IIA IIA-CIA-Part3-3P CIA Exam Part Three: Business Knowledge for Internal Auditing Online Training
IIA IIA-CIA-Part3-3P Online Training
The questions for IIA-CIA-Part3-3P were last updated at Jan 20,2025.
- Exam Code: IIA-CIA-Part3-3P
- Exam Name: CIA Exam Part Three: Business Knowledge for Internal Auditing
- Certification Provider: IIA
- Latest update: Jan 20,2025
Which of the following does not provide operational assurance that a computer system is operating properly?
- A . Performing a system audit.
- B . Making system changes.
- C . Testing policy compliance.
- D . Conducting system monitoring.
According to IIA guidance, which of the following corporate social responsibility (CSR) activities is appropriate for the internal audit activity to perform?
- A . Determine the optimal amount of resources for the organization to invest in CSR.
- B . Align CSR program objectives with the organization’s strategic plan.
- C . Integrate CSR activities into the organization’s decision-making process.
- D . Determine whether the organization has an appropriate policy governing its CSR activities.
Which of the following statements about matrix organizations is false?
- A . In a matrix organization, conflict between functional and product managers may arise.
- B . In a matrix organization, staff under dual command is more likely to suffer stress at work.
- C . Matrix organizations offer the advantage of greater flexibility.
- D . Matrix organizations minimize costs and simplify communication.
A company’s financial balance sheet is presented below:
The company has net working capital of:
- A . $160
- B . $210
- C . $350
- D . $490
An organization produces two products, X and Y. The materials used for the production of both products are limited to 500 kilograms (kg) per month.
All other resources are unlimited and their costs are fixed. Individual product details are as follows:
Product X
Product Y
Selling price per unit
$10
$13
Materials per unit (at $1/kg)
2 kg
6 kg
Monthly demand
100 units
120 units
In order to maximize profit, how much of product Y should the organization produce each month?
- A . 50 units.
- B . 60 units.
- C . 100 units.
- D . 120 units.
Which of the following must be adjusted to index a progressive tax system to inflation?
- A . Tax deductions, exemptions, and tax filings.
- B . Tax deductions, exemptions, and tax brackets.
- C . Tax brackets, tax deductions, and tax payments.
- D . Tax brackets, exemptions, and nominal tax receipts.
Which of the following are appropriate functions for an IT steering committee?
1) Assess the technical adequacy of standards for systems design and programming.
2) Continually monitor of the adequacy and accuracy of software and hardware in use.
3) Assess the effects of new technology on the organization`s IT operations.
4) Provide broad oversight of implementation, training, and operation of new systems.
- A . 1, 2, and 3
- B . 1, 2, and 4
- C . 1, 3, and 4
- D . 2, 3, and 4
Import quotas that limit the quantities of goods that a domestic subsidiary can buy from its foreign parent company represent which type of barrier to the parent company?
- A . Political.
- B . Financial.
- C . Social.
- D . Tariff.
Which of the following statements is true regarding outsourced business processes?
- A . Outsourced business processes should not be considered in the internal audit universe because the controls are owned by the external service provider.
- B . Generally, independence is improved when the internal audit activity reviews outsourced business processes.
- C . The key controls of outsourced business processes typically are more difficult to audit because they are designed and managed externally.
- D . The system of internal controls may be better and more efficient when the business process is outsourced compared to internally sourced.
Which of the following is the best approach to overcome entry barriers into a new business?
- A . Offer a standard product that is targeted in the recognized market.
- B . Invest in commodity or commodity-like product businesses.
- C . Enter into a slow-growing market.
- D . Use an established distribution relationship.
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