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Guide for CIA Exam Part Three: Business Knowledge for Internal Auditing

Quiz CIA Exam Part Three: Business Knowledge for Internal Auditing

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/ 10

Quiz

1/10
An internal auditor reviews a data population and calculates the mean, median, and range. What is the most likely purpose of performing this analytic technique?
Select the answer
1 correct answer
A.
To inform the classification of the data population.
B.
To determine the completeness and accuracy of the data.
C.
To identify whether the population contains outliers.
D.
To determine whether duplicates in the data inflate the range.

Quiz

2/10
According to IIA guidance, which of the following steps are most important for an internal auditor to perform when evaluating an organization's social and environmental impact on the local community? 1) Determine whether previous incidents have been reported, managed, and resolved. 2) Determine whether a business contingency plan exists. 3) Determine the extent of transparency in reporting. 4) Determine whether a cost/benefit analysis was performed for all related projects.
Select the answer
1 correct answer
A.
1 and 3.
B.
1 and 4.
C.
2 and 3.
D.
2 and 4.

Quiz

3/10
An internal auditor performed a review of IT outsourcing and found that the service provider was failing to meet the terms of the service level agreement. Which of the following approaches is most appropriate to address this concern?
Select the answer
1 correct answer
A.
The organization should review the skill requirements and ensure that the service provider is maintaining sufficient expertise and retaining skilled resources.
B.
The organization should proactively monitor the performance of the service provider, escalate concerns, and use penalty clauses in the contract where necessary.
C.
The organization should ensure that there is a clear management communication strategy and path for evaluating and reporting on all outsourced services concerns.
D.
The organization should work with the service provider to review the current agreement and expectations relating to objectives, processes, and overall performance.

Quiz

4/10
Which of the following is a strategy that organizations can use to stimulate innovation? 1) Source from the most advanced suppliers. 2) Establish employee programs that reward initiative. 3) Identify best practice competitors as motivators. 4) Ensure that performance targets are always achieved.
Select the answer
1 correct answer
A.
1 and 3 only
B.
2 and 4 only
C.
1, 2, and 3 only
D.
1, 2, 3, and 4

Quiz

5/10
Which of the following conditions could lead an organization to enter into a new business through internal development rather than through acquisition?
Select the answer
1 correct answer
A.
It is expected that there will be slow retaliation from incumbents.
B.
The acquiring organization has information that the selling organization is weak.
C.
The number of bidders to acquire the organization for sale is low.
D.
The condition of the economy is poor.

Quiz

6/10
Which of the following statements regarding program change management is not correct?
Select the answer
1 correct answer
A.
The goal of the change management process is to sustain and improve organizational operations.
B.
The degree of risk associated with a proposed change determines if the change request requires authorization.
C.
In order to protect the production environment, changes must be managed in a repeatable, defined, and predictable manner.
D.
All changes should be tested in a non-production environment before migrating to the production environment.

Quiz

7/10
Which of the following is a limiting factor for capacity expansion?
Select the answer
1 correct answer
A.
Government pressure on organizations to increase or maintain employment.
B.
Production orientation of management.
C.
Lack of credible market leader in the industry.
D.
Company diversification.

Quiz

8/10
The first step in determining product price is:
Select the answer
1 correct answer
A.
Determining the cost of the product.
B.
Developing pricing objectives.
C.
Evaluating prices set by the competitors.
D.
Selecting a pricing method.

Quiz

9/10
All of the following are true with regard to the first-in, first-out inventory valuation method except:
Select the answer
1 correct answer
A.
It values inventory close to current replacement cost.
B.
It generates the highest profit when prices are rising.
C.
It approximates the physical flow of goods.
D.
It minimizes current-period income taxes.

Quiz

10/10
When writing a business memorandum, the writer should choose a writing style that achieves all of the following except:
Select the answer
1 correct answer
A.
Draws positive attention to the writing style.
B.
Treats all receivers with respect.
C.
Suits the method of presentation and delivery.
D.
Develops ideas without overstatement.
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  • Quiz name:CIA Exam Part Three: Business Knowledge for Internal Auditing
  • Total number of questions:484
  • Number of questions for the test:50
  • Pass score:80%

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