IIA-CIA-Part3-3P Braindumps Real Exam Updated on Nov 01, 2023 with 487 Questions [Q115-Q137]

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IIA-CIA-Part3-3P Braindumps Real Exam Updated on Nov 01, 2023 with 487 Questions

Latest IIA-CIA-Part3-3P PDF Dumps & Real Tests Free Updated Today

IIA-CIA-Part3-3P exam, also known as the CIA Exam Part Three: Business Knowledge for Internal Auditing, is a certification exam offered by the Institute of Internal Auditors (IIA). IIA-CIA-Part3-3P exam is designed to test the candidate’s understanding of the business environment and risk management, as well as their ability to analyze financial statements and assess financial risks. Passing IIA-CIA-Part3-3P exam is a significant step towards becoming a Certified Internal Auditor (CIA), a globally recognized professional designation that demonstrates expertise in internal auditing.

NEW QUESTION 115
According to MA guidance, which of the following would indicate poor change management control?
1) Low change success rate
2) Occasional planned outages
3) Low number of emergency changes.
4) Instances of unauthorized changes

1 and 3

1 and 4

2 and 3

2 and 4

NEW QUESTION 116
Which of the following statements is true regarding outsourced business processes?

Outsourced business processes should not be considered in the internal audit universe because the controls are owned by the external service provider.

The system of internal controls may be better and more efficient when the business process is

The key controls of outsourced business processes typically are more difficult to audit because they are designed and managed externally.

Generally, independence is improved when the internal audit activity reviews outsourced business processes.

outsourced compared to internally sourced.

NEW QUESTION 117
With regard to project management when of the following statements about prefect crashing is true?

It leads to an increase in risk and often results in rework

It is an optimization technique where activities are performed in parallel rather than sequentially

It involves a revaluation of protect requirements and/or scope.

It is a compression technique in which resources are added to the protect

NEW QUESTION 118
Which of the following statements is true regarding user-developed applications (UDAs)?

Updating UDAs may lead to various errors resulting from changes or corrections.

UDAs typically are subjected to application development and change management controls.

UDAs are less flexible and more difficult to configure than traditional IT applications.

Using UDAs typically enhances the organization’s ability to comply with regulatory factors.

NEW QUESTION 119
Which of the following is a typical example of structured data?

Production information maintained in relational tables.

Tweets and posts of users on social media.

Photos and videos stored in hard drive catalogs.

Sales reports documented in word processing software.

NEW QUESTION 120
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?

Less than 12 percent.

12 percent.

Between 12.01 percent and 12.50 percent.

More than 12.50 percent.

NEW QUESTION 121
Presented below are partial year-end financial statement data (000 omitted from dollar amounts) for companies A and B:
If company A has a quick ratio of 2:1, then it has an accounts receivable balance of:

$100

$200

$300

$500

NEW QUESTION 122
A large hospital has an existing contract with a vendor in another country to provide software support and maintenance of the hospital’s patient records information system. From the hospital management’s perspective, which of the following controls would be most effective to address privacy risks related to this outsourcing arrangement?

Conduct periodic reviews of the privacy policy to ensure that the existing policy meets current legislation requirements in both regions.

Include a “right to audit” clause in the contract and impose detailed security obligations on the outsourced vendor

Implement mandatory privacy training for management to help with identifying privacy risks when outsourcing services

Develop an incident monitoring and response plan to track breaches from internal and external sources

NEW QUESTION 123
A retail organization mistakenly did not include S10.000 of inventory in the physical count at the end of the year. What was the impact to the organization’s financial statements?

Cost of sales and net income are understated

Cost of sales and net income are overstated

Cost of sales is understated and net income is overstated.

Cost of sales is overstated and net income is understated.

NEW QUESTION 124
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?

When a manufacturing organization has stable demand for its products.

When an organization is subjected to strong political and social pressures

When a manufacturer has reliable resources and suppliers

When an organization is infrequently affected by technological advances

NEW QUESTION 125
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 tougher collections policy that reduces the bad debt loss ratio.

