IIA-CIA-Part3 Dumps – Kickstart your Career with Real Updated Questions [Q172-Q186] – IT Certification Exam Questions & Answers

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IIA-CIA-Part3 Dumps – Kickstart your Career with Real Updated Questions

Earn Quick And Easy Success With IIA-CIA-Part3 Dumps

NEW QUESTION 172
According to Porter’s model of competitive strategy, which of the following is a generic
strategy?
1.Differentiation.
2.Competitive advantage.
3.Focused differentiation.
4.Cost focus.

2 only

3 and 4 only

1, 3, and 4 only

1, 2, 3, and 4

NEW QUESTION 173
The cost of materials has risen steadily over the year. The entity uses its newest materials first when removing items from inventory. Which of the following methods of estimating the ending balance of the materials inventory account will result in the highest profit, all other variables held constant?

Last-in-first-out LIFO

First-in-first-out FIFO

Weighted average

Specific identification

The first-in-first-out-FIFO method assumes that the oldest and hence least costly units are used first, and the newest and most costly items remain in inventory. This method will result in the highest inventory balance if costs rise steadily during the accounting period.
Accordingly FIFO results in the lowest cost of goods sold and the highest profit.

NEW QUESTION 174
One drawback of business process reengineering BPR), sometimes referred to as business process analysis, is:

Improved efficiency in the business processes analyzed.

Excess of cast over the benefit.

Reduction of operational efficiency.

Employee resistance to change.

Business process reengineering BPR), or business process analysis, involves process innovation and process redesign. Instead of improving existing procedures, it finds new ways of doing things. One major drawback of BPR is that employees may be resistant due to fear of layoffs, being replaced, or insecurity about new required skills or tasks that the employee now has to perform.

NEW QUESTION 175
Six months after a disgruntled systems programmer was fired and passwords disabled, the company’s mainframe computer was brought to a halt when it suddenly erased all of its own files and software. The most likely way the programmer accomplished this was by:

Returning to the computer center after 6 months.

Planting a computer virus through the use of telephone access.

Having an accomplice in the computer center.

Implanting a virus in the operating system and executing it via a back door.

Viruses are a form of computer sabotage. They are programs hidden within other programs that have the capacity to duplicate themselves and infect other systems. Sharing of storage media or participation in computer networks creates exposure to viruses. Viruses may result in actions ranging from harmless pranks to erasure of files and programs. A back door is a shortcut created in an operating system that permits a programmer simple access to the system.

NEW QUESTION 176
In an order-entry system in which manually-prepared source documents are entered online for immediate processing, which of the following is an example of an appropriate input-output control?

Password authorization procedure

Check-digit validation procedure.

Hash total verification.

Backup and recovery procedures.

Self-checking digits may be used to detect incorrect identification numbers. The digit is generated by applying an algorithm to the ID number. During the input process, the check digit is recomputed by applying the same algorithm to the code actually entered.

NEW QUESTION 177
Activity scheduling information for the installation of a new computer system is given below.

For this project, the critical path is:

A-C.

B-E.

A-D-E.

B-D-C.

The critical path is the longest path because it defines the minimum duration of the project. A-D-E (A + 6 + 5 = 15 days) is the critical path.

NEW QUESTION 178
Which of the following is the most effective control to prevent unauthorized entrance of a former employee of the organization?

Revoking the former employee’s biometrics from the entrance systems

Installing security guards who have undergone a background check at all entrances.

Installing multiple high-powered surveillance cameras throughout the organization

Keeping doors locked and accessible with a key that is provided only to employees

NEW QUESTION 179
A change in credit policy has caused an increase in sales, an increase in discounts taken, a decrease in the amount of bad debts, and a decrease in the investment in accounts
receivable. Based upon this information, the entity’s:

Average collection period has decreased.

Percentage discount offered has decreased.

Accounts receivable turnover has decreased.

Working capital has increased.

