Latest Success Metrics For Actual IIA-CIA-Part3 Exam (Updated 344 Questions) [Q104-Q126]

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Latest Success Metrics For Actual IIA-CIA-Part3 Exam (Updated 344 Questions)

Genuine IIA-CIA-Part3 Exam Dumps Free Demo Valid QA’s

NEW QUESTION 104
Using the cost-recovery method of revenue, profit on an installment sale is recognized:

On the date of the installment sale.

In proportion to the cash collections.

After cash collections equal to the cost of goods sold have been received.

On the date the final cash collection is received.

NEW QUESTION 105
An entity purchased US $1 .000 gross amount of inventory on account with terms of 2 f discount if paid within 10 days. The seller was responsible for delivery to the shipping point, with freight of US $30 prepaid by the seller. The entity records purchases at the net amount. The journal entry to record payment 8 days after the invoice date is:

Option A

Option B

Option C

Option D

NEW QUESTION 106
A controller became aware that a competitor appeared to have access to the company’s pricing information. The internal auditor determined that the leak of information was occurring during the electronic transmission of data from branch offices to the head office.
Which of the following controls would be most effective in preventing the leak of information?

Asynchronous transmission.

Encryption.

Use of fiber-optic transmission lines.

Use of passwords.

NEW QUESTION 107
An organization uses the management-by-objectives method, whereby employee performance is based on defined goals. Which of the following statements is true regarding this approach?

It is particularly helpful to management when the organization is facing rapid change.

It is a more successful approach when adopted by mechanistic organizations.

It is more successful when goal-setting is performed not only by management, but by all team members, including lower-level staff.

It is particularly successful in environments that are prone to having poor employer-employee relations.

NEW QUESTION 108
If an entity has outstanding bonds with a sinking fund provision and if interest rates have
<List A> since the bonds were issued, the entity would realize a savings in meeting its sinking fund obligations by <List B>.

Option A

Option B

Option C

Option D

NEW QUESTION 109
Which of the following focuses on finding statistical relationships in order to create profiles?

Process mining.

Process analysis.

Data mining.

Data analysis.

NEW QUESTION 110
Which of the following scenarios best illustrates a spear phishing attack?

Numerous and consistent attacks on the company’s website caused the server to crash and service was disrupted.

A person posing as a representative of the company’s IT help desk called several employees and played a generic prerecorded message requesting password data.

A person received a personalized email regarding a golf membership renewal, and he clicked a hyperlink to enter his credit card data into a fake website.

Many users of a social network service received fake notifications of a unique opportunity to invest in a new product

NEW QUESTION 111
The entity had sales for the period of:

US $891,667

US $1,100,000

US $1,188,890

US $1,466,667

NEW QUESTION 112
Which of the following actions would best address a concern that data uploaded from a desktop computer may be erroneous?

The mainframe computer should be backed up on a regular basis.

Two persons should be present at the desktop computer when it is uploading data.

The mainframe computer should subject the data to the same edits and validation routines that online data entry would require.

Users should be required to review a random sample of processed data.

NEW QUESTION 113
Which of the following costs of quality is a failure cost?

Systems development costs.

Costs of inspecting in-process items.

Contract penalty for delivery of nonconforming goods.

Costs of quality circles.

NEW QUESTION 114
A small client recently put its cash disbursements system on a server. About which of the following internal control features would an auditor most likely be concerned?

Programming of the applications are in Visual Basic rather than Java.

The server is operated by employees who have cash custody responsibilities.

Only one employee has the password to gain access to the cash disbursement system.

There are restrictions on the amount of data that can be stored and on the length of time that data can be stored.

NEW QUESTION 115
Which of the following network types should an organization choose if it wants to allow access only to its own personnel?

An extranet

A local area network.

An intranet

The internet

NEW QUESTION 116
An internal auditor performs an analytical procedure to compare the gross margins of various divisional operations with those of other divisions and with the individual division’s performance in previous years. The internal auditor notes a significant increase in the gross margin at one division. The internal auditor does some preliminary investigation and also notes that there were no changes in products, production methods, or divisional management during the year. The most likely cause of the increase in gross margin is

An increase in the number of competitors selling similar products.

