IIA IIA-CIA-PART3-3P Online Practice Questions and Exam Preparation

IIA IIA-CIA-PART3-3P Online Questions & Answers

• Question 301:

  During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of $1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?

  A. $170,000
  B. $280,000
  C. $300,000
  D. $540,000
  A. $170,000

• Question 302:

  A retail organization mistakenly did not include S10.000 of inventory in the physical count at the end of the year. What was the impact to the organization's financial statements?

  A. Cost of sales and net income are understated
  B. Cost of sales and net income are overstated
  C. Cost of sales is understated and net income is overstated.
  D. Cost of sales is overstated and net income is understated.
  C. Cost of sales is understated and net income is overstated.

• Question 303:

  Which of the following options correctly defines a transmission control protocol/Internet protocol (TCP/IP)?

  A. System software that acts as an interface between a user and a computer.
  B. A standardized set of guidelines that facilitates communication between computers on different networks.
  C. System software that translates hypertext markup language to allow users to view a remote webpage.
  D. A network of servers used to control a variety of mission-critical operations.
  B. A standardized set of guidelines that facilitates communication between computers on different networks.

• Question 304:

  A multinational organization involved in online business has planned to set up a help desk service. Which of the following best describes the role performed by the help desk?

  A. Monitoring access to the online database.
  B. Backing up and maintaining archived data.
  C. Responding to customer inquiries.
  D. Maintaining and assuring network security.
  C. Responding to customer inquiries.

• Question 305:

  An organization accomplishes its goal to obtain a 40 percent share of the domestic market, but is unable to get the desired return on investment and output per hour of labor. Based on this information the organization is most likely focused on which of the following?

  A. Capital investment and not marketing
  B. Marketing and not capital investment.
  C. Efficiency and not input economy.
  D. Effectiveness and not efficiency.
  D. Effectiveness and not efficiency.

• Question 306:

  If a just-in-time purchasing system is successful in reducing the total inventory costs of a manufacturing company, which of the following combinations of cost changes would be most likely to occur?

  A. 1
  B. 2
  C. 3
  D. 4
  D. 4

• Question 307:

  According to IIA guidance, which of the following corporate social responsibility (CSR) evaluation activities may be performed by the internal audit activity?

  1) Consult on CSR program design and implementation.

  2) Serve as an advisor on CSR governance and risk management.

  3) Review third parties for contractual compliance with CSR terms.

  4) Identify and mitigate risks to help meet the CSR program objectives.

  A. 1, 2, and 3
  B. 1, 2, and 4
  C. 1, 3, and 4
  D. 2, 3, and 4
  A. 1, 2, and 3

• Question 308:

  According to IIA guidance, which of the following is a typical risk associated with the tender process and contracting stage of an organization's IT outsourcing life cycle?

  A. The process is not sustained and is not optimized as planned.
  B. There is a lack of alignment to organizational strategies.
  C. The operational quality is less than projected.
  D. There is increased potential for loss of assets.
  D. There is increased potential for loss of assets.

• Question 309:

  An internal auditor is reviewing results from software development integration testing. What is the purpose of integration testing?

  A. To verify that the application meets staled user requirements.
  B. To verify that standalone programs match code specifications.
  C. To verify that me application would work appropriately for the intended number of users.
  D. To verify that all software and hardware components work together as intended
  D. To verify that all software and hardware components work together as intended

• Question 310:

  Which of the following is not a method for implementing a new application system?

  A. Direct cutover.
  B. Parallel.
  C. Pilot.
  D. Test.
  D. Test.