An increase in discounts taken accompanied by declines in receivables balances and doubtful accounts all indicate that collections on the increased sales have been accelerated. Accordingly, the average collection period must have declined. The average collection period is a ratio calculated by dividing the number of days in a year 365) by the receivable turnover Thus, the higher the turnover, the shorter the average collection period The turnover increases when either sales the numerator) increase, or receivables the denominator) decrease Accomplishing both higher sales and a lower receivables increases the turnover and results in a shorter collection on period.

NEW QUESTION 180
Annual inventory holding costs equal:

US $750

US $1,250

US $1,750

US $2,250

Given that demand is constant and the EOQ is 2,500 units, the average inventory level-1 without regard to safety stock is 1,250 units 2,500 – 2). Adding safety stock results in an average level of 1,750 units 1,250 + 500). Given also that annual holding costs are 25% of average inventory and that unit cost i s U $4, total annual holding cost i s U $1 ,750 [(1 ,750 units : $4) 25%]. Using an EOQ analysis assuming a constant demand), it is determined that the optimal order quantity is 2,500. The company desires a safety stock of 500 units. A five day lead time is needed for delivery. Annual inventory holding costs equal 25°!a of the average inventory level. It costs the company US $4 per unit to buy the product, which it sells for US $8. It costs the company US $150 to place a detailed order, and the monthly demand for the product is 4,000 units.

NEW QUESTION 181
Capacity overbuilding is most likely to occur when management is focused on which of the following?

Marketing.

Finance.

Production.

Diversification.

NEW QUESTION 182
The amortization of intangible assets with finite useful lives is justified by the:

Economic entity assumption.

Going concern assumption.

Monetary unit assumption

Historical cost assumption

Every business is assumed to be a going concern that will continue operating indefinitely. Thus liquidation values are not important. For example if an entity is not a going concern, its intangible assets are reported at liquidation values, not at historical cost net of amortization.

NEW QUESTION 183
Various tools are employed to control large scale projects. They include all of the following except:

PERT.

CPM.

Statistical process control.

Gantt charts.

Statistical process (quality) control is not used to control large scale projects. Statistical quality control is a method of determining whether the shipment or production run of units lies within acceptable limits. It is also used to determine whether production processes are out of control.

NEW QUESTION 184
Which of the following would Batchelder most likely use as a hash total?

FG HK80

204

810

Input controls in batch computer systems are used to determine that no data are lost or added to the batch. Depending on the sophistication of a particular system. control may be accomplished by using record counts, batch totals, or hash totals. The hash total is a control total without a defined meaning, such as the total of employee numbers or invoice numbers, that is used to verify the completeness of data. The hash total of the invoice numbers is 810. Batch elder Company has the following invoices in a batch:

NEW QUESTION 185
Which of the following statements regarding organizational governance is not correct?

An effective internal audit function is one of the four cornerstones of good governance.

Those performing governance activities are accountable to the customer.

Accountability is one of the key elements of organizational governance.

Governance principles and the need for an internal audit function are applicable to governmental and not-for-profit activities.

NEW QUESTION 186
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?

Cost X is a variable cost.

Cost X is a fixed cost.

Cost X is a semi-fixed cost.

Cost X and the value of Output Produced are unrelated.

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IIA IIA-CIA-Part3 Exam Syllabus Topics:

Topic	Details
Topic 1	Differentiate types of common physical security controls Examine common performance measures
Topic 2	?Recognize advanced and emerging financial accounting concepts Organizational Structure and Business Processes
Topic 3	Explain basic IT infrastructure and network concepts ?Recognize existing and emerging cybersecurity risks
Topic 4	Recognize the application of data analytics methods in internal auditing Explain the purpose and use of various information security controls
Topic 5	?Explain general concepts of managerial accounting ?Examine the risk and control implications of common business processes
Topic 6	Explain the data analytics process ?Differentiate the various forms of user authentication and authorization controls
Topic 7	Recognize core activities in the systems development lifecycle and delivery Recognize the purpose and applications of IT control frameworks
Topic 8	Describe cybersecurity and information security-related policies Describe the strategic planning process and key activities
Topic 9	Define the operational roles of a network administrator, database administrator, and help desk
Topic 10	Recognize the various forms and elements of contracts ?Identify project management techniques