit activity to undertake with regard
to an organization's corporate social responsibility (CSR) program?
Consult on project design and implementation of the CSR program.
Serve as an advisor on internal controls related to CSR.
Identify and prioritize the CSR issues that are important to the organization.
Evaluate the effectiveness of the organization's CSR efforts.
Answer: C
Question #:2 - (Exam Topic 1)
According to IIA guidance, which of the following steps are most important for an internal auditor to perform
when evaluating an organization's social and environmental impact on the local community?
1) Determine whether previous incidents have been reported, managed, and resolved.
2) Determine whether a business contingency plan exists.
3) Determine the extent of transparency in reporting.
4) Determine whether a cost/benefit analysis was performed for all related projects.
1 and 3.
1 and 4.
2 and 3.
2 and 4.
Answer: A
Question #:3 - (Exam Topic 1)
Which of the following budgets must be prepared first?
Cash budget.
Production budget.
IIA - IIA-CIA-Part3-3PPass Exam
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C. 
D. 
A. 
B. 
C. 
D. 
A. 
B. 
C. 
D. 
Sales budget.
Selling and administrative expenses budget.
Answer: C
Question #:4 - (Exam Topic 1)
Which of the following are appropriate reasons for internal auditors to document processes as part of an audit
engagement?
1) To determine areas of primary concern.
2) To establish a standard format for process mapping.
3) To define areas of responsibility within the organization.
4) To assess the performance of employees.
1 and 2 only
1 and 3 only
2 and 3 only
2 and 4 only
Answer: B
Question #:5 - (Exam Topic 1)
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?
$170,000
$280,000
$300,000
$540,000
Answer: A
IIA - IIA-CIA-Part3-3PPass Exam
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A. 
B. 
C. 
D. 
A. 
B. 
C. 
D. 
A. 
B. 
C. 
D. 
Topic 2, Exam Pool B
Question #:6 - (Exam Topic 2)
A remote location contains a data center with hardware available to support critical production systems as
required in the recovery plan IT personnel periodically test and update systems at the data center. This is an
example of which of the following recovery solutions?
Cold recovery plan
Critical recovery plan
Warm recovery plan
Tested recovery plan
Answer: C
Question #:7 - (Exam Topic 2)
According to HA guidance or IT which of the following spreadsheets is most likely to be considered a
high-risk user-develop application?
A revenue calculation spreadsheet supported with price and volume reports from the production
department
An asset retirement calculation spreadsheet comprised of multiple formulas and assumptions
An ad-hoc inventory listing spreadsheet comprising details of written-off inventory quantitates
An accounts receivable reconciliation spreadsheet used by the accounting manager to verify balances.
Answer: B
Question #:8 - (Exam Topic 2)
Which of the following is an example of internal auditors applying data mining techniques for exploratory
purposes?
Internal auditors perform reconciliation procedures to support an external audit of financial reporting.
Internal auditors perform a systems-focused analysis to review relevant controls.
Internal auditors perform a risk assessment to identify potential audit subjects as input for the annual
internal audit plan.
Internal auditors test IT general controls with regard to operating effectiveness versus design.
IIA - IIA-CIA-Part3-3PPass Exam
5 of 5Verified Solution - 100% Result
A. 
B. 
C. 
D. 
A. 
B. 
C. 
D. 
Answer: B
Reference:
https://www.researchgate.net/publication/221174455_Data_Mining_Technique_in_the_Internal_Auditing_of_Enterprise_Groups
Question #:9 - (Exam Topic 2)
Which of the following is improved by the use of smart devices?
Version control
Privacy
Portability
Secure authentication
Answer: C
Question #:10 - (Exam Topic 2)
Which of the following statements is true regarding partnership liquidation?
Operations can continue after the liquidation if all partners agree
Partnership liquidation ends both the legal and economic life of an entity
Partnership liquidation occurs when there is capital deficiency Stable
When a partnership is liquidated, each partner pays creditors from cash received
Answer: B
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