A higher cost per unit sold.

A longer average collection period.

An increase in the cost of capital.

NEW QUESTION 126
Which of the following application controls can be defined as controls that monitor data Being processed and in storage to ensure it remains consistent and correct?

Input controls

Output controls

Integrity controls

Processing controls

NEW QUESTION 127
An internal auditor was asked to review an equal equity partnership In one sampled transaction Partner A transferred equipment into the partnership with a self-declared value of $10,000 and Partner B contributed equipment with a self-declared value of $15 000 The capital accounts of each partner were subsequently credited with S12,500. Which of the following statements is true regarding this transaction?

The capital accounts of the partners should be increased by the original cost of the contributed equipment.

The capital accounts should be increased using a weighted average based on the current percentage of ownership

No action is needed as the capital account of each partner was increased by the correct amount

The capital accounts of the partners should be increased by the fair market value of their contribution

NEW QUESTION 128
The management of working capital is most crucial for which of the following aspects of business?

Efficiency.

Liquidity.

Solvency.

Profitability.

NEW QUESTION 129
An internal auditor is reviewing results from software development integration testing. What is the purpose of integration testing?

To verify that the application meets staled user requirements.

To verify that standalone programs match code specifications.

To verify that me application would work appropriately for the intended number of users.

To verify that all software and hardware components work together as intended

NEW QUESTION 130
Which of the following statements is true regarding change management?

The degree of risk associated with a proposed change determines whether the change request requires authorization.

To protect the production environment, changes must be managed in a repeatable, defined, and predictable manner.

Changes are only required by software programs.

Program changes generally are developed and tested in the production environment.

Reference:
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NEW QUESTION 131
During which phase of disaster recovery planning should an organization identify the business units, assets, and systems that are critical to continuing an acceptable level of operations?

Scope and initiation phase.

Business impact analysis.

Plan development.

Testing.

NEW QUESTION 132
Which of the following is most important for an internal auditor to check with regard to the database version?

Verify whether the organization uses the most recent database software version

Verify whether the database software version is supported by the vendor.

Verify whether the database software version has been recently upgraded

Verify whether access to database version information is appropriately restricted

NEW QUESTION 133
Which of the following statements regarding organizational governance is not correct?

An effective internal audit function is one of the four cornerstones of good governance.

Those performing governance activities are accountable to the customer.

Accountability is one of the key elements of organizational governance.

Governance principles and the need for an internal audit function are applicable to governmental and not-for-profit activities.

NEW QUESTION 134
When assessing the adequacy of a risk mitigation strategy, an internal auditor should consider which of the following?
1) Management’s tolerance for specific risks.
2) The cost versus benefit of implementing a control.
3) Whether a control can mitigate multiple risks.
4) The ability to test the effectiveness of the control.

1, 2, and 3

1, 2, and 4

1, 3, and 4

2, 3, and 4

NEW QUESTION 135
Which of the following application controls, implemented by management, monitors data being processed to ensure the data remains consistent and accurate?

Integrity controls.

Output controls.

Management trail controls.

Input controls.

NEW QUESTION 136
Which of the following is a cybersecurity monitoring activity that involves assessing the strength of an organization’s IT protection?

Boundary defense

Malware defense

Penetration tests

Wireless access controls

NEW QUESTION 137
An internal auditor reviewed Finance Department records to obtain a list of current vendor addresses The auditor then compared the vendor addresses to a record of employee addresses maintained by the Payroll Department Which of the following types of data analysis did the auditor perform?

Duplicate testing.

Gap analysis

Classification

Joining data sources

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IIA-CIA-Part3-3P exam is a computer-based test and consists of 100 multiple-choice questions. Candidates have 2.5 hours to complete the exam, and the passing score is 600 out of 800. IIA-CIA-Part3-3P exam is available in several languages, including English, Spanish, French, Russian, and Chinese, among others.

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