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Passing the IIA-CIA-Part3-3P exam is a significant achievement for internal auditors. It demonstrates a high level of knowledge and expertise in the field of internal auditing, which can lead to increased job opportunities and higher salaries. CIA Exam Part Three: Business Knowledge for Internal Auditing certification can also provide professional recognition and credibility within the industry.
IIA-CIA-Part3-3P or the CIA Exam Part Three: Business Knowledge for Internal Auditing is a certification exam that is conducted by the Institute of Internal Auditors (IIA). IIA-CIA-Part3-3P exam is specifically designed for internal auditors who wish to enhance their knowledge and skills in business management and other related areas. Passing IIA-CIA-Part3-3P exam is an essential requirement for internal auditors who want to earn the Certified Internal Auditor (CIA) certification.
IIA-CIA-Part3-3P exam consists of 100 multiple-choice questions that should be answered within a time frame of two and a half hours. IIA-CIA-Part3-3P exam is computer-based and can be taken at any Prometric testing center worldwide. The passing score for IIA-CIA-Part3-3P exam is 600 out of 800.
NEW QUESTION # 198
During which phase of disaster recovery planning should an organization identify the business units, assets, and systems that are critical to continuing an acceptable level of operations?
- A. Business impact analysis.
- B. Plan development.
- C. Scope and initiation phase.
- D. Testing.
Answer: A
NEW QUESTION # 199
Which of the following are included in ISO 31000 risk principles and guidelines?
- A. Principles, practices, and process.
- B. Standards, assessments, and process.
- C. Standards, framework, and process.
- D. Principles, framework, and process.
Answer: D
NEW QUESTION # 200
Which of the following types of data analytics would be used by a hospital to determine which patients are likely to require readmittance for additional treatment?
- A. Prescriptive analytics
- B. Predictive analytics
- C. Diagnostic analytics
- D. Descriptive analytics
Answer: B
NEW QUESTION # 201
Which of the following would be a risk in the development of end-user computing (EUC) applications, compared to traditional information systems?
- A. Since development time is typically longer for EUC applications, management may not be able to respond quickly to competitive pressures
- B. Management might place the same degree of reliance in reports produced by EUC applications as it does in reports produced under traditional systems development procedures.
- C. Management may not be able to make quick and accurate decisions due to a diminished capacity to respond to managerial requests for computerized information
- D. The organization may incur higher application development and maintenance costs for EUC systems.
Answer: B
NEW QUESTION # 202
Which of the following is improved by the use of smart devices?
- A. Version control
- B. Secure authentication
- C. Portability
- D. Privacy
Answer: C
NEW QUESTION # 203
An organization is projecting sales of 100,000 units, at a unit price of $12. Unit variable costs are $7. If fixed costs are $350,000, what is the projected total contribution margin?
- A. $350,000
- B. $850,000
- C. $500,000
- D. $1,200,000
Answer: C
NEW QUESTION # 204
The first step in determining product price is:
- A. Evaluating prices set by the competitors.
- B. Selecting a pricing method.
- C. Developing pricing objectives.
- D. Determining the cost of the product.
Answer: C
NEW QUESTION # 205
Which of the following would provide the most relevant assurance that the application under development will provide maximum value to the organization?
- A. Formalized non-regression testing phase.
- B. Use of a formal systems development lifecycle.
- C. End-user involvement.
- D. Adequate software documentation.
Answer: C
NEW QUESTION # 206
Which of the following statements are true regarding the use of heat maps as risk assessment tools?
1. They focus primarily on known risks, limiting the ability to identify new risks.
2. They rely heavily on objective assessments and related risk tolerances.
3. They are too complex to provide an easily understandable view of key risks.
4. They are helpful but limited in value in a rapidly changing environment.
- A. 2 and 3 only
- B. 1 and 4 only
- C. 1 and 2 only
- D. 3 and 4 only
Answer: B
NEW QUESTION # 207
According to IIA guidance, which of the following corporate social responsibility (CSR) activities is appropriate for the internal audit activity to perform?
- A. Determine whether the organization has an appropriate policy governing its CSR activities.
- B. Align CSR program objectives with the organization's strategic plan.
- C. Integrate CSR activities into the organization's decision-making process.
- D. Determine the optimal amount of resources for the organization to invest in CSR.
Answer: A
NEW QUESTION # 208
Which of the following statements is true regarding cybersecurity risk?
- A. Information value extends the emergence of cybersecurity risks
- B. Installation of antivirus and malware software prevents cybersecurity risks
- C. Cybersecurity risks are identical across all organizations regardless of industry
- D. Deployment of proper cybersecurity measures assures business success
Answer: D
NEW QUESTION # 209
In an effort to increase business efficiencies and improve customer service offered to its major trading partners, management of a manufacturing and distribution company established a secure network, which provides a secure channel for electronic data interchange between the company and its partners.
Which of the following network types is illustrated by this scenario?
- A. A local area network.
- B. A wide area network.
- C. A value-added network.
- D. A metropolitan area network.
Answer: C
NEW QUESTION # 210
According to MA guidance on IT. which of the following best describes a logical access control?
- A. Require complex passwords to be established and changed quarterly
- B. Require swipe cards to control entry into secure data centers
- C. Maintain current role definitions to ensure appropriate segregation of duties
- D. Monitor access to the data center with closed circuit camera surveillance.
Answer: C
NEW QUESTION # 211
The most important reason to use risk assessment in audit planning is to:
- A. Improve budgeting accuracy.
- B. Enhance assurance provided to management.
- C. Assist in developing audit programs.
- D. Identify redundant controls.
Answer: B
NEW QUESTION # 212
An organization's account for office supplies on hand had a balance of S9,000 at the end of year one. During year two. the organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two?
- A. A debit to office supplies on hand for S20.500
- B. A debit to office supplies on hand for S42.500
- C. A debit to office supplies on hand for $11,500
- D. A debit to office supplies on hand for S2.500
Answer: D
NEW QUESTION # 213
Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?
- A. The net income for the period will be understated.
- B. The cost of goods sold for the period will be understated.
- C. There will be no effect on the cost of goods sold or the net income for the period.
- D. The cost of goods sold for the period will be overstated.
Answer: D
NEW QUESTION # 214
Which of the following factors is most responsible for the increasing risk that unauthorized parties may obtain or tamper with personal data?
- A. The lack of legal and industry frameworks on privacy.
- B. The legislated need to retain sensitive personal information.
- C. The rapid growth and evolution of technology.
- D. The absence of generally accepted privacy principles.
Answer: C
NEW QUESTION # 215
Which of the following recognized competitive strategies focuses on gaining efficiencies?
- A. Differentiation
- B. Innovation
- C. Cost leadership
- D. Focus
Answer: C
NEW QUESTION # 216
Which of the following statements is true regarding the capital budgeting procedure known as discounted payback period?
- A. It calculates the overall value of a project
- B. It calculates the time a project takes to break even.
- C. It ignores the time value of money
- D. It begins at time zero for the project.
Answer: B
NEW QUESTION # 217
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. Applying administrative privileges to ensure right-to-access controls are appropriate
- B. Creating a comprehensive reporting system for vendors to demonstrate their ongoing due diligence in network operations
- C. Creating a standing cybersecurity committee to identify and manage risks related to data security
- D. Drafting a strong contract that requires regular vendor control reports and a right-to-audit clause.
Answer: D
NEW QUESTION # 218
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Steps Necessary To Pass The IIA-CIA-Part3-3P Exam: https://drive.google.com/open?id=1IQQGyP8CZuK5mmSu5UjbUK4df1d-tTNR