IIA-CIA-Part3 Exam Questions - Real Practice Questions for Guaranteed Success

Question 1

While conducting an audit of the accounts payable department, an internal auditor found that 3% of payments made during the period under review did not agree with the submitted invoices. Which of the following key performance indicators (KPIs) for the department would best assist the auditor in determining the significance of the test results?

AA KPI that defines the process owner's tolerance for performance deviations.

BA KPI that defines the importance of performance levels and disbursement statistics being measured.

CA KPI that defines timeliness with regard to reporting disbursement data errors to authorized personnel.

DA KPI that defines operating ratio objectives of the disbursement process.

Correct : A

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AA KPI that defines the process owner's tolerance for performance deviations.

BA KPI that defines the importance of performance levels and disbursement statistics being measured.

CA KPI that defines timeliness with regard to reporting disbursement data errors to authorized personnel.

DA KPI that defines operating ratio objectives of the disbursement process.

0 / 1500

Question 2

Senior management is trying to decide whether to use the direct write-off or allowance method for recording bad debt on accounts receivables. Which of the following would be the best argument for using the direct write-off method?

AIt is useful when losses are considered insignificant.

BIt provides a better alignment with revenue.

CIt is the preferred method according to The IIA.

DIt states receivables at net realizable value on the balance sheet.

Correct : C

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AIt is useful when losses are considered insignificant.

BIt provides a better alignment with revenue.

CIt is the preferred method according to The IIA.

DIt states receivables at net realizable value on the balance sheet.

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Question 3

Which of the following physical access controls often functions as both a preventive and detective control?

ALocked doors.

BFirewalls.

CSurveillance cameras.

DLogin IDs and passwords.

Correct : C

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ALocked doors.

BFirewalls.

CSurveillance cameras.

DLogin IDs and passwords.

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Question 4

Which of the following statements is true regarding a project life cycle?

ARisk and uncertainty increase over the life of the project.

BCosts and staffing levels are typically high as the project draws to a close.

CCosts related to making changes increase as the project approaches completion.

DThe project life cycle corresponds with the life cycle of the product produced by or modified by the project.

Correct : A

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ARisk and uncertainty increase over the life of the project.

BCosts and staffing levels are typically high as the project draws to a close.

CCosts related to making changes increase as the project approaches completion.

DThe project life cycle corresponds with the life cycle of the product produced by or modified by the project.

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Question 5

An organization was forced to stop production unexpectedly, as raw materials could not be delivered due to a military conflict in the region. Which of the following plans have most likely failed to support the organization?

AJust-in-time delivery plans.

BBackup plans.

CContingency plans.

DStanding plans.

Correct : C

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AJust-in-time delivery plans.

BBackup plans.

CContingency plans.

DStanding plans.

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Master IIA-CIA-Part3 Exam with Reliable Practice Questions

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