A decrease in the number of suppliers of the material used in manufacturing the product

An overstatement of year-end inventory.

An understatement of year-end accounts receivable.

NEW QUESTION 117
A seller’s price is below an appropriate measure of casts. Moreover, the seller has a reasonable prospect of recovering the resulting loss in the future through higher prices or a greater market share. Accordingly, the seller has engaged in:

Collusive pricing.

Dumping.

Predatory pricing.

Price discrimination.

NEW QUESTION 118
According to IIA guidance, which of the following would be the best first step to manage risk when a third party is overseeing the organization’s network and data?

Creating a comprehensive reporting system for vendors to demonstrate their ongoing due diligence in network operations

Drafting a strong contract that requires regular vendor control reports and a right-to-audit clause.

Applying administrative privileges to ensure right-to-access controls are appropriate

Creating a standing cybersecurity committee to identify and manage risks related to data security

NEW QUESTION 119
Unsecured loans are loans:

That do not have to be repaid for over one year.

That appear to be too risky for most lenders to consider.

Granted on the basis of a company’s credit standing.

Backed by mortgaged assets.

NEW QUESTION 120
Company M. which began operations on January 1, Year 1, recognizes income from long-term construction contracts under the percentage-of-completion method in its financial statements and under the completed-contract method for tax reporting. Income under each method follows:

There are no other temporary differences. If the applicable tax rate is 25% what amount should Company M report in its balance sheet at December 31, Year 3, for deferred income tax liability?

US $87,500

US $125,000

US $162,500

US $37,500

NEW QUESTION 121
Which of the following actions is likely to reduce the risk of violating transfer pricing regulations?

The organization sells inventory to an overseas subsidiary at fair value.

The local subsidiary purchases inventory at a discounted price.

The organization sells inventory to an overseas subsidiary at the original cost.

The local subsidiary purchases inventory at the depreciated cost.

NEW QUESTION 122
Which of the following statements is most accurate concerning the management and audit of a web server?

The file transfer protocol (FTP) should always be enabled.

The simple mail transfer protocol (SMTP) should be operating under the most privileged accounts.

The number of ports and protocols allowed to access the web server should be maximized.

Secure protocols for confidential pages should be used instead of clear-text protocols such as HTTP or FTP.

NEW QUESTION 123
Which of the following assists in ensuring mat information exchanged over IT systems is encrypted?

Operating system

Utility software

Firewall

Application software

NEW QUESTION 124
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?

Limit the use of the employee devices for personal use to mitigate the risk of exposure to organizational data.

Ensure that relevant access to key applications is strictly controlled through an approval and review process.

Institute detection and authentication controls for all devices used for network connectivity and data storage.

Use management software scan and then prompt parch reminders when devices connect to the network

NEW QUESTION 125
According to IIA guidance, which of the following corporate social responsibility (CSR) activities is appropriate for the internal audit activity to perform?

Determine the optimal amount of resources for the organization to invest in CSR.

Align CSR program objectives with the organization’s strategic plan.

Integrate CSR activities into the organization’s decision-making process.

Determine whether the organization has an appropriate policy governing its CSR activities.

NEW QUESTION 126
Which of the following statements is true regarding the term “flexible budgets” as it is used in accounting?

The term describes budgets that exclude fixed costs.

Flexible budgets exclude outcome projections, which are hard to determine, and instead rely on the most recent actual outcomes.

The term is a red flag for weak budgetary control activities.

Flexible budgets project data for different levels of activity.

Do Not Hesitate To Skip The Question

If you think a particular question is taking too much time, then don’t waste your time on it and move on to the next question.

Passing Score, Duration & Questions For The IIA CIA Part 3 Exam

Time Duration: 120 minutes
Languages: English
Number of Questions: 100 questions
The passing score: 70%

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