IIA-CHAL-QISA by IIA Actual Free Exam Questions And Answers

Question 1

An investor has acquired an organization that has a dominant position in a mature, slow-growth industry and consistently creates positive financial income Which of the following terms would the investor most likely label this investment in her portfolio?

A. A dog

B. A cash cow.

C. A question mark.

D. A star.

Discussion 0

Correct Answer: B Vote an answer

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Question 2

In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?

A. The alignment of management decisions with the level of risk the organization is willing to accept.

B. The effectiveness of process-level and transaction-level controls.

C. The actions of upper management in response to the internal audit acth/lty's reporting

D. Conflicts of interest within the organizational structure of the senior management.

Discussion 0

Correct Answer: A Vote an answer

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Question 3

Which of the following is an example of a directive control?

A. Segregation of duties

B. Training programs,

C. Exception reports

D. Supervisory review.

Discussion 0

Correct Answer: B Vote an answer

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Question 4

For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board*?

A. Chair should learn the current organizational culture of the company.

B. Chair should gain an understanding of the needs of key stakeholders.

C. Chair should determine the appropriateness of the current strategic risks.

D. Chair should learn the current risk management system of the company

Discussion 0

Correct Answer: A Vote an answer

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Question 5

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

A. When a manufacturer has reliable resources and suppliers.

B. When an organization is subjected to strong political and social pressures

C. When an organization is infrequently affected by technological advances

D. When a manufacturing organization has stable demand for its products.

Discussion 0

Correct Answer: B Vote an answer

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Question 6

Operational management In the IT department has developed key performance indicator reports, which are reviewed in detail during monthly staff meetings. This activity is designed to prevent which of the following conditions?

A. Accountability reward failure

B. Communication failure

C. Monitoring gap.

D. Knowledge/skills gap.

Discussion 0

Correct Answer: C Vote an answer

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Question 7

According to IIA guidance, which of the following would be the best first step to manage risk when a third party is overseeing the organization's network and data'?

A. Creating a standing cybersecurity committee to identify and manage risks related to data security.

B. Applying administrative privileges to ensure right-to-access controls are appropriate.

C. Drafting a strong contract that requires regular vendor control reports and a right-to-audit clause.

D. Creating a comprehensive reporting system for vendors to demonstrate their ongoing due diligence in network operations.

Discussion 0

Correct Answer: C Vote an answer

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Question 8

A regional entertainment organization is in the process of developing a corporate social responsibility (CSR) policy. Management invites ideas from employees when developing the CSR policy Which of the following is the most appropriate idea to include?

A. Management is responsible for ensuring that the organization's CSR principles are communicated, understood, and integrated into decision-making processes.

B. Management has overall responsibility for the effectiveness of governance, risk management, and internal control processes associated with CSR.

C. The board Is responsible for ensuring that CSR objectives are established, risks are managed, performance is measured, and activities are appropriately monitored and reported

D. Generally, CSR activities are limited to the management of the organization, thus, employees do not have a responsibility for ensuring the success of CSR objectives.

Discussion 0

Correct Answer: A Vote an answer

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Question 9

Which of the following is essential for ensuring that the internal audit activity's findings and recommendations receive adequate consideration?

A. Reporting results of audits with recommendations to management.

B. Providing formal follow-up procedures to ensure that management complies with an action plan or accepted risk of not taking action.

C. Discussing audit findings with independent auditors.

D. Reporting quarterly to management that the audit plan is focused on higher exposures of risk.

Discussion 0

Correct Answer: B Vote an answer

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Question 10

Which of the following would most likely be found in an organization that uses a decentralized organizational structure?

A. There are clear expectations set for employees.

B. There is a higher reliance on organizational culture

C. There are electronic monitoring techniques employed

D. There is a defined code for employee behavior

Discussion 0

Correct Answer: B Vote an answer

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Question 11

A company makes a product at a cost of $26 per unit, of which $10 is fixed cost. The product is usually sold for $30 per unit; however, the company has been approached by a new customer who would like to purchase 3,500 units for $18 each Further, the company would Incur additional cost to deliver the units to this customer If the company has the excess manufacturing capacity and all other factors are constant, what is the additional cost that the company would Incur in order to make a profit of $1.50 per unit for this order?

A. $1.50

B. $2 50

C. $0.50

D. $3.50

Discussion 0

Correct Answer: B Vote an answer

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Question 12

Which of the following is most likely the subject of a periodic report from the chief audit executive to the board?

A. A complete, accurate, and comprehensive account of engagement observations and recommendations.

B. Management's assertions regarding the system of internal controls.

C. The internal audit activity's purpose, authority, responsibility, and performance relative to plan.

D. Oversight of the coordination between the internal audit activity and independent outside auditors

Discussion 0

Correct Answer: C Vote an answer

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IIA Qualified Info Systems Auditor CIA Challenge - IIA-CHAL-QISA Exam Practice Test

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