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

IIA IIA-CIA-PART3 Online Questions & Answers

• Question 481:

  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

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  Explanation

• Question 482:

  Formal groups are work groups within the organization assembled to perform a productive activity. How is a formal group similar to an informal group?

  A. Membership in both informal and formal groups tends to be permanent.
  B. Informal and formal groups develop their own leaders to fill the needs of the group.
  C. Informal and formal groups usually provide social satisfaction that supplements job satisfaction.
  D. Informal and formal groups are based on the organization's purpose and needs.
  C. Informal and formal groups usually provide social satisfaction that supplements job satisfaction.

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  Explanation

  The use of groups in organizations has often led to a higher degree of social satisfaction because members feel that they have contributed to a part of the group and gained the acceptance of their peers. Both informal and formal groups usually provide an employee with greater job satisfaction than the employee would otherwise have on his or her own.

• Question 483:

  Which of the following risks is best addressed by encryption?

  A. Information integrity risk.
  B. Privacy risk.
  C. Access risk.
  D. Software risk.
  B. Privacy risk.

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  Explanation

• Question 484:

  Which of the following statements is true regarding the term " flexible budgets" as it is used in accounting?

  A. The term describes budgets that exclude fixed costs.
  B. Flexible budgets exclude outcome projections, which are hard to determine, and instead rely on the most recent actual outcomes.
  C. The term is a red flag for weak budgetary control activities.
  D. Flexible budgets project data for different levels of activity.
  D. Flexible budgets project data for different levels of activity.

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  Explanation

• Question 485:

  Which of the following is an example of a contingent liability that a company should record?

  A. A potential assessment of additional income tax.
  B. Possible product warranty costs.
  C. The threat of a lawsuit by a competitor.
  D. The remote possibility of a contract breach.
  B. Possible product warranty costs.

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  Explanation

• Question 486:

  Which of the following attributes of data are cybersecurity controls primarily designed to protect?

  A. Veracity, velocity, and variety
  B. Integrity, availability, and confidentiality
  C. Accessibility, accuracy, and effectiveness
  D. Authorization, logical access, and physical access
  B. Integrity, availability, and confidentiality

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  Explanation

• Question 487:

  An organization has instituted a bring-your-own-device (BYOD) work environment. Which of the following policies best addresses the increased risk to the organization's network incurred by this environment?

  A. Limit the use of the employee devices for personal use to mitigate the risk of exposure to organizational data.
  B. Ensure that relevant access to key applications is strictly controlled through an approval and review process.
  C. Institute detection and authentication controls for all devices used for network connectivity and data storage.
  D. Use management software to scan and then prompt patch reminders when devices connect to the network.
  C. Institute detection and authentication controls for all devices used for network connectivity and data storage.

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  Explanation

• Question 488:

  An organization has started allowing employees to use their personal smart devices to accept vendor payments. What should the organization's bring-your-own-device (BYOD) policy include to specifically address security and privacy required by the Payment Card Data Security Standard (PCI DSS)?

  A. Approved devices
  B. Mobile applications
  C. Data storage.
  D. Backups and transfers
  C. Data storage.

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  Explanation

• Question 489:

  Select an additional deficiency in the communication chain.

  A. The receiver of the communication was inappropriate; the personnel department should have received the memorandum and then informed the buyer.
  B. The message is improperly encoded because the buyer does not know why the termination is to be completed.
  C. Because the supervisor and buyer have conflicting vacation schedules, no possibility exists for feedback.
  D. The supervisor should not be the sender of the memorandum; the personnel department is the appropriate source.
  C. Because the supervisor and buyer have conflicting vacation schedules, no possibility exists for feedback.

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  Explanation

  The communications process has five elements:1) the sender of the message, 2) symbols used to encode the message, ) the medium chosen to send the message, 4) the receiver of the message, and 5) feedback acknowledging interpretation of the message by the receiver. Because the supervisor and buyer have conflicting vacation schedules, no possibility exists for feedback, and the buyer is not referred to anyone else in the organization for any additional information.

• Question 490:

  Which of the following is an effective active listening technique?

  A. Summarizing. II. Clarifying. III. Evaluating. IV. Empathizing
  B. I and IV only.
  C. II and Ill only.
  D. I, II, and IV only.
  E. I, II, Ill, and IV.
  C. II and Ill only.

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  Explanation

  Summarizing brings the discussion into focus and clarifies priorities. Clarifying content or process helps others explore the problem and make their ideas more concrete. Empathizing shows that the listener understands how the other person feels and encourages him/her to express feelings. However, evaluating may curtail the presentation of views and lead another person to believe that the listener's mind is already made up.