Get 2022 Most Reliable IIA IIA-CIA-Part3-3P Training Materials [Q226-Q249]

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NEW QUESTION 226
Which of the following engagement observations would provide the least motivation for management to amend or replace an existing cost accounting system?

The distorted unit cost of a service is 50 percent lower than the true cost, while the true cost is 50 percent higher than the competition’s cost.

The organization is losing $1,000,000 annually because it incorrectly outsourced an operation based on information from its current system.

The cost of rework, hidden by the current system, is 50 percent of the total cost of all services.

50 percent of total organizational cost has been allocated on a volume basis.

NEW QUESTION 227
Which of me following application controls is the most dependent on the password owner?

Password selection

Password aging

Password lockout

Password rotation

NEW QUESTION 228
Which of the following statements about mentoring is true?
1) Mentoring can be used effectively for increasing employee retention
2) Mentoring can be used effectively in reducing employees frustration.
3) Mentoring can be used effectively for increasing organization communication.
4) Mentoring can be used effectively as a short term activity consisting of instruction and training

1 2. and 3 only.

1. 2 and 4 only

1, 3. and 4 only.

1,2. 3, and 4

NEW QUESTION 229
Which of the following is a key responsibility of a database administrator?

Troubleshoot end user problems

Provide production support.

Provide physical security of databases

Maintain database integrity

NEW QUESTION 230
An internal auditor has been asked to conduct an investigation involving allegations of independent contractor fraud. Which of the following controls would be least effective in detecting any potential fraudulent activity?

Exception report identifying payment anomalies.

Documented policy and procedures.

Periodic account reconciliation of contractor charges.

Monthly management review of all contractor activity.

NEW QUESTION 231
Which of the following would provide the most relevant assurance that the application under development will provide maximum value to the organization?

Use of a formal systems development lifecycle.

End-user involvement.

Adequate software documentation.

Formalized non-regression testing phase.

NEW QUESTION 232
According to Porter, which of the following is associated with fragmented industries?

Weak entrance barriers.

Significant scale economies.

Steep experience curve.

Strong negotiation power with suppliers.

NEW QUESTION 233
Which of the following statements is true regarding reversing entries in an accounting cycled

Reversing all previous closing adjustments is a mandatory step in the accounting cycle

Reversing entries should be completed at the end of the next accounting period after recording regular transactions of the period

Reversing entries are identical to the adjusting entries made in the previous period.

Reversing entries are the exact opposite of the adjustments made in the previous period.

NEW QUESTION 234
When applied to international economics, the theory of comparative advantage proposes that total worldwide output will be greatest when:

Each nation’s total imports approximately equal its total exports.

Each good is produced by the nation that has the lowest opportunity cost for that good.

Goods that contribute to a nation’s balance-of-payments deficit are no longer imported.

International trade is unrestricted and tariffs are not imposed.

NEW QUESTION 235
Which of the following purchasing scenarios would gain the greatest benefit from implementing electronic data interchange?

A time-sensitive just-in-time purchase environment.

A large volume of custom purchases.

A variable volume sensitive to material cost.

A currently inefficient purchasing process.

NEW QUESTION 236
An organization is considering mirroring the customer data for one regional center at another center. A disadvantage of such an arrangement would be:

Lack of awareness of the state of processing.

Increased cost and complexity of network traffic.

Interference of the mirrored data with the original source data.

Confusion about where customer data are stored.

NEW QUESTION 237
An internal auditor is reviewing the organization’s performance appraisal process. Which of the following methods would be most effective to identify stereotyping?

Use a behaviorally anchored rating scale to Break down jobs into their components.

Analyze and compare the ratings for different classes or groupings of employees.

Compare the ratings of selective employees with their previous appraisals.

Analyze the number and percentages of employee appraisals that fall into each rating category

NEW QUESTION 238
In an organization where enterprise risk management practices are mature, which of the following is a core internal audit role?

Giving assurance that risks are evaluated correctly.

Developing the risk management strategy for the board’s approval.

Facilitating the identification and evaluation of risks.

Coaching management in responding to risk.

NEW QUESTION 239
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?

50 units.

60 units.

100 units.

120 units.

NEW QUESTION 240
Which of the following attributes of data is the most significantly impacted by the internet of things?

Velocity.

Veracity.

Structurization.

Normalization.

NEW QUESTION 241
According to the waterfall cycle approach to systems development, which of the following sequence of events is correct?

Program design, system requirements, software design, analysis, coding, testing, operations.

System requirements, software design, analysis, program design, testing, coding, operations.

System requirements, software design, analysis, program design, coding, testing, operations.

System requirements, analysis, coding, software design, program design, testing, operations.

NEW QUESTION 242
Which of following best demonstrates the application of the cost principle?

A building purchased last year for $1 million is currently worth $1.2 million, and the company adjusts the records to reflect the current value.

A company reports assets at either historical or fair value, depending which is closer to market value.

A company reports trading and investment securities at their market cost.

A building purchased last year for $1 million is currently worth $1.2 million, but the company still reports the building at $1 million.

NEW QUESTION 243
Which is the least effective form of risk management?

Systems-based preventive control.

People-based preventive control.

Systems-based detective control.

People-based detective control.

NEW QUESTION 244
Which of the following budgets must be prepared first?

Cash budget.

Production budget.

Sales budget.

Selling and administrative expenses budget.

NEW QUESTION 245
Which of the following statements is true regarding the resolution of interpersonal conflict?

Unrealized expectations can be avoided with open and honest discussion.

Reorganization would probably not help ambiguous or overlapping jurisdictions.

Deferring action should be used until there is sufficient time to fully deal with the issue.

Timely and unambiguous clarification of roles and responsibilities will eliminate most interpersonal conflict.

NEW QUESTION 246
Which of the following risks is best addressed by encryption?

Information integrity risk.

Privacy risk

Access risk

Software risk

NEW QUESTION 247
Which of the following is an example of a smart device security control intended to prevent unauthorized users from gaining access to a device’s data or applications?

Anti-malware software.

Authentication.

Spyware.

Rooting.

NEW QUESTION 248
Which of the following should be established by management during implementation of big data systems to enable ongoing production monitoring?

Key performance indicators

Reports of software customization

Change and patch management

Master data management

NEW QUESTION 249
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.

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IIA IIA-CIA-Part3-3P Exam Syllabus Topics:

Topic	Details
Topic 1	?Recognize advanced and emerging financial accounting concepts Describe revenue cycle, current asset management activities and accounting, and supply chain management
Topic 2	Organizational Structure and Business Processes Infrastructure and IT Control Frameworks
Topic 3	Explain basic IT infrastructure and network concepts Identify project management techniques
Topic 4	Describe capital budgeting, capital structure, basic taxation, and transfer pricing Recognize the application of data analytics methods in internal auditing
Topic 5	Differentiate the various forms of user authentication and authorization controls Identify concepts and underlying principles of financial accounting
Topic 6	Describe cybersecurity and information security-related policies Describe management’s effectiveness to lead, mentor, guide people, build organizational commitment
Topic 7	Examine the risk and control implications of common business processes Appraise the risk and control implications of different organizational configuration structures

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