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IIA-CIA-Part3 exam, also known as Business Knowledge for Internal Auditing, is one of the exams required to become a certified internal auditor. It focuses on the knowledge and skills needed for internal auditors to understand business operations and financial management principles. IIA-CIA-Part3 exam is an essential part of the certification process for internal auditors as it tests their ability to apply their knowledge to real-world business scenarios.
IIA-CIA-Part3 exam is designed to test candidates on their knowledge of business and risk management, governance, communication, and IT. IIA-CIA-Part3 Exam consists of 100 multiple-choice questions and is timed at two hours and forty-five minutes. To be eligible to take IIA-CIA-Part3 exam, candidates must have completed the CIA Part 1 and CIA Part 2 exams or have obtained other approved certifications.
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IIA-CIA-Part3 (Business Knowledge for Internal Auditing) certification exam is an important certification for internal auditors who want to demonstrate their knowledge and skills in the area of business knowledge. Internal Audit Function certification is recognized globally and can help internal auditors advance their careers and increase their earning potential. If you are an internal auditor who wants to take your career to the next level, the IIA-CIA-Part3 Certification Exam is definitely worth considering.
IIA Internal Audit Function Sample Questions (Q417-Q422):
NEW QUESTION # 417
An organization prepares a statement of privacy to protect customers' personal information. Which of the following might violate the privacy principles?
- A. The organization retains customers' personal information indefinitely.
- B. The organization performs regular maintenance on customers' personal information.
- C. Customers reserve the right to reject sharing personal information with third parties.
- D. Customers can access and update personal information when needed.
Answer: A
NEW QUESTION # 418
The following information and diagram apply to a project:

The earliest completion time for the project is:
- A. 14 days.
- B. 11 days.
- C. 15 days.
- D. 20 days.
Answer: C
Explanation:
The two paths through the network are A-C-E (5+4 + 6= 15days) and B-D-E (3 + 2 + 6 = 11 days). The critical or longest path is thus A-C-E. Hence, the earliest completion time is 15 days.
NEW QUESTION # 419
According to the COSO enterprise risk management (ERM) framework, which of the following is not a typical responsibility of the chief risk officer?
- A. Providing the board with an independent, objective risk perspective on financial reporting.
- B. Establishing risk category definitions and a common risk language for likelihood and impact measures.
- C. Defining ERM roles and responsibilities.
- D. Guiding integration of ERM with other management activities.
Answer: A
NEW QUESTION # 420
Senior management has decided to implement the Three Lines of Defense model for risk management. Which of the following best describes senior management's duties with regard to this model?
- A. Identify emerging issues.
- B. Set goals for implementation.
- C. Ensure compliance with the model.
- D. Identify management functions.
Answer: C
NEW QUESTION # 421
On a balanced scorecard, which of the following is not a customer measure?
- A. Economic value added.
- B. Service response time.
- C. Warranty expense.
- D. Market share.
Answer: A
Explanation:
Customer measures include market share and its trend, service response time, delivery
performance, warranty returns, expense, complaints, and survey results. Economic value added, or E1 A, is a financial measure.
NEW QUESTION # 422
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