IIA-CIA-Part3 by IIA Actual Free Exam Questions And Answers

Question 1

Which type of bond sells at & discount from face value, then increases in value annually until it reaches maturity and provides the owner with the total payoff?

A. Junk bonds

B. Commodity-backed bonds

C. High-yield bonds

D. Zero coupon bonds

Discussion 0

Correct Answer: D Vote an answer

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Question 2

Which of the following best describes a transformational leader, as opposed to a transactional leader?

A. The leader does not intervene to promote problem-solving

B. The leader intervenes to communicate high expectations.

C. The leader searches for deviations from the rules and standards and intervenes when deviations exist.

D. The leader intervenes only when performance standards are not met.

Discussion 0

Correct Answer: B Vote an answer

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Question 3

Which of the following is true of bond financing, compared to common stock, when alJ other variables are equal?

A. Lower shareholder control

B. Higher overall company earnings

C. Higher company earnings per share.

D. lower indebtedness

Discussion 0

Correct Answer: C Vote an answer

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Question 4

How can the chief audit executive best provide the internal audit function with the resources needed to fulfill the annual audit plan?

A. Map the audit risk assessment to the organization's strategic plan

B. Collaborate with other risk management functions in the organization

C. Refine its audit processes according to the Global Internal Audit Standards

D. Improve skills by strengthening staff competencies

Discussion 0

Correct Answer: D Vote an answer

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Question 5

Which of the following is an example of a phishing attack?

A. An organization's website becomes flooded with malicious traffic on the first day of the online shopping season, causing the website to crash and preventing customers from purchasing deals online

B. A group of online activists hacked into the private email and confidential records of the local police department and released the information online to expose the corrupt practices of the department

C. An organization's employees clicked on a link that allowed a worm to infiltrate and encrypt the organization's operating system, rendering it unusable. A group of hackers is demanding payment to unlock the encryption

D. The employees of a retail organization responded to emails with a link to malware that enabled a hacker to access the point-of-sale system and obtain customers' credit card information

Discussion 0

Correct Answer: D Vote an answer

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Question 6

Which of the following statements is true regarding activity-based costing (ABC)?

A. An ABC costing system is similar to conventional costing systems in how it treats the allocation of manufacturing overhead.

B. The primary disadvantage of an ABC costing system is less accurate product costing.

C. An ABC costing system uses a single unit-level basis to allocate overhead costs to products.

D. An ABC costing system may be used with either a job order or a process cost accounting system.

Discussion 0

Correct Answer: D Vote an answer

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Question 7

According to UA guidance on IT, at which of the following stages of the project life cycle would the project manager most likely address the need to coordinate project resources?

A. Execution.

B. Planning.

C. Initiation.

D. Monitoring.

Discussion 0

Correct Answer: A Vote an answer

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Question 8

An internal auditor identified a database administrator with an incompatible dual role. Which of the following duties should not be performed by the identified administrator?

A. Designing and maintaining the database.

B. Preparing input data and maintaining the database.

C. Designing the database and providing its security

D. Maintaining the database and providing its security,

Discussion 0

Correct Answer: C Vote an answer

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Question 9

Which of the following cost of capital methods identifies the time period required to recover She cost of the capital investment from the annual inflow produced?

A. Net present value method.

B. Annual rate of return technique.

C. Cash payback technique

D. Internal rate of return method.

Discussion 0

Correct Answer: C Vote an answer

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Question 10

The IT department maintains logs of user identification and authentication for all requests for access to the network. What is the primary purpose of these logs?

A. To enable tracking of privileges granted to users over time

B. To ensure proper segregation of duties

C. To create a master repository of user passwords

D. To enable monitoring for systems efficiencies

Discussion 0

Correct Answer: A Vote an answer

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Question 11

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

A. Integrity controls

B. Management trail controls

C. Output controls.

D. input controls

Discussion 0

Correct Answer: A Vote an answer

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IIA Business Knowledge for Internal Auditing - IIA-CIA-Part3 Exam Practice Test

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