[2023] Use Valid IIA-CIA-Part3 Exam – Actual Exam Question & Answer [Q104-Q128]

Q104. One of the elements included in the economic order quantity EOQ) formula is:

Q105. What technique could be used to prevent the input of alphabetic characters into an all numeric identification number?

Q106. in which of the following technical infrastructure audits should attention be turned to physical security and environmental controls?

Q107. An entity changes its method of accounting for depreciation during the current year because it believes that the result will be reliable and more relevant information. In its financial statements for the year, how should the entity report the adjustment resulting from the change in accounting policy if the practicability criterion is met?

Q108. Which of the following statements regarding organizational governance is not correct?

Q109. A plot of land is acquired in exchange for US $250,000 cash and a noninterest-bearing note with a face amount of US $1,000.000 on January 1 of the current year. The US $1,000,000 is payable in installments of US $250,000 each, with the first installment due December 31 of the current year. With regard to imputing interest on this note what market rate should be used to account for interest for the current year and2) what should be done in future years when there is a change in prevailing interest rates?

Q110. The arrival times in a waiting-line (queuing) model follow which probability distribution?

Q111. What is RST’s accounts receivable turnover for Year 6?

Q112. The Plan-Do-Check-Act PDC}A) cycle is a quality tool devised byALE. Denning. How is
PDC A best described

Q113. The best preventive measure against a computer virus is to:

Q114. Which of me following statements is true regarding the reporting of tangible and intangible assets?

Q115. While auditing a marketing department, the internal auditor discovered that the product life cycle model was used to structure the marketing mix. The manager has asked the auditor for advice about increasing advertising of various products. During which stage of the life cycle would it be appropriate to advertise that the company’s product is the lowest price and best quality of all competitors?

Q116. An organization has 10,000 units of a defect item in stock, per unit, market price is $10$; production cost is $4; and defect selling price is $5. What is the carrying amount (inventory value) of defects at your end?

Q117. Which stage in the industry life cycle is characterized by many different product variations?

Q118. Which of the following is not true about the advantages of adopting ISO 9000 standards?

Q119. Quality control programs employ many tools for problem definition and analysis. A scatter diagram is one of these tools. The objective of a scatter diagram is to:

Q120. 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?

Q121. According to the International Professional Practices Framework, internal auditors who are assessing the adequacy of organizational risk management processes should not:

Q122. Division A produces a product with a variable cost of $5 per unit and an allocated fixed cost of S3 per unit The market price of the product is S15 plus 20 percent selling cost. Division B currently purchases this product from an external supplier but is going to purchase it from division A for S18 Which of the following methods of transfer pricing is being used?

Q123. Which of the following re a result of implementing an e-commerce system, which relies heavily on electronic data interchange and electronic funds transfer, for purchasing and billing?

Q124. 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?

Q125. Which of the following is a project planning methodology that involves a complex series of required simulations to provide information about schedule risk?

Q126. Which of the following is an element of effective negotiating?

Q127. An organization accumulated the following data for the prior fiscal year:
Value of
Percentage of
Quarter
Output Produced
Cost X
1
$4,750,000
2.9
2
$4,700,000
3.0
3
$4,350,000
3.2
4
$4,000,000
3.5
Based on this data, which of the following describes the value of Cost X in relation to the value of Output Produced?

Q128. Which of the following statements is not true regarding ISO 9000 standards?