IIA-CIA-Part3 Practice Exams - IIA-CIA-Part3 Real Testing Environment

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IIA IIA-CIA-Part3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Organizational Strategic Planning and Management25%- Identify risk and control implications related to leadership and mentoring
  • 1. Coaching
  • 2. Demonstrating entrepreneurial ability
  • 3. Providing constructive feedback
  • 4. Building organizational commitment
  • 5. Mentoring
  • 6. Guiding people
- Examine organizational behavior and management principles
  • 1. Leadership styles
  • 2. Conflict resolution
  • 3. Change management
  • 4. Motivation theories
  • 5. Team dynamics
- Identify the risk and control implications of different organizational structures
  • 1. Matrix structures
  • 2. Centralized versus decentralized
  • 3. Flat versus traditional
- Analyze the organization's strategic planning process and its integration with the risk management strategy
  • 1. Alternative strategies evaluation
  • 2. Objective setting
  • 3. Business context analysis
  • 4. Control environment
  • 5. Alignment to the organization's mission and values
  • 6. Risk appetite definition
- Examine how performance measures and controls are used to assess achievement of organizational objectives
  • 1. Balanced scorecard
  • 2. Key performance indicators (KPIs)
  • 3. Benchmarking
Topic 2: Information Technology20%- Examine the role of data analytics in the audit process
  • 1. Continuous auditing
  • 2. Data extraction
  • 3. Data analysis techniques
- Identify risk and control implications related to IT infrastructure and systems
  • 1. Business continuity and disaster recovery
  • 2. Networking
  • 3. Operating systems
  • 4. Cloud computing
  • 5. Databases
- Explain the purpose and use of common information security and technology controls
  • 1. Biometrics
  • 2. Digital signatures
  • 3. Multi-factor authentication
  • 4. Encryption
  • 5. Antivirus
  • 6. IT general controls
  • 7. Passwords
  • 8. Firewalls
- Recognize existing and emerging cybersecurity threats and vulnerabilities
  • 1. Social engineering
  • 2. Ransomware
  • 3. Phishing
  • 4. Malware
- Recognize principles of data privacy and their potential impact on data security policies and practices
- Recognize data governance and data management concepts
Topic 3: Common Business Processes45%- Examine financial management concepts and their risk and control implications
  • 1. Managerial accounting
  • 2. Cost accounting
  • 3. Capital budgeting and investment
  • 4. Working capital management
  • 5. Financial analysis and decision-making
  • 6. Financial accounting and reporting
- Describe business processes and their risk and control implications
  • 1. Management of outsourced processes
  • 2. Logistics
  • 3. Product development
  • 4. Sales and marketing
  • 5. Human resources
  • 6. Procurement
- Recognize various forms and elements of contracts
  • 1. Consideration
  • 2. Fixed-price and cost-reimbursable contracts
  • 3. Formality
  • 4. Unilateral and bilateral contracts
- Identify risk and control implications of project management
  • 1. Project plan and scope
  • 2. Change management in projects
  • 3. Time/team/resources/cost management
  • 4. Project risk management
- Describe the risk and control implications of supply chain management
  • 1. Vendor management
  • 2. Inventory management
  • 3. Quality control
Topic 4: Financial Management10%- Examine the risk and control implications of financial statement analysis
  • 1. Common-size analysis
  • 2. Ratio analysis
  • 3. Trend analysis
- Identify risk and control implications of financial management
  • 1. Working capital management
  • 2. Financial instruments
  • 3. Capital structure and financing
  • 4. Foreign currency

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IIA Internal Audit Function Sample Questions (Q39-Q44):

NEW QUESTION # 39
An account executive has just designed a Monte Carlo model to estimate the costs of a particular type of project. Validating the model could include all except:

Answer: B

Explanation:
The Monte Carlo technique is used in a simulation to generate the individual values for a random value. An essential step in the simulation procedure is to validate the mathematical model used. This process involves not only searching for errors but also verifying the assumptions. It also should provide some assurance that the results of the experiment will be realistic. This assurance is often obtained using historical data. If the model gives results equivalent to what actually happened, the model is historically valid. There is still some risk, however, that changes could make the model invalid for the future. The model should not be implemented until this validation process is complete.


NEW QUESTION # 40
Change control typically includes procedures for separate libraries for production programs and for test versions of programs. The reason for this practice is to:

Answer: A

Explanation:
Separating production and test versions of programs facilitates restricting access to production programs to the individuals, such as computer operators, who need access. The effect is to separate the incompatible functions of operators and programmers.


NEW QUESTION # 41
An automobile and personal property insurer has decentralized its information processing to the extent that headquarters has less processing capacity than any of its regional processing centers. These centers are responsible for initiating policies, communicating with policyholders, and adjusting claims. The company uses leased lines from a national telecommunications company. Initially, the company thought there would be little need for interregional communication, but that has not been the case. The company underestimated the number of customers that would move between regions and the number of customers with claims arising from accidents outside their regions. The company has a regional center in an earthquake-prone area and is planning how to continue processing if that center, or any other single center, were unable to perform its processing. The company considered mirroring the data stored at each regional center at another center. A disadvantage of such an arrangement is:

Answer: C

Explanation:
If data stored at one regional center is to mirror the data stored at another center, the most efficient method to ensure each center has the most current data is to transfer data across a network. Consequently, the cost of network traffic would increase dramatically.
The complexity of the network would also increase as the network would need to provide a great deal of security when transferring data.


NEW QUESTION # 42
Which of the following is an effective preventive control for data center security?

Answer: B


NEW QUESTION # 43
Which of the following roles would be least appropriate for the internal audit activity to undertake with regard to an organization's corporate social responsibility (CSR) program?

Answer: B


NEW QUESTION # 44
